Energy
Hidroelectrica Posts Record Profit of RON1.55B in 2018
Romania's biggest electricity producer Hidroelectrica posted a record net profit of RON1.55 billion in 2018, up 13.9% on the year, according to unaudited results published in the annual earn...
Romanian Transgaz Starts Work on Phase 2 of Iasi-Ungheni-Chisinau Pipeline
Romanian natural gas transmission company Transgaz Medias on Monday announced it has started work on the second phase of the Iasi-Ungheni-Chisinau pipeline, which will allow gas transmission...
Transelectrica Profit Triples in 2018, to RON89M
Romanian state-run power grid operator Transelectrica (TEL.RO) on Friday reported a net profit of RON89 million, triple compared with 2017, despite a drop of 11% in total revenue, to RON2.7...
Romgaz Posts 9% Hike in Turnover, Net Profit Declines in 2018
Romania’s largest natural gas producer Romgaz Medias (SNG.RO) on Friday reported a consolidated turnover of RON5 billion for 2018, up 9% on year, while its net profit declined to RON1.4 bill...
Oil Terminal Posts 93% Drop in Net Profit in 2018
Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO), majority owned by the Romanian state, posted a 93% annual drop in net profit in 2018, tyo RON318,000, the company said...
Competition Council Clears Takeover Of Some Petrom Assets By Mazarine Energy Romania
Romania’s Competition Council has approved the transaction whereby Mazarine Energy Romania SRL takes over oil fields belonging to OMV Petrom SA.
Black Sea Oil & Gas Moves Forward With $400M Midia Gas Project
Black Sea Oil & Gas , owned by by Carlyle International Energy Partners and EBRD, said Thursday it has decided to move forward with the Black Sea offshore Midia Gas Development project, a $4...
FP Warns Order on Regulated Energy Prices Will Lower State Revenues, Reduce Investments
Investment fund Fondul Proprietatea on Wednesday said it has serious concerns about the highly detrimental impact on energy companies, investments in the energy sector, Romania’s energy secu...
KMGI Posts $86M Net Profit in 2018, Plans to Start Building Petromidia Cogeneration Plant
KazMunayGas International (KMGI) plans to start the implementation of projects for the construction of a cogeneration plant at the Petromidia refinery in 2019 and to expand its retail networ...