The energy sector needs massive investments but can also generate impressive results, as the gas discoveries made by Petrom in the Black Sea have shown.
On the other hand, news is not very good for end users: the gas will not get any cheaper, and on top of that, natural gas and electricity will become more expensive, the executives in the energy industry attending the Power Summit ’12 said. Cheaper oil is out the question for the time being, considering the tension in northern Africa, as well as the crisis in Iran.
“We have a budget estimate built around a price of $100 per oil barrel. We hedged at $101 per barrel,” said Mariana Gheorghe, chief executive of OMV Petrom.
Marius Ghica, CEO of Rompetrol Group Corporate Center, said that it is not just the price of oil that matters in the equation of the final pump price, but also the exchange rate.
Even though many sectors of the economy are in the red, as they have been over the last three years, after all, the energy sector still has resources to grow. After the wind power boom comes the solar power boom and this may generate lots of jobs and investments. This sector is attracting a lot of interest.
Power Summit ’12 was organized by Ziarul Financiar in partnership with Enel, Petrom, GDF Suez, E.ON, Opel, Renania, Vodafone, Alpha Bank, Signal Iduna and Samsung.
(English version by Loredana Frățilă-Cristescu)