Romania’s oil imports to increase by 1.2% next year

Romania's oil imports will increase by 1.2% to 6.88 million tonnes of oil equivalent (toe) next year, whereas the production will go up by 1.3% to 3.85 million toe, according to the National Prognosis Commission. In 2017, oil imports will increase by 1.3% to 6.97 million toe and in 2018, they will rise by 1.4% to 7.07 million toe. For 2015, imports are estimated at 6.8 million toe, up 1.1% compared to 2014. Oil production will increase by 2.6% to 3.95 million toe in 2017, and will go up by 1.3% in 2018, to 4 million toe. The production estimated for this year is 3.8 million toe, up by 0.3% compared to last year. According to Romania’s Energy Strategy 2015-2035 project, Romania’s oil reserves are limited, as the discoveries of the last 30 years are considered modest. Even if it faces a natural decline in oil production, Romania remains the fourth largest oil producer in EU. editor@romania-insider.com