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Crude oil production down 4.4pct, imports 15.3pct lower in 2023


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

Crude oil imports amounted to 7.371 million toe last year, 1.332 million toe less than in 2022 (-15.3%).

According to the latest energy balance forecast, published by the National Commission for Strategy and Prognosis (CNSP), this year's crude oil production was forecast at 3.050 million tonnes of oil equivalent, down 2.3% compared to 2022.

The CNSP reports 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 2.91 million toe (-2.3%) and in 2026 2.855 million toe (-2%).

On the other hand, the CNSP estimates an increase of 4.1% in the import of crude oil during the period mentioned above.

For 2023, the energy balance forecast estimates imports of 9.215 million toe (+5.1% compared to the previous year), for 2024 of 9.65 million toe (+4.7%), for 2025 of 10 million toe (+3.6%), and for 2026 of 10.3 million toe (+3%).