Romania Replaces Heads of Energy Companies

Economy Minister Adriean Videanu has also ordered changes in the top management of state-owned gas producer Romgaz and oil storage and shipping company Oil Terminal, to be headed by Marcel Adrian Piteiu and Miu Vasile, respectively.

The ministry gave no reasons for the changes in a statement issued late on Friday.

The state owned 73.7% of Transelectrica and Fondul Proprietatea, an investment fund set up by the government to return property seized under communism, held a 13.5% stake as of end-December, data from the Central Depository showed. The remainder is distributed among minority shareholders.