Russia’s Lukoil, and Petrom, the biggest company on the Romanian
market, are in the process of completing investments of over 600
million euros in 2011 in energy production facilities. These are
among the few conventional energy projects carried out in the last
20 years, being the first challenges to the state’s monopoly in the
sector.
Lukoil finalised a 160 million-dollar (115 million-euro) investment
in modernising an energy production facility on the platform of the
Petrotel refinery in Ploiești, while Petrom is on the finishing
straight with a 860-MW greenfield investment, bigger than a reactor
of the Cernavodă plant, worth 500 million euros at Brazi, on the
platform of the Petrobrazi refinery. Both oil companies will use
these investments to meet their own energy consumption needs, but
also sell the bulk of the energy generated on the market.
The announcement of the completion of the Lukoil investment was
made in the presence of Vagit Alekperov, president of the Russian
petroleum giant with over 81 billion dollars in turnover in 2009.
Alekperov also had several meetings with representatives of the
Economy Ministry as well as with Romanian President Traian
Băsescu.
ZF English
Lukoil and Petrom, 600m-euro investments in energy
Russia's Lukoil, and Petrom, the biggest company on the Romanian market, are in the process of completing investments of over 600 million euros in 2011 in energy production facilities. These are among the few conventional energy projects carried out in the last 20 years, being the first challenges to the state's monopoly in the sector.
