Romania produced, in the first eight months of 2023, a quantity of crude oil of 1.87 million tons of oil equivalent (toe), 78,600 toe less (-4%) compared to the same period last year, according to data centralized by the National Institute of Statistics (INS). Crude oil imports rose, in the January-August 2023 period, to 5.198 million toe, being 434,500 toe (-7.7%) below those recorded in the first eight months of 2022. According to the latest Energy Balance Forecast, published by CNSP, crude oil production is expected in 2023 at 3.050 million tons of oil equivalent (minus 2.3% compared to 2022). The National Strategy and Forecast Commission indicates that Romania’s crude oil production will be on a downward trajectory in the period 2023-2026, with an average annual rate of -2.2%, a consequence of the natural decline of deposits and the maintenance of existing production units. Thus, in 2024 it will be 2.98 million toe (minus 2.3% compared to the previous year), in 2025 to 2.91 million toe (minus 2.3%) and in 2026 to 2.855 million toe (minus 2 %). On the other hand, the import of crude oil will increase during the mentioned period with an average annual rate of 4.1%. For 2023, imports are estimated at 9.215 million toe (plus 5.1% compared to the previous year), for 2024 of 9.65 million toe (plus 4.7%), for 2025 of 10 million toe (plus 3.6%) and for 2026 of 10.3 million toe (plus 3%).
Bucharest is one of the best cities for artificial intelligence startups, according to the Global Startup Ecosystem Index 2024 report by StartupBlink, quoted by Economedia.ro. However, only one Romanian startup, unicorn UiPath, seems to lead the country's capital city to this top. Romania has entered...
Former Romanian journalist Radu Budeanu, currently owner of the Titluri Quality, which includes the Cancan tabloid, the Gândul, general daily, and the ProSport sports daily, has purchased major local news agency Mediafax and its media products: the website, photo agency, and news feed. The transaction was agreed on January 8, 2025, according to Mediafax. ...
Romania’s imports of goods advanced by 2.8% y/y to EUR 126 billion in 12 months to November, driven by robust domestic demand for consumption and investments, while the exports contracted by 1.5% y/y to EUR 92 billion in the same 12-month period, according to data published by the statistics office INS. The trade deficit in […]
The retail sales volume increased by 8.6% y/y in November and 7.9% y/y in the 12 months to November 2024, according to data published by the statistics office INS. Although the figures are broadly in line with the overall macro landscape (robust growth of households' income, imports rising faster than exports), there is an unusual […]
Romania was formally designated the 43rd country to join the US Visa Waiver Program (VWP) on Friday, January 10. According to the Romanian ambassador to Washington, Andrei Muraru, Romanian citizens will be able to travel to the US without the need for a visa starting March 31, 2025. "Romania becomes the first country in the […]
Cluj-Napoca, the city in Romania with some of the highest rents and a fast-growing IT industry, is closer to banning smoking in playgrounds and parks after mayor Emil Boc expressed his support for the measure. The mayor cited the prioritization of public health as the reason behind such a ban. He mentioned that he has […]
