Romanian gas producers will no longer be taxed based on the reference price of the Vienna gas market, but the Romanian market price will be take into consideration, the Acting Minister of Energy, Virgil Popescu, declared on Wednesday, during the Focus Energetic conference."We have a complicated winter as a result of market turbulence. I am convinced that we will get through it fine, the stocks are within parameters. There are gas stocks of 2.2 billion cubic meters, coal is also within limits, as well as water reserves from the lakes," Popescu said.According to him, Romgaz production has gone up by 20%, but OMV Petrom reported a drop well below the natural decline limit.According to the financial results, OMV Petrom gas production has gone down by 11% during the first 9 months."Unfortunately, the other large producer had a drop and I am asking for measures to be taken regarding the cause. It cannot drop that much. We understand that there is a natural decline, but the drop should be within limits, and OMV Petrom's production drop is well beyond the natural decline limit, even if we do understand that there are distortions in the market," Popescu continued.He showed that he does not believe it is normal for Romanian producers to pay taxes based on the gas price in Vienna and that he will change this."I talked with the Prime Minister and the Minister of Finance and we will adjust this, so that the price in Romania to be a reference price, but I want good faith from Romanian producers for stabilizing the production and increasing it," the Government official also said. (Photo:https://www.facebook.com/photo/?fbid=443522297129104&set=pb.100044140131007.-2207520000..)
The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]
The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]
Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives. The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]
Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages. The festival is staged in partnership with […]
More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat. In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]
The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]
