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Energy & Environment

Construction of gas pipeline between Bulgaria and Greece to start in 2018

Thursday, March 2, 2017

The construction of the gas link between Bulgaria and Greece is expected to start in the beginning of 2018, stated interim Energy Minister Nikolay Pavlov in Azerbaijan,energynomics.ro informs. Pavlov pointed out that intensive work is being conducted at the moment on the preparation of the documents for the announcement of the tender for the construction of the intersystem connector. The ...

Sorin Grindeanu proposed forming a ministerial team for new energy projects in the Black Sea

Thursday, March 2, 2017

The Prime Minister Sorin Grindeanu talked on Monday, February 27th, during a meeting held with a delegation from the consortium consisting of ExxonMobil and OMV Petrom, about forming an interministerial team, that will ensure the necessary technical support, to help new energy projects with potential development in the Romanian side of the Black Sea, according to a press release from the Government’s press office, energynomics.ro ...

Mihai Tudose, minister of Economy: Romania to become an energy hub in the Balkans

Thursday, March 2, 2017

The authorities want to transform Romania into an energy hub in the Balkans, with the help of Transgaz and Transelectrica, announced upon taking the office, the new Minister of Economy, Mihai Tudose, energynomics.ro reports. “Next week we have already established a meeting with the Minister of Defence, to agree with upon the situation of the Romanian army and regarding the production capacity of the Romanian ...

Romania has important methane gas reserves at big depths

Thursday, February 23, 2017

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Romania has important gas reserves big depth, both at sea and inland and another important company is interested in the Romanian Black Sea coast sector, said Sorin Gal, CEO of the General Department Managing, Evaluating Petrol Resources/Reserves within the National Agency for Mineral Resources (ANRM). “There are important gas reserves at depths of 4,000-5,000 m. They can be brought out with expensive technologies,” said the ANRM official at ...

Paris Arbitrage Court orders E.ON to pay RON 4 mln to Romanian state

Thursday, February 23, 2017

The Paris Arbitrage Court has ruled out that German utility E.ON, an important gas supplier on the local market, has to pay RON 4 million and interest to the Administration Company of Energy Shares (SAPE), the company owned by the Energy Ministry, for a dividends shares litigation with the minority shareholder, said on Monday the lawyers of the case, Zamfirescu Racoti & Partners (ZRP), according to News.ro quoted by ...

OMV Petrom announces investment of about 60 million euro for a new unit within Petrobrazi refinery

Thursday, February 23, 2017

OMV Petrom announces investment of about 60 million euro for a new unit within Petrobrazi refinery, based on Polyfuels innovative technology, which will enable the conversion of LPG components to gasoline and medium distillates using a catalytic process, according to a press release the company sent on Wednesday.The construction works are scheduled to begin this year and the unit will become fully operational at the beginning of 2019. "The ...

Romanian government affirms support for third meeting of Advisory Council of Southern Gas Corridor

Thursday, February 23, 2017

“The Romanian government fully supports the Southern Gas Corridor (SGC) project and the upcoming meeting of its Advisory Council in Baku on February 23,” Romanian Energy Minister Toma-Florin Petcu wrote in a letter to his Azerbaijani counterpart Natig Aliyev, http://azertag.az/ reports. "Romania ...

Energy consumption in the EU below its 1990 level…

Thursday, February 23, 2017

In 2015, gross inland energy consumption, which reflects the energy quantities necessary to satisfy all inland consumption, amounted in the European Union (EU) to 1 626 million tonnes of oil equivalent (Mtoe), below its 1990 level (-2.5%) and down by 11.6% compared to its peak of almost 1 840 Mtoe in 2006. Accounting for nearly three-quarters of EU consumption of energy in 2015, fossil fuels continued to represent by far the main source of energy, although their weight has ...

Romania imported a quantity of 7.468 million tons of oil în 2016

Thursday, February 23, 2017

Romania imported last year a quantity of 7.468 million tons of oil equivalent (toe) of crude oil, by 872.800 toe (13.2 pct) more than the quantity imported in 2015, according to data centralized by the National Institute for Statistics ...

Romania’s Nuclearelectrica net profit falls 27% in 2016

Thursday, February 23, 2017

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Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, said on Wednesday its net profit dropped 27% on the year to 108.7 million lei ($25.6 million/24.1 million euro) in 2016, seenews.com reports. The company's 2016 results were influenced by the unfavourable fluctuations in foreign currency exchange rates (EUR, USD, CAD mainly), lower regulated energy transport tariffs and lower energy sales, Nuclearelectrica said in ...

Romania's Romgaz 2016 net profit falls on lower demand, drop in prices

Thursday, February 23, 2017

Romanian natural gas producer Romgaz [BSE:SNG] said on Thursday its net profit dropped 14.2% year-on-year to 1.02 billion lei ($173 million/ 159 million euro) in  2016, seenews.com informs. The company’s performance in 2016 was mainly affected by a 17% drop in natural gas demand on the Romanian market, a fall in natural gas prices and strong competition from imported gas resulting from some unclear regulations, Romgaz said in its 2016 ...

Romania's OMV Petrom swings to profit in 2016, to invest more in 2017

Thursday, February 23, 2017

Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Thursday it posted a 1.038 billion lei ($241 million/228 million euro) net profit in 2016, recovering from a 690 million lei loss in the previous year, seenews.com reports. The group's consolidated sales for 2016 decreased by 10% to 16.24 billion lei, largely due to lower petroleum products sales, following a further decline in oil prices and slightly lower quantities sold, as well as ...

Romania's Transgaz 2016 net profit rises 22%

Thursday, February 23, 2017

Romanian gas transmission company Transgaz [BSE:TGN] said on Thursday its net profit rose 22% year-on-year in 2016, reaching 595.7 million lei ($140 million/131 million euro), seenews.com informs. Operating revenues rose 12% to 1.86 billion lei, while operating costs increased by an annual 20% to 698.8 million lei, Transgaz said in its 2016 financial report citing preliminary figures. Transgaz was planning 721.9 million lei ...

Mariana Gheorghe (OMV Petrom): Fuel market in Romania is competitive and prices are among the lowest in Europe

Thursday, February 23, 2017

Fuel market in Romania is competitive and prices in our country are among the lowest in Europe, said on Thursday, Mariana Gheorghe, CEO of OMV Petrom, in a press ...

European Institute of Romania Debate: Energy security of the EU. Romania's participation in the Energy Union

Thursday, February 23, 2017

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The European Institute of Romania (EIR) organized on 15 February 2017 a debate on Energy security of the EU.  Romania's participation in the Energy Union. The debate was occasioned by the presentation of the research results of the study ...

Rompetrol Rafinare, operational profit of USD 182 million in 2016 and historical production records

Thursday, February 23, 2017

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Rompetrol Rafinare, a company member of KMG International, registered a consolidated operational result EBITDA amounting to USD 182.5 million in 2016, higher by 62% as compared to 2015, on the background of the historical operational performances registered by the two refineries operated by the company, Petromidia N?vodari and Vega Ploie?ti, the company informs in a press release sent to ACTMedia. “The operational results marked by historical ...

KMG NC and CEFC – strategic partnership for developing oil & gas activities in Europe

Thursday, February 23, 2017

KMG International salutes the today’s conclusion in Bucharest of the agreement between the National Company KazMunayGas Kazakhstan and CEFC (China Energy Company Limited) stating the commitment to pursue the transaction of buying 51% of KMGI shares, and signed a restated set of documents, thus confirming the solid partnership between the two companies, a press realease sent to ACTMedia informs. After a period in which both parties clarified