Energy
Austrian OMV Group To Focus On Russia And Iran After Its Profit Halved In 4Q/2015
Austrian OMV Group, which controls Romania's largest company OMV Petrom (SNP.RO), will be focusing on Iran and Russia, considering that the decline in oil prices affects the profitability of...
Romgaz Interested In Exploration Projects In Europe, Caspian Sea Area
Romania’s largest natural gas producer Romgaz (SNG.RO) wants to participate in exploration projects in European states and the Caspian Sea area, but also in exploration block on the Romanian...
Ambassador: British Companies, Lured By Romanian Energy Sector
British companies want to invest in the Romanian energy sector as it has many advantages compared with the neighbor countries, such as the diversity of energy production sources, British Amb...
OMV Petrom Posts First Annual Loss Since Privatization
Romania's largest company OMV Petrom (SNP.RO), majority owned by Austria's OMV, posted net loss of 690 million lei (EUR155 million) in 2015, compared with a profit of RON2.1 billion in 2014,...
Romgaz And Lukoil Plan To Forgo Black Sea Block Due To Poor Results Of Exploration Works
Romania’s largest natural gas producer Romgaz (SNG.RO), along with its partners Lukoil and PanAtlantic Petroleum, plan to forgo the EX29 EST Rapsodia block in the Black Sea after their oil a...
Italy’s Ansaldo Nucleare May Join Romanian Nuke Project
Canada’s SNC Lavalin, the owner of the CANDU technology, and Italy’s Ansaldo Nucleare might take part in the project for the construction of the third and fourth reactors at the Romanian nuc...
KMG International Posts Record Profit in 2015 Despite Oil Price Slump
KMG International, formerly Rompetrol Grup, the second largest oil group in Romania, on Wednesday reported a record net profit of $4.6 million for 2015, despite a sharp decline in internatio...
Electrica 2015 Net Profit Grows 5% on Year, to RON284M
Romanian electricity distribution and supply company Electrica (EL.RO) said its net profit stood at RON283.9 million in 2015, 5% higher than in 2014.
Rompetrol Rafinare Switches To $62M Net Profit In 2015
Romanian oil refining company Rompetrol Rafinare (RRC.RO), member of KMG International group, reported a net consolidated result of $62 million in 2015, thus marking the switch to profit of...