The amendments have been expected for years to unlock several investment projects in the country’s Black Sea perimeters that could bring in 6 bcm of gas a year from 2027.
Romania’s GDP increased by a real 6.5% y/y in the first quarter of the year, surprising analysts who had expected more damage from the war in Ukraine.
Two state-controlled energy companies in Romania — Romgaz and Nuclearelectrica — boasted record profits in the first quarter of this year helped by the high natural gas and electricity prices.
The deterioration in output was visible in March, the first month after the outbreak of the war in Ukraine, at -1.6% y/y.
The European Commission is considering raising its renewable energy target for 2030 to 45% in new green plans to be published later in May.
The war in Ukraine has interrupted grain exports from the country and could create a global food crisis as vulnerable wheat importing countries in Africa and the Middle East face shortages and rising prices.
Five questions on the minds of business leaders and policymakers in Romania.
Renewables are again set to break global records in 2022, with 320 GW of new capacity forecast to come online and new solar projects in China and Europe driving growth.
The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.
Southeast Europe is split over the issues of sanctions on Russia and military aid to Ukraine, with some states firmly in the western camp, some staying neutral and others internally torn.
Defence ministry says no signs Moldova is in danger after The Times reported Russia has already decided to attack the Moldovan separatist republic of Transnistria.
“Here to Stay: Eastern Europeans in Britain” tells the story of the half million citizens of the new EU member states who have moved to the UK since the early 21st century.
Central and Southeast Europe's largest integrated recycling group set to expand to meet surging demand for recycling and sustainable products in the region.
Total global coal power capacity under development declined by 13% in 2021 to 457 GW, a record low, with the number of countries building coal plants falling from 41 in 2020 to 34 in 2021.
Russian GDP forecast to fall by 9-15% this year, while Ukraine's economy could collapse by 38-45%.
Romanian Transport Minister Sorin Grindeanu says transporting Ukrainian grain through the Black Sea remains the cheapest solution, despite the rising costs of insuring ships due to the war and the mines in the Black Sea waters.
Russian propaganda offensive after attack claims Romania is preparing to seize control of Russia-backed separatist republic in Moldova.
Russian GDP forecast to slump 12% in 2022, while Ukraine's GDP will halve. Bulgaria, Slovakia and the Baltic states will have two quarters of negative growth.
The corn harvest is estimated at 13.7mn tonnes for the 2021/22 marketing year in Romania, one of the EU's top two corn producers.
Central bank board member says prices "exceeded our darkest expectations" as annual inflation rate shoots up to 10.2%.