Romania produced, in the first semester of 2024 a quantity of crude oil of over 1,353 million tons of oil equivalent (toe), 53,200 toe less (-3.8%) than during the same period of the previous year, according to the data centralised by the National Institute for Statistics. (INS). Imports of cruide oil were, in the mentioned period, 3.376 million toe, being 707.300 toe below those recorded in January - June 2023 (-17.3%). The latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP) estimates that the crude oil production will decrease until 2027 at an average of 2.5% annual rate. Thus, in 2024, a quantity of crude oil of 2.82 million toe (minus 3.1% compared to 2023) will be extraxcted in 2025 to 2.74 million toe (minus 2.8%)in 2026 to 2.68 milion toe (minus 2.2%) and in 2027 of 2.63million toe (minus 1.9%). According to CNSP this decrease will be the consequence of the natural decline of deposits and the maintenance of existing production units. The import of crude oil will increase from 7.35 million toe in 2023 to 7.8 million toe in 2027, with an average annual rate of 1.5%. After a 13.7% decline forecast 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 7.52million toe and by 7.8% in 2027.
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
