Romania produced, in the first four months of 2024, a quantity of crude oil of 903,900 tonnes of oil equivalent (toe), by 36,100 toe less (-3.8%) compared to that in the similar period of the previous year, according to data centralized by the National Institute of Statistics (INS).In the mentioned period, the imports of steel exceeded 2.18 million tep, being 552,400 tep below those recorded in January-April 2023 (-20.2%).According to the latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP), Romania's crude oil production will be on a downward trajectory until 2026, with an average annual rate of -2.2%, a consequence of the decline natural deposits and maintenance of existing production units.On the other hand, for the crude oil import, CNSP estimates an increase in the mentioned period with an average annual rate of 4.1%.The refining sector in Romania consists of four operational refineries: Petrobrazi (owned by OMV Petrom), Petromidia and Vega (owned by Rompetrol) and Petrotel (owned by Lukoil) with a total operational capacity of approximately 12 million tonnes per year.According to the project of the Energy Strategy of Romania 2025-2035, with the perspective of 2050, Romania has a capacity to process crude oil greater than the domestic demand for petroleum products. However, Romanian refineries purchase the national production of crude oil and import about two thirds of what is needed. In 2023, Romanian refineries processed 10.2 million tonnes of crude oil and additives, of which 2.8 million tonnes were domestically produced and 7.4 million tonnes were imported.
Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project. A young person will be able to establish or acquire […]
Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]
This year's edition of the George Enescu International Festival, the largest classical music event in the country, will feature performances from some of the top sopranos and mezzo-sopranos of the moment. Among them are Asmik Grigorian, Sonya Yoncheva, Kristine Opolais, Magdalena Kožená, Julia Lezhneva, Sarah Aristidou, Jennifer Holloway, Aylin Perez, Elsa Dreisig, Rachel Willis-Sørensen, Ruxandra […]
Globinvest, an asset management company from Cluj-Napoca, is set to launch an exchange-traded fund, or ETF, grouping together companies in the energy sector and several financial companies. Globinvest, a company with 30 years of experience on the Romanian capital market, will list the new entity on April 28 under the symbol GIBEFETF. Ilie Cenan, Chairman […]
Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD […]
The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes. Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]
