Energy
Oltchim’s Board Chairman Steps Down
Romanian state-run chemical company Oltchim Ramnicu-Valcea (OLT.RO) Thursday said Constantin Dascalu resigned his position of chairman of the board, citing personal reasons.
EBRD Considers EUR207M Funding For Vimetco Power Romania
The European Bank for Reconstruction and Development (EBRD) is considering funding Vimetco Power Romania with up to EUR207 million in senior secured financing, for the construction of gas-po...
IMF Asks Romania To Renegotiate Hidroelectrica Bilateral Contracts By February 15
The International Monetary Fund asked the government to complete the renegotiation of Hidroelectrica bilateral contracts by February 15, 2012, or terminate the contracts that cannot be reneg...
Hidroelectrica Uses Reserves To Cover National Electricity Shortage
State-owned hydropower producer Hidroelectrica is using its water reserves to compensate for the reduction of output in thermal power plants and wind farms.
Romania's 2011 Power Output +1.6% On Year
Romanian power output inched up 1.6% on the year to 23.45 million tons of oil equivalent in 2011, on higher production in most sectors, official data showed Wednesday.
CFR Calatori Buys RON78M Worth Of Diesel Fuel From Oscar Downstream
Romanian state-owned railway passenger transporter CFR Calatori has bought Euro 5 diesel fuel from trader Oscar Downstream within a contract worth 77.82 million lei (EUR17.9 million), VAT ex...
Enel Romania Unit To Invest RON54M In Installation Upgrades
Romanian power distribution company Enel Distributie Muntenia, a subsidiary of Italian utilities group Enel, allocated 54 million lei (EUR12.4 million) for upgrades at electrical installatio...
IMF: Romania Sells Gas To Fertilizer Producers For Absurdly Low Prices
Fertilizer producers are making huge profits thanks to the absurdly low price of Romanian natural gas, Jeffrey Franks, head of the IMF agreement evaluation mission, said Sunday.
IMF: Romania Should Terminate Bilateral Energy Contracts Immediately
Romania should immediately terminate the energy contracts awarded only to certain groups, which cost the budget millions of euros each year, Jeffrey Franks, head of the IMF agreement evaluat...