Business Review

Petrom and the Romanian affiliate of Exxon Mobil Corporation have started exploration drilling on Domino-1, the first deepwater exploration well in the Romanian sector of the Black Sea. The well is located 170 kilometers offshore Romania, in water with depths of 1,000 meters.

Ovidiu Posirca

Romania has invested over EUR 670 million in the energy sector during 2011, mainly for installing new equipment to existing power plants. However, a new hydro power plant, with an installed capacity of 27.1 MW, was finalized in December 2011, in Robesti, following an EUR 75 million investment. These data originate from the activity report that the Ministry of Economy, Commerce and Business Environment (MECMA) issued at end-2011.

Ovidiu Posirca

Hidroelectrica has finalized building works for the Robesti hydropower plant that has an installed capacity of 27.1 MW and a yearly generation capacity of 74GWh. The plant has entered into technological tests and is expected to generate energy by the end of this year, before introduction in the National Energy System.

Ovidiu Posirca

Romanian authorities have formalized the intention on connecting the Romanian electricity market, with those of Czech Republic, Slovakia and Hungary, part of the EU internal electricity market, which should be formed by 2014.

Ovidiu Posirca

The European Investment Bank (EIB) will provide a loan of EUR 33 million for environmental improvements to Unit 4 of the Paroseni coal-fired combined heat and power plant.

Ovidiu Posirca

Rominserv, the general contractor of Rompetrol Group, finalized, this week, the construction works for a mild hydrocracking installation and a hydrogen plant. These installations are part of a program that seeks to increase the processing capacity of the Petromidia refinery to 5 million tons, with an investment cost over USD 264 million, while the whole package totals USD 377 million. 

Ovidiu Posirca

Romepetrol Well Services, member of the Rompetrol Group, has extended its special well services in neighboring Hungary and Bulgaria, with contracts totaling USD 800,000.

Ovidiu Posirca

The EBRD, together with partner banks BCR, BRD, Banca Transilvania, CEC Bank, OTP Bank and Raiffeisen Bank have financed in the last 3 years, 80 investments in the energy efficiency segment. Around EUR 58 million have been taken out by Romanian SMEs looking to improve their business through energy efficient solutions.

The representatives of the Romanian Ministry of Economy have voted yesterday, in the general assemblies of four energy companies where it holds a majority stake, to set up a new energy champion called Oltenia Energy Complex.

Ovidiu Posirca

The drilling and well services division of Rompetrol Group has recently begun drilling operations in Romania, in the locality of Filipesti de Padure, Prahova County. Over USD 8.5 million have been invested for the purchase and operation of the drilling unit.

Ovidiu Posirca