Energy
Fondul Proprietatea Sells 1.55% Stake In Oil Terminal
Romanian investment fund Fondul Proprietatea (FP.RO) Thursday sold a 1.55% stake in Oil Terminal Constanta (OIL.RO), for 3.3 million lei (some EUR800,000), capitalizing on a 32% hike in Oil...
Transgaz OKs 2010 Dividend At A Record RON338.7M
Romania’s state-run natural gas pipeline operator Transgaz Medias (TGN.RO) will pay out total dividend of 338.7 million lei (EUR81.2 million) from last year’s profits, a record figure for th...
Bulgarians Seek EUR50M Revenue From Battery Recycling
Brothers Plamen and Atanas Bobokov, owners of Bulgarian group Prista Oil, which specializes in lubricant production, have completed a EUR13 million investment near Bucharest’s beltway, the m...
Basescu Meets Exxon Mobil, Petrom To Talk Black Sea Drilling Plans
Romanian President Traian Basescu met Thursday with a delegation from US Exxon Mobil and Romanian OMV Petrom (SNP.RO), to discuss the two oil companies’ investment plans for the blocks lease...
Transgaz Expects 67% Fall In 2011 Profit To RON124M
Romania’s state-run natural gas pipeline operator Transgaz Medias (TGN.RO) estimates its net profit will drop 67% to 123.9 million lei (EUR29.7 million) in 2011, due to lower revenue and ris...
Fondul Proprietatea Wins Court Battle Over Romgaz Dividend
Romania’s Supreme Court ruled in favor of investment fund Fondul Proprietatea (FP.RO) in an action against state-run natural gas producer Romgaz Medias over the payment of 18.5 million lei (...
INS: Power Output Up 3.4% On Year In First Four Months
Romanian power output rose 3.4% on the year to 7.89 million tons of oil equivalent in January to April, while the country’s primary energy resources increased 2.3% to 11.4 million tons of oi...
MOL Romania's New CEO Has Ambitious Expansion Plans
At 30, Kinga Agnes Daradics has taken over the helm of MOL Romania, a business with revenue of EUR560 million which makes it one of the top four oil companies on the local market, becoming t...
OMV Share Sale Below Vienna Bourse Price Might Delay Petrom Offering
Austria’s OMV, the majority shareholder of Petrom (SNP.RO), sold all the new shares issued as part of its capital increase, but the price at which the offering ended, EUR27.5/share, was lowe...