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.
Several Western embassies in Bucharest expressed support for Romania on Thursday, February 27, emphasizing its commitment to the rule of law, democratic values, and judicial independence, Biziday.ro reported. Representatives of France, Germany, the Netherlands, and Spain posted messages on social media reaffirming their confidence in Romania's institutions amid recent criticism from figures associated with the...
RoBoost, Romanian Business Leaders’ program dedicated to the development of Romanian Tourism Brand, was the host of “Strategies and Influencers for the Future of Romanian Tourism” Conference at the RomExpo Tourisn Fair in Bucharest. The Conference brought together industry leaders, experts and influencers to discuss insights and opportunities for a future of...
Romanians welcome spring on March 1 with the centuries-old tradition of mărțișor, a red-and-white trinket symbolizing luck and continuity. To mark the occasion, Patricia Furstenberg, a Romanian-born author in South Africa and a Romania-insider.com reader, shares a story that “blends atmospheric storytelling with the deep-rooted symbolism of mărțișor, exploring how a simple string can carry the […]
The United States Department of Defense recently published a notice of intent regarding a government tender for the construction of special telecommunications links between the missile defense base at Deveselu, in Romania, and other bases in Europe. The project seeks to link Deveselu and bases in Italy and Germany. The former concerns the facilities in […]
Global Vision, a leading real estate company in Central and Eastern Europe, announced the appointment of Antoanela Comșa as deputy CEO. Comșa previously served as president of the Romanian Real Estate Investors Association (AREI) for two terms, later continuing as a member of the Association’s board. Recently, she also held the position of deputy general […]
The Romanian interim head of state, Ilie Bolojan, will be received on Saturday, March 1, by Moldovan president Maia Sandu during an official visit to Chișinău, as announced by the Presidential Administration of the Republic of Moldova. According to the official schedule, during the visit, Maia Sandu and Ilie Bolojan will hold a press conference […]
