Oil and petroleum handling company Oil Terminal commissioned on Friday in Constanta a gas tank with a storage capacity of 55,000 cubic meters built at the company's South Storage Facility, at the exit of the city, with Energy Minister Sebastian Burduja attending.According to Oil Terminal CEO Sorin Ciutureanu, one of the reasons why the new tank was built outside the city is that of relocating the storage capacity from the 100-hectare inner-city Northern Storage Facility, to allow an urban regeneration project to be carried out on 38 hectares, which will come with "multiple benefits for the Constanta community, as well as for the company," a release states.The commissioning of the new storage capacity also marks 125 years of Oil Terminal activity, a company the Energy Ministry holds 87.75 percent of.Minister Burduja congratulated the company management for the investments made.Oil Terminal SA and Iulius Real Estate SRL signed last year an association agreement under which a 38-hectare area owned by Oil Terminal, that housed storage facilities for petroleum products and where the main business activity has been discontinued more than 10 years ago, shall be returned to the city as a sustainable urban area accessible to the entire community, contributing to the economic, touristic, social and cultural development of Constanta.At the 125th anniversary of the company, the construction of the 55,000 cubic meter tank at the South Storage Facility was finalized, complete with a new loading ramp for tank trucks, the technological installations were upgraded and made more flexible, so that Oil Terminal can move diesel via five berths, compared to two berths in the past years. Also, in a first, 150,000 DWT Aframax tankers will be operated for diesel unloading.Oil Terminal holds 45 percent of the domestic service market for crude oil imports via the Black Sea, over 60 percent for the export of petroleum products, and 90 percent for the import of black oil.
Rosavis Prod, a business founded in 2007 by the Vica and Constantin Mihăilă family in northeastern Romania at Roşieşti, Vaslui County, which raises 2 million chickens annually, is investing EUR 10.8 million in a feed factory, Ziarul Financiar reported. Out of this, EUR 6.5 million will come...
Telecommunications operator Digi Communications (stock symbol DIGI) has hired investment bank Rothschild to evaluate a possible listing on the Madrid stock exchange of its Spanish business, the publication Expansión wrote on September 12, citing anonymous market sources, according to Ziarul Financiar. ...
Romania’s current account (CA) deficit in rolling 12 months has narrowed for the second consecutive month to EUR 32.12 billion in July, according to the data published by the National Bank of Romania (BNR). The 12-month rolling CA gap has thus narrowed by EUR 0.5 billion from June, after it previously contracted by EUR 1.4 […]
Romania's minister of finance, Alexandru Nazare, has been on a working visit to Washington, DC, from September 11 to 13 to strengthen economic and financial dialogue with American partners and attract new investors in key sectors for Romania, such as energy, infrastructure, and technology, the Ministry of Finance announced. The agenda of the visit included […]
The minister of investments and European projects, Dragoș Pîslaru, announced on the evening of Friday, September 12, that Romania has officially submitted the renegotiated National Recovery and Resilience Plan (PNRR) to the European Commission, after which the formal approval by the Commission and then the decision of the ECOFIN Council will follow. Romania has currently […]
The main risk for Romania's macroeconomic balances rests in the budgetary area and are related to the commitment for full implementation of the first and second packages this year and in 2026 – but even under the best case scenario, the measures legislated so far would not bring the general government deficit lower than 6% […]
