The Czech Republic produced 13,200 bbl/d of oil and 5.4 Bcf of natural gas during 2003. Petroleum and natural gas (140 Bcf in 2003) are present in limited quantities in the Czech Republic, although geological work is ongoing to locate new supplies. The need for ores and energy supplies is demonstrated by the Czech iron and steel industry, which has a long tradition and is a leading source of exports. Most of the country's natural oil and gas supplies are imported from Russia.

In the Czech Republic, exploration has been taking place in the Western Carpathians, an area bordering Austria and Slovakia Australia's Carpathian Resources, which is leading the exploration and production activities in this region. It has been reported that it has been producing oil, albeit sporadic due to water influx and weather problems, from two wells (Ks7 and Ks8) at the Krásná oil field. Carpathian Resources also holds three exploration licenses in Slovakia for the Korňa, Miková and Kežmarok fields, of which the first two have demonstrated non-commercially-viable oil deposits after preliminary testing.

According to the 2008 BP Statistical Energy Survey, the Czech Republic consumed an average of 209.5 thousand barrels a day of oil in 2007 and 8.89 billion cubic metres of natural gas.