OMV Petrom To Sell Some Of Its Fields In Romania
Romania’s oil and gas company OMV Petrom (SNP.RO), controlled by Austria’s OMV, has launched a new round of sales of fields, after transferring 19 marginal fields on August 1, 2017, said OMV Petrom CEO Mariana Gheorghe. “In July, we signed the contract for the sale of Dorobantu wind park, as part of our strategy to focus on core activities. In addition, we resumed operations at the Brazi power plant, at half capacity, on July 5. On August 1, the transfer of 19 marginal fields took place. A new round of divestments was initiated in line with our strategic direction of value over volume,” said Gheorghe.OMV Petrom on Thursday reported a net profit attributable to shareholders of RON592 million for the second quarter, nearly five times higher than in the same period last year. Petrom reported a net profit of RON118 million in the second quarter of 2016. Its operating profit reached RON1.66 billion in the first six months, with both upstream and downstream showing significant increases.
“In the first six months of 2017, we converted favorable market conditions into solid operational and financial performance. We were supported by increased oil prices, strong refining margins and higher demand for all our products. In addition, we continued our strict cost discipline,” said OMV Petrom CEO Mariana Gheorghe. (romanialibera.ro)
Liberals Plan To File No-Confidence Motion Against Tudose Cabinet Liberal Party head Ludovic Orban said liberals plans to submit a no-confidence motion against the government run by Mihai Tudose, but only when it stands a chance to pass.Orban also said liberals are ready to form a new government.
„The Liberal Party is always ready to take over power. We also have ruling ideas and the right people to do that. We set off procedures to reorganize specialty committees. I am not in favour of a shadow government. Anybody that is active in the specialty committee can take part of a future government and even hold the position of minister”, said Orban. (cotidianul.ro)
PM Tudose Lashes Out At Banks Reporting Loss In an interview for private TV station Antena 3, Prime Minister Mihai Tudose lashed out at banks in Romania which reported losses, warning them the “romantic period has passed” and saying they must understand very well the “Romanian state is not a naïve partner”.”The romantic period has passed. Nobody is willing to believe a banking institution can register loss for consecutive years. (…) Banks have also proved they have a very rich imagination when it comes to outsourcing their profits. But this will no longer work. The finance minister talked to bank representatives and I have publicly said our patience has run out. Banks ought to rethink their strategy in Romania. (…) Maybe it is time everybody knew the Romanian state is not naive”, said Tudose. (puterea.ro)
PM Tudose Makes Two New Appointments In Government
Prime Minister Mihai Tudose made two new appointments in the government before going on Saint Mary mini-vacation.
Nicolae Tudose is the new state secretary with the Ministry of Regional Development, Public Administration ad EU Funds and Ionut-Valeriu Andrei was appointed to the position of state secretary with the Ministry of Communications and Information Society. (puterea.ro)