Energy
Economy Ministry: Romgaz Unlawfully Spent Over RON238M
Romanian natural gas producer Romgaz has wrongly spent more than 123 million lei (EUR27 million) on machinery and equipment, and another RON115 million on activities that did not improve its...
Oltchim To Be Placed Under Administration
Romania's Government has decided to place chemical producer Oltchim (OLT.RO) under administration, in order to make the company solvent and get it ready for privatization later in the year.
Economy Ministry, Pedersen & Partners Terminate Headhunting Contract
Romania’s Economy Ministry and executive research company Pedersen & Partners terminated by mutual consent at the end of May 2012 a contract for consultancy in the selection of managers for...
OMV Petrom Restarts Petrobrazi Refinery
Romania’s largest oil company OMV Petrom (SNP.RO) restarted its Petrobrazi refinery after a EUR100 million upgrade investment in its crude vacuum distillation unit, the company said in a sta...
Hidroelectrica Terminates Electricity Sale Contract With Euro-P.E.C.
Euro Insol, the legal administrator of Romanian hydropower producer Hidroelectrica, on Tuesday will terminate the electricity sale contract signed with Galati-based firm Euro-P.E.C, which ha...
Transelectrica Appoints Interim Board Chairman
Romanian liberal MP Mircea Ciopraga was appointed member in the managing board of state-owned power grid operator Transelectrica (TEL.RO), replacing Gheorghe Stefan who resigned, and will al...
TenarisSilcotub: Oil And Gas Pipeline Demand At Its Peak
The management of TenarisSilcotub, the second largest company in Romania’s steel industry after ArcelorMittal Galati, says it is working at capacity because of the high demand in the energy...
Hidroelectrica To Register Negative Cash Flow In 2012
Romanian state-owned hydropower producer Hidroelectrica, that entered insolvency last week, forecasts a negative cash flow of 1.4 billion lei (EUR310 million) for the whole of 2012, accordin...
Hidroelectrica Will Pay Loan Instalments - Legal Administrator
Romanian hydropower producer Hidroelectrica can pay its debts towards the banks, although the state-owned company has started insolvency proceedings, the company's legal administrator told M...