Microsoft, Amazon, and Google have reported no profits for 2023 in Romania, admits the Romanian Ministry of Finance.
Their reported combined revenues of approximately EUR 370 million and losses of EUR 25 million in 2023.
Nevertheless, as the three accelerate their investments in cloud infrastructure, negotiations continue for a major data center in Romania, pumped with investments between 1 and 2 billion USD.
Current focus is on finding suitable locations with adequate power supply and connectivity, says Romania Insider.
CEO of Google Cloud Thomas Kurian met with Romanian PM Marcel Ciolacu to discuss a partnership for enhancing Romania’s cloud infrastructure.
At the same time, the American Hunt Oil Company is leaving Romania after 14 years of operations after substantial financial losses.
Hunt Oil has invested over EUR 86 million in two Romanian oil concessions, Adjud and Urziceni Est, far exceeding its initial financial commitment. But unsuccessful drilling efforts led to the abandonment of exploration wells.
The company accumulated net losses of over 105 million euros from 2010 to 2023.
To save the situation, Hunt Oil is transferring its 50% stake and operational responsibilities for these concessions to its local partner, OMV Petrom, which will assume full control, reports Agerpres.
