• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 1 hour Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 1 hour EU has already lost the Trump vs. EU Trade War
  • 17 hours Tesla Launches Faster Third Generation Supercharger
  • 23 mins China's Renewables Boom Hits the Wall
  • 12 mins ''Err ... but Trump ...?'' #wall
  • 6 hours Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 7 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 6 hours Crazy Stories From Round The World
  • 2 days Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 18 hours Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire
Why Iran Won’t Renegotiate The Nuclear Deal

Why Iran Won’t Renegotiate The Nuclear Deal

U.S. President Trump has ramped…

Has Global Oil Production Really Peaked?

Has Global Oil Production Really Peaked?

The lack of significant new…

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
Download on the App Store Get it on Google Play