Romanian pipeline transporter to upgrade network

Romanian operator of the country’s crude oil pipeline network Conpet said it would invest up to ROL 80 bn in its network rehabilitation over the next six months.
Last year, Conpet invested some ROL 1.1 tn in network development and environmental protection projects.

Conpet needs $ 120 mm to upgrade and to secure the network. The World Bank is expected to finance half of the project. Conpet officials said after the project implementation, transport fares were expected to decline.
Conpet has a 6,500 km pipeline network and ensure the transport of crude oil from Black Sea-based Oil Terminal to local refineries.