Romania will reach 90 percent gas storage filling by the end of the summer season, and this will help for winter preparations, Franck Neel, OMV Petrom Executive Board member, responsible for Gas & Power, told a press conference on Wednesday.We know that the winters are no longer so cold. The trend is for winters to be milder, but there will certainly be days with peak consumption, when consumption will be very high, but not over the entire winter season. Anyway, we do not anticipate any kind of risk regarding the demand or supply side, neither in Romania nor in the region, said Franck Neel when asked by journalists about the way Romania is preparing for the winter season.According to the OMV Petrom official, the company is required to reach 5 TWh storage stock by the end of the summer, and is currently at 3.2 TWh.We injected a high capacity in July, so we are on schedule, I don't think there will be any problems. Demand in the first quarter was quite low due to the mild winter, but we saw an increase in demand during the summer, which is still good news. It means that industrial production is recovering. Our forecast is stable until the end of the year and we anticipate a fairly good recovery on the Business-to-Business side, which has been a bit behind last year, said Franck Neel.
Romania allocated 1.9% of its Gross Domestic Product (GDP) to environmental protection in 2024, the equivalent of RON 28 billion (some EUR 5.6 billion), according to data published on Friday, October 24, by the National Institute of Statistics (INS) and quoted by Agerpres. The largest share of spending went to waste recovery,...
Sorin Grindeanu, the interim leader of the Social Democratic Party (PSD), the largest in Romania’s ruling coalition, has attacked prime minister Ilie Bolojan whose resignation he asked unless a committee is set up with the participation of the Supreme Magistracy Council (CSM) and the High Court (ICCJ) on re-writing the magistrates’ pensions law recently rejected […]
The government of Romania approved the signing of an agreement and the establishment of a joint commission with the Republic of Moldova to coordinate all activities related to the construction of the new road bridge over the Prut river, in the Bumbata - Leova area, Profit.ro announced. Earlier this year, in April, the construction of […]
After the IPO conducted by Romanian cold-cuts producer Cris-Tim was heavily oversubscribed on the retail segment during the first days (when a discount applied), the institutional investors have already covered their segment with offers - while the price has still not increased significantly above the lower-end bound, according to
Romania's telecom operator Digi Communications (BVB: DIGI) announced on October 23 in a note to investors that it has increased the bond issue initially announced at EUR 500 million to EUR 600 million, setting an interest rate of 4.625% per year and maturity in 2031. Most of the money will be used for refinancing. The […]
The Ministry of Finance confirmed in a press release that Romania has obtained the agreement of the European Commission to replace the milestone in the PNRR regarding the reduction of the VAT gap and has avoided a loss of up to EUR 1 billion in grants in 2026. Following negotiations between Alexandru Nazare, minister of […]
