In Romania primary energy resources rebound 16.3% y/y in Nov on imports’ jump

Romania’s primary energy resources increased by 16.3% y/y to almost 3.1mn toe in November, according to a release of the state statistical institute published today. The increase was the strongest recorded in 2016 and was backed by a notable jump of imports in the sector. The local production also had a positive contribution to the dynamics improvement in the month, as its fall was smaller in November than a month earlier. Nevertheless, the local production of primary energy resources remained on the fall, dragged down by decreases in all segments, except for the hydro and nuclear electricity. The most significant negative impact came from coal, as the local production fell by double-digit pace as domestic mining sector is facing restructuring and mines are closing. The gas production also fell, but the decrease pace was half smaller compared to the previous month. Therefore, gas imports increased significantly again y/y and reached 255,200 toe in November, up from 46,700 toe in the same month last year. Actually, oil and gas were the only energy resources that reported imports’ growth y/y in November. Coal imports collapsed by double-digit pace in the month, after growing strongly in the previous two periods, most probably because the authorities switched the thermal plants from coal to gas.

As for the secondary energy resources, namely the electricity generated using other energy sources, the local production increased moderately y/y in November, whereas imports fell after two months on the rise. The local production increase was the result of a stronger rise of the domestic consumption, as exports kept on falling.

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