Oil Terminal suspends full wage payment for ten days in order to reduce expenses. Almost a thousand employees will be affected by the measure decided after the company concluded the first semester of the year with a loss of one million lei.

Oil Terminal employees will receive 75% of their salary under Article 53 of the Labor Code.

The management of the port operator and trade union representatives have decided that this year will not grant primes for the Petrolist’s Day, celebrated on September 8th.

Oil Terminal, the operator of the Black Sea oil terminal, posted net losses of 1.07 million lei for the first six months of the year, compared to a net profit of 11.4 million lei in the same period last year, according to the report submitted to the Bucharest Stock Exchange. In 2017, the company made a profit of about 5 million lei, after the record profit of 15.4 million lei in profit in 2016. The company’s officials explained the situation as a result of market conditions this year. Starting August 13, 2018, following the requests of Oil Terminal, ANRM approved the increase of regulated tariffs by 8.5%.