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FP: 100 STATE FIRMS, EXCEPTED FROM APPLYING CORPORATE GOVERNANCE

Fondul Proprietatea expresses significant concerns about a new legal draft, currently discussed in the Committees of the Chamber of Deputies, which proposes the exemption of 100 major state-owned companies (SOEs) from the enforcement of corporate governance legislation currently in force. Some of the most valuable Romanian SOEs, operating in vital sectors, are targeted, including: Hidroelectrica, Nuclearelectrica, Bucharest Airports, Romgaz, Salrom, Constanta Maritime Ports SA, Transelectrica and CE Oltenia, according to a release received by energynomics.ro.

30.09.2018 ·

OFFSHORE LAW WAS ADOPTED BY THE SENATE; INTERESTING MECHANISM FOR INVESTMENT DEDUCTIONS

The Senate Plenary adopted on Monday the new draft of the Offshore Law with the changes introduced last week by PSD and ALDE senators in the specialized committees after the Presidency asked for a re-examination of the project. The final vote is to be made in the Chamber of Deputies, and new changes are still possible. The adopted form introduces an interesting mechanism for investments deduction. Thus, Article 19, paragraph 3, refers the investment being deducted from the tax, while the point 4 introduces a maximum limit for deduction at “60% of the total additional income”. It seems that, in the case of Upstream offshore investments equal to or above the value resulting from the calculation of the tax on additional income, this amount could be zero, even when the maximum tax rate of 50% of the additional income is applied.

30.09.2018 ·

GOOD RESULTS FOR THE LISTED ENERGY COMPANIES (MIHAI CĂRUNTU ANALYSIS)

Some companies will record profits over estimates, while others are still dependent on strategic decisions to increase, Mihai Căruntu, head of BCR’s Capital Markets Division, told energynomics.ro.

30.09.2018 ·

BEST NEW COMER – 2017 ENERGYNOMICS AWARDS NOMINATIONS

We continue to present the 2017 nominations for the energynomics.ro Awards, with the Best New Comer category. Only one of the projects below will be rewarded during the Gala from December 7th, but every company and everyone involved in these projects deserve our respect and the widest promotion. We thank all the companies and personalities involved in this effort to draw the image of the Romanian energy industry in 2017 through its achievements!

30.09.2018 ·

RUSSIA’S GAZPROM EXPORTS TO NON-CIS COUNTRIES UP 5.8 PCT

Russian state-controlled gas giant Gazprom exported 5.8 percent more gas to non-CIS countries between Jan 1. and Sept. 15, totalling 141.3 billion cubic metres (bcm) in the period.

23.09.2018 ·

CE HUNEDOARA WILL PROVIDE SYSTEM SERVICES AT A POWER OF 400 MW UNTIL 2020

The Chamber of Deputies adopted on Wednesday the Emergency Ordinance no. 26/2018 through which the Hunedoara Energy Complex will provide system services at a power of 400 MW until 2020.

23.09.2018 ·

10 YEARS TO DITCH FOSSIL FUEL CAR ENGINES, SAVE PARIS CLIMATE TARGET, WARNS STUDY

Europe must stop selling new petrol, diesel and conventional hybrid cars by 2028 in order to stand a better chance of honouring the Paris Agreement’s most ambitious target, according to a new study.

23.09.2018 ·

US: DAM BREACH RETIRES POWER PLANT IN NORTH CAROLINA

Floodwaters of Hurricane Florence breached a dam Friday in the state of North Carolina, and forced an energy company to shut its natural gas plant in the area. 

23.09.2018 ·

BRENT OIL TRADES ABOVE $79 WEEK ENDING ON SEPT. 21

International Benchmark Brent crude traded at $79.54 per barrel at 15.17 GMT+3 on Friday, while American benchmark West Texas Intermediate (WTI) saw prices of $69.06 per barrel.

23.09.2018 ·

PPC, FACING €3.5BN UNPAID BILLS AMOUNT, BOOSTS COLLECTION EFFORT

Intensifying its debt collection effort over the past month, the main power utility PPC, whose unpaid receivables figure has reportedly risen to over 3.5 billion euros, has ordered some 340,000 customers to settle unpaid electricity bills and plans to soon forward thousands more payment orders, all signed by legal officials.

23.09.2018 ·

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