In the first five months of 2024, Romania produced over 1.132 million tonnes of oil equivalent (toe), down 44,200 toe (-3.8%) y-o-y, according to data with the National Institute of Statistics (INS).Imports of crude oil totalled 2.568 million toe, down 896,400 toe from January-May 2023 (-25.9%).According to the latest Energy Balance Forecast, published by the National Commission for Economic Strategy and Forecast (CNSP), crude oil production is expected to decrease by 2027 at an average annual pace of 2.5%.Thus, in 2024, 2.82 million toe (minus 3.1% as against 2023) will be extracted, in 2025 2.74 million toe (minus 2.8%), in 20 26 2.68 million toe (minus 2.2%) and in 2027 2.63 million toe (minus 1.9%).According to the CNSP, the decrease will be the consequence of the natural decline of the deposits and the maintenance of the existing production facilities.Crude oil imports will increase from 7.35 million toe in 2023 to 7.8 million toe in 2027, at an average annual pace of 1.5%. After a decrease of 13.7% expected for 2024, to 6.34 million toe, imports will increase by 10.4% in 2025, to 7 million toe, by 7.4% in 2026, to 7.52 million toe, and by 7.8% in 2027.According to the draft Energy Strategy of Romania 2025-2035, Romania can process more crude oil than domestic demand for petroleum products. However, the Romanian refineries acquire the national production of crude oil and import about two-thirds of the demand. In 2023, refineries in Romania processed 10.2 million tons of crude oil and additives, including 2.8 million tonnes of domestic production and 7.4 million tonnes of imports.
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
