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Retail Market – Petroleum Products

Within the Petroleum trading floor, buying and selling auctions take place for both fungible used
products such as fuels as well as fuels used for heating and the functioning of various industrial
installations.

Among the available products you can find:

Automobile Fuel delivered to the pumping station: Gasolines ,Diesel and Liquefied petroleum gas
(LPG).

Automobile Fuel and liquid fuel with physical delivery (Wholesale): Gasolines ,Diesel and Liquefied
petroleum gas (LPG).

The main advantages resulted from accessing the Petroleum Products section of the Retail market refer to:

  • Advantageous price– Resulted from an organised system as a direct product of supply and demand. Using the price negotiation within the live or electronic auction offers the possibility of further price improvement compared to the initial best offered price. If the obtained price does not fall between your highest accepted price, the possibility of negotiating with only the best price bidder exists within the trading session, without having to repeat the procedure;
  • Reduced amount of time for procedure completion– The order is scheduled for trade within maximum 7 days from the date of issue;
  • RCE quotes– These offer the advantage of a reference system with regards to the prices within the market available through RCE;
  • The exchange guarantee system- executing the contract in good conditions using the utilised system as well as careful bidder selection before admission to the trading sessions.
  • Large number of existent bidders due to the large quantities traded at the total market level;
  • Efficient time and effort management related to the capitalization or acquisition of products;
  • Elimination of bureaucracy related to classic public acquisitions through commodity standardization and reduction of the amount of needed documents.

Acces și modalități de tranzacționare pe Piața Retail (Disponibil) – Ringul Produselor Petroliere

1. Complete the Initiating Order

ATTENTION!

Within the Petroleum products Trading floor bidding only the price of the Good is reccomended,
VAT and excise exclusive! For a correct estimate of the total contract value please consult The
level of applied excise from the Ministry of Finance website

2. Schedule the date of the trading session with the Trading floor manager or with the director of
the Terminal of which you belong to.

Your trading session (auction) will only take place on RCE’s electronic trading platform. It will be
scheduled in a maximum of 7 calendaristic days from the date of your Initiating Order issue date. In
order to schedule the session earlier (4 days minimum) or reschedule ( later than 8 days) please
send a written request to the Retail market Natural Gas manager or to the RCE Terminal which has
organised the procedure.

3. Provide RCE with the Initiating Order together with the Award documentation.

It is recommended that the Award documentation shall contain:

  • The task specification – your conditions and technical specifications for the supply of Petroleum
    products in your future supply contract.
  • Annex with physical delivery locations where the bidder must own pumping stations
  • Draft supply contract- your conditions and specifications from a legislative and economic point of view.
  • Participantion form- To be completed by all potential bidders.

4. RCE publishes your Initiating Order and sens the Participation invitation.

If the Initiating Order and Award documentation was sent before 16:00, the procedure will be
published in the same day.

If the documentation has been sent after 16:00, the procedure will be published the following day.
Due to this, the procedure calendar can suffer changes. All responsibility related to changes to the
procedure date falls exclusively to the Initiating customer.

5. Advertising period

Between the date of the procedure publication and the limit date for providing the offers, any
potential bidder can send clarification requests and/or document modification requests, to the
addresses mentioned but within the time limit mentioned in the Initiating order. The responsibility of
answering the requests and clarification of the Award documentation falls to the initiating customer.

6. Bidder registration for the procedure and providing the offers

Any potential bidder must provide requested documentation within the mentioned time limit, like so:

  • Opposite order- To the Trading Floor manager and the organising RCE terminal
  • Proof of guarantee constitution- To the Trading Floor manager and to the organising terminal
  • Award documentation (requested by the initiating customer) – To the Natural Gas manager and to the organising terminal

7. Evaluating and qualifying/rejecting offers

Documentation requested through the Award documentation evaluation (According to Law 98
and/or 99/2016) within the opposite offers as well as qualification or rejection of offers in the price
trading stage of the session is realized by the evaluation committee. All responsibility of qualifying
or rejecting received offers falls exclusively to the Initiating client.

8. Electronic trading session

  • Stage I: Opening stage- Bidders introduce their starting price- Duration: 15 minutes
  • Stage II: Free trade- Bidders improve the pries introduced in stage I – Duration: 15 minutes
    • Bidder prices and the initating customers prices are visible to all participants during the
      session.
    • The Initiating clients price can be matched by any bidder, thus launching the trade. The
      execution time is 2 minutes.
    • The price of the bidder which launched a transaction can be improved by any another bidder.
    • The execution time is 2 minutes.
    • If the matched order is not improved for 2 minutes, the transaction is successfully concluded.
  • Stage III: Session close– Bidders can not modify their prices. The initiator accepts or refuses the best price.

9. Procedure finalising. Documents issues post trading session.

  • Trading session report-this is signed by all participants to the procedure:Initiating client
    Bidding clients
    Session coordinator
  • Session contract (For sessions with a successfull transaction) – signed by:
    Initiating customer
    Winning bidder of the transaction
    Session coordinator

10. Procedure closing. Guarantee clearing. RCE commission payment

  • Complete a Guarantee restitution request and send it to the RCE manager.
  • If the organisation you represent is part of the concluded transaction, pay the RCE commission
    in the account specified on the invoice.
  • If your guarantee was constituted through a money order, you can pay the value of the
    commission through compensation in the guarantee account. Request the reciprocal debt
    clearance to the RCE manager. The difference will be provided back to you by RCE in the account
    specified.
  • If your organisation was not part in the transaction and has no debts to clear with RCE, RCE will
    pay back the amount in the account specified by you by the time specified in the guarantee
    restitution request.