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Energy & Environment

Romania's Electrica 9-mo profit plummets on higher power purchase prices

Thursday, November 16, 2017

Romanian power supplier and distributor Electrica [BSE:EL] said on Wednesday its consolidated net profit fell to 95 million lei ($24 million/21 million euro) in the first nine months of 2017 from 466 million lei in the year-ago period mainly due to higher prices at which it buys electricit, seenews.com informs. Electrica's January-September operating revenue edged down 0.5% on the year to 4.17 billion lei, the company said in an ...

OMV Petrom to sell 60 oilfields

Thursday, November 16, 2017

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OMV Petrom, the largest oil and gas producer in Southeastern Europe, continues to sell several assets in its portfolio this year, so it will transfer 50-60 less profitable oilfields and will sell three motels, Mariana Gheorghe, CEO OMV Petrom said in an interview ...

KazMunayGas refineries in Romania triple net profit

Thursday, November 16, 2017

Oil and gas company Rompetrol Rafinare, the Romanian subsidiary owned by the Kazakh group KazMunayGas that manages the Petromidia refinery, recorded a consolidated net profit of USD 56 million in the first nine months of this year, almost triple compared to the same period last year, romania-insider.com ...

Romgaz ups net profit by 66%

Thursday, November 16, 2017

Romanian state-owned gas producer Romgaz recorded a net profit of RON 1.18 billion (EUR 253.8 million) in the first nine months of this year, up 66% over the same period last year romania-insider.com ...

Transgaz posts 21 pct profit increase to RON 433.5 mln in first nine months

Thursday, November 16, 2017

Transgaz, the operator of Romania’s national transport system for natural gas has increased its net profit by 21 percent year-on-year in the first nine months of 2017, to RON 433.5 million, business-review.eu reads.  The financial resukts of the third semester however, show that profit decreased by 57 percent, to RON 33 million. The company has expressed plans to take over Vestmoldtransgaz, the Moldovan company that administers the ...

Nuclearelectrica 9-mo profit soars on higher output, sales

Thursday, November 16, 2017

Nuclearelectrica, the operator of Romania's sole nuclear power plant Cernavoda, said on Monday its net profit leapt to 225.3 million lei ($56.4 million/48.4 million euro) in the first nine months of 2017, driven by increased electricity output and sales, seenews.com reads. The net profit of Nuclearelectrica totalled 102.4 million lei in the prior-year period. The company's results in the first nine months of 2017 were influenced ...

PRIMARY ENERGY RESOURCES INCREASED BY 4.1%  DURING 1.I. – 30.IX.2017

Thursday, November 16, 2017

- During 1.I. – 30.IX.2017, primary energy  resources increased by 4.1%, while  those of electricity decreased by 2.5% as compared to the same period of previous year. The primary energy resources increased by 4.1 percent in the first nine months of the year, compared to the similar period of ...

OMV Petrom rejects the allegations of non-payment of State duties

Thursday, November 16, 2017

 OMV Petrom vehemently rejects the allegations of non-payment of State duties, bandied in Thursday's meeting of the parliamentary committee inquiring into the National Energy Regulatory Authority (ANRE) activity, according to a press release of the company sent Thursday evening. Leader of the National Trade Union Bloc (BNS) Dumitru Costin stated during Thursday's hearings that he presented the Committee a document showing that OMV ...

Six projects for the use of renewable energy received financing under Rondine program

Thursday, November 16, 2017

Six projects worth a combined 30 million lei (some 7.1 ml euro) for the use of renewable energy received financing under the RO06 Renewable Energy Program (Rondine) funded as part of the EEA 2009 - 2014 Grants, shows data presented on Thursday by president of the Environmental Fund Administration (AFM) Cornel Brezuica at the program wrap up conference. In the opinion of the AFM head Romania stays among the world's most attractive renewable energies market and ...

Transgaz head: This winter's gas imports 30 pct up from year ago because of small stock

Thursday, November 16, 2017

The gas stock for the upcoming winter is the smallest in the last four or five years, so that Romania will have to increase imports by 30 percent in order not to cut off consumers, general manager of national gas transmission company Transgaz Ion Sterian told hearings this Thursday before the parliamentary committee inquiring into the activity of the National Energy Regulatory Authority (ANRE). "The current stock for the 2017 — 2018 winter is the ...

Iancu asks for changes on law that allows energy prices hike

Thursday, November 16, 2017

The idea of an intervention on the price of energy is not new. It was for the first time debated in the market following a meeting with the press of Electric?, energynomics.ro reads. Although the suppliers expected a normalization of the market conditions after the period of widespread variation in the electricity purchase prices from last winter, prices have not fallen even to date, for which administrative measures would be ...

Romania accelerated negotiations with China for reactors no. 3 and 4 at Cernavoda Plant

Thursday, November 9, 2017

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Romania has accelerated negotiations with the Chinese party on the one hand for reactors no. 3 and 4 at Cernavoda Plant and on the other hand for the establishment of a new lignite-based group at Rovinari Thermo Power Plant, more rounds of discussions having taken place in the last three months than in the past years put together, Energy Minister Toma Petcu stated on Wednesday during a visit to Romania of a delegation of companies and institutions from China, headed by Nur ...

Sales of fuel dropped  with approximately 10% in the month when the excises went up

Thursday, November 9, 2017

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Retail for fuels for vehicles in specialised shops dropped by 9.8% as gross series and 2.3% as season adjusted series, in September against August, according to INS after the excise for diesel and gasoline increased starting with 15 September. In September 2017 as compared to August the volume of the turnover for retail with the exception of auto commerce, gross series dropped with 4.9% due to the drop in the retail for vehicle fuel in specialised ...

Energy price on OPCOM exchange double from previous Monday, highest in the region

Thursday, November 9, 2017

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The price of electricity on the spot market (day-ahead market) of the OPCOM energy exchange is an average of 326 lei per MWh this Monday, more than twice the average figure of 145 lei per Mwh one  week ago, shows data released by the market operator. The price will peak at 570 lei per MWh this evening between 17:00 and 19:00 ...

Cupru Min Abrud to invest RON 65 mln, mostly on environment

Thursday, November 9, 2017

Cupru Min SA Abrud Romania plans to invest RON 65 million next year and most of half of the money will be invested for finishing the acid waters neutralization plant, says the Ministry of Economy quoted by business-review.eu. “Another purpose is to value the mining through rare metals,” says the ministry on its official site. The minister of economy Gheorghe Simon met this Friday with representatives of Cupru Min ...

KMG International, historical records in the first 9 months of 2017

Thursday, November 9, 2017

KMG International (KMGI) has reached record technological and financial results during the first nine months of 2017, unique figures in its approximately 20-year-old history, a statement sent to ACTMedia reads. “Today we are confidently saying that KMG International is a constantly, year by year, growing group of companies, its achieved financial and operational indicators exceeding the estimated results and consisting of new historical records. ...

New royalties for onshore and offshore oil & gas operations in Romania

Thursday, November 9, 2017

The Government has prepared a draft bill, expected to regulate the new royalty system for concessions of mineral, petroleum and hydro-mineral resources, lexology.com reads. The draft law brings the awaited differentiation between onshore and offshore royalties: Onshore Production: In onshore oil & gas production, royalty rates will remain unchanged, however reference price calculation methods will be ...

IFC Report Finds Policy Reforms, Innovation Can Unlock Trillions in Climate Finance

Thursday, November 9, 2017

Developing countries can meet climate targets promised in the landmark Paris Agreement by catalyzing trillions of dollars in private investments through a combination of smart policy reforms and innovative business models, according to a new report by IFC, a member of the World Bank Group. The report identifies seven industry sectors that can make a crucial difference in catalyzing private investment: renewable energy, off-grid solar and energy ...

Engie: We are not sure there is enough gas stored if a hard winter is coming. The Gov’t has no emergency plan

Thursday, November 9, 2017

Natural gas could become scarce in the event of a hard winter and some industrial consumers will have to be cut off from supply to ensure the priority for the population, but the government does not have an emergency plan for this winter, romaniajournal.ro informs, Engie Romania President Director General, Eric Stab said at the hearings by the Parliamentary inquiry commission regarding the activity of the National Regulatory Authority for Energy ...

Romgaz reports 633.83 million cubic metres of natural gas in store

Thursday, November 9, 2017

Romgaz currently has a quantity 633.83 million cubic metres of natural gas in store, double the mandatory amount set by an order of the National Energy Regulatory Authority (ANRE), according to Romgaz officials. "Romgaz has fulfilled its gas storage obligation according to the ANRE order, even exceeding the amount it is mandated to store. Romgaz has currently in store 633.83 million cubic metres (almost double the obligation set by ANRE) against a total ...

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