Europe / Caspian / CIS

Country profile: Romania

Location:

Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine

Climate:

temperate; cold, cloudy winters with frequent snow and fog; sunny summers with frequent showers and thunderstorms

Terrain:

central Transylvanian Basin is separated from the Plain of Moldavia on the east by the Carpathian Mountains and separated from the Walachian Plain on the south by the Transylvanian Alps

Size:

237500 sq. km total (Land area: 230340 sq. km Water area: 7160 sq.km)

Population:

22,246,862 (July 2008 est.)

Languages:

Romanian 91% (official), Hungarian 6.7%, Romany (Gypsy) 1.1%, other 1.2%

Government:

republic

Capital city:

Bucharest

Legal system:

based on civil law system; has not accepted compulsory ICJ jurisdiction

Currency:

"new" leu (RON) was introduced in 2005; "old" leu

Licensing:

Country profile

The countries of Southeastern Europe--Romania, Bulgaria, and Moldova-- have had problems transitioning from centrally-planned economies to a market-based economies. Both Bulgaria and Romania were significantly affected by the economic embargo placed on Yugoslavia in the 1990s, suffering billions of dollars in GDP losses due to disrupted trade, transport, and investment. While Moldova was less affected economically by the wars in the former Yugoslavia, its own civil war began soon after its independence, paralyzing the country's already stagnant economy. Armed conflict has subsided, but Russian settlers and Moldovans on the left bank of the Dnistr River still maintain the secessionist Transdnistrian Republic, created when the fighting reached a stalemate.

Both Romania and Bulgaria joined the North Atlantic Treaty Organization (NATO) in March 2004 and aspire to membership in the European Union (EU). Romania concluded energy negotiations necessary for EU membership in June 2004, and in October 2004, the European Commission (EC) designated Romania a “functioning market economy,” another prerequisite for EU membership. In February 2005, Bulgaria announced that its energy sector was 66 percent privatized in accordance with EU directives. Both Romania and Bulgaria are working with the International Monetary Fund (IMF) to bolster their economies, showing solid real gross domestic product (GDP) growth rates in 2005 of 4.1 percent in Romania and 5.5 percent in Bulgaria. Unlike Romania and Bulgaria, Moldova is not currently being offered EU membership and has only received an Action Plan within the European Neighborhood Policy (ENP).

Implementation of the EU-Moldova Plan will require a modernization of the economy and a more welcoming environment for investment and business. Since privatization was initiated in 2000, Moldova’s GDP has continued to increase, with GDP growth of 7.1 percent in 2005. Despite the rapid growth of recent years, Moldova remains one of the poorest countries in Europe.

Energy production and consumption

Oil

Gas

Production:

122,700 bbl/day (2005 est.)

12 billion cu m (2007)

Consumption:

236,000 bbl/day (2005 est.)

17 billion cu m (2007)

Exports:

92,510 bbl/day (2005 est.)

Imports:

181,100 bbl/day (2005 est.)

4 billion cu m (2007)

Reserves:

955 million bbl (1 January 2006 est.)

96 billion cu m (1 January 2006 est.)

Major fields:

Romania - recent news

26 Jun 26	Romania: Nordex Group reaches further milestone in Romania’s Pestera II wind project with start of turbine manufacturing and site preparation Following last year’s order intake (Q4/2025) for the 392 MW Pestera II wind farm project in Romania, the Nordex Group has reached the next execution milestone with the start of turbine manufacturing and initial site preparation works. In parallel, contracts for certain long-lead items, such as anchor cages, have already been placed to ensure the timely execution of the project.
25 Jun 26	Romania: Copenhagen Infrastructure Partners reaches financial close on Pestera II onshore wind farm in Romania Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (GMF II), has announced financial close for the 392 MW Pestera II onshore wind project in Constanta County, Romania. The transaction marks one of the largest renewable energy project financings in Romania and the wider Central and Eastern European region to date.
05 Jun 26	Romania: EBRD backs large-scale battery storage project in Romania The European Bank for Reconstruction and Development (EBRD) is supporting the development of a large-scale battery energy storage system in Scornicesti, Romania. The Bank will provide up to €44 million in financing to support the project’s development, construction and operation, on a non-recourse project finance basis.
27 Apr 26	Romania: Three wind projects of around 300 MW enter the execution phase under the OMV Petrom–RNV Infrastructure partnership OMV Petrom, the largest integrated energy producer in South-East Europe, and RNV Infrastructure have announced that three wind projects, with a total installed capacity of approximately 300 MW, are entering the execution phase following the adoption of the final investment decision (FID).
14 Mar 26	Romania: Fluor expands European footprint with office in Bucharest to advance next-generation Nuclear Energy Projects Fluor Corporation has celebrated the opening of its newest European office in Bucharest, Romania. The new office will serve as a hub to enhance the company’s capacity to deliver advanced nuclear energy projects across the region.