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Rompetrol Rafinare Receives 2-Yr Authorization For Power Supply

Romania’s second-largest oil company Rompetrol Rafinare Constanta (RRC.RO) received on Thursday the authorization from the National Energy Authority, or ANRE, to supply electricity for two years, sources from the company told Mediafax.
Rompetrol Rafinare Receives 2-Yr Authorization For Power Supply
28 aug. 2008, 15:24, English

"The authorization was approved in ANRE’s Regulation Committee, and was issued for two years. There are now nearly 170 power providers, of which only 60 are active on the market. The company will decide if it wants to remain active or not," sources said.

Rompetrol former president Dinu Patriciu already said nearly two years ago that the group was planning to become an electricity provider. Patriciu sold in August 2007 the majority stake to KazMunaiGaz.

Rompetrol Rafinare reported a first-half net profit of 66 million lei (EUR1-RON3.5574), compared with RON15.4 million in the year-earlier period. The company’s turnover rose by 93.46% to RON4.44 billion, from RON2.29 billion.