Energy
Over One Third Of Arpechim Pitesti Employees To Be Laid Off On January 9
More than a third of the employees of Romanian refinery Arpechim Pitesti, which belongs to oil company OMV Petrom (SNP.RO), will be laid off on January 9.
Competition Council Recommends Fines In Fuel Market Probe Report
The Romanian Competition Council will present next week the results of its fuel market investigation, recommending fines that are below the 10% of turnover ceiling, the authority’s president...
Power Consumption Rose To 2008 Level In 2011, Slowed Down In Final Months
Electrical power consumption in 2011, an important indicator for the economy's evolution, was really close to matching the 2008 level, regarded as exceptional for Romania, missing the mark b...
OMV Petrom Replaces Supervisory Board Member
Romanian oil company OMV Petrom (SNP.RO) on Wednesday announced the appointment of Gerald Kappes as interim member of the Supervisory Board, replacing Werner Auli who resigned citing health...
Rompetrol CFO Announces Further Cost Cuts Of $100M In 2012
Kazakh-held Rompetrol, the second-largest player in the Romanian oil industry, will continue cost cutting measures this year, considering that since 2007 when the group was bought by KazMuna...
2012, The Year Of Energy Sector Privatizations And Of The Black Sea Bet
2012 should come with a wave of asset sales in the energy sector, considering that all reorganization plans have failed. Electrica Serv, Electrica Furnizare, energy companies Oltenia and Hun...
ELCEN Will Not Stop Energy Deliveries To Bucharest, Despite City's Debts
Romanian thermal power producer ELCEN will not stop supplying Bucharest heating distributor RADET, despite the latter's debts and penalties in excess of 2 billion lei (EUR463 million), ELCEN...
Romania To Contribute Heavy Water To Nuke Reactor 3, 4 Operator
Nuclear power plant operator Nuclearelectrica will need to provide heavy water for nuclear reactors 1 and 2 at Cernavoda, and the Government will contribute heavy water from reserves for upc...
ELCEN Threatens To Cut Heating To Bucharest, Over City's Debts
Romanian thermal power producer ELCEN is threatening to stop supplying Bucharest heating distributor RADET over its huge debts, leading Mayor Sorin Oprescu to call on the President, Prime Mi...