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Energy & Environment

Nuclearelectrica planned investments of 1.7 billion lei until 2019

Thursday, April 20, 2017

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Nuclearelectrica, the company which manages the nuclear unit in Cernavoda planned investments of 1.7 billion lei between 2017 – 2019 shows a report sent to the BVB. Thus, the company planned investments of 440.7 million lei this year and 554.3 million lei next year. For 2019, Nuclearelectrica estimates investments of 701.4 million lei. ‘Most important projects of investment from the perspectiveof the investment ...

Romania imported crude oil amounting to 1.211 million tonne of oil în Januray 2017

Thursday, April 20, 2017

 In the first months of 2017 Romania imported crude oil amounting to 1.211 million tonne of oil equivalent (toe), higher by 92,800 toe (8.3 percent) compared to the volume imported in the same period of 2016, according to the data centralized by the National Institute of Statistics (INS). The crude oil production totalized 562,900 toe, being lower by 4.8 percent (28,500 toe) compared to the one in the similar period of 2016. According to ...

ANRE: Renewable energy ensured last year 42.29 percent of the national production of electricity

Thursday, April 20, 2017

Renewable energy ensured last year 42.29 percent of the national production of electricity, the highest share being held by the hydro energy, a report of the National Regulatory Authority for Energy (ANRE) regarding the electricity market in 2016 reveals. Therefore, the hydro energy stood at 29.88 percent of the country's overall electric energy production, the wind energy was 11.07 percent, the photovoltaic energy 1.18 percent, and 0.16 percent was produced ...

MOL’S ANNUAL GENERAL MEETING APPROVES DIVIDEND AND SHARE SPLIT

Thursday, April 20, 2017

Shareholders approve consolidated financial statements of MOL Group for 2016 Annual General Meeting accepts dividend payment of HUF 58 bn and 8-1 share split Appointments made to the Board of Directors, Supervisory Board and the Audit Committee MOL Plc. held a successful Annual General Meeting last Thursday in Budapest, a ...

Romania is preparing to take over in 2018, the presidency of the Energy Charter Conference

Thursday, April 20, 2017

 The Government is preparing for Romania to take over in 2018, the presidency of the Energy Charter Conference, through several actions set out in a Memorandum adopted in the Executive's sitting on Wednesday. According to a government press release, the positions of vice-president of the Energy Charter Conference in 2017, respectively that of president of the Charter Conference 2018 will be held by the Ambassador with special assignments in the Foreign ...

Renewable sources have a total of 100.6 ml euro worth of state aid allocated for the next 4 years

Thursday, April 20, 2017

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 Under a government resolution adopted on Wednesday, power and heat producers and administrative - territorial units / intracommunity development units that produce electricity from renewable sources have a total of 100.6 ml euro worth of state aid allocated for the next 4 years. The implementation of the state aid scheme is aimed at increasing the use of less common energy sources by growing the share of renewable energy of the total primary energy ...

Effects of January turmoil: Small suppliers lose consumers’ trust and contracts

Thursday, April 20, 2017

* Consumers have lost confidence in the independent electricity suppliers, which are losing ground in favor of the already established big names and suppliers of last resort, energynomics.ro reads. “Consumers, especially the large ones, prefer not to have impacts upon their budgets and to have fixed amounts of energy supplied, which they can rely on a long-term basis. A large company may suffer at cash flow ...

Electrica Serv expects a 25% net profit decline in 2017, prepares more lay-offs

Thursday, April 20, 2017

Electrica Serv, the maintenance and energy services subsidiary of Electrica, continues its restructuring in order to streamline the company’s business and expects a 25% lower profit in 2017 compared to 2016, energynomics.ro informs. The expenditures for the voluntary leaving program would double, with 923 employees being targeted for layoffs. They would leave the company in two stages: 234 employees until 31.03.2017 and 689 employees until ...

Black Sea Oil & Gas SRL awards drilling rig contract for two offshore wells at the Black Sea

Thursday, April 13, 2017

Black Sea Oil & Gas SRL (“BSOG”) together with its co-venture partners announced the awarding of a contract for the drilling of two offshore exploration wells located in the XV Midia Shallow Block, Romanian Black Sea continental shelf, to the local offshore drilling services provider GSP Offshore SRL (“GSP”), business-review.eu reads. The cantilever-type jack-up drilling rig “GSP Uranus” has been contracted by ...

FONDUL PROPRIETATEA: HIDROELECTRICA NEEDS A BOARD APPOINTED ON A FOUR-YEAR MANDATE

Thursday, April 13, 2017

Following the proposals made by the Ministry of Energy on 31 March 2017 to set up another interim Board for a period of four months at Hidroelectrica, Greg Konieczny, Fondul Proprietatea CEO and Portfolio Manager, states: “We are disappointed that the Ministry of Energy chose to propose yet another interim Board at Hidroelectrica. What Hidroelectrica needs, as the most valuable Romanian company, is stability and predictability, as ...

