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.
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
