Romania produced, in the first four months of 2024, a quantity of crude oil of 903,900 tonnes of oil equivalent (toe), by 36,100 toe less (-3.8%) compared to that in the similar period of the previous year, according to data centralized by the National Institute of Statistics (INS).In the mentioned period, the imports of steel exceeded 2.18 million tep, being 552,400 tep below those recorded in January-April 2023 (-20.2%).According to the latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP), Romania's crude oil production will be on a downward trajectory until 2026, with an average annual rate of -2.2%, a consequence of the decline natural deposits and maintenance of existing production units.On the other hand, for the crude oil import, CNSP estimates an increase in the mentioned period with an average annual rate of 4.1%.The refining sector in Romania consists of four operational refineries: Petrobrazi (owned by OMV Petrom), Petromidia and Vega (owned by Rompetrol) and Petrotel (owned by Lukoil) with a total operational capacity of approximately 12 million tonnes per year.According to the project of the Energy Strategy of Romania 2025-2035, with the perspective of 2050, Romania has a capacity to process crude oil greater than the domestic demand for petroleum products. However, Romanian refineries purchase the national production of crude oil and import about two thirds of what is needed. In 2023, Romanian refineries processed 10.2 million tonnes of crude oil and additives, of which 2.8 million tonnes were domestically produced and 7.4 million tonnes were imported.
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 […]
