Romania's Government will distribute only 50% of the profits obtained by the natural gas company Romgaz and nuclear company Nuclearelectrica, both controlled by the state, in order to allow them to fund their planned investments, minister of energy Virgil Popescu announced after the Government meeting on March 25.

A decision in this regard was approved by the Government already, he confirmed.

Romgaz needs money to take over half of the offshore perimeter Neptun Deep from ExxonMobil, and Nuclearelectrica needs financing for the 3rd and 4th reactors that it plans to develop with foreign partners, prime minister Nicolae Ciuca explained before the Government meeting. 

andrei@romania-insider.com

(Photo source: Facebook/Romgaz)