• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 3 hours Can I Sue This Site for If People Post Inaccurate Information?
  • 14 mins Would bashing China solve all the problems of the United States
  • 5 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 11 hours Model 3 cheaper to buy than BMW 3 series.
  • 5 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 34 mins Incompetent "Journalists"
  • 18 hours China to Impose Dictatorship on Hong Kong
  • 2 hours Pompeo's Hong Kong
  • 8 hours Thugs in Trumpistan
  • 47 mins China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 1 day Iran's first oil tanker has arrived near Venezuela
  • 1 day Let’s Try This....
  • 2 days Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 1 day 60 mph electric mopeds
  • 2 days HVDC Cheaper Than Low-carbon Natural Gas
Driving Season Won’t Save Gas Demand

Driving Season Won’t Save Gas Demand

Memorial day weekend usually marks…

2 Hot Hydrogen Stocks Right Now

2 Hot Hydrogen Stocks Right Now

Despite all the hype around…

Romania's Attempt to Sell Minority Stock in Petrom Fails

Romanian President Traian Basescu believes that the government’s recent failed attempt to sell a minority stake in the Petrom oil corporation via a secondary offering, while disappointing, underlined that Romania could not afford to sell the shares except for a “fair” price.

Basescu told TVR public television channel during an interview, “This was a market failure. To us, it was not what we wished for, but it was the right solution. I have seen public debates on what the selling price should have been. I can tell you that consultants recommended us to sell a share for RON (Romanian New Leu) 0.33 (11 cents at current exchange rates), at which the Petrom shares would have been sold without a question; we could have probably asked for RON 0.34 or RON 0.35. The Government did not accept other price that the median of the past 12 months, which included a bonus. The decision was not to get below this price for a simple reason: Romania should not be mistaken for a country that has to sell its assets to be able to pay pensions and wages. We faced this risk last year and we took the necessary measures. On the one hand, we wanted to sell, but at the right price,” Romania’s Agerpres government press agency reported.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News