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State-owned stakes transferred in several energy companies from the Economy Ministry
The transfer of the State-owned stakes in several energy companies from the Economy Ministry to the Ministry of Energy was recorded last weekend with the Central Depository, according to information delivered on Monday to the Bucharest Stock Exchange.
The transferred stakes are as follows: 44.69 percent of Rompetrol Rafinare; 48.78 percent of Electrica; 58.71 percent of the shares issued by Conpet Ploiesti; 81.27 percent of Nuclearelectrica; 59.62 percent of Oil Terminal Constanta; 20.63 percent of OMV Petrom; and a 70 percent stake in Romgaz.
The transfer of the stakes is provided for by the Government's Emergency Ordinance No. 86/2014 on specific reorganization measures in the central public administration and the amendment and supplementation of certain regulatory acts.
According to the cited regulatory act "the Ministry of Energy, Small and Medium-sized Enterprises and Business Environment takes over from the Ministry of Economy and exercises: the responsibilities of public institution involved in the privatization of national societies, national companies and the other companies operating in the production, distribution and supply of electricity and heating, as well as in the exploitation, processing and capitalization on energy mineral resources: coal, uranium, oil, petroleum and natural gas, as well as their subsidiaries; the responsibilities for the State's exercising its capacity as shareholder with the aforementioned entities, as well as those related to the post-privatization monitoring of the fulfillment of the terms of the stake sale contracts concluded during the privatization of these entities; any other prerogatives exercised by the Ministry of Economy through the Energy Department, established according to the laws in force, international agreements or other acts concluded according to the legal applicable provisions the scope of which includes the taken over activities."
The ordinance further provides that the Ministry of Energy, Small and Medium-sized Enterprises and Business Environment exerts the rights and fulfills the obligations arising from the Romanian State's capacity of shareholder with the energy and energy resource companies.