Romgaz, leader of the gas market in South-Eastern Europe

One of the few natural gas companies still controlled by the Romanian state ranks first among players in the same business in South Eastern Europe - Romgaz, whose profitability (net profit/turnover) exceeds that of privatised companies such as Petrom or the former Distrigaz companies.

Energy companies do not fare similarly well, with state-owned companies calling the shots in the sector.

The most profitable energy company in Romania is Nuclearelectrica, according to financial data from 2009, with the company only ranking fifth in the region, behind state-held champions, which are more often than not vertically integrated, in Slovenia, Croatia and Serbia.

According to a survey conducted by Bulgarian news agency SeeNews in partnership with consultancy AT Kearney and market research company Euromonitor International, in the ranking of the top 20 biggest energy companies in south-eastern Europe, Romania is present with 7 companies, two of which are held by a foreign investor, Italy's Enel, while the rest are controlled by the state.