Further discussions about 2019 budget Several options are being considered by
Further discussions about 2019 budget
Several options are being considered by ruling coalition, including either the government’s full spending on social assistance or the provision of 90% of the budget for social spending by city halls. Mayors of municipalities in the country have been dissatisfied with the budget allocation and are asking for 30% of the national budget to be allocated to the local government, as they now claim to receive less than 20%.
PNL does not want any right-wing presidential candidate
Ludovic Orban asserts that supposing the president were supported by other political forces, Klaus Iohannis could win from the first round of presidential elections. As a consequence, the emergence of another right-wing candidate will only cause him trouble. Asked if he could see a possible collaboration with the PSD, he said he does not think it can be possible since there are differences of vision, of substance, more precisely a total difference in the way of government. PNL unanimously decided in the National Council support the candidacy of President Klaus Iohannis for future term.
FP: Regulated energy prices will bring lower revenues to the budget, reduced investment and distortion of the market
Fondul Proprietatea expresses its major concern about the very damaging impact on companies and investments in the energy sector, the energy security of Romania and, ultimately, the consumers if the Order published by the National Authority for Energy Regulation (ANRE) will be implemented. The underlined imbalances by Fondul Proprietatea would be: as a consequence, the increase of the prices on the competitive market, the ANRE Order does not equally treat the electricity producers, the establishment of the regulated profit at the arbitrary value of 5% has no economic basis, can lead to imports of electricity at prices that cannot be capped.
OMV Petrom 2018 resuts
According to the latest data reported by OMV, net profit attributable to shareholders doubled to € 1,438 billion in 2018 and earnings per share rose from € 1.33 to € 4.40. Turnover increased 13% to EUR 22.93 billion and operating profit increased by 23% to EUR 3.646 billion.
Virgil Popescu (PNL): Dragnea, Tariceanu and Vâlcov push Romania close to Russia
Liberal deputy Virgil Popescu accuses the PSD and ALDE of endangering investments in oil fields in the Black Sea. In a press release, Popescu points out that OUG 114/2018, dubbed the „Greed Ordinance”, led to Petrom’s postponement of the investment decision in the Black Sea.
OMV Petrom announces a 17% reduction in investment this year due to legislative instability
OMV Petrom has planned for this year investments of about 3.7 billion lei, down 17% from last year’s level, due to the recent instability in the regulatory environment, according to the financial report for 2018.
OMV Petrom: The Romanian legal framework does not provide the necessary premises for FID – Black Sea
OMV Petrom commented: „A stable, predictable and investment-friendly fiscal and regulatory framework is an essential requirement for developing our future investments, both onshore and offshore.” The communication motivates that GEO 114 provisions affect OMV Petrom’s activity and announce the postponement of investments in the Black Sea
Five favorite companies may build the Bulgaria-Greece gas interconnector
Five companies and consortiums qualified on the short list to submit bids for a tender worth EUR 145 million for the design and construction of the IGB gas interconnector, linking Bulgaria and Greece, starting with 2020 announced on Tuesday ICGB, which is responsible for supervising this project. The short list includes: a consortium consisting of two construction companies in Bulgaria and the Italian company Bonatti, a joint venture between Max Streicher (Germany) and Terna (Greece), a consortium of Spiecapag, a division of the group French Vinci and Bulgarian Trace Group, J & P AVAX in Greece and a joint venture between China Petroleum Pipeline Engineering and Aktor in Greece.