Energy
Government Approves Memorandum on CE Oltenia State Aid
Romania's government has approved a memorandum to include EUR1.3 billion state aid for the restructuring of energy holding CE Oltenia in the state's budget policies for the period 2021-2025.
OMV Petrom Invested EUR21M in Petrobrazi Refinery in Two Years
OMV Petrom (SNP.RO), the largest energy company in Southeastern Europe, has invested approximately EUR21 million at Petrobrazi refinery to raise bio-blending capacity and improve infrastruct...
CONPET Puts Largest Crude Oil Storage Tank Into Service
Romanian state-run oil transporter CONPET Ploiesti (COTE.RO) on Tuesday put into service the newest and largest crude oil storage tank, in Calareti, which hosts a pumping station for importe...
Transelectrica Announces New Directorate Members; Catalin Nitu Stays On As Directorate Chairman
The Supervisory Board of Romanian state-owned power grid operator Transelectrica (TEL.RO) on Tuesday appointed Catalin Nitu to the position of Chairman of the Directorate for a four-year man...
CE Oltenia Gets EU Clearance to Move Ahead with EUR3.5B Restructuring Plan
Romanian state-owned energy holding CE Oltenia, the second largest local electricity producer with 22% market share, was green-lit by the European Commission for its restructuring plan to gr...
KMG International Considers Sale of Non-Core Assets in Romania
Rompetrol majority holder KMG International, which owns the Petromidia refinery, announced Tuesday it intends to sell a range of non-core assets in Romania.
Hidroelectrica Net Profit Drops 4%, to RON1.26B in Jan-Sept
Romanian state-owned power producer Hidroelectrica, the most profitable state-run company in Romania, ended the first nine months of 2020 with a turnover of RON2.8 billion, down 16% on the y...
Rompetrol Rafinare Posts $156.2M Loss in Jan-Sept
Rompetrol Rafinare (RRC.RO), part of KMG International and 44.6% owned by the Romanian state, on Friday reported a net loss of $156.2 million for the first nine months of 2020, compared with...
Transelectrica Net Profit Doubles in Jan-Sept, to RON152M
Romanian state-owned power grid operator Transelectrica (TEL.RO) on Friday reported a net profit of RON152 million for the first nine months of 2020, double compared with the same period las...