Romgaz Group recorded a consolidated net profit of RON 1.24 billion in Q1 2024, 28% higher than in the same period last year, according to data sent by the Bucharest Stock Exchange (BVB).According to the source, Romgaz reported a turnover of RON 2.27 billion, down 21.86% compared to the same period in 2023, as a result of a 6.68% decrease in gas volumes delivered, an 18.33% decrease in electricity production and a 9.1% reduction in revenues from warehousing and storage services.However, revenues from the sale of natural gas account for about 85% of the total turnover in Q1 2024, revenues from the sale of electricity - 4.8% and revenues from warehousing and services about 6%.The estimated national natural gas consumption for Q1 2024 was approximately 35.42 TWh, about 5.5% higher than in Q1 last year.According to the report, natural gas production recorded in Q1 2024 was 1.29 cubic metres, 4.39% higher compared to Q1 2023.The amount of electricity produced was 263.832 GWh in Q1, 18.33% lower than the similar period last year (323.04 GWh).According to the source, of the total consumption, about 5.21 TWh was covered by imported gas, and the difference of 35.42 TWh by domestic gas, to which Romgaz contributed with 13.69 TWh, which represents 33.69% of the national consumption and 38.65% of the consumption covered by domestic gas.
Former prime minister Victor Ponta, still a member of the Social Democratic Party (PSD) and an adviser to PM Marcel Ciolacu despite his pro-sovereignist statements, confirmed that he does not rule out entering this year's presidential race. He said, "I have no one to vote for," and indicated that the current ruling coalition has no […]
Romania’s gross domestic product (GDP) per capita, adjusted for purchasing power parity (PPP), reached 78% of the European Union average in 2023 (74% in 2022), according to data from the statistics office INS confirmed by Eurostat. Poland and Hungary followed closely, both at 77% of the EU average. The lowest GDP per capita relative to the EU average […]
Romania’s economy will accelerate to a 1.8% growth rate in 2025 and 2.5% in 2026, according to the forecast issued by UniCredit for the region. The strongest growth rate this year is expected in Serbia (over 4% y/y), with Slovakia (+1.6%) marking the weakest performance. Wages will continue to grow in the region, outpacing inflation and […]
The volume of natural gas used by Romania in the first eleven months of 2024 decreased by 2.7% y/y to 8.6 million tonnes of oil equivalent (toe) while its production edged up by 1% y/y to 6.9 million toe, according to data published by the statistics office INS. Imports of natural gas thus decreased by […]
The detergent and cleaning products manufacturer Sano, owned by the family of Israeli businessman of Romanian origin Bruno Landsberg, is preparing to develop a new logistics center near its factory in the western part of Bucharest (Pantelimon), for the storage of hygiene products, according to documents consulted by
The American FMCG group P&G increased the capital of its detergent factory Detergenti SA in Romania by RON 90 million (EUR 18 million) last year in November, according to Economica.net quoting data from the Trade Registry. Detergenti SA is controlled by...
