Romania produced, in the first four months of 2024, a quantity of crude oil of 903,900 tonnes of oil equivalent (toe), by 36,100 toe less (-3.8%) compared to that in the similar period of the previous year, according to data centralized by the National Institute of Statistics (INS).In the mentioned period, the imports of steel exceeded 2.18 million tep, being 552,400 tep below those recorded in January-April 2023 (-20.2%).According to the latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP), Romania's crude oil production will be on a downward trajectory until 2026, with an average annual rate of -2.2%, a consequence of the decline natural deposits and maintenance of existing production units.On the other hand, for the crude oil import, CNSP estimates an increase in the mentioned period with an average annual rate of 4.1%.The refining sector in Romania consists of four operational refineries: Petrobrazi (owned by OMV Petrom), Petromidia and Vega (owned by Rompetrol) and Petrotel (owned by Lukoil) with a total operational capacity of approximately 12 million tonnes per year.According to the project of the Energy Strategy of Romania 2025-2035, with the perspective of 2050, Romania has a capacity to process crude oil greater than the domestic demand for petroleum products. However, Romanian refineries purchase the national production of crude oil and import about two thirds of what is needed. In 2023, Romanian refineries processed 10.2 million tonnes of crude oil and additives, of which 2.8 million tonnes were domestically produced and 7.4 million tonnes were imported.
Chinese bamboo products manufacturer Long Bamboo Technology Group Co., a supplier to Swedish retailer IKEA, has entered the Romanian market to establish a furniture production facility, Profit.ro reported on May 8. The company, headquartered in Hong Kong and with manufacturing...
The Mangalia shipyard in Romania is resuming operations gradually following its entry into insolvency in 2024 after Dutch shipbuilding group Damen withdrew from the joint venture. The shipyard's management has introduced measures to stabilize finances and revive activity, with employee salaries to be paid in phased installments,
The Belgian manufacturer of metal roofing systems Metigla, with a factory in Ceptura, Prahova County, announced a EUR 15 million investment plan in expanding production, automation, and employees. "In 2025, we will consolidate our presence in key markets and gradually expand this model to more European countries. We invest in sustainable products, automation, teams, and […]
Chinese electric vehicle manufacturer BYD officially launched operations in Romania, introducing its full-electric and plug-in hybrid models to the local market, Economica reported on May 8. The move is part of the company’s broader strategy to expand across Europe. BYD’s initial retail presence includes showrooms in...
The local currency kept losing ground on May 9 despite reported interventions by the central bank. The interest rates rose, and the Stock Exchange’s indices resumed the decline on May 9 after a modest gain on the previous day. The development suggests a drain on liquidity from the money market, possibly amid hybrid interventions by […]
Ilie Bolojan, the interim president of Romania, has sent his "warmest congratulations" to Pope Leo XIV in a message posted on X. "Warmest congratulations to His Holiness Pope Leo XIV upon the election to the Chair of Saint Peter. May he have a long reign and guide the faithful all over the world with wisdom […]
