Oil prices rose yesterday, on the London and New York Exchanges, after a press agency of Iran announced that the country cancelled its oil deliveries to six EU member states, and the US Department of Energy said that American oil inventories fell. read more...

Petrom scored in the third quarter a net profit of 1.175 billion lei, thus doubling the nine-month result to 2.919 billion lei versus 1.421 billion lei in the same interval of 2010. read more...

The European Commission has opened infringement proceedings against Romania and other member states for failing to transpose two directives, regarding the electricity and natural gas markets, and the Economy Ministry expects the process to be stopped in two months, when the rules are adopted. read more...

The Romanian Senate's committee for administration on Tuesday adopted a favorable report on the government ordinance eliminating state subsidies for household heating, although the vote was tied. read more...

Romanian state-owned energy producer Nuclearelectrica restarted the second reactor at its power plant in Cernavoda which was shut down Friday due to a malfunction in its fuel supply system. read more...

One of the two reactors at Romania’s sole nuclear power plant Cernavoda will be shut down Friday, for at most two days, for repairs of an equipment malfunction, people close to the matter told Mediafax. read more...

Belgium’s Electrawinds wants to complete by the end of next year a solar energy park worth approximately EUR 30 M and to hike its wind farm capacity to 25 MW, Christophe Bols, the company’s general manager for Romania, stated, being quoted by Mediafax. read more...

The law for the support of renewable energy investments could be fully applicable by the end of September, Zoltan Nogy Bege, general manager of the Energy Efficiency Department within the Romanian Energy Regulatory Authority (ANRE), stated for Mediafax. read more...

The Romanian government on Wednesday announced it has extended by three years the exploration permits held by OMV Petrom on nine land blocks and one marine block, with a cumulated surface of 23,000 square kilometers. read more...

Romanian energy regulator ANRE may keep applying current pricing regulations for electricity and gas beyond 2015, for certain categories of clients, despite deregulation agreements concluded between the government and the International Monetary Fund. read more...

The price of heating in Bucharest has been raised to 169.88 lei/Gcal (including VAT), from RON124/Gcal as of August 1, according to a decision of the City Council. read more...

Romania is renegotiating its convention with the Russian Federation signed in Moscow in 1996, according to data provided by the Economy Ministry in Romania at HotNews.ro request. read more...

The European Bank for Reconstruction and Development and IFC, part of the World Bank will offer a 114.8 million euro loan to finance some wind parks in Romania developed by the Portuguese company EDP Renovaveis according to Bloomberg.com. Each of the two financial institutions offers 57.4 million euro to Cernavoda Power SA, a company owned by EDP Renovaveis. read more...

The 15 Romtranspetrol gas stations bought by the Azeri state company SOCAR at the beginning of the year cost 2 million dollars, SOCAR VP Suleyman Gasimov declared at Baku quoted by the Azeri newspaper. He said SOCAR will invest another 7 million dollars in developing the network of gas stations in Romania. read more...

After a delay of over two years, Romanian authorities managed to send to the European Commission the official notification on the subsidies scheme for the renewable energy sector, the Competition Council reads. read more...

After entering the Romanian market through a surprising acquisition of Romtranspetrol, a distribution company, the Azeri state company SOCAR analyses the market as it awaits new opportunities, SOCAR Romania chief Hamza Karimov said in an interview for HotNews.ro. Karimov said that SOCAR has no interest in Oltchim, Arpechim or Petrom. read more...

KOREA International Nuclear KEPCO manifested its plans to attend the construction of reactors 3 and 4 of the Romanian Cernavoda plan, Economy minister informs. According to the ministry, a delegation of the consortium met with the Economy minister Ion Ariton. read more...

Petrom (SNP.RO), the biggest company on the market posted growth of business and profit, even though the market it operates on continued to go down. Repeated pump price hikes and cost cuts, however, helped it turn in its favor a demand that refused to grow despite tentative economic rebound since the beginning of the year. read more...

Austrian group OMV, majority shareholder of Petrom, (SNP), could need a capital increase this year to refinance some of the loans taken out to make acquisitions in Turkey (Petrol Ofisi) and Tunisia, and a decision could be made by the OMV management in the coming period, say market sources. read more...

The government committed to the IMF to cut heat subsidies in the upcoming period which will increase the costs incurred by the population for heat and hot water by up to 60% by the end of the year depending on the capacity of mayors to cover the difference from their own sources, Romanian news agency Mediafax reports. read more...