Romania is the largest oil producer in Central and Eastern Europe with reserves of 956 million barrels. According to the 2008 BP Statistical Energy Survey, Romania produced an average of 105.4 thousand barrels of crude oil per day in 2007, 0.12% of the world total and a change of 0.9 % compared to 2006. The country is a net oil importer, and according to the 2008 BP Statistical Energy Survey, Romania consumed an average of 229.29 thousand barrels a day of oil in 2007, 0.27% of the world total and a change from 2006 of 10.44 tbpd.
Romania imports oil via the Black Sea through two major ports, Constanta and Tulcea, giving the country the capability to be a major energy transport point. Because of its perceived strategic importance, the Romanian government has no plans to privatize Conpet, the state-owned oil transport company, which operates the national pipeline system.
According to the 2008 BP Statistical Energy Survey, Romania had 2007 proved natural gas reserves of 0.62 trillion cubic metres, 0.35% of the world total. According to the 2008 BP Statistical Energy Survey, Romania had 2007 natural gas production of 11.55 billion cubic metres and natural gas consumption of 16.36 billion cubic metres.
Romania dominates Southeastern Europe's downstream petroleum industry, with ten of the region's eleven refineries. Because its refining capacity far exceeds domestic demand, Romania exports a wide range of oil products and petrochemicals.