Linde Gas Romania bought ITO Industries and Rodmir Expert companies

Thursday, April 13, 2017

The industrial gas supplier Linde Gas Romania, a branch of the German group Linde, announced that they completd the purchase of companies Rodmir Expert and ITO Industrie International. The transaction value was not mentioned. “The transaction concentrates on operations concerning industrial gas in several locations in Romania: Bucharest, Iasi, Cluj Napoca, Oradea, Targu Mures, Hunedoara and Ploiesti. Rodmir and ITO supply gas to customers in the ...

There are over 400 oil fields and over 13,000 active wells in Romania

Thursday, April 13, 2017

There are over 400 oil fields and over 13,000 active wells in Romania at present, according to data sent by the Romanian Association of Exploration and Oil Production Companies (ROPEPCA), which considers the crude extraction sector are an important contribution of the state budget, but depends directly on the way in which the state encourages long term investments. “To maintain a constant production level of crude and gas significant investments ...

Electricity consumption in the first two months of 2017 amounted to 9.55 bln kWh

Thursday, April 13, 2017

Romania's final electricity consumption in the first two months of 2017 amounted to 9.55 bln kWh, up 2.2 percent from the same period of the year before, shows data released on Tuesday by the National Institute of Statistics (INS). Household consumption advanced 0.8 percent to 2.172 bln kWh, consumption in economy - industrial consumers - advanced 2.6 pct to 7.26 bln kWh, and public lighting consumption increased 5.2 pct to 120.6 million ...

ENEL ACQUIRES A FURTHER 13.6% OF THE ROMANIAN SUBSIDIARIES E- DISTRIBUTIE MUNTENIA AND ENEL ENERGIE MUNTENIA

Thursday, April 13, 2017

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Acquisition of a further 13.6% of the share capital of the electricity distribution and sales companies operating in the Romanian region of Muntenia is finalised for a consideration of about 400 million euros, the ompany informs în a release sent to ACTMedia Enel S.p.A. (“Enel”) announces that its wholly-owned subsidiary Enel Investment Holding B.V. (“EIH”) has today finalised the ...

Romania has to address 10 infringement procedures on environmental issues

Thursday, April 13, 2017

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Romania currently has to address 10 infringement procedures on environmental issues, mostly related to waste management, Minister of Environment Gratiela Gavrilescu on Monday told private TV broadcaster Antena 3. "It's been just a few days since I took ...

Romania's OMV Petrom partners up with Auchan Retail, to open 15 stores by end-2017

Thursday, April 13, 2017

Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Wednesday it has partnered-up with French retailer Auchan's local unit and aims to open 15 convenience stores in Petrom filling stations by the end of the year, seenews.com informs. All stores will operate under the MyAuchan brand and the first one will be opened in May OMV Petrom said in a press release. “This initiative is a step forward in implementing the ...

Chevron dropped shale gas project in Romania over economic reason, says US ambassador

Thursday, April 13, 2017

Oil major Chevron abandoned its shale gas project in Romania due to economic reasons, said the US ambassador to Romania, Hans Klemm, quoted by business-review.eu. The company had started searching for shale gas in Romania back in 2013, ...

PM Grindeanu had a new meeting with representatives of ExxonMobil and OMV Petrom consortium

Thursday, April 6, 2017

Prime Minister Sorin Grindeanu held on Tuesday, at Victoria Palace, a new meeting with representatives of ExxonMobil and OMV Petrom consortium, assuring them that the Government will support the investment projects for developing new sources of offshore hydrocarbons ...

Taxation for Romanian O&G industry rose, while international prices collapsed

Thursday, April 6, 2017

The average effective rate of the royalties and other taxes imposed on the oil and gas industry in Romania has increased from 15% in 2014, to 16.9% in 2015 and 17.5% in 2016, while in most European states it decreased, energynomics.ro reads. The trend observed by the experts at Deloitte manifested within an interval in which the international crude oil price dropped from about 100 dollars per barrel (in 2014) at a minimum of 30 dollars per barrel, in 2016, to return at ...

Revisions needed for AGRI project's feasibility study

Thursday, April 6, 2017

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Azerbaijan-Georgia-Romania Interconnector (AGRI) project is not just an issue of strategic thinking; it is first of all an issue of commercial interest, says Romanian ambassador to Georgia Radu Liviu Horumba quoted by http://menafn.com/. 'For the moment, we have discussed the feasibility study that was done and this discussion continues at the governmental level,' the ambassador said in an interview with Georgia Today. He ...

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