Gov’t approves the general framework for the establishment of sovereign funds

The Government has approved on Thursday, after heated talks between PSD and ALDE, the draft Emergency Ordinance on the general framework for the establishment of sovereign funds. This is a first step towards the establishment of a sovereign investment and development fund. The next and most difficult step is the approval of a draft Government Decision that provides the establishment of the fund and the companies that will be part of it, hotnews.ro reports.

Source: Romania Journal, Agerpres

Competition on the Black Sea gas gets stronger. Total, Exxon and Repsol begin drilling of the third deep-sea exploration well in Bulgaria

Total E & P Bulgaria, together with its ExxonMobil and Repsol partners, has launched the work of the third deep-sea exploration well, Han Asparuh 1-18 perimeter in the Black Sea, located in the exclusive economic zone of Bulgaria.

Source: Profit

Romgaz: „We do not want more in the Black Sea, it’s too risky and expensive.” The company is making new power plants and wants a chemical unit

Romgaz, one of the two largest hydrocarbon producers in Romania and the only state owned, will not intensify its activity in exploring Black Sea gas resources, where it is only a minority shareholder in a block operated by Lukoil because it is too costly and too risky.

Source: E-nergia

A new 50 MW gas plant could be built in Bucharest from the Government’s money

The Energy Participation Management Company (SAPE), a state controlled entity through the Ministry of Energy, plans to build a new 50MW gas plant in Bucharest on the site of the former Titan CET, government sources told us.

Source: E-nergia, Economica