Romania can become a “Blue hydrogen valley”in EU, as it has gas resources, carbon storage capacities and varied industry which can use this resource, said Ionut Ciubotaru, vicepresident for business development, OMV Petrom, at a conference on Tuesday. “At present we are the second gas producers in EU after the Netherlands and we have a big opportunity to become the first largest natural gas producer in EU, if we access gas resources in the Black Sea, with all advantages this investment can bring along in point of jobs, state budget incomes and Romania's independence from imports. If we do not have these resources, Price Waterhouse Coopers foresees that 50% of the necessary has consumption will come from import in 2030,” Ciubotaru said at the conference “Hydrogen Project- first steps in Romania,” organized by Energynomics.ro. Moreover, Romania can store carbon dioxide in empty crude and gas reservoirs. “Obviously, tests must be done and the law adjusted, but there is this possibility, we should take it into account and have in view that we may become one of the largest carbon dioxide stock owners in EU,” the OMV Petrom official continued. At the same time, Romania has a varied industry where hydrogen can be used. “Romania has a very good industrial diversity, which leads us to the idea that maybe we will have local hydrogen consumers in the future. I am mentioning all these three arguments for a concept we are trying to promote, that Romania can become a “Blue hydrogen valley in EU,” Ciubotaru added. In his turn, Ioan Iordache, the CEO of the Association for Hydrogen Energy, said that hydrogen can be stored in salt mines on a long run. “We are talking about storing hydrogen in underground salt caves. Storing on a long run, in large quantities. In Romania we have this potential and we are among the first to have studied and written about it,”Iordache showed at the same conference.
The total number of recipients of social benefits for retired persons was, in October 2024, 925,865 – 2,322 lower compared to the previous month, according to the data provided by the National Public Pension House (CNPP) and quoted by Economica.net. Of these, 832,693...
The team of Kosovo abandoned during the stoppage time in the 92nd minute of the football match against Romania in Bucharest counting for the Nations League, accusing the Romanian fans of "racism" after the later sang Serbia-related chants. The Romanian team remained on the pitch for 74 minutes until the referee decided to put an […]
One week before the first round of the presidential elections in Romania and two weeks before the parliamentary ballot, the leader of Romania's junior ruling Liberal Party (PNL) and a presidential candidate, Nicolae Ciucă, took one more chance to argue vocally that only his party can send the senior ruling Social Democratic party (PSD) and […]
International rating agency Moody's has affirmed the ratings assigned for the first time in 2023 to Romanian financial group Banca Transilvania (BVB: TLV) and improved the outlook on the long-term deposit (Baa2) and issuer ratings (Baa3) to positive from stable. Low dependence of market funding and high profitability balances against risks posed by foreign currency […]
The number of dissolved companies in Romania increased by 6.9% year-on-year in the first nine months of 2024, reaching 30,094, up from 28,146 in the same period last year, according to data from the National Trade Registry Office (ONRC). Bucharest recorded the highest number of dissolutions at 6,184, marking a 5.4% y/y increase,
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, announced it recorded in the first nine months of 2024 a gross turnover of USD 3.57 billion and an operational result (EBITDA, an indicator that measures the company's profitability before deducting depreciation, interest, fees, and taxes) of about USD 125 million. The financial results were impacted […]
