Romania's H1 2022 crude oil production declines 6.2pct

In H1 2022, Romania produced 1.464 million tonnes of oil equivalent (toe) of crude oil, down 97,100 toe (6.2%) y-o-y, according to data with the National Institute of Statistics (INS).

Romania's H1 2002 crude oil imports stood at 3.95 million toe, up 50,400 toe (+1.3%) y-o-y.

According to the National Economic Strategy and Forecasting Board, Romania's 2022 crude oil production is estimated at 3.17 million toe, down 2.3% from 2021, while the country's 2023 output should reach 3.095 million toe, down 2.3%. Imports are expected to reach 7.25 million toe in 2022, up 6.4%, and 7.83 million toe in 2023, up 6.5%.

Under the Energy Strategy Project published on the website of the Ministry of Energy, Romaia's crude oil production will continue a slow downward trend between 2030 and 2050, from 22 to 13 TWh (1.93 to 1.15 million toe).

The results of a modeling carried out in 2016 show a halving of the domestic production of crude oil, to approximately 2 million tonnes in 2030. A rising dependence on imports can only be avoided in the medium and long term by encouraging exploration and production, as well as by increasing the efficient consumption of fossil fuels.