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.
An earthquake of magnitude 5.4 shook Romania’s capital Bucharest and parts of Eastern Romania on Monday afternoon, September 16, around 17:40. No damages were reported after the event. According to the National Institute for Earth’s Physics (INFP), the earthquake occurred in the Vrancea seismic area, some 56 km North-West of Buzau and 59 km East […]
Romania and the United States, through the head of the prime minister’s chancellery Alexandru-Mihai Ghigiu, and the US ambassador to Romania, Kathleen Kavalec, have signed a five-year Child Protection Framework Partnership valued at USD 10 million. The purpose of the partnership is to create a victim-centered prevention strategy and protect child victims of trafficking, according […]
A snow layer of around 5 cm has fallen on Romania’s Transalpina mountain road, at altitudes over 1,900 meters, according to Gorj County authorities. The snow is particularly present in the Dengherul - Cărbunele sector, and visibility is reduced due to fog. The Gorj Mountain Rescue Service (Salvamont) advises drivers intending to cross Transalpina over […]
Nobel Prize for Literature winner Abdulrazak Gurnah, Irish novelist, poet and playwright Colm Tóibín, Spanish author Clara Usón, Israeli writer Zeruya Shalev, and French novelist and essayist Pascal Bruckner are among the guests of this year’s Iaşi International Festival of Literature and Translation (FILIT). The event, scheduled to take place between October 23 and October […]
Hanwha Aerospace, the largest defense company in South Korea, will begin construction of an armored vehicle factory in Romania at the beginning of next year, according to News.ro. The group plans to make Romania a regional hub for all Hanwha's land...
Turda Salt Mine (Salina Turda), one of the most spectacular tourist destinations revealing Romania’s underground wonders, will expand under a project set to kick off in 2025. The plan is to open another mine to tourists, which, local authorities say, would double the number of visitors. The project targets the 10,000 sqm Iosif mine, which […]
