Chevron got a construction permit for placing the first gas shale exploration well in Romania, upon state-authorities approved the soil exploration in Silistea, Vaslui, transmits Mediafax. Having the authorization from the Vaslui County Council after providing the required documentation, Chevron is going to start setting up the exploration well in the area....more »

From the total amount of domestic consumption between January 1 and August 31, 2013, more than 41.6% is due to renewable energy....more »

Enel Green Power has connected its third photovoltaic park to the national electricity grid upon the company managed to connect the first two parks in July 2013. The operational project for solar energy is located in Colibasi, Giurgiu county, having an installed capacity of 6.5 MW....more »

Upon the ArcelorMittal's decision on adding EUR66million to its capital during the Shareholders General Assembly on January 26, 2012, SIF Moldova, one of the minor shareholders started a legal action in order to possibly annul it. SIF considered the capital increase proposal lacking transparency and inopportune as per a release published at that moment, the previous increases performed being also disputed by the society....more »

BNR (Romania's central bank) decided on reducing again the monetary policy rate after a similar measure has been applied upon the previous Board of Directors meeting in August 2013. Under these circumstances, starting October 1st, the rate is 4.25%, 0.25 percentage points down.'During the meeting BNR's Board of Directors had on September 30, there has been decided to lower the monetary policy rate to 4.25% a year from 4.5%, starting October 1st , to properly manage liquidity in the banking system, as well as maintain the current levels of minimum reserve requirement ratios on both RON- and foreign currency-denominated liabilities of credit institutions.' BNR announced through a press release....more »

The IPO (Initial Public Offering) run by Adeplast, the Romanian market leader in construction materials field, is in the spotlight of the local stock market. The offering is the first one in the Romanian private sector in the last five years, as well as the first one in which all subscriptions are revocable.Razvan Pasol, President at Intercapital Invest, the company assisting the offering, together with BCR, also stresses the importance of AdePlast's IPO: 'The AdepLast's initial public offering is one of the most important stock events in the last years. Through AdePlast's listing we show that powerful Romanian companies are able to finance their development through the capital market as well.(...) He hope that other successful Romanian contractors will follow AdePlast.'Being launched on October 2, it will be open until October 15, the company planning to sell 16.5 million shares priced at RON3.52 to RON4.06 in order to possibly attract up to RON66.7 million (about EUR15 million)....more »

Romania's energy market regulator, ANRE, capped at 8.5% the rate of return (ROR) applied to investments made by electricity suppliers, cutting down on the previous rate of 10%. The new rate will apply both to the value of investments distributors in this field will make from now on and to the regulatory asset base for power distribution.Nonetheless, there might be added another 0.5% to the new ROR, provided the distributors direct their investments in smart energy and their technological consumption goes below the threshold established by ANRE....more »

BRC Business Group, the project's developer is ready to sell Citadella Titan for EUR6.85 million, without VAT as per its reorganizing plan already approved, according to Euro Insol - BRC's administrator upon becoming insolvent at the beginning of 2012. An alternative stipulated by this plan is to proceed with selling each of the housing units apart, which would bring the group more than EUR10 million, excluding VAT....more »

German automotive company Continental concluded a 40 million Euro investment in a fuel pump factory located in Ghimbav Industrial Park, Brasov County. When opperating at full capacity the production will amount to seven million units / year. Among the car manufacturers that will equip cars with fuel pumps produced in Ghimbav are Volkswagen AG group, Ford, BMW, Mercedes -Benz , PSA Peugeot Citroen and Renault....more »

Tomasz Wolanowski has been recently appointed as the new Country Manager for ABB in Romania, effective September 1, 2013. Mr. Wolanowski succeeds Mr. Peter Simon who retired after a 38 year career in ABB....more »