BOGDAN CHIRITOIU: 2017 – THE MOST INTENSE YEAR FOR COMPETITION COUNCIL
The Competition Council has the most intense activity this year, both in terms of the carried out investigations and those that will be finalized, says the president of the institution, Bogdan Chiriţoiu, who adds that the Council is still investigating the situation of the explosion of electricity prices starting from the beginning of this year.
BRUA GOES AHEAD: ANRE TO APPROVE THE OPEN SEASON RULEBOOK FOR THE CAPACITIES RELATED TO THE ROMANIA–HUNGARY SEGMENT
The Regulatory Committee of the National Energy Regulatory Authority (ANRE) will approve on Friday the proposal to start the tender for contracting the transport capacity on the Romania-Hungary direction, within the BRUA project, said Emil Calotă, the vice-president of the authority, at the press conference organized by energynomics.ro.
ROMANIA APPROVES CHINA ENERGY BOUYOUT OF ROMPETROL
KMG International Group (KMGI) announces the recent decisions of the Romanian authorities approving the transaction signed at the end of 2016 between its main shareholder – national company KazMunayGas Kazahastan (KMG) and China Energy Company Limited (CEFC), a release states.
ELECTRICA BUYS ITS MINORITY PACKAGES FROM FONDUL PROPRIETATEA FOR 165 MILLION EURO
Fondul Proprietatea (FP) announced the start of the sale procedures to Electrica of the minority holdings held in the company’s subsidiaries, for approximately 165 million euros (752 million lei). Thus, FP sells 21,99% of Electrica Distributie Muntenia Nord, 22% of Electrica Distributie Transilvania Nord, 21,99% of Electrica Distributie Transilvania Sud and 22% of Electrica Furnizare SA.
BRM DEMOLISHES ARGUMENTS FOR CEDING THE GAS EXCHANGE, DENIES KEEPING JUST PART OF TRADES
The Romanian Commodity Exchange (BRM) leadership disagrees with the proposals according to which the gas ring is to be given to the OPCOM electricity operator, not even in part, told energynomics.ro Gabriel Purice, general manager of the institution. He said he disagreed with the idea of “compensating” BRM by maintaining the ring of the bilateral agreements, while the next day market agreements would go to OPCOM.
FONDUL PROPRIETATEA DISPUTES THE CORPORATE GOVERNANCE POLICIES OF ENGIE ROMANIA
Franklin Templeton, investment manager of Fondul Proprietatea (FP), announces that the Fund, acting as shareholder of ENGIE Romania SA, previously named GDF Suez Energy Romania (“Company”), has requested the convening notices of the Ordinary General Shareholders Meetings of ENGIE Romania SA, reveals a FP release.
ROMANIA, BULGARIA, GREECE AND HUNGARY PROMISE TO WORK FOR THE VERTICAL GAS CORRIDOR
Transgaz, a company controlled by the Ministry of Economy, signed on Wednesday the memorandum regarding the Vertical Gas Corridor that would link the natural gas transmission systems in Romania, Hungary, Austria, Bulgaria and Greece.
ELCEN’S PROFIT UP 83% TO 36 MILLION EURO IN H1
Electrocentrale Bucuresti S.A. (ELCEN) company, insolvent since October 2016, recorded in the first six months of 2017 a 165 million lei (36 million euros) gross operational profit from power and heat generation, 83% more than in the first half of 2016, when the gross operating profit from the production of thermal and electric energy was 90 million lei.
OMV PETROM INVESTS 60 MILLION EURO IN PETROBRAZI’S NEW POLY-FUEL UNIT
OMV Petrom has started works on the new Petrobrazi refinery’s poly-fuel unit. The new unit will allow conversion of LPG components into gasoline and middle distillates using a catalytic process. The company has announced investments of approximately 60 million euro for the construction of the new plant.
HIDROELECTRICA – OUTSTANDING PROFITS BY INVESTING IN QUALITY ENERGY
2016 is the fourth consecutive year when Hidroelectrica is recording a remarkable profit, this time with a gross profit of 1.5 billion lei. Given that the number of employees decreased by more than a third compared to the number registered in 2011, their yield places Hidroelectrica on the first position among the state-controlled companies. The outstanding financial development in previous years has been overshadowed by the long period of insolvency, with all the limitations imposed by this statute. Hidroelectrica’s prospects are now open, so we discussed with Mr. Ovidiu Agliceru, the President of Hidroelectrica’s Management Board. This conversation allows us to anticipate somewhat the most likely moves that are being prepared by Romania’s largest electricity producer.