Oil & Gas

20 May 2024

Romania's Crude Oil Production Down 3.4pct in Q1 2024, Imports Drop 15.1pct (Statistics)

20 May 2024  by stiripesurse   

In the first quarter of 2024, Romania produced 682,400 tonnes of oil equivalent (toe) of oil, 23,900 toe less (-3.4%) than in the same period of the previous year, according to data centralised by the National Institute of Statistics (INS).

Imports of crude oil exceeded 1.773 million toe in the period, 315,700 toe less than in January-March 2023 (-15.1%).

According to the latest Energy Balance Forecast, published by the National Commission for Strategy and Forecasting (CNSP), Romania's coal production will be on a downward trajectory until 2026, with an average annual rate of -2.2%, as a consequence of the natural decline of deposits and the maintenance of existing production units.

Thus, in 2024, production will be 2.98 million toe (-2.3% compared to the previous year), in 2025 2.91 million toe (-2.3%) and in 2026 2.855 million toe (-2%).

On the other hand, the CNSP estimates an increase of 4.1% for the import of oil during the period mentioned above.

For 2024, the latest Energy Balance Forecast estimates imports of 9.65 million toe (+4.7%), for 2025 of 10 million toe (+3.6%, and for 2026 of 10.3 million toe (+3%).


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