Business Review

Rompetrol Rafinare, member company of the Rompetrol Group, has registered a 40 percent increase of its turnover to USD 3.8 billion, in the first nine months of 2011 versus the similar period of 2010.

Ovidiu Posirca

Oil and gas producer Petrom has reported a net income of RON 2.9 billion in the first nine months of 2011, which is a 107 percent increase from the RON 1.4 billion reported in the similar period of 2010. This was attributable to the Urals crude price that increased by 49 percent in Q3 2011 compared to Q3 2010.

Ovidiu Posirca

Romania has signed contracts for 8415 MW of installed wind capacities, while over 7000 MW are stable contracts for connection to the national grid, according to Octavian Lohan, deputy general director of Transelectrica, the national grid operator.

Ovidiu Posirca

Romania will need to boost its economy by attracting investments totaling EUR 35 bln by 2020, with half of this sum needed exclusively for the energy sector, according to Frank Hajdiniak, CEO of EON Romania, a company that has natural gas and electricity operations in Romania. This statement was made today during a conference on energy organized by Mediafax newswire.   

Ovidiu Posirca

Romania should reach 1000MW of installed renewable capacities throughout 2012, according to Corneliu Bodea, vice-president of Adrem Invest, a company specialized in industrial technical engineering. Adrem will develop several projects in the solar energy sector, with an average installed capacity of 10 MW.

Ovidiu Posirca

Transelectrica, the Romanian electricity grid operator, has taken the first steps towards the implementation of Smart Grids and Intelligent Metering, objectives that are mentioned in the Europe2020 strategy on energy. Thus, Nova Industrial, a maufacturer of equipment for the power sector, has developed a complete online monitorisation and technical diagnosis for primay equipment system, named EMCSIT, for the Darste 400/110kV substation located in Brasov.
Ovidiu Posirca

Romanian and neighboring Serbia are looking to increase their cooperation in the energy domain, according to an official statement from the Romanian Ministry of Economy. The message follows a meeting that Ion Ariton, the minister of Economy, had with the Serbian minister of Infrastructure and Energy, Milutin Mrkonjic.

Ovidiu Posirca

A consortium comprising of Sterling Resources, PetroVentures and Gas Plus will invest between USD 500 million and USD 1 billion for explorations of hydrocarbon deposits in the Black Sea.

Ovidiu Posirca

Melrose Resources, a U.K. oil and gas company, plans to invest USD 130 million in Romania, according to Bloomberg newswire, that quotes an official press statement from the British Embassy in Romania.

Ovidiu Posirca

Jeffrey Franks, head of the IMF mission in Romania, stated in an interview for Agerpres newswire, that Romania may switch from an importer of energy into an exporter, on the basis that authorities implement the right polices and attract investments.

Ovidiu Posirca