Romanian state-controlled natural gas company Romgaz reported a net profit of over RON 1bn (EUR 244mn) for 2011. The profit is 32% above the preliminary estimate released in February and more than double the RON 0.5bn net profit reported in 2010. The company will distribute most of the profit, namely RON 0.94bn, as dividend to its shareholders, it said in a statement. The state controls 85% of Romgaz, while the remaining 15% are held by the Property Fund. The government plans to sell another 15% stake in the company under an IPO this year. Romgaz produces roughly half of the countrys natural gas output. |
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