Tag: crude

  • May 19, 2024

    May 19, 2024

     

    OIL Romania’s crude oil output dropped 3.4% in the first quarter of 2024, while imports went down 15.1% compared to the corresponding period in 2023. According to the National Statistics Institute, in Q1 2024 Romania produced over 682,000 tonnes of equivalent oil less than in the corresponding period of 2023, while crude imports exceeded 1.7 mln toe. According to the National Strategy and Forecast Commission, Romania’s crude output will be on a downward trend until 2026, with an average annual drop of 2.2%, as a result of the natural decline in deposits. On the other hand, the Commission predicts an increase in crude imports by an annual 4.1%.

     

    MUSEUMS Around 250 cultural institutions in Romania were opened last night as part of the White Night of Museums, organized concurrently in several European countries. Taking part in the anniversary 20th edition of the event were museums, historic house museums, art galleries, creative studios, theatres, opera houses and philharmonic orchestras in over 70 towns and cities in Romania and several in neighbouring Moldova. Most participating venues were in the capital city Bucharest, and in Sibiu, a former European Capital of Culture in 2007, several museums and other institutions could also be visited free of charge. Exhibitions, interactive tours, performances, street events and concerts were organized on this occasion. The number of participating institutions was nonetheless smaller than usual, because of personnel protests over salary levels. On Saturday, hundreds of museum staff picketed the Ministry of Culture and the Government building. They say they feel abandoned by the government and demand a fair salary structure. PM Marcel Ciolacu has recently announced the culture ministry submitted proposals concerning museum staff pay raises. The finance ministry will analyse the proposals, the PM promised, and next week salary increases may be granted.

     

    NUCLEAR The Cernavodă nuclear power plant’s Unit 1 has been shut down for regular maintenance works today, Nuclearelectrica announced. The company promised the works will be safe for the power plant personnel, for citizens and for the environment. The Cernavodă nuclear power plant, the only one in Romania, has 2 operational units with an installed production capacity of 700 MW. The 2 reactors in Cernavoda cover around 20% of Romania’s energy consumption. The plant uses the Canadian technology CANDU 6 (Canadian Deuterium Uranium), using natural uranium as a fuel.

     

    REFUGEES The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) estimated on Saturday that 800,000 people have fled the clashes in Rafah since May 6, when the Israeli army launched land operations in this town in the south of Gaza, France Presse and Reuters report. According to the Agency director, Philippe Lazzarini, all these people were forced to leave their town without benefiting from safe passage or protection, and are heading for areas where water resources and hygiene conditions are poor. On the other hand, Austria announced it would resume financing for the UN agency for Palestinian refugees, suspended following Israeli claims that Agency staff were involved in the Hamas attack on October 7, AFP writes. As a result of Israel’s accusations, around 15 states suspended their contributions to this UN agency. Many of them, including Germany, Sweden, Canada and Japan, have since resumed donations.

     

    TENNIS The Romanian tennis player Gabriela Ruse (aged 26, no. 148 WTA) failed to qualify for the Trophee Clarins tournament final in Paris. On Saturday she was defeated by Emma Navarro of the US (aged 22, no. 22 WTA), 6-0, 6-2. In the doubles competition, Monica Niculescu/Lin Zhu (Romania / China) were outperformed in the final by Asia Muhammad (USA)/Aldila Sutjiadi (Indonesia), 7-6 (7/3), 4-6, 11-9. Other Romanian players taking part in the Paris tournament were Simona Halep (who retired in the second set of the match against McCartney Kessler of the US) and Ana Bogdan (who also retired in the match against the French Varvara Gracheva). (AMP)

  • Partial embargo on Russian oil 

    Partial embargo on Russian oil 

    Since the start of the Russian military invasion in Ukraine on
    February 24, Western countries have responded by a number of economic and
    diplomatic sanctions against Russia. The sanctions are designed to effectively
    counter Russia’s continued aggression on the neighbouring country.


    Convening
    in a summit in Brussels on Monday and Tuesday, the EU leaders agreed, after
    several hours of talks, to gradually ban Russian oil imports. The compromise
    negotiated with difficulty in Brussels bans only seaborne oil purchases for the
    time being, exempting pipeline deliveries following the opposition of Hungary.


    The measure
    is part of the 6th package of sanctions enacted by the EU since the
    start of the Russian-Ukrainian crisis.


    The president
    of the European Council, Charles Michel, said the measure, which will be
    enforced by the end of the year, immediately covers more than two-thirds of the
    Russian oil imports, cutting a huge source of financing for [Russia’s] war
    machine and delivering maximum pressure on Russia to end the war.


    Imports via the Druzhba pipeline,
    which also supplies Hungary, will be exempt from the ban in a first stage, after
    Budapest used its veto rights to hinder the adoption of the 6th
    package of EU sanctions for several weeks. Hungary’s domestic consumption is
    65% reliant on the Druzhba pipeline.


    Negotiations
    are scheduled as soon as possible to move towards banning the remaining of the
    Russian oil imports.


    Attending
    the summit in Brussels, the president of Romania Klaus Iohannis said Bucharest
    supported the new sanctions against Moscow.


    Meanwhile,
    the EU leaders also agreed to remove 3 Russian banks, including Sberbank, from the Swift
    global payments system and to ban 3 other state-owned Russian broadcasters. So
    far, 7 Russian banks have been denied access to the Swift platform which enables
    major banking operations such as interbank transfers.


    Also, a
    macro-financial aid package worth EUR 9 billion has been approved. The funds
    will allow Kyiv to cover its immediate cash demand and to keep its economy
    running. According to the Ukrainian authorities, the country needs EUR 5
    billion per month. The EU funding will take the form of long-term loans with subsidised
    interests. (AMP)