Poland: Orlen Upstream discovers new gas deposits

(Ratfink1973, CC)

Romania will benefit from higher allocation of EU funds

Lithuania: increase in new car sales

Poland

A subsidiary of Poland’s state-owned oil refiner and petrol retailer PKN Orlen, Orlen Upstream announced that it had discovered new gas deposits in the southeast Poland. As the Polish Radio reports, the stacked reserves, located in Podkarpackie province, hold around 2 billion cubic meters (bcm) of methane-rich gas (more than 98 per cent methane).

PKN Orlen’s CEO, Daniel Obajtek explained that extraction was expected to commence in around 2 years and might continue for 10-15 years.

Recently Orlen has discovered gas deposit with 1bcm of nitrogen-rich gas near the city of Bydgoszcz (Kujawsko-Pomorskie province).

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Romania

Romania will receive increased EU funding for small and medium enterprises (SMEs), health and social projects — the SEE News Corporate Wire informs. Under the country’s Regional Operational Program it will get additional EUR220m.

According to EC’s decision — the old programme “SME Initiative” will become a part of the Regional Operational Programme, with EUR150m. The additional EUR72.5m will be allocated to Priority Axis 8 — “Developing Health and Social Infrastructure” (to finance purchases of ambulances and medical equipment).

In total, in the period 2014-2020, Romania will benefit from EU funding of over EUR22bn through cohesion policy. EUR6.86bn is being allocated through the Regional Operational Programme.

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Lithuania

The Baltic Course informs that new car sales in Lithuania is rapidly increasing. According to the European Automobile Manufacturers’ Association, in the period January-September 2018 the number of new cars sold was up 27 per cent. In total — 24,300 new cars were sold. Lithuania is the second fastest grower in the European Union. In the period mentioned, sales grew faster only in Romania (up 31.5 per cent).

The Baltic Course informs that across the EU, car sales were up 2.5 per cent y/y reaching 11,952 million units. The most popular were Volkswagen cars (sales up 6.9 per cent — 1,344 million units).

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What’s up in indexes

BET (of Bucharest) increased from 8,534.34 index points Tuesday, October 16th to 8,599.44 index points Wednesday, October 17th. It’ up 0.76 per cent d/d and up 6.64 per cent y/y.

BUX (of Budapest) decreased from 37,445.67 index points Tuesday, October 16th to 37,399.00 index points Wednesday, October 17th. It’s down 0.12 per cent d/d and down 3.88 per cent y/y.

CROBEX (of Zagreb) increased from 1,776.55 index points Tuesday, October 16th to 1,778.05 index points Wednesday, October 17th. It’s up 0.08 per cent d/d and down 1.39 per cent y/y.

OMXR (of Riga) decreased from 947.50 index points Tuesday, October 16th to 947.15 index points Wednesday, October 17th. It’s down 0.04 per cent d/d and down 7.15 per cent y/y.

OMXT (of Tallinn) increased from 1,221.64 index points Tuesday, October 16th to 1,226.39 index points Wednesday, October 17th. It’s up 0.39 per cent d/d and down 0.81 per cent y/y.

OMXV (of Vilnius) increased from 667.88 index points Tuesday, October 16th to 671.04 index points Wednesday, October 17th. It’s up 0.47 per cent d/d and up 3.45 per cent y/y.

PX (of Prague) decreased from 1,088.44 index points Tuesday, October 16th to 1,087.86 index points Wednesday, October 17th.  It’s down 0.05 per cent d/d up 3.02 per cent y/y.

SAX (of Bratislava) closed at 336.01 index points Wednesday, October 17th. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and up 8.43 per cent y/y.

SOFIX (of Sofia) increased from 609.51 index points Tuesday, October 16th to 610.26 index points Wednesday, October 17th. It’s up 0.12 per cent d/d and down 9.07 per cent y/y.

UX (of Kyiv) increased from 1,698.18 index points Tuesday, October 16th to 1,738,23 index points Wednesday, October 17th. It’s up 2.36 per cent d/d and up 42.98 per cent y/y.  

WIG20 (of Warsaw) decreased from 2,216.80 index points Tuesday, October 16th to 2,199.53 index points Wednesday, October 17th. It’s down 0.78 per cent d/d and down 12.52 per cent y/y.

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