Premier Ciuca announced on Thursday, in the context of the EC decision on gas consumption, which will be reduced by 15% throughout the community bloc as of August 1, 2022 until March 31, 2023, and there is no fear that Romania may not have the gas needed for the 2022-2023 winter. The premier also announced that 1.6 billion cubic meters had been stored until yesterday. “The measure is a precaution and with it we need to maintain solidarity at EU level and Romania was part of the decisions which consolidated solidarity within EU,” the premier added. “I can say now that yesterday we exceeded 1.6 billion cubic meters in storage, and the evolution of daily storage is consisting and encouraging,” the premier showed, saying that “as of November 1 we will reach 80% of capacity.” “We should have reached 46% until August 1, 57% by September 1. 66% until October 1 and 80% by November 1. Today we have exceeded the assumed percentages and at the end of last week we had 200 million cubic meters over what we had in the same period of 2021. At present there is no fear that Romania may not have gas needed for 2022-2023 winter,” the head of the executive showed. According to the premier, this decision on reducing gas consumption will be made according to “gas quantities existing in storage before the beginning of winter” and added that from data he had read that morning, Germany had announced that gas supply had resumed. “For now, our preoccupation is to to ensure the necessary gas and coal resources to have energy in winter. Lignite exploitation should extract and store more coal, to prevent last year's situation when we had stored a quantity which could ensure the functioning of coal plants for no more than 3 to 5 days. All these data depend on weather conditions,” Ciuca said.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
