Energy
Enel Trade Romania Cuts RON53M Off Share Capital, To Cover Loss
Enel Trade Romania, owned entirely by Italian utilities group Enel, reduced its share capital by 53 million lei (some EUR12 million), to RON21.2 million, to cover loss registered in previous...
Black Sea Depths To Claim $2.5 Billion For Exploration Alone
The Black Sea depths are becoming the busiest battleground for the world’s oil giants, which have so far announced plans to spend $2.5 billion to explore this unknown area. Early next year,...
Economy Ministry Companies Reduced Arrears, Posted 50% Lower 9-Mo Losses
The companies under the Romanian Economy Ministry's authority and monitored by the IMF have reduced their arrears, cut their personnel expenses by 4.5% and posted 50% lower losses in the fir...
Romania Holds On To Majority Stake In Electrica - Sources
Romanian government doesn’t agree with the International Monetary Fund’s proposal to privatize the state-run energy company Electrica, but will sell minority stakes in the company’s three di...
Romania Needs Energy Price Deregulation For Companies To Invest
Energy and gas prices need to be aligned with European ones between 2013 and 2015, or it will not secure necessary investment, worth EUR35 billion by 2020, especially on the energy segment,...
Power Grid Operator Transelectrica To Monitor Stations Online
State-owned power grid operator Transelectrica (TEL.RO) on Thursday announced it has launched a pilot-project, in partnership with Bucharest business consultants Nova Industrial, to monitor...
Transgaz 9-Month Net Profit Flat At RON284M
Romanian state-run natural gas pipeline operator Transgaz Medias (TGN.RO) Thursday reported a net profit of 283.9 million lei (EUR67.5 million) in the first nine months, barely changed from...
Czech CEZ To Invest EUR3B In Renewable Energy By 2013
Czech utilities company CEZ, which entered Romania in 2005 when it bought Electrica Oltenia from the government and earmarked EUR1.1 billion to build Europe’s largest wind farm in Dobrogea (...
Government OKs Drilling Deal With Moesia Oil And Gas
The government approved a new exploration, development and drilling agreement between local mineral resources manager ANRM and Irish Moesia Oil and Gas, for a block spanning over some 1,000...