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Romania: Austrian Investors Demand Transparency
In an interview with Business Review Romania, Rudolf Lukavsky, commercial counselor for Romania and Moldova at the Austrian Embassy described the downsides and advantages of the economic environment in the country.
September 17, 2013
Serbia Welcomes Russian FDI
Serbian Prime Minister announced that his country was interested in Russian investments.
September 13, 2013
Romania: Chinese Investors to Support Infrastructure Projects with € 3bn
According to the Romanian Infrastructure and Foreign Investments Department (DPIIS), investors from China will support the construction of new highways and electricity generating power plants in the amount of more than € 3bn.
September 11, 2013
Turkey: Strong Industrial Production at Start of Q3
Turkey saw a strong industrial production at the start of the third quarter, according to official data, which gives hope for an improved economic growth as the country is facing more and more economic difficulties.
September 10, 2013
TAP: Surveys with Contractors to Begin
Trans Adriatic Pipeline has authorized its contractors to start surveys.
September 9, 2013
Romania: Industrial Sales Increased 4.7 Percent in 2013
Romania’s industrial sales increased 4.7 percent in the first seven months.
September 9, 2013
OMV: Oil Discovery in Northern Europe
Austrian Energy Enterprise OMV has discovered significant amounts of oil in the Barents Sea. Around 200m to 500m barrel are estimated to be exploitable.
September 6, 2013
Serbia: UK Enterprises Likely to Invest in Serbia
70 British companies are interested in investing in Serbia's economy.
September 6, 2013
Eurozone: Slight Increase of Industrial Production
Cyprus and Croatia record the largest decrease in industrial production among EU member states.
September 3, 2013
OMV to Take Over Offshore Block in Madagascar
OMV acquires interest in offshore Madagascar block
September 2, 2013
Romania: Planning on Energy Sufficiency by 2018/19
Gas pipeline between Romania and Moldova is set to become operational this year.
August 30, 2013
Romania Claims Compensations for Nabucco
Romania claims EU compensation for abandoned Nabucco project.
August 29, 2013
OMV: Discovery of Gas in Pakistan
OMV: Discovery of gas and condensate in the Mehar block, Pakistan.
August 29, 2013
Electricy Thieves Caused Losses for EVN in Bulgaria.
Austrian energy provider EVN lost € 800,000 because of electricity thieves.
August 27, 2013
Slovenia: Decrease of Net Electricity
In the seven months of 2013, Slovenia's total consumption of electricity decreased for less than 1% over the same period one year ago.
August 27, 2013
Bulgaria and Romania to Strenthen Relations
Bulgaria and Romania plan to strengthen relations at bilateral, regional and European level.
August 26, 2013
Ukraine Diversifies Sources of Reverse Gas Supply
Ukraine plans on soon opening two more routes through Romania and Slovakia.
August 22, 2013
Romania: Without Nabucco, Better Chances for Higher Pay-Out for Transgaz
This year's tariffs revisions are better suited to protect the company for the drop in gas consumption, thus RBI sees lower risk of unrealized revenues.
August 20, 2013
Ukraine Remains in a Recession for a Year
In the second quarter of 2013 GDP contracted by 1.1 percent on a year-on-year comparison basis.
August 20, 2013
OMV: Biggest Additional Purchase in Company’s History
OMV invests billions in a participation in the North Sea: The Austrian energy company acquires stakes of Norwegian enterprise Statoil in oil and gas fields in the North Sea for around € 2bn.
August 19, 2013
Ukraine Reduces Imports of Gas by 35 Percent
From January to June 2013, Ukraine was able to reduce gas import by more than 35 percent compared to the same period last year, according to Ukrainian Statistics Service.
August 16, 2013
US to Support Ukraine Gain Energy Independence
One of the key priorities of US Ambassador to Ukraine Geoffrey R. Pyatt is the support of Ukraine to gain greater independence in the energy sector.
August 14, 2013
EVN: Transfer of Shares
EVN carries out and terminates release of own shares to employees.
August 8, 2013
Romania Initiates Structural Reforms
In order to receive a precautionary loan from the IMF, Romania´s government will implement a series of reform steps. Above all, Romania starts privatizations again. Romania´s economic outlook continues to brighten.
