Energy
Black Sea Oil & Gas Expects First Extraction from Midia Block in 1Q/2021
Black Sea Oil & Gas, owned by Carlyle International Energy Partners and EBRD, expects its first gas extractions from the Midia offshore development in the first quarter of 2021, CEO Mark Bea...
Interagro Announces EUR22M Investment in Zimnicea Terminal
Agribusiness group Interagro, owned by Ioan Niculae, is investing EUR22 million in partnership with US group Nitron in a mixed terminal for the import and export of fertilizers in the Danube...
Nuclearelectrica Considers Self-Funding Third Nuclear Unit
Romanian state-owned nuclear power producer Nuclearelectrica may build a third nuclear reactor at the power plant in Cernavoda on its own, relying on its cash flow and on bank loans, company...
Christina Verchere: OMV Petrom Wants To Continue Neptun Deep Project
OMV Petrom wants to continue the Neptun Deep project in the Black Sea, but the company needs a friendlier fiscal-legislative framework, which entails changes to the Offshore Law to eliminate...
EBRD Seeks 5% Stake in Hidroelectrica ahead of IPO
The European Bank for Reconstruction and Development (EBRD) has expressed interest in acquiring 5% of Romanian power producer Hidroelectrica ahead of its stock market listing, outgoing econo...
OMV Patrom's Petrobrazi Refinery Invests EUR3M in New Marine Fuel Oil Production
OMV Petrom's Petrobrazi refinery has completed a EUR3 million investment in installations allowing it to produce a new marine fuel oil that supports the shipping industry in reducing sulfur...
Transelectrica Net Profit Grows 28% in 2019, to RON104M
Romanian state-owned power grid operator Transelectrica (TEL.RO) on Friday reported a net profit of RON104 million for 2019, 28% higher compared with 2018, while its total revenues dropped 1...
Oil Terminal Net Profit Grows Eight Times in 2019, to RON2.4M
Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) posted a net profit of RON2.4 million in 2019, eight times higher than in 2018, and its turnover grew 15.1%, to RON168...
Hidroelectrica Seeks Legal Adviser for Future IPO
Romanian state-owned power producer Hidroelectrica has launched procedures to acquire legal services in view of an initial public offering and is prepared to pay EUR700,000 net of VAT.