Petrol Goes Over 6 Lei
Amid heightening tensions in the Arab world, the price of the oil barrel exceeded 124 dollars on foreign markets. As a consequence, Petrom and Rompetrol are already charging 6 lei/litre (1.5...
View ArticleBNR To Raise Inflation Forecast In May
Adrian Vasilescu, adviser to the central bank governor said that Romania’s central bank will revise upward its forecast for the year-end inflation at a quarterly report due May, prompted by surging...
View ArticleRompetrol Registers $0.9M Net Profit In The First Quarter Of The Year
On Tuesday, Romania’s second largest oil group Rompetrol said it registered a net profit of $900,000 in the first quarter of the year, from a loss of $56.2 million in the year-earlier period. The...
View ArticleOil Price Trading Near USD 123
Brent oil prices are going up again. In Tuesday’s trading session price was nearing USD 123 a barrel, after the IEA stated that OPEC needs to raise its output around June to contain further oil prices....
View ArticleRomanian Private Consumption Could Be Shadowed By Tax Increases
According to a draft convergence program for 2011-2014, Romanian private consumption is set to pick up in the coming period, after sharp reductions in previous years. Even so, recovery could lag behind...
View ArticleSterling Resources Complains About Romania’s Opaque Drilling Permission System
On Thursday, the Canadian oil and gas company Sterling Resources declared it cannot operate in its Black Sea perimeters at the present time. The main reason is that local authorities are unable or...
View ArticlePurchasing Power Will Not Get An Impulse Sooner Than 2012
The biggest company on the oil market, Petrom, posted growth of business and profit even though the market it operates on continued to go down. Pump price hikes and cost cuts helped it turn in its...
View ArticleRomania’s Oil Reserves Third In EU
Capital.ro reveals that Romania’s estimated oil reserves of 600 million barrels are the third largest in the European Union. The quantity found in Romania represents around 11 % of total EU reserves....
View ArticleRomanians Turn To LPG For Their Cars
These days, more and more Romanians are fitting LPG systems to their cars. The explanation is that the liquefied petroleum gas is half the price of petrol and the investment can be recouped in about a...
View ArticleTraian Basescu: Romania “has the obligation to exploit shale gas and oil”
Romania’s President Traian Basescu says the country has to reform its energy policy and start drilling for offshore oil and shale gas, as the Nabucco West pipeline project lost the race for Azeri gas...
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