Romania’s crude oil production, decreasing in 2023

Romania produced, in 2023, a quantity of crude oil of 2.795 million tons of oil equivalent (toe), with 129,200 toe less (-4.4%) than in the same period last year, according to the data released by the National Institute of Statistics (INS).

Crude oil imports rose last year to 7.371 million toe, being 1.332 million toe below those recorded in 2022 (-15.3%).

According to the latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP), this year’s crude oil production was expected to be 3.050 million tons of oil equivalent, down 2.3% compared to 2022.

CNSP signals that Romania’s crude oil production will be on a downward trajectory in the period 2023-2026, with an average annual rate of -2.2%, a consequence of the natural decline of deposits and the maintenance of existing production units.

Thus, in 2024, it will be 2.98 million toe (-2.3% compared to the previous year), in 2025 to 2.91 million toe (-2.3%) and in 2026 to 2.855 million toe (- 2%).

On the other hand, for the import of crude oil, CNSP estimates an increase in the mentioned period with an average annual rate of 4.1%.

For 2023, the Energy Balance Forecast estimates imports of 9.215 million toe (+5.1% compared to the previous year), for 2024 to 9.65 million toe (+4.7%), for 2025 to 10 million toe (+ 3.6%), and for 2026 of 10.3 million toe (+3%).
2023crude oilNational Institute of Statistics (INS)productionRomania
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