The largest oil producers in the European Union were, in 2022, Italy (4.5 million tons), Denmark (3.2 million tons) and Romania (3 million tons), according to data published on Monday by Eurostat. According to this source, EU crude oil production continued to decline in 2022, despite a significant increase in oil prices following the Russian invasion of Ukraine. EU oil production fell in 2022 to a historic low of 16.3 million tonnes, 7.4% less than in 2021. Taking a longer time horizon into account, EU crude oil production has been declining since 2004, when it peaked at 41.8 million tonnes, meaning that production in 2022 was 61% lower compared to with the historical maximum since 2004. In 2022 compared to 2021, oil production also decreased in the first three producers: Italy (minus 8%), Denmark (minus 2%) and Romania (minus 6%). According to Eurostat, the EU’s dependence on imports of oil and oil products reached a new historical high of 97.7% in 2022, after in 2021 this dependence registered a significant decline to 91.6%. In 2022, total EU crude oil imports stood at 479.6 million tonnes, a considerable increase of 7.4 percentage points compared to 2021, when these imports fell to their lowest level in 31 years . Most imports came from Russia (88.4 million tons), Norway (54.1 million tons), USA (48.3 million tons), Iraq (37.2 million tons) and Kazakhstan (36 .6 million tons). Also in 2022, EU refineries produced 544.3 million tonnes of oil equivalent of petroleum products, up 4.5% compared to 2021. The largest producers of petroleum products were: Germany (99.9 million tonnes oil equivalent), Italy (74.6 million tons of oil equivalent), Spain (63.4 million tons of oil equivalent) and the Netherlands (59.6 million tons of oil equivalent). Next, in order, are France, Greece, Belgium, Poland, Sweden and Romania, with a production of less than 20 million tons of oil equivalent.
Home prices continue to rise rapidly in most major cities across Europe and globally, including Romania. Bucharest and other large cities are nearing the critical threshold of inaccessibility for residents with average incomes, according to an analysis by the Social Monitor, a project of Friedrich-Ebert-Stiftung Romania, based on data from Numbeo and Eurostat. In the […]
Representatives of Romania’s main education trade union federations protested on August 4 for the fourth consecutive day in front of the Ministry of Education and Research, opposing austerity measures introduced under Law 141/2025, which came into force on August 1,
The Declic Community has submitted a petition signed by roughly 90,000 Romanians to the Presidential Administration, calling on president Nicușor Dan to initiate a national referendum on the reform of special pensions. The civic group is demanding that all pensions follow the contributory principle and that the retirement age be the same for all professions, […]
Besides 5.5 GW of installed solar and wind power units already in use, Romania's market regulator ANRE has approved the construction of new units with a combined capacity of nearly 6 GW, which could double the contribution of the green energy (hydro not included) from 20% currently to 40%, according to Ziarul...
Romania’s Ministry of Energy informed on Monday, August 4, that it has authorised OMV Petrom to temporarily use 80,000 tonnes of crude oil and 30,000 tonnes of diesel out of its reserves to offset the effects of refusing two ships carrying a total of 180,000 tonnes of contaminated Azeri crude oil. Minister Bogdan Ivan declared […]
In a first move of this kind on the Romanian capital market, the five investment funds resulted from the mass privatisation scheme in the 90’s – Lion Capital, Evergent Investments, Transilvania Investments, Longshield Investment Group, and Infinity Capital (directly or through subsidiaries) – jointly financed, in full, the EUR 100 million bond issue of real […]
