Energy
Italy’s Walter Tosto Targets EUR60M Revenue For 2013 From Nuclear Power Equipment
Italian manufacturer of oil and gas industry equipment Walter Tosto plans to reach EUR60 million in revenue in Romania next year through Fecne Nuclear Component Bucuresti (formerly known as...
Management Incompetence Turns Into National Economy Sabotage
Remus Vulpescu, the lawyer appointed by Prime Minister Victor Ponta to run Hidroelectrica, the largest state-owned company, says the decision to file for insolvency was made on Friday, after...
Romania Signs RON180M Contract To Upgrade Transelectrica Station
Romanian Economy Minister Daniel Chitoiu on Tuesday signed a contract for non-refundable financing for a project to upgrade a station run by national power grid operator Transelectrica, thro...
Hidroelectrica's Insolvency Is Only Means To Reorganization, Not Bankruptcy – Chairman
The insolvency of Hidroelectrica, Romania's largest power producer, will not end in the company's bankruptcy but its reorganization, which will last 16-18 months and will not entail the sale...
Smart SA Expects Profit To Remain Flat On Year In 2012
Smart SA, the infrastructure maintenance unit of Romanian state-owned power grid operator Transelectrica, plans to keep turnover and profit at the values reported last year, 185 million lei...
Hidroelectrica's Insolvency To Cut By 21% Fondul Proprietatea’s NAV
The start of insolvency proceedings at Hidroelectrica would reduce by 21% the net asset value of investment fund Fondul Proprietatea (FP.RO), which holds 20% in the Romanian hydropower produ...
Sales Fall, Surging Debts Push Hidroelectrica To Request Insolvency
The Managing Board of Hidroelectrica decided to request the start of insolvency proceedings as the Romanian hydropower producer registered lower sales and rising debts, the company said in a...
Imports To Reach Half Of Romania's Energy Demand In 2030
Romania’s energy independence will be reduced and imports will reach 40%-50% of total consumption in 2030, due to higher demand for primary energy and the natural decline of the local hydroc...
OMV Petrom Plans To Invest Up To EUR1.2B/Year By 2014
OMV Petrom (SNP.RO) said Tuesday it will invest EUR800 million – EUR1.2 billion a year by 2014, particularly in exploration and production, if the business environment is favorable to invest...