Romania Exempts Coal-Fired Power Plants from 2% Turnover Tax, Caps Electricity Prices until Feb 2022
03.27.2019
Romania's government will keep a 2% tax on turnover for energy producers, exempting state-owned thermal and coal-fired power plants, and will keep a cap on electricity prices until end-February 2022, according to a draft emergency decree published by the finance ministry late Tuesday.
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Transelectrica Profit Triples in 2018, to RON89M 02.15.2019
Romanian state-run power grid operator Transelectrica (TEL.RO) on Friday reported a net profit of RON89 million, triple compared with 2017, despite... more
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Romgaz Posts 9% Hike in Turnover, Net Profit Declines in 2018 02.15.2019
Romania’s largest natural gas producer Romgaz Medias (SNG.RO) on Friday reported a consolidated turnover of RON5 billion for 2018, up 9% on year,... more
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Oil Terminal Posts 93% Drop in Net Profit in 2018 02.13.2019
Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO), majority owned by the Romanian state, posted a 93% annual drop in net... more
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Competition Council Clears Takeover Of Some Petrom Assets By Mazarine Energy Romania 02.07.2019
Romania’s Competition Council has approved the transaction whereby Mazarine Energy Romania SRL takes over oil fields belonging to OMV Petrom SA. more
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Black Sea Oil & Gas Moves Forward With $400M Midia Gas Project 02.07.2019
Black Sea Oil & Gas , owned by by Carlyle International Energy Partners and EBRD, said Thursday it has decided to move forward with the Black Sea... more
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FP Warns Order on Regulated Energy Prices Will Lower State Revenues, Reduce Investments 02.06.2019
Investment fund Fondul Proprietatea on Wednesday said it has serious concerns about the highly detrimental impact on energy companies, investments... more
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KMGI Posts $86M Net Profit in 2018, Plans to Start Building Petromidia Cogeneration Plant 02.06.2019
KazMunayGas International (KMGI) plans to start the implementation of projects for the construction of a cogeneration plant at the Petromidia... more
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Amerocap Evaluating Investments in Port of Constanta 02.04.2019
Amerocap, a US-based investment firm, which supported Chimcomplex’s acquisition of Oltchim assets, is seeking expansion of its own private equity... more
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Romania Extends Agreement With ExxonMobil And OMV Petrom By 15 Years, Until 2045 01.31.2019
Romania’s Government on Wednesday approved a decision extending by 15 years, until 2045, its agreement with ExxonMobil and OMV Petrom on the... more
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Garanti Bank, IFC Sign EUR55M Loan Agreement to Support SMEs, Energy Efficiency in Romania 01.29.2019
Lender Garanti Bank on Tuesday signed a loan agreement for EUR55 million with International Finance Corporation (IFC), a member of the World Bank... more
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Romania To Cap Electricity, Natural Gas Prices for Households Until 2022 01.29.2019
Electricity and natural gas prices for household consumers will be kept unchanged until 2022 under provisions of a government decree and secondary... more
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Romanian Energy Companies Expect Loss, Staff Cuts Over Additional Energy Tax 01.23.2019
Energy companies in Romania expect losses and are considering staff cuts due to an additional tax the government decided to levy on the energy... more
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Uztel Ploiesti Shareholders Approve Contracting of RON9.5M Loans 01.21.2019
Shareholders of Romanian oilfield equipment manufacturer Uztel Ploiesti (UZT.RO) on Monday approved company plans to contract two loans totaling... more
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Romgaz Seeks International Expansion via SOCAR Partnership 01.21.2019
Azeri oil company SOCAR is interested in partnering with Romanian Romgaz to explore and exploit offshore Black Sea natural gas, besides involvement... more
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Romania’s Energy Crisis a Result of a Decade of Missed Investment Opportunities 01.18.2019
Romania missed almost EUR7 billion in energy investments in the past ten years: reactors 3 and 4 of the Cernavoda nuclear plant delayed... more
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Oltchim Left with 177 Employees after Asset Sales 01.17.2019
State-owned chemical plant Oltchim Ramnicu Valcea (OLT.RO) currently has 177 employees after selling most of its assets to Chimcomplex Borzesti and... more
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Romania Imports 1,400 MW After Shutting Down One Power Unit Amid Coal Miners' Strike 01.17.2019
Romania is currently importing over 1,400 MW, the equivalent of its nuclear power plant output, due to the shutdown of one thermal power unit amid... more
Private healthcare network Regina Maria has been put up for sale by its owner, Polish buyout investor Mid Europa Partners. The deal
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Romania's government will lower the tax on banks' financial assets and decouple it from money market rates, according to a draft
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Romania's government will postpone until May 31 the enforcing of new share capital requirements for administrators of mandatory private
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Nuclear power company Nuclearelectrica (SNN.RO) on Tuesday concluded a framework agreement with General Electric Global Services GMBH /
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Low-cost airline Blue Air has signed a new bilateral interline agreement with state-run airline TAROM.
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The number of tourists in Romania grew 6.7% in 2018 and the turnover generated by the hotel industry is estimated at EUR1.2 billion,
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Financial analysts’ confidence in Romania’s economy perked up in February compared with January but is still below the level
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Molson Coors Global Business Services (GBS), the services center of Canadian group Molson Coors which owns brewer Bergenbier in
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Central Bank: Banking Sector Has Limited Capacity to Sustain Current Profitability Long Term
The Romanian banking sector, which consists of 35 banks, in its present structure has a limited capacity to sustain the recent profitability over the long term, the central bank said in a report.
