Over 15 pc more oil imports at end-May y-o-y

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Romania imported in the first five months of 2016 some 3.147 million tonnes of oil equivalent (toe) by 414,500 toe (15.2 percent) more than the one imported in the similar period of 2015, according to centralized data released by the National Institute of Statistics (INS).

The oil production totaled 1.509 million toe, being by 4.1 percent (63,900 toe) smaller than the one of the similar period of 2015.

According to the project of the Energy Strategy published on the relevant ministry’s website Romania’s oil reserves are limited, considering that the past 30 years’ discoveries they could be labeled as modest – except for some recent signals from the shallow waters of the Black Sea, their marketability only being in the stage of analysis.

According to data provided by the National Mineral Resources Agency (ANRM), the oil geological resources are estimated to 2 billion tonnes, and the certain reserves to 60 million tonnes.

Most of Romania’s geological resources and of the certain reserves identified so far are located onshore (96 percent) and only 4 percent in the Black Sea’s continental shelf.

Even if facing a natural decrease of its oil production, Romania continues to remain the fourth oil producer in the European Union, the fifth of Europe, respectively. As reported to the European production, the national oil production represents 2 percent of Europe’s output and approximately 6 percent of the EU’s.

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