Romgaz, the largest natural gas producer and the main supplier in Romania, is prepared for the winter season and can ensure the continuity of activity in terms of natural gas production, Robert Chirca, Romgaz production and exploitation director, said on Monday at a specialist event."For this winter, I can tell you that for the 137 on-shore fields in our portfolio their 54 drying stations and 16 compression stations have undergone the annual revision process, capital repairs to ensure continuity in natural gas production. I can tell you that for the 2,900 wells in our portfolio, the works planned to happen - I mean the capital repairs and necessary works to keep up production and to fit into the strategic decline of 2.5% - are on schedule and will be completed by the end of this year. I can tell you, statistically, several hundred capital repairs, revisions and technological revisions have been carried out at company level and we are ready for the wintertime," said the Romgaz official.According to him, the company faced challenges during the year, but no problems are foreseen in the coming period."There were challenges. Throughout the year, we have had to deal with challenges in terms of establishing and also supplying safety stocks in terms of spare parts for the compression and drying part, but 95% of them are completed. I don't see or at least we don't see any problems moving forward. From our point of view, we are ready for the winter of 2024 - 2025 and we are waiting for the next challenges," Chirica told an Energy Focus conference on the winter challenges 2024 - 2025 for the national energy grid.He added that Romgaz produces on average, somewhere around 83,000 boe or 12.5 million cubic meters per day.
The BET index, which follows the price movements of the most traded 20 companies listed on the Bucharest Stock Exchange (BVB), closed 2024 up 8.78% compared with the end of 2023. The BET closed at its highest end-of-year value since launch (16,720 points) but 11% below its all-time high of 18,800 points touched at the […]
2024 is almost over, and before making any predictions, hopes or wishes for 2025, I will take this moment to look back and remember the pics that stayed with me most in the past months. I will try to go in the order that I watched each, and I also included all trailers below […]
Update: The government will pass the ordinance covering measures aimed at reducing public spending and the budget deficit, prime minister Marcel Ciolacu announced. The PM said the country was facing “a difficult year ahead” and “we must quickly adopt measures that will protect Romania from possible major financial risks.” The tax on special constructions, which […]
The Government is scheduled to meet on Monday, December 30, to discuss the emergency ordinance covering measures aimed at reducing public spending and the budget deficit. The Ministry of Finance published the draft ordinance on Sunday, December 29. It is available here. Among the measures included in the draft ordinance, also known as "the austerity […]
Romania’s Ministry of Finance (MF) raised RON 2.6 billion (EUR 523.1 million) through its sixth Fidelis government bond issuance of 2024, setting an annual record of RON 16.4 billion...
UniCredit Bank, one of Romania's leading financial institutions and a member of the UniCredit Group, has announced the listing of a new corporate bond issue worth RON 750 million (EUR 150 mln) on the Bucharest Stock Exchange (BVB). The bonds, issued under the ticker symbol UCB29, are set to mature on November 22, 2029. The […]
