Romania is not among the EU Member States where the geopolitical risks could affect the oil supply, although the country imports more than half of its used oil, according to a report by Cambridge Econometrics.

The oil companies from outside the EU cover some 80% of EU’s oil supply. Only two of the top ten companies that provide the EU with oil come from countries that are members of the European Economic Area, namely the Norwegian company Statoil and the Dutch company Shell.

Russia, through Lukoil, Rosneft and other companies, contributes by a third of the EU’s oil imports. Romania's dependence on Russian oil is much lower, given both the domestic production as well as the imports from Kazakhstan.

editor@romania-insider.com