The oil industry in Southeast Europe (SEE) in the period 2011-2013 underlined the dependency of the countries in the region on crude oil imports, which exceeded considerably domestically produced oil. Five countries from the region had proven oil stocks. Romania owned the largest reserves, followed by Albania.
In 2013, total oil production in the region was 165,587 barrels per day, up 2.40% compared to the previous year. Romania continued to lead in SEE in terms of crude oil production. Its output was larger than the combined output of the rest of the SEE countries.
Demand for petroleum products in the region increased just slightly, with total consumption of 545,270 bbl/d in 2013. Romania, Bulgaria and Croatia together had 72.12% of the region’s petroleum products consumption.