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Energy & Environment

OMV Petrom estimates 4.56 bn lei investments for 2017

Thursday, April 27, 2017

OMV Petrom estimates that investments for 2017 will amount to 4.56 bn lei, up 83 pct from the 2.49 bn lei registered in 2016, the company said in a ...

OMV sued the Romanian state in March 2017, at the International Court of Arbitration in Paris

Thursday, April 27, 2017

Austrian company OMV, the major shareholder of Petrom, sued the Romanian state in March 2017, at the International Court of Arbitration (an institution that is part of the International Chamber of Commerce - e.n.) in Paris, for breaching the provisions of the privatization contract regarding the recovery of environment investments, the oil company's report for 2016 ...

OMV Petrom not well positioned to take advantage of market changes (report)

Thursday, April 27, 2017

OMV Petrom is not well positioned so as to take advantage of the changes within the market, according to a Wood & Company brokerage house report published on InvestingRomania, Agerpres informs. "We like Petrom's leadership, its diversified low-risk business model and long-term prospects. In our opinion, the company is not well positioned so as to take advantage of the changes in the market. However, although Petrom has a price-performance ratio ...

481,600 tonnes of oil equivalent (toe) worth of usable natural gas imported in the first two months of 2017

Thursday, April 27, 2017

Romania imported 481,600 tonnes of oil equivalent (toe) worth of usable natural gas in the first two months of this year, by 329.9 percent (369,200 toe) more than in the same period of 2016, show figures centralised by the National Institute for Statistics ...

MOL Romania has a new CFO

Thursday, April 27, 2017

Zoltán MAGYAR took over the CFO position of MOL Romania as of March 1st, 2017 Prior to his appointment in Romania, he ensured several key-positions within MOL Group, including the role of Country Chairman of MOL Kalegran Ltd., a subsidiary of MOL Group in the Kurdistan Region of ...

Enel enters the Romanian gas supply market for residential customers

Thursday, April 27, 2017

Enel announces the entrance on the Romanian gas supply market, with offers designed to offer ease of use and predictability for residential customers, who can now benefit from having a single supplier of gas and electricity. According to the statement sent to ACTMedia, the customers have the possibility to choose a subscription price for 24 months, with a payment term of 30 ...

New State Aid Scheme in Romania to encourage production of energy from biomass, biogas and geothermal resources

Thursday, April 27, 2017

The Romanian Government has just approved through Government Decision no. 216/2017 a new state aid scheme aimed to support investments for promoting energy production from less exploited renewable resources, namely biomass, biogas, geothermal energy ("New Support Scheme"), lexology.com reads. The New Support Scheme is applicable until 2020 and has a total allocated budget of EUR 100,630,588 (85% ensured from the European fund for ...

Coal production totalled 823,700 tonnes of oil equivalent (toe) in the first two months of 2017

Thursday, April 27, 2017

Romania's net coal production totalled 823,700 tonnes of oil equivalent (toe) in the first two months of 2017 , down 4.1 percent (35,300 toe) y-o-y., according to data with the National Institute of Statistics (INS). In the same period, Romania imported 39,300 toe of coal, down 45,000 toe (53.4 percent) from the same period of the year before. Under Romania's Energy Strategy posted on the website of the Energy Ministry, Romania is said to ...

Rompetrol wants to have sustainable filling station by 2020 

Thursday, April 27, 2017

Rompetrol plans to have by 2020 a sustainable filling station, where sustainable materials will be used, KMG International Communications and Sustainability Manager Costinela Dragan told "Sustainability: Shaping the future of brands" conference on Thursday in ...

Oil Terminal leads in the top of most performant shares

Thursday, April 27, 2017

The three best investments from the beginning of the year are the Oil Terminal shares (OIL), a company listed on the Romanian stock exchange’s main segment, which doubled the investors money in four months, in shares that comprise the Polish stock index WIG20, which grew with 17%, But also the silver that brought 14%, energynomics.ro reads. The following places are the Romanian stock exchange index BET, which shows 15.7% since the beginning of ...

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 ...

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