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Romania's crude oil production decreased by 3.8% in the first six months of 2024; imports decreased by 17.3%
Romania produced, in the first semester of 2024 a quantity of crude oil of over 1,353 million tons of oil equivalent (toe), 53,200 toe less (-3.8%) than during the same period of the previous year, according to the data centralised by the National Institute for Statistics. (INS).
Imports of cruide oil were, in the mentioned period, 3.376 million toe, being 707.300 toe below those recorded in January - June 2023 (-17.3%).
The latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP) estimates that the crude oil production will decrease until 2027 at an average of 2.5% annual rate.
Thus, in 2024, a quantity of crude oil of 2.82 million toe (minus 3.1% compared to 2023) will be extraxcted in 2025 to 2.74 million toe (minus 2.8%)in 2026 to 2.68 milion toe (minus 2.2%) and in 2027 of 2.63million toe (minus 1.9%).
According to CNSP this decrease will be the consequence of the natural decline of deposits and the maintenance of existing production units.
The import of crude oil will 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% decline forecast 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 7.52million toe and by 7.8% in 2027.