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Crude oil production down 4.2pct in Romania January through November 2024; imports up 10.8pct

February 20, 2025

Romania produced a quantity of crude oil of almost 2.456 million tonnes of oil equivalent (toe) January through November, 2024, by 106,500 toe less (-4.2%) against the same period of the previous year, according to data centralized by the National Institute of Statistics (INS).Crude oil imports totaled 7.418 million toe, in the reference period, by 721,600 toe more against the level recorded in January-November 2023 (+10.8%).According to the latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP), crude oil production is expected to decrease by 2027 at an average annual rate of 2.5%.Thus, for 2024, a quantity of crude oil of 2.82 million toe (minus 3.1% compared to 2023) is estimated, in 2025 of 2.74 million toe (minus 2.8% compared to the previous year), in 2026 of 2.68 million toe (minus 2.2%) and in 2027 of 2.63 million toe (minus 1.9%).According to the CNSP, this decrease will be the consequence of the natural decline of deposits and the maintenance of existing production units.Crude oil imports are expected to 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% decrease estimated 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.   

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