EC issues report on Romania under the CVM, requests suspension of the implementation of the Justice laws, dismissal procedures for senior prosecutors

The European Commission adopted on Tuesday its latest report on developments in Romania to meet its commitments on judicial reform and the fight against corruption, in the context of the Cooperation and Verification Mechanism (CVM), a release posted on the EC website reads. Today’s report takes stock of the situation since November 2017. It notes that while Romania has taken some steps to implement the final 12 recommendations issued by the Commission in January 2017, in order to fulfil the CVM benchmarks, recent developments have reversed the course of progress and called into question the positive assessment made back in January 2017. This applies notably to judicial independence, judicial reform and tackling high-level corruption. Therefore, today’s report also sets out a number of additional recommendations for immediate follow up.

Source: Romania Journal

Ciamba has sworn in as Deputy Minister for European Affairs

George Ciamba has sworn in on the position of Deputy Minister for European Affairs on Wednesday at Cotroceni Palace, President Klaus Iohannis stressing on this occasion that the preparation of the Romanian Presidency of the Council of the European Union is on the last hundred meters.

Source: Agerpres

PSD is considering appealing the MCV report to the European Court of Justice

The chairman of the Legal Commission of the Chamber of Deputies, Social Democrat Nicuşor Halici, told MEDIAFAX on Wednesday that the possibility of an appeal against the MCV report to the Court of Justice of the European Union (CJEU) is being considered in the PSD.

Source: Mediafax

Falling 80% net profit at 9 months from Oil Terminal. By mid-year, the company displayed a loss

The operator of the oil terminal in Constanta Port, Oil Terminal, achieved in the first three quarters of this year a net turnover of 104.5 million lei, down 13.5% compared to the previous year’s low. Although EBITDA gains increased 6.4 percent to 12.95 million lei from 12.17 million lei, net profit fell 5 times to 2.21 million lei.

Source: Profit

Transgaz’s profit falls by a third due to the reduction of regulated tariffs and the volume of gas transported

Net profit of Transgaz, the operator of the gas transmission system in Romania, decreased by 31% in the first three months of this year compared to the same period last year, mainly due to the reduction of tariffs approved by the National Regulatory Authority in the field Energy (ANRE), and the volumes of gas transported.

Source: Profit

The 22% increase in energy on the bilateral contracts market raised Nuclearelectrica’s profit, offsetting the decrease in Cernavoda power plant output

The 22% increase in the average price of energy transactions on the competitive market of OPCOM’s bilateral contracts in the first 9 months of the year led to a 28.3% increase in Nuclearelectrica’s net profit to almost 321 million lei, despite a slight decrease by 1,55% of the production of the two reactors of the Cernavoda nuclear power plant.

Source: Profit