ECONOMETRIC MODELS OF OIL PRODUCTION IN ROMANIA
Autor (i): Dr. Victor Platon; Dr. Andreea Constantinescu
JEL: Q32, Q35, C30
Cuvinte cheie: Oil production, statistical modelling, simple regression, polynomial equation
Abstract:
Oil production is a major topic in the Europe 2030 Energy Strategy. The evolution of oil production during 1990-2018 is a fair indicator of the state of the Romanian national economy and of the trends at European level. The steady decrease in the quantities of extracted oil both at EU level and in Romania is representative for the new trends regarding energy resources and atmosphere pollution. It is a scientifically proven fact that oil production is a source of CO2 emissions, the main pollution factor in the world. The research presented in this article aims to identify an integrative model for oil production in Romania. This model will allow a better management of Romania's energy resources and the possibility of optimizing them in the future. Three time series models have been developed to model oil production. From their analysis, the most significant model was chosen, with the best indicators. The article aimed at achieving the following results: analysis of the structure and volume of oil production at national and EU level; achieving an integrative model of oil production in Romania; conclusions on oil production in Romania.
Oil production is a major topic in the Europe 2030 Energy Strategy. The evolution of oil production during 1990-2018 is a fair indicator of the state of the Romanian national economy and of the trends at European level. The steady decrease in the quantities of extracted oil both at EU level and in Romania is representative for the new trends regarding energy resources and atmosphere pollution. It is a scientifically proven fact that oil production is a source of CO2 emissions, the main pollution factor in the world. The research presented in this article aims to identify an integrative model for oil production in Romania. This model will allow a better management of Romania's energy resources and the possibility of optimizing them in the future. Three time series models have been developed to model oil production. From their analysis, the most significant model was chosen, with the best indicators. The article aimed at achieving the following results: analysis of the structure and volume of oil production at national and EU level; achieving an integrative model of oil production in Romania; conclusions on oil production in Romania.
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