Dudau (EPG): Romania will pay reputational and arbitration costs if operators will not extract gas from the Black Sea

Romania will pay very high reputational costs, as well as costs resulting from arbitration actions submitted by oil companies, if they will stop investing in gas permits granted in the Black Sea, Radu Dudău, director of Energy Policy Group (EPG) in a debate on offshore gas. He pointed out that in 2010, when oil companies signed the concession agreements with the National Agency for Mineral Resources, they received assurances regarding the stability of the fiscal framework, but since then two new taxes have been introduced, the one on extraordinary profits of the regulation plus 0.5% tax on the production of liquid hydrocarbons associated with gas production.

Source: Agerpres, Economica

Gheorghe Cristian Florin, appointed chairman of the Board of Directors of CONPET, for four years

The Board of Directors of CONPET decided on Tuesday to appoint Gheorghe Cristian Florin as president of the CA from 28 August 2018 until 21 August 2022, according to a report sent to the Bucharest Stock Exchange. At the meeting on Tuesday, the members of the Board of Directors approved and approved the structure and composition of the advisory committees set up at the level of CA of CONPET.

Source: Agerpres, Profit

Minister of Economy: Cooperation with the Republic of Moldova in the energy field, economic and trade relations are excellent, but there is always a better place

Romania’s cooperation with the Republic of Moldova in the energy sector is excellent, as well as the economic and trade relations, but there is always a better place, Economy Minister Danuţ Andruşca said at a bilateral meeting with his counterpart from Moldova, the Minister of Economy and Infrastructure, Chiril Gaburici. According to a press release issued by AGERPRES, the main subject of the talks was the privatization process of Vestmoldtransgaz, which will be finalized next week after signing the takeover verbal process. The Romanian Minister of Economy underlined in this context the economic and political importance of the Ungheni-Chisinau gas pipeline, which he pointed out to be one of the most important development projects in the region, which will contribute to ensuring the energy security of the Republic of Moldova.

Source: Agerpres

The Ministry of Economy confirms after 3 months: Transelectrica prepares a representative office in Moldova

The Ministry of Economy announced on Tuesday that the national electricity carrier Transelectrica, one of the most profitable state-owned companies, intends to set up a representative office in the Republic of Moldova. Economy Minister Danuţ Andruşca had a bilateral meeting with his counterpart in Moldova, Minister of Economy and Infrastructure, Chiril Gaburici. „The Republic of Moldova is an exciting and potent destination for Romanian investors and I fully trust that this autumn we will see an intensification of the interest of the Romanian investors for the neighboring country,” Danut Andruşca said.

Source: Profit