Minister of Foreign Affairs Lumini?a Odobescu had a meeting with the Minister of Foreign Affairs of Canada, Mélanie Joly, on Wednesday, July 10, 2024, on the margins of the NATO Summit in Washington. The two senior officials reviewed the excellent state of relations between Romania and Canada, focusing on cooperation within NATO and in the field of civil nuclear energy. The Romanian Minister expressed her interest in coordinating the efforts of the two countries to strengthen the transatlantic relationship, which is essential for the solidity of the rules-based international order. In this context, she mentioned the priority given by Romania to joint efforts to strengthen NATO's deterrence and defense posture on the Eastern Flank, particularly in the Black Sea region. The Romanian Minister also referred to the need to continue the coordinated approach to substantial and long-term assistance to Ukraine and Moldova. The two ministers agreed to intensify bilateral cooperation for the reconstruction of Ukraine and to counter hybrid threats to Moldova. The Romanian Minister of Foreign Affairs commended the traditional Romanian-Canadian collaboration in the field of civil nuclear energy and expressed the interest in continuing it in a mutually beneficial way, through the modernization of Unit 1 and the construction of Units 3 and 4 of the Cernavod? Nuclear Power Plant. On the occasion of the meeting, the two ministers signed the Joint Declaration of Enhanced Partnership between Romania and Canada. The main objectives of the document are to promote economic growth based on sustainable development and clean energy, a secure Euro-Atlantic area (including the Black Sea region) and a strong transatlantic relationship. To implement the Declaration, a Roadmap is planned, a working document that will facilitate cooperation between Romanian and Canadian ministries. The text of the Joint DECLARATION OF THE GOVERNMENTS OF ROMANIA AND CANADA ON THE ENHANCED PARTNERSHIP BETWEEN ROMANIA AND CANADA is available here: https://www.mae.ro/node/65123.
Romania's interior minister, Cătălin Predoiu, expressed cautious optimism about the country's prospects for full Schengen accession following a meeting scheduled for November 22 with Austrian interior minister Gerhard Karner. Speaking on local news channel Antena 3, Predoiu stated that "the pieces are quite well placed" for progress on accession with land borders,
Romgaz (BVB: SNG), the largest producer and main supplier of natural gas in Romania, will list its first bond issue, worth EUR 500 million and aimed to finance the Neptun Deep offshore gas project, on the Bucharest Stock Exchange on November 19. In October, Romgaz issued the first EUR 500 million tranche of a EUR […]
Left without heating after a coal-fired unit at Electrocentrale Craiova broke down, Ford Otosan’s automobile plant in southern Romania ceased operations on November 13, Profit.ro reported. The losses at the factory that is producing some 1,000 automobiles and 1,700 EcoBoost...
Bucharest Exchange-listed Premier Energy Group, active in the renewable electricity generation and energy supply activities in Romania and Moldova, announced its revenues rose by 25% y/y to EUR 816 million in January-September and by 61% y/y to EUR 303 million in Q3 alone, driven by both organic performance and strategic acquisitions. The net profit, however, shrunk […]
Romania's leading energy producer, Hidroelectrica (BVB: H2O), announced its output decreased by 22% y/y to 11.35TWh in January-September, citing both market conditions (a change in the regulations that resulted in volatile prices and volumes traded) and adverse hydrological conditions. The revenues contracted by 25% y/y to RON 7.2 billion (EUR 1.44 billion), roughly in line […]
Lower electricity production amid slightly higher domestic demand and the reliance on intermittent renewable resources led to increasingly more situations when Romania imports electricity at the maximum capacity of its interconnectors, although the net electricity deficit is in the range of only some 3% of total consumption. The power storage capacities can smooth supply and […]