August 3, 2013
Moody´s Downgrades Austrian Verbund
The rating agency lowers the rating of the Austrian energy group from „A3“ to „Baa1“.
August 2, 2013
Austria: Verbund to Take Austerity Measures
Only a few months ago, CEO of Verbund Wolfgang Anzengruber promised that “2013 will become the best year in the company’s history”. However, there have been bad news for the energy company ever since.
August 1, 2013
Romania’s Economic Recovery Expected to Strengthen.
Staff teams from the International Monetary Fund (IMF), the European Commission (EC), and the World Bank visited Bucharest Romania during July 17–31.
August 1, 2013
Austria: Operative Losses for Verbund
Quarters 1–2/2013: Verbund improves EBITDA and Group result considerably. In total, the water supply, asset swap and impairments have a favourable impact on results.
July 31, 2013
EVN Forced to Lower Electriciy Prices in Bulgaria
Austrian energy provider EVN is ordered by the regulator to drop electricity prices.
July 30, 2013
Czech Republic: US Export-Import Bank Offers Loan for Temelin
The official export credit agency of the United States offers a loan under the condition that Westinghouse wins the tender.
July 30, 2013
Bulgaria to Lower Electricity Prices by August
Bulgaria will lower the price of electricity on August 1st
July 30, 2013
Gazprom Acquires Kirghiz Gas Network
In return for a symbolic purchase price, the Kirghiz natural gas network is taken over completely by Gazprom. The Russian energy giant intends to invest billions of rubel in infrastructure.
July 29, 2013
Romania: Privatization as a Potential Driver for Economy
Romania has to privatize more state-owned enterprises to become one of fastest emerging economies in the European Union.
July 29, 2013
Czech Republic: CEZ to Postpone Completion of Temelin
Czech energy company CEZ announced that the decision for the finalization of nuclear power plant Temelin will take at least a year longer than planned.
July 25, 2013
Serbia and Bulgaria to Team Up in Energy Policy
Serbia and Bulgaria discuss South Stream, Nis-Sofia gas interconnection and the completion of the section of Corridor 10
July 24, 2013
Renewable Energy: Only Decent Growth Rates
2012: Share of eligible renewable energy consumption in Austria increased by 1% .
July 19, 2013
Bulgaria: South Stream Offers 6,000 New Jobs
South Stream Bulgaria´s CEO Georgi Gegov stresses the economic effect of the new gas pipeline from Russia to Western Europe.
July 18, 2013
Serbia to Invest in Renewable Energy
The Balkan country wants to invest more than € 10bn in its energy production. The focus will be on renewable energy.
July 18, 2013
Russian Economy Shows Insufficient Diversification
The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.
July 18, 2013
OMV: Major Gas Discovery in Australia
Successful appraisal of the Zola gas discovery offshore Australia.
July 16, 2013
ExxonMobil Signs Agreement with Ukrainian Government
ExxonMobil regards 45bn cubic meters of gas production realistic.
July 15, 2013
Poland: State Companies to Submit to Further Control
Poland to enhance supervision over state companies in the energy sector.
July 15, 2013
Czech Republic: Gloomy Prospects for Economy
The Czech economy is shrinking. According to experts, new Prime Minister Jiri Rusnok will not be able to change much. Enterprises have started to cut back on investments.
July 12, 2013
Serbia to Invest € 10bn in Energy Sector
Serbia will invest € 10 bn in the development of the energy sector in the next eight years.
July 12, 2013
OMV Petrom Sold Subsidiary
OMV Petrom sold its subsidiary Petrom Distribuţie Gaze SRL.
July 11, 2013
Russia to Reduce Oil Export
Russia produces more oil which is increasingly used in the country itself. Refineries outside of Russia do not fear immediate bottlenecks in the supply of oil.
July 11, 2013
Austria: EVN Hits Brakes with Expansion of Solar Energy
The fast expansion of solar electricity in the province of Lower Austria is straining the power supply system. EVN is therefore limiting the power supply for some projects. Plant operators are infuriated.
July 11, 2013
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