OMV Petrom and ExxonMobil officially got the licence for the deepwater area in the Black Sea’s Midia XV perimeter after the Government’s Decision in that respect was published yesterday in the Official Gazette of Romania, according to an informing sent to the Bucharest Stock Exchange. With the decision in question effective, the contract concluded in October 2012 by ExxonMobil and OMV Petrom, on one side and Sterling Resources and Petro Ventures Europe, on the other, for transferring hydrocarbons exploration and production rights for the said area, came into force....more »

Carpatair got approved yesterday its request of becoming insolvent, aiming to proceed with a judicial reorganization.  According to representatives of the airline, their request was due to the damages worth some 30 million euro arose from disputes with the Timisoara Airport concerning anticompetitive activities...more »

Bucharest Airports National Company (BANC) reports an increase of 5.4 percent in the number of passengers in the last month of 2013, maintaining a growth rate of over five percentage points for the second month in a row. Overall, the last year brought a progress of 1.35 percent in the passenger traffic for the two airports located in Romanian capital - Henri Coanda International Airport (Otopeni) and Aurel Vlaicu International Airport (Baneasa), according to a BANC’s press release....more »

Secretary of State at the Romania’s Ministry of Justice, Putura has been elected as President of CFR’s new Board of Directors, which, in its turn, appointed Ionel Voicu (Deputy Director on European Projects) to provisionally replace George Micu as CEO of the railway company until the selection procedure for this position will be eventually finalized, is mentioned in a press release....more »

There is an interest from behalf of Austrian companies in investing in Romania, especially in the energy sector, as well as in the transport infrastructure field, according to Michael Schwarzinger, the Austrian Ambassador to Romania, who commented on this subject while attending Romanian Business Breakfast...more »

The General Meeting of Shareholders of CFR, Romania’s National Railway Company, controlled by the Ministry of Transport, decided last Friday to dismiss all the members of the Board of Directors due to their mismanagement which affected the company’s financial situation...more »

US technologies manufacturer Honeywell has reached a definitive agreement with Federal-Mogul Corporation in order to sell its Friction Material Division. The transaction worth about $155 million should be completed in the second half of this year, according to a press release sent to Govnet....more »

The asset-quality in Romania’s banking sector will continue deteriorating in 2014, according to a Fitch Rating analysis which also indicates that it will determine additional impairment provisions which will put pressure on regulatory capital. Banks are likely to remain weak in terms of profitability next year, as the operating environment will remain difficult and the economic recovery, fragile, yet it should slightly increase over 2013, as non-performing loans (NPL) start to stagnate....more »

Ioan and Viorel Micula, the two brothers owners of European Drinks, have won the lawsuit against Romania in the Court of Arbitration in Washington and thereby the Ministry of Public Finance is supposed to pay them about 84 million euro (376 million lei), plus penalties according to Mediafax....more »

The sale of copper concentrate at Cupru Min failed in lack of any biding bids from the two companies which have showed their interest in the negotiation phase - Trafigura PTE LTD Singapore and Yldirim Holding from Turkey....more »