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Energy & Environment

Nuclear energy’s share will double by 2030

Thursday, November 17, 2016

Romania’s Energy Ministry has launched into public debate the project on Romania’s energy strategy for 2016-2030, romania-insider.com reads. The country will be trying to reduce the share of coal energy and natural gas in the energy mix. Meanwhile, the contribution of nuclear energy will double, following the construction of the reactors 3,4 of the Cernavoda power plant, according to the document, reports ...

Romania’s wholesale electricity prices could double in 2030-2050 period, says energy strategy

Thursday, November 17, 2016

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The prices of electricity for households and industrial consumers in Romania are set to grow in the next decades, according to Romania’s energy strategy, which covers the 2016-2030 period, with an outlook to 2050, Business Review reports The strategy, which has been put up for public debate, notes that the price of electricity of the wholesale market will grow from EUR 30 per MWh at present, to an average level of EUR 65 –  EUR 85 per MWh in the 2030-2050 ...

MOL Romania appoints new CEO

Thursday, November 17, 2016

Fuel retailer MOL Romania has appointed Camelia Ene, 40, as new chief executive, becoming the youngest CEO in the oil industry, petrolplaza.com informs. Camelia Ene, who joined MOL Romania in March 2007 as a Shop Manager, will be the new CEO of the fuel retailing company – the third largest retailer in the country with a 18.9% market share and over 200 fuel stations. It is unclear if the appointment is only temporary as the announcement came after current CEO Kinga ...

Kazakhstan: Romania’s Energy Security boosted by KGMI

Thursday, November 17, 2016

* As Europe braces itself for what the long-range weather forecasts predict will be one of the coldest winters in recent years, thoughts in Romania are turning to energy security for the supply of gas and oil over the next six months, writes James Wilson for eureporter.co.   The energy security agenda is driven by long-term strategies to ...

SOCAR to take up to 10% of Romanian energy market

Thursday, November 17, 2016

Azerbaijan’s state oil company SOCAR plans to get hold of up to 10 percent of the Romanian energy market in a short period of time, SOCAR said in a message quoting Hamza Karimov, director general of SOCAR Petroleum SA, a SOCAR subsidiary in Romania,, http://en.trend.az/ ...

Romania's Romgaz 9-mo net profit falls on lower demand

Thursday, November 17, 2016

Romanian natural gas producer Romgaz [BSE:SNG] said on Friday its net profit dropped 26.8% year-on-year to 713.7 million lei ($173 million/ 159 million euro) in the first nine months of 2016 due to decreased demand, seenews.com reads. The company’s performance was mainly affected by a 6% drop in natural gas demand on the Romanian market, the company said in its third quarter financial report. Earnings before interest and taxes (EBIT) declined 22.4% to 900.5 million ...

Bulgaria-Romania gas deliveries to start in 2018

Thursday, November 17, 2016

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“Gas deliveries along the interconnector between Bulgaria and Romania will practically start in 2018.” This is what energy expert Professor Atanas Tasev said speaking for Radio FOCUS quoted by focus-fen.net.In his words, the “Romanian direction” is perspective at the moment. “Practically, this connection may be activated at this very moment because winter is coming and the pressure in the Romanian system in Giurgiu and the region is very ...

PRIMARY ENERGY RESOURCES DECREASED BY 1.8%  DURING 1.I. ? 30.IX.2016 

Thursday, November 17, 2016

-During 1.I. – 30.IX.2016, primary energy resources decreased by 1.8%, while those of electricity decreased, as compared to the same period of previous year, by 0.2%. Romania's final consumption of electricity went up 4 percent in the first nine months of this year, to 40.8 TWh, compared to the similar period of 2015, according to the data released on ...

Climate action facing stronger headwinds at COP22

Thursday, November 17, 2016

Donald Trump’s election appears to have stalled the momentum of the Paris Agreement. Concern over the future of the deal is palpable among participants at the COP22 in Marrakesh. EurActiv France reports. “After a difficult year, we have things to celebrate,” said EU Climate Commissioner Miguel Arias Cañete. ...

Price of gas sold by domestic producers will liberalise as of April 1, 2017

Thursday, November 10, 2016

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The price of gas sold by domestic producers will liberalise as of April 1, 2017, but that will not lead to higher final prices for consumers, said Niculae Havrilet, the president of ANRE. “In October, the government issued an emergency order including two amendments to the gas law. The first one refers to article 124, that stipulated that gas producers must lay at market disposal quantities needed for the winter period for household consumers and ...

MOL Group Announces 2016 Q3 Results

Thursday, November 10, 2016

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* MOL upgrades its 2016 clean CCS EBITDA guidance to around USD 2.2 bn * Upstream EBITDA is up 12% year-on-year, first increase since 2011 * Downstream was flat quarter-on-quarter after major maintenance in Hungary * Strong free cash flow generation of almost USD 1bn in Q1-Q3 Last ...

MOL Group Announces Financial and Operational Targets for 2017-2021

Thursday, November 10, 2016

* MOL to invest around USD 2bn in strategic projects in the next five years * Free cash flow to fully cover strategy investments and smaller M&As * MOL unveils details about the development directions in petrochemicals * Consumer Services to generate USD 450-500m EBITDA by 2021, or more than 20% of Group ...

Western energy investment in Moldova depends on election result

Thursday, November 10, 2016

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Energy majors are lining up to obtain hydrocarbon exploration projects in Moldova but the outcome is dependent on the result of the upcoming presidential election, according to a former Romanian energy minister EurActiv Romania ...

Romania's OMV Petrom 9-mo cons EBIT down 14%, to cut 2016 investment by 30%

Thursday, November 10, 2016

Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Wednesday that its consolidated earnings before interest and taxes (EBIT) fell by 14% on the year to 1.13 billion lei ($278 million/251 million euro) in the first nine months, affected by the oil price drop, seenews.com reports OMV Petrom also said that it plans 30% lower investments for this year. The company's sales fell by an annual 14% to ...

OMV: Gas demand in Romania in 2016 below 2015 level

Thursday, November 10, 2016

Demand for gas in Romania will stay below the level recorded in 2015, while competition will be on the rise, including due to imports, according to OMV Petrom forecasts, business-review.eu informs. In addition, on the electricity market the demand will be relatively stable in 2016 compared to last year. The extra pressure on the prices and margins is also generatedby the recent amendments to the ...

Translectrica will provide assistance for the technical project of the Vulcanesti - Isaccea overhead power line

Thursday, November 10, 2016

 Romania's national power grid operator Translectrica will provide assistance with the working out of the specifications for the technical project of the Vulcanesti - Isaccea overhead power line and of the back-to-back unit of the Vulcanesti 400 kV electrical substation, the company said in a release on ...

Nuclear Fuel Plant produced fuel rod no. 160,000

Thursday, November 10, 2016

The Nuclear Fuel Plant in southwestern Pitesti prodcued on Monday fuel rod no. 160,000, according to a press release of Nuclearelectrica. The ...

Transelectrica to provide assistance with project specifications for Vulcanesti - Isaccea overhead power line

Thursday, November 10, 2016

Romania's national power grid operator Translectrica will provide assistance with the working out of the specifications for the technical project of the Vulcanesti - Isaccea overhead power line and of the back-to-back unit of the Vulcanesti 400 kV electrical substation, the company said in a release on Friday. "The Institute for Power Studies and Engineering ...

Belarusian industrial gas producer now sells argon to Bulgaria, Romania, Moldova

Thursday, November 10, 2016

The Belarusian industrial gas producer BMZ-GKS, which was founded by Belarusian Steel Works (BMZ trademark) among other parties, started selling argon to Bulgaria, Romania, and Moldova in 2016, BelTA learned from Alexander Olesik, Press Secretary of the Belarusian steel manufacturer BMZ, ...

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