Romania's crude oil production will grow over the next four years

Romania’s crude oil production will grow steadily over the next four years and is projected to reach 4.2 million tonnes of oil equivalent in 2019, and imports will go up to 8.4 million toe in the same period, according to the energy balance forecast of the National Prognosis Commission (CNP).

Thus, crude oil production will increase from 3.95 million toe in 2015 to 3.975 million toe in 2016 (plus 0.6pct annually), to 4.030 million toe in 2017 (plus 1.4pct), 4.1 million toe in 2018 (plus 1.7pct) and to 4.2 million toe in 2019 (plus 2.4pct).

Moreover, according to the CNP estimates, gas imports will go up from 7.15 million toe in 2015 to 7.5 million toe in 2016 (plus 4.9pct), to 7.8 million toe in 2017 (plus 4pct), 8.1 million toe in 2018 (plus 3.8pct) and 8.4 million toe in 2019 (plus 3.7pct).

Crude oil imports will make up 62.1pct of total imports of primary energy resources in 2016, 63pct in 2017, 63.8pct in 2018 and 64.7pct in 2019.

In 2016 Romania’s energy resources will stand at 43.3 million toe, up by 1.6pct year-on-year.

Out of the total of energy resources, 41.9 million toe are primary energy resources, with 26.8 million making up production, 12 million toe – imports, and 2.9 million toe the stock at the start of the year. The energy transformation stock represents 1.4 million toe.

The biggest share of the resources, namely 33.1 million toe, will enter domestic consumption, and 5.8 million toe will represent exports. According to the CNP forecasts, there will be a stock of 4.3 million toe in place at the end of next year.

Out of the total domestic consumption, 3 million toe are for energy sector consumption, 23.3 million toe are available for final consumption and 1 million toe represent losses.

For the upcoming three years, energy resources will increase by 1.6pct – 1.7pct year-on-year, up to 44.02 million toe in 2017, and subsequently to 44.7 million toe in 2018 and 45.5 million toe in 2019, according to the CNP forecasts.