Romanias economy minister Ion Ariton informed OMV Petrom of the governments intentions to buy back oil refinery Arpechim and the companys officials agreed to start negotiations as soon as possible, the ministry said in a news release. We recall that OMV Petrom decided earlier this year to permanently shut down the refinery, which was the smaller of the two, owned by Petrom. There was no suitable buyer for the refinery, Petrom announced at the time. The closure of the refinery, however, puts at risk the development plans of the state-owned chemical plant Oltchim that had already purchased the Arpechim petrochemical unit last year. OMV purchased 33.3% of Petrom for EUR 669mn back in 2004 and further increased its participation to 51% under an EUR 831mn capital increase. |
Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more
Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more