Event: Meeting with the institutional investors held in prospect of CONPET shares listing on the regulated market administered by Bucharest Stock Exchange.
Panelists: representatives of major investments funds – ING, RAIFFEISEN, BCR, ERSTE, ALLIANZ ŢIRIAC, EUREKO Romania, OTP and representatives of Financial investment Societies – SIF 2 Moldova, SIF 4 Muntenia; Mr. Mihai Adrian Albulescu – State-secretary within the Romanian Ministry of Economy, Department for Energy; Mr. Gabriel Dumitraşcu – General Director of the General Direction for Privatization and Management of State Ownership in Energy; Mrs. Adriana Marin – Director of Analysis, manager of “Institutional Clients” Division at SSIF Broker.
Location: Bucharest Stock Exchange Headquarters
Issues discussed during the meeting: company development goals, future investments, economic results. Mr. Liviu Ilaşi, General Director of CONPET S.A. exposed two major projects:
• ” Interconnection of the national crude oil pipeline transport system to the regional (Pancevo, Serbia) and European one” , pointing out that, in a first stage, the project Constanţa – Piteşti – Pancevo estands as a viable crude oil alternative transport route for crude supply to Pancevo refinery (Serbia), with possible extension to Bosanski Brod refinery (Bosnia). A major advantage given by the achievement of this project would be that, out of the 760 km- pipeline total length, it would only be necessary to construct 440 new km of pipeline along Piteşti – Naidaş – Pancevo route, the rest of 320 km representing the existing Constanţa – Piteşti section.
• “Provision of the safety stock for crude oil” , currently being available a throughput of 100000 tons, with possibility of supplementing the capacity with another 100000 tons.
” The applied strategy targeted the increase of the company profitability by streamlining the structures and processes, being, at the same time, a flexible strategy, adapted to the current macroeconomic situation, also viable the moment the professional management will be introduced “, stated Mr Liviu Ilaşi about the strategy implemented within CONPET during December 2012- August 2013.
The analyses report drafted by SSIF Broker shows a turnover evolution by 6% and a net profit growth by 26% in relation to 2013 half year, as compared to the same period last year.
Event: Listing of CONPET S.A. shares on the regulated market administered by Bucharest Stock Exchange, Equities sector, first Tier, under “COTE” symbol.
Panelists: Mr. Mihai Adrian Albulescu – State Secretary within the Romanian Ministry of Economy, Department for Energy; Mr. Gabriel Dumitraşcu – General Director of the General Direction for Privatization and Management of State Ownership in Energy; Mr. Ludwik Sobolewski – CEO of Bucharest Stock Exchange; Mr. Grigore Chiş – General Director SSIF Broker, representatives of national and local media.
Location: Bucharest Stock Exchange Headquarters
Excerpt from the official statement of Mr. Liviu Ilaşi, General Director of CONPET S.A.:
“CONPET, although a natural monopoly, is a modern, solid company, strongly anchored in the market economy at its highest exigencies. Due to this factors mainly, we are here today and trustfully take the next step to the Bucharest Stock Exchange, 1st Tier, on the ring of champions (.) We are confident that our strong points, underlain along history, but especially the ones that future holds for us in our activity, will ensure the comfort of the investors so as to consider CONPET a commendable company to invest into. At this moment CONPET is a secure, strong company, clear of debts (…)”.
Event: visit of a delegation of the Ministry of Economy – the Department for Energy conducted by Mr. Răzvan Nicolescu – Minister Delegate for Energy to CONPET S.A.
Panelists: Mr. Răzvan Nicolescu – Minister Delegate for Energy, Mr. Mihai Albulescu – State Secretary at the Department for Energy, Mrs. Ioana Drăgan – Advisor to the Minister Delegate for Energy, Mrs. Simona Dobre – Advisor to the Minister Delegate for Energy, Mr. Corneliu Condrea – Director of the Crude Oil and Natural Gas Direction within the Department for Energy, Mr. Dan Weiler – Chairman of CONPET Board of Administration, Mr. Liviu Ilaşi – General Director of CONPET S.A., Mr. Darius Meşca, Mrs. Roxana Gheorghe, Mr. Radu Bugică – members of the Board of Administration, Mr. Gheorghe Ionescu – Production, Investments, Maintenance Director, Mrs. Sanda Toader – Financial Director and the Advisors to the General Director of CONPET – Mr. Alexandru Vârlan, Mr. Marius Istrate and Mr. Daniel Niculae.
Location: CONPET S.A. Headquarters in Ploiesti
The Minister Delegate for Energy visited CONPET Headquarters and the Central Dispatch of the National Crude Oil Pipeline Transport System operator; to this effect, the official held several talks with the representatives of the company top management. The discussions have touched upon the company perspectives and development strategy, the General Director of CONPET, Mr. Liviu Ilaşi, focusing on the company priorities, such as: cutting operating expenses by at least 1.5% / year, during 2014-2017; exploitation of non-productive assets; increasing EBITDA by 3% / year within the specified timeframe.
“During 2014-2017, CONPET management will also focus on increasing labour productivity”, Mr. Ilaşi stated.
“The Department for Energy is currently examining the priorities of the State- owned companies within the ministerial portfolio, given the national energy strategy is being revised. CONPET finances are sound. Nevertheless, I wish the company set more ambitious goals in what concerns the achieved investments and the draft of sustainable development plans.” , declared the Minister Delegate for Energy, Răzvan Nicolescu.
At the Palace of Parliament, in Bucharest, during June 22 – 26, 2014 took place The Central and Eastern Europe Regional Energy Forum – FOREN 2014. The theme of this year’s edition was:“Tomorrow’s Energy: From Vision to Reality”.
Organized with the support of the World Energy Council, the forum was a complex event including the conference “Energy Trilemma”, round tables, workshops, scientific communications sessions and a technical exhibition opened along the fives days events.
CONPET participated to the technical exhibition with a stand of presentation and brand promotion. In the first day of the event, following the official opening, the general director of the company, Mr. Liviu Ilasi was the one hosting official delegates who visited our stand.
Throughout the exhibition, CONPET stand was visited by representatives of embassies, line ministries, national and international energy companies, as well as journalists, all of them expressing their interest for the identification of some collaboration opportunities targeting particularly the following sectors: maintenance – repair and pipelines construction works, equipment and facilities maintenance and construction, SCADA, telecommunications and environmental protection. The visitors also expressed their interest in what concerns the development projects envisaged by the company, especially by the possibility of interconnecting the national transport system to the regional and European ones.
The Central and Eastern Europe Regional Energy Forum – FOREN 2014 brought together economic and policy decision makers, high class specialists from over 15 countries, thus representing a strong dialogue, communication and interaction platform for the CEE countries, meant to analyze the most important energy aspects and trends, identify solutions and offer relevant records in order to turn “tomorrow’s energy vision” into reality.
CONPET situated once again this year among the elite companies of Prahova County, being three times awarded for its work and achievements in 2013 within the “Top of Prahova County Companies 2014” Gala organized by the Chamber of Commerce and Industry Prahova, on October 31.
“Ranking the top of the Prahova economic hierarchy is similar to business excellence, economic performance at the highest level. Tradition and modernity are attributes that define CONPET business, a company whose rich history of over 110 years has lined up with that of Prahova County, a company that has played an active role both in the community life and the development of the county ” stated the general director, Mr. Liviu Ilasi, at the awards.
CONPET received two awards that acknowledge its business performance in 2013: the trophy “10 years of business excellence” and the diploma for ranking on the first place at the category “Services – Transport through pipelines – Large enterprises.” Also, for the second consecutive year, the company has been recognized its approaches in the social responsibility field, being awarded with the “Corporate Social Responsibility” trophy, prize granted for the companies that have distinguished themselves by adopting responsible enterprise management tools to improve the social and environmental impact.
At the award ceremony, the company was represented by the General Director, Mr. Liviu Ilasi, together with the entire top management team.
Following the Resolution of the Ordinary General Meeting of Shareholders dated April 28, 2015, CONPET S.A. informs on 2014 payment of dividends by way of Depozitarul Central, starting 23.07.2015, to the shareholders registered in the Shareholders’ Registry at the reference date 03.07.2015. (Ex-date 02.07.2015).
The dividend’s 2014 gross value amounts to 5.9409792 RON/share. The tax on dividends shall be calculated and withheld by CONPET S.A. out of the gross dividend and shall be paid to the State Budget in compliance with the applicable legal provisions.
SEE The Means and Terms of Payment for the Dividends