In the first ten months of 2024, Romania produced 2.246 million tonnes of oil equivalent (toe), down 92,200 toe (-3.9%) than in the same period of the previous year, according to data centralized by the National Institute of Statistics (INS).Imports of crude oil totaled 6.665 million toe during the period, 313,200 toe more than in January-November 2023 (+4.9%).According to the latest Energy Balance Forecast, published by the National Commission for Strategy and Prognosis (CNSP), the production of crude oil is expected to decrease until 2027 at an average annual rate of 2.5%.Thus, 2.82 million toe (minus 3.1% compared to 2023) will be extracted in 2024, 2.74 million toe (minus 2.8%) in 2025, 2.68 million toe (minus 2.2%) in 2026 and 2.63 million toe (minus 1.9%) in 2027.According to the CNSP, this decrease will be the consequence of the natural decline in the supply of reserves and the maintenance of existing production units.Imports of steel will increase from 7.35 million toe in 2023 to 7.8 million toe in 2027, at an average annual rate of 1.5%. After a drop 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.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
