Energy
Moody's Downgrades Transelectrica To Non-Investment Grade
Moody's Investor Service has downgraded the long-term corporate family rating of Romanian power transmission company Transelectrica from Baa3 to Ba1, the first non-investment grade, and assi...
Hidroelectrica To Renegotiate Contract With EFT On Friday, Alro And Alpiq Next Week
The administrators of Romanian state-owned power producer Hidroelectrica, which is insolvent, will renegotiate the company's direct energy sale contract with EFT on Friday, and then with Alr...
Employees Of Oltchim Resume Protests, Blame On Economy Ministry
Unionists at Romanian chemical producer Oltchim (OLT.RO) said they will resume protests Thursday, blaming the company's majority stockholder, the Economy Ministry, for postponing several iss...
Economy Ministry Appoints Special Administrator At Oltchim
Romania’s Economy Ministry Wednesday appointed Toma Bogdan Costreie as special administrator of chemical producer Oltchim (OLT.RO), the company said in a statement.
Transelectrica Names Gabriel Gheorghe As Interim Board Member
The managing board of Romanian state-owned power grid operator Transelectrica (TEL.RO) appointed Gheorghe-Gabriel Gheorghe as interim member of the board, replacing Remus Vulpescu, who resig...
Two Companies Interested In Taking Over Vulcan Bucuresti
Two companies operating in the energy sector are interested in acquiring steam generator maker Vulcan Bucuresti (VULC.RO), owned by Romanian businessman Ovidiu Tender, people close to the ma...
Walter Tosto To Invest EUR30M In Nuclear Equipment Plant In Bucharest
Italian oil and gas industrial equipment producer Walter Tosto said Monday it will invest EUR30 million in Bucharest-based nuclear component plant FECNE, which it acquired early this year.
Oil Companies’ Revenue Rose In 2011 Due To 25% Higher Prices On A Nearly Frozen Market
Oil companies saw a new year of growth in 2011, mainly due to significant price hikes despite the fact that the Romanian market continued to be affected by low purchasing power.
Report On Causes Of Insolvency For Hidroelectrica To Be Unveiled In July
Romanian hydropower producer Hidroelectrica’ filing for insolvency was a "shocking” and “historical” decision and a report on what caused the company to end up in this situation will be pres...