Energy
Romanian Govt Gives RON315M To Local Authorities To Pay Off Heating Bills
Romania’s Government has assigned an extra 315 million lei (EUR73 million) to local authorities in 36 localities to help them pay off debts to heat suppliers, the Governments aid in a press...
Romania Launches Tender To Select Broker For Oltchim’s Sale
Romanian Economy Ministry will organize November 21 an auction to select a bank that will broker the sale of state-run chemical company Oltchim (OLT.RO), the company said Friday.
Battle Starts Over Romania’s Resources
ExxonMobil hopes that along with Petrom, Romania’s largest company, it will join the exclusive club of prospectors of the sea depths, through their operations in the Neptun block in the Blac...
Borbely: Green House Program To Extend To City Halls, Kindergartens
Romania’s Green House program, which offers subsidies for alternative energy systems, will extend to city halls and kindergartens starting November 15, Environment Minister Laszlo Borbely sa...
Sterling Resources To Invest Up To $1B In Black Sea Blocks
Canadian Sterling Resources plans to invest between $500 million and $1 billion in hydrocarbon exploration at Romania’s Black Sea platform over the coming period, the Economy Ministry said T...
Chevron To Start Romanian Wells For Unconventional Gas In 2012
US oil group Chevron will start drilling in Romania in 2012, seeking unconventional gas, Thursday said the company’s Romania manager, Thomas Holst, during a seminar.
Romania Might Boost Natural Gas Reserves From Black Sea Blocks
Romania’s secure natural gas reserves, estimated to cover consumption over the next 15 years, could be increased following drilling in the Black Sea, Thursday said Alexandru Patruti, preside...
World Bank: A Quarter Of Romania's State-Owned Cos Are Practically Bankrupt
A quarter of Romania's 760 state-owned enterprises, such as RADET, CFR or Oltchim, are unprofitable, with nonviable assets and de facto bankrupt, meaning almost 100,000 employees would be le...
Hidroelectrica Lacks The Means To Terminate Direct Sale Contracts
State-owned hydropower producer Hidroelectrica does not have the means to terminate its direct sale contracts, which are “perhaps” concluded over “too extended” periods, Wednesday said the c...