In the first two months of 2018, Romania imported 1,453 million tons of crude oil equivalent, with 242,500 toes (20%) higher than imports in the similar period of 2017, according to data centralized by the National Institute of Statistics (INS).

Oil production totaled 542,500 toes, down by 3.6% (20,400 toe) than last year.

According to the Energy Strategy project, published on the website of the Ministry of Energy, the domestic crude oil production is estimated to halve at about 2 million tons in 2030, says Agerpres.

Increased dependence on imports cannot be avoided in the medium and long term other way than by encouraging exploration and production activity, and by increasing efficiency in the consumption of petroleum fuels, the document says.

It is also estimated that crude oil production will continue to decline slowly between 2030 and 2050, from 22 to 13 TWh (1.93 to 1.15 million toe). In the ambitious decarbonization scenario combined with low oil prices, crude oil production has a turning point in 2035, where a sharp drop to zero might start.

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