Primary energy resources rise by 3.9% y/y in Romania

Romania’s primary energy resources increased by 3.9% y/y to more than 2.5 million tone in June, according to a release of the state statistical institute published today. The moderate increase was exclusively generated by the higher domestic production, especially in the gas and coal segments, where demand from electricity generators picked up. Only oil production slightly fell y/y in June. Energy imports fell in all segments except for electricity, where purchases from abroad jumped more significantly to cushion the domestic production shortfall in the period. Gas imports decreased notably again, as domestic production resumed and prices on the free market are converging. However, the largest contribution to the energy imports drop came from oil, which was down to among the lowest levels reported this year in June.

As for the electricity resources, including the secondary electricity resources produced in traditional plants, the local production kept on falling, with a faster pace in annual terms in June. The electricity generated in hydro and nuclear power plants increased y/y in June but the thermal plants diminished their production in the month, most probably due to cheaper imports. In fact, the electricity imports jumped significantly y/y in June to cover the moderate consumption growth in the month.