Worrying report. Without the reserves in the Black Sea, Romania will run out of natural gas in about 9 years

Romania’s fossil energy reserves of natural gas and crude oil are nearing their end, according to a British Petroleum report. At the current rate of extraction, natural gas runs out in nine years and oil in 22 years. But the BP report on how long it takes to run out of oil and gas reserves ignores new field discoveries, the exploitation of which is being delayed by politicians.

With proven reserves of around 100 billion cubic meters of gas and declining production, Romanian gas will run out in around nine years, according to e-nergia.ro, which quotes the report published by the giant British Petroleum. But Romania has estimated reserves of 200 billion cubic meters of gas, according to earlier estimates by the National Agency for Mineral Resources.

Although there are currently several companies interested in exploiting gas from the Black Sea, such as OMV Petrom, ExxonMobil and more recently Romgaz, which is interested in taking over ExxonMobil’s share of the Neptun Deep field, estimated at 42 to 84 billion cubic meters of gas. The Americans announced two years ago that they would withdraw from Romania, dissatisfied with politicians’ indecision.

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Europe’s biggest gas producers are the UK, Norway and the Netherlands, followed by Romania. Globally, counting production and reserves, natural gas would run out in about 49 years.

At the current rate of exploitation and based on current reserves, Romanian oil would run out in about 23 years. Our country has proven oil reserves of about 600 million barrels, and in 2020 national production was 72,000 barrels per day, down 3.3% from the previous year.

The largest European producers are Norway and the UK, and their reserves will run out in 10.8 and 6.6 years respectively, according to BP data. Globally, oil reserves would run out in 53 years.

So in about half a century, a severe energy crisis is looming if renewable resources – wind, sun, water, biomass – are not harnessed to the maximum possible extent.

Edited for English by: Service For Life SRL