Romania imports over 1.4 million toe of crude oil, Jan.-Feb., 2018

 In the first two months of 2018, Romania imported 1.453 million tonnes of oil equivalent (toe) of crude oil, up 242.500 toe (20 percent) from the similar period of 2017, according to data centralised by the National Institute of Statistics (INS).

Crude oil production amounted to 542,500 toe, down 3.6 percent (20,400 toe) from the previous year.

According to the Energy Strategy draft posted on the website of the Ministry of Energy, a halving of domestic crude production to about 2 million tonnes is estimated in 2030.

Increased import dependence cannot be avoided in the medium- and long-term than by encouraging exploration and production, or by increasing the efficiency of oil fuel consumption, the document says.

It is also estimated that the crude production will continue its slow downward trend between 2030 and 2050, from 22 to 13 TWh (1.93 to 1.15 million toe). In the ambitious decarbonisation scenario combined with low oil prices, the oil production should reach a turning point in 2035, when it should start on a steep decline to zero.

Romania's proven crude reserves will be exhausted in 12-15 years at the current exploitation rate.

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