The government approved on Wednesday the amendment and completion of Government Emergency Ordinance No. 64/2011 on the geological storage of carbon dioxide, setting measures in place for the rapid development of the necessary infrastructure in order to reduce greenhouse gas emissions.According to a government release, "the new regulations approved by the government will facilitate the rapid and efficient development of the infrastructure needed for the storage of carbon dioxide produced by industrial installations, by speeding up the authorization and approval processes in accordance with the climate goals pledged by Romania, and converging with those set at European level.""Capturing, transporting and geologically storing carbon dioxide will help the Romanian economy increase its competitiveness in the energy transition, preserve jobs in industries that generate carbon dioxide or, where appropriate, create new jobs. At the same time, they will contribute to maintaining the continuity of heavy/energy-intensive industrial activity, which is difficult to decarbonize," the cited source states.This way, Romania updates its legislative framework to the most recent European regulations in the field."This is about the implementation of the EU Industrial Carbon Management Strategy, which requires the development of the carbon dioxide transport and storage infrastructure. This strategy is closely linked to the Net Zero Industry Act (NZIA), which aims to strengthen the EU's industrial capacities in order to achieve climate neutrality goals by 2050, and facilitates the implementation of critical infrastructures for the efficient management of industrial emissions," the cited source also shows.Romania is an important hydrocarbon producer, so that Romanian producers are required to develop an injection capacity of approximately 9 million tons by 2030, the second largest in the EU overall, the government emphasized.Also, the government mentioned that currently Romania has no element of the infrastructure needed for carbon dioxide capturing, transport, and storage projects. In order to achieve the European climate goals, Romania had to adjust its regulatory framework so that, in the period of time left until 2030, interested economic operators can develop such projects, the Executive explained.
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
The European Bank for Reconstruction and Development (EBRD) is lending up to EUR 29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme. The Bank’s investment will fund the renovation of up to 20 public buildings, including […]
This festive season, JW Marriott Bucharest Grand Hotel invites guests to embrace the extraordinary and transform each moment into a lasting memory. On New Year’s Eve, the hotel unveils The Grand Countdown — a luminous celebration of new beginnings, thoughtfully crafted across four distinctive venues, each with its own character and atmosphere. The night begins […]
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over ArcelorMittal Tubular Products Iași (AMTP Iași) by Metinvest B.V. of the Netherlands, part of the Ukrainian steel and mining group owned by Rinat Akhmetov, New Voice of Ukraine reported last week. Metinvest has...
