Romania Feed

OMV Petrom (SNP.RO), the largest Romanian oil and gas company, said Thursday in a report its total hydrocarbon production stood at 141,300 boe/day in the third quarter of 2020, compared with 150,300 boe/day in the same period last year and with 147,300 boe/day in the second quarter.

APX hotel group of Romanian investor Adrian Polec, which owns four hotels in Bucharest and the rest of the country, will open its fifth hotel, in Sibiu, next year.

Sales of large plots of farmland were forced to „thaw up” after a half-year hiatus with the coming of the fall, as Romanian farmers put up their land for sale, due to the drought that caused serious losses and the lack of capital to keep going, businesspeople in this sector say.

Flanco Retail, one of the largest players on the local electro-IT market, introduces the pick-up in store service across Romania, which entails the delivery of products ordered online in any store selected by the customer, across the company’s entire network.

The number of real estate deals in Romania stood at 48,568 in September 2020, 4,806 more than in August 2020, data from the national cadastre agency ANCPI showed Wednesday.

The Raul Doamnei - Eroilor section of the M5 metro line, inaugurated in September, will shorten travel time for 150,000 residents and almost 20,000 employees working in office buildings located in the Eroilor - Progresului – Politechnica areas, Cushman & Wakefield Echinox said Wednesday.

Romanian private airline Blue Air said Wednesday it canceled flights from Bacau airport scheduled for October 9-12, as the airport extended its closure period for modernization works.

Lion’s Head Investments, which owns the Oregon Park office project in Bucharest, has appointed Anca Simionescu, former development manager at Forte Partners, country manager for its Romanian operations.

Romania ranks again 45 th out of 163 countries and is surpassed by all the other EU member states, according to the 2020 Social Progress Index, which analyzes the quality of life and social wellbeing and is conducted by the non-profit organization Social Progress Imperative with the support of Deloitte. Romania registers a score of 78.35 points out of 100, slightly higher than last year, which places it among the ranking’s third category countries, after Barbados, Bulgaria and Mauritius.

Pharmaceutical giant GlaxoSmithKline, which has been operating in Romania for almost 30 years now, has decided to close its pharmaceutical representative office in the country.

Romania’s future retirees, or 7.6 million people who pay 3.75% of their monthly gross income into a pension account have become – unknowingly for most of them, the largest investors on the Bucharest Stock Exchange with significant stakes in listed companies.

Courier services company FAN Courier has invested EUR4 million in 2020 to fully replace its fleet of personal digital assistants (PDAs) which will get into the hands of its employees until the middle of October 2020.

Alro Slatina (ALR.RO), the largest aluminum producer in Romania, has summoned its shareholders on November 10, 2020 to approve the concluding of an addendum to the credit facility agreement worth USD$235 million, concluded on December 14, 2015 by the company, as borrower, and a Syndicate of Banks coordinated by Raiffeisen Bank International, per a stock market report.

Bog’Art Residential has bought two plots of land of 6,500 square meters in northern Bucharest, from OMV Petrom, where it will develop a residential compound with 130 apartments.

Asking prices for housing in Romania declined 0.9% on the month in September, after 0.5% monthly growth in August, to an average of EUR 1,304/square meter, according to a housing market report by Imobiliare.ro released Tuesday.

MOL Romania, part of Hungary’s oil group MOL, invested approximately $200 million in organic expansion and modernization of its retail network since entering the local market 25 years ago.

Raytheon Missiles & Defense, one of four businesses of Raytheon Technologies, has placed an order to Romanian aircraft parts maker Romaero for the manufacturing of components for the Patriot antimissile defense system.

Kastamonu Romania (formerly Prolemn), held by one of the leading wood processing businesses in Turkey Kastamonu Entegre, posted 290 million lei (some EUR60 million) revenue in the first half, almost flat on the same time last year.

Israel’s AFI Europe, South Africa’s NEPI-Rockcastle, Prime Kapital of Martin Slabbert and Oasis Retail Development & Consulting of Klaus Reisenauer and Kurt Wagner are the developers due to put about 160,000 square meters of shopping centers on the map of Romania by yearend, none of which in Bucharest, though.