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We are channeling our actions to contribute to Romania’s energy security

by Interviews

Romania is the second largest EU natural gas producer and has a relatively lower import dependency as compared to its neighbours. Having its own natural resources is a defining advantage for Romania’s energy security. Currently, we are replenishing the gas storage needs in accordance with the obligation in place for winter consumption, and we will be compliant in terms of quantities. Our equity gas should be sufficient to cover the current needs of our customers. Additionally, we are actively working on diversifying our supply sources to strengthen the security of supply.

companies

2014: Tepid recovery in SEE stops short of recharging corporate batteries

by Features

Subdued domestic demand and low exports, limited credit growth due to high non-performing loan ratios, market volatility and political uncertainty continued to curb the financial performance of the companies in Southeast Europe (SEE) in 2014. Overdue structural reforms weigh on the economies in the region, which failed to benefit fully from cheaper oil and the recovery of the euro area to offset the downward pressure of the Russia-Ukraine crisis.

Label-Top-100

Bottomlines under more pressure as competition intensifies

by AnalysisFeatures

The slow recovery in the European Union, Southeast Europe’s (SEE) main trading partner, the sluggish prospects facing nearly all economies in the region and shrunken domestic demand all left their mark on corporate bottomlines in 2013. At the same time, long overdue structural reforms, fiscal and regulatory volatility and poor infrastructure continued to be a drag on local businesses. Against this backdrop, the performance of the companies in the SEE TOP 100 ranking was expectedly lackluster – their combined revenues in 2013 were flattish, with nearly half of the entrants seeing a decline in their revenues.

Label-Top-100

OMV Petrom: Volatile tax environment, low demand affect business

by InterviewsPetroleum/Natural Gas

With activities in exploration and production, gas and power, and refining and marketing, the OMV Petrom Group has proven oil and gas reserves of approximately 775 million barrels of oil equivalent in Romania and Kazakhstan, a maximum annual refining capacity of 4.2 million tonnes, a network of around 800 filling stations in Romania, Moldova, Bulgaria and Serbia, a 860 megawatt (MW) gas fired power plant and a 45 MW wind park. OMV Petrom was acquired by Austria’s OMV in 2004 in the largest privatisation deal Romania had seen up to that point. OMV owns 51% of the company.

Top 100 companies

On the path of recovery

by AnalysisFeatures

The economies of Southeast Europe set out on a hard and long road to recovery last year, trying to beat the challenge of sluggish demand for their exports in the eurozone, their main trading partner.
Unsurprisingly, the EU member states in the region fared worse than their non-EU neighbours due to their stronger integration with the western European markets. In contrast, non-EU member states capitalised on their looser links with the EU to post bigger growth in their gross domestic product (GDP).