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.
Nuclearelectrica (BVB: SNN), the company that operates Romania’s only nuclear power plant – Cernavoda, reported a net profit of RON 1.7 bln (EUR 343 mln) in 2024, down 31% compared with the previous year. The company recorded 37.6% lower revenues from electricity sales due to lower average...
Investment company Solida Capital Europe entered the Romanian real estate market with the acquisition of the Victoria Center office building from Manova Partners, formerly Macquarie Group. The purchase price has not been disclosed. Victoria Center has a landmark position on Calea Victoriei, in the heart of Bucharest’s CBD. It offers roughly 8,600 square meters of […]
Romania’s power grid operator Transelectrica (BVB: TEL) and gas grid operator Transgaz (BVB: TGN) both posted higher revenues and strong profit increases in 2024 as they benefitted from higher regulated tariffs for their core operations. Transelectrica...
The leader of the center-right European People's Party (EPP) group in the European Parliament, Manfred Weber, has expressed confidence in Romania's democracy and institutions amid recent developments connected to far-right politician Călin Georgescu. "The EPP stands by its partners in Romania to ensure free and fair elections, the foundation of any strong democracy," Weber stated. […]
MedLife achieved a Pro forma consolidated turnover of RON 2.76 billion in 2024, up 25% compared to 2023, moreover, recording in the last five years increases in turnover of over 20%. Despite the growth and consolidation of its leading position, the company navigated cautiously last year, taking into account the increase in debt and the […]
At Café Athenée, a timeless noble tradition comes to life with the Afternoon Tea Experience, now available every day from 3:00 to 6:00 PM, upon reservations made at least 24 hours in advance. Guests can indulge in a selection of finely crafted pastries, delicate finger sandwiches and premium teas, curated to create a truly elegant […]
