Romania has imported, in the first eight months of 2021, 4.837 million tons of oil equivalent (toe) in oil, by 452,000 toe (10.3) more than the quantity imported in the similar period of 2020, according to data centralized by the National Institute for Statistics (INS).The oil production exceeded 2.085 million toe, by 4.7 pct (102,400) lower than in the previous year.According to estimates of the National Strategy and Forecast Commission, oil production is estimated to total this year 3.275 million toe (minus 3.2 pct over 2020) and 3.2 million toe (minus 2.3 pct) in 2022. Imports are estimated at 8.425 (plus 20.7 pct) this year, and 8.815 million toe in 2022 (plus 4.6 pct).The Energy Strategy project, published on the website of the Energy Ministry, estimates that oil production will maintain its slow decline between 2030 and 2050, from 22 to 13 TWh (1.93 to 1.15 million toe). Increasing dependence of imports cannot be avoided in the medium and long-term except by encouraging exploration and production activities, as well as by increasing the efficiency of fossil fuel consumption, the project mentions.
Romania’s government adopted in its January 10 meeting a decision granting an extra day off to public sector employees at the beginning of May. Thus, Friday, May 2, will be an official day off for public sector workers, linking the legal holiday of May 1 (Labor Day) with the weekend (May 3-4). This...
Supporters of former presidential candidate Călin Georgescu gathered outside the Parliament Palace in Bucharest, which houses the Constitutional Court, on January 10, demanding a rerun of the second round of the presidential elections. The protest, dubbed "The Great Judicial Union," was initiated by Georgescu, who called on his supporters to challenge the election annulment, as […]
International Workplace Group, a provider of hybrid working solutions, recently announced the opening of a modern flexible workspace in Bucharest. Located in the Vastint Business Garden building, this new location comes to meet a demand for shared workspace in the area. The new Spaces center also offers a variety of amenities, including restaurants, fitness centers, […]
Over 7,800 lighting fixtures on 34 boulevards in Bucharest are set to be replaced by summer to more energy-efficient options, according to mayor Nicușor Dan. The general mayor mentioned that so far, 4,830 public lighting sources have been renewed with the help of funds from the Environmental Fund Administration. Additionally, the Bucharest City Hall managed […]
Romanian prime minister Marcel Ciolacu announced during the first government meeting this year that over 200 kilometers of highways and express roads are planned to be inaugurated in 2025. Among the key projects highlighted was the Focșani-Brăila expressway, valued at over EUR 1 billion, for which multiple bids have been submitted,
SevenX Ventures increased its stake in Holde Agri Invest, one of Romania’s largest agricultural land operators, the company announced. At the same time, Leonard Leca, a member of Holde’s Board of Directors and an investor in SevenX Ventures, increased his holding in SevenX Ventures to 71%, resulting in a reduction of Vertical Seven Group’s stake […]
