Romania has imported over 3.46 million tons of crude oil (tep), in the first five months of 2018, with 620.100 tep (21.8%) higher than what it imported in the similar period of 2017, according to data centralized by the National Institute of Statistics (INS).

Oil production totaled 1,394 million tep, 2.9% (42,200 tep) lower than the previous year.

The Energy Strategy draft, published on website of the Romanian Ministry of Energy, estimates the crude oil production to halve at approximately 2 million tons in 2030, according to Agerpres.

Increased dependence of imports cannot be avoided in the medium and long term other than by encouraging exploration and production activity, and by increased efficiency in the consumption of petroleum fuels, as mentioned in the document.

It is also estimated that crude oil production will continue the downward trend between 2030 and 2050, from 22 to 13 TWh (1.93 to 1.15 million teps). In the ambitious decarbonization scenario combined with low oil prices, crude oil production, knows a turning point in 2035, starting from a steep drop to zero.

Romania’s proven crude oil reserves will be exhausted in 12-15 years at the current exploitation rate.