Energy
Oltchim Shares Suspended From Trading Ahead Of Privatization
The Bucharest stock exchange suspended transactions with shares of state-owned chemical company Oltchim Ramnicu-Valcea (OLT.RO), a minute before the deadline to submit offers for the privati...
Romania Expects Three Or More Bids For Oltchim
Romania’s Economy Ministry expects to receive at least three offers for the privatization of state-owned chemical company Oltchim Ramnicu-Valcea (OLT.RO) at a sealed-bid auction due next wee...
Hidroelectrica’s Legal Administrator To Receive Fee Based On Results
The creditors of Romanian insolvent Hidroelectrica on Friday confirmed insolvency firm Euro Insol as the legal administrator of the hydropower producer and set its fee at between EUR1 millio...
U.S. Giants Keep Buying Into Fondul Proprietatea And Petrom
U.S. funds keep buying into Petrom and in Romanian investment fund Fondul Proprietatea, the most valuable companies on the Bucharest Stock Exchange, while other investors are fleeing the mar...
Gazprom Close To Acquire Unicom Holding’s Black Sea Bunkering Operations
Gazprom Neft, the integrated oil group controlled by Gazprom, is close to striking a deal with Unicom Holding, to take over the bunkering operations in the Constanta Harbor.
Court Rejects Proprietatea Fund’s Appeal Against Romgaz Donation
Romania’s High Court of Cassation and Justice has irrevocably rejected a second appeal filed by investment fund Fondul Proprietatea (FP.RO) against a government-imposed cash donation from na...
Businessman Vintu, Ex Union Leader Liviu Luca, Indicted For Embezzling Petromservice
Romanian businessman Sorin Ovidiu Vintu, former union leader Liviu Luca, Octavian Țurcan, and former Petromservice managers Gheorghe Supeala and Zizi Anagnostopol have been indicted for mone...
Government Adopts RADET Penalty Annulment, Metrorex Transfer
The Romanian Government approved Wednesday the cancellation of the penalties gathered by Bucharest heating distributor RADET towards state-owned thermal power producer ELCEN, and the takeove...
Electrocentrale Deva To Lay Off 200 Employees In 2012
Electricity producer Electrocentrale Deva, held by Romanian state-owned power producer Termoelectrica, will lay off 200 people in 2012, with severance payments, the Government decided Wednes...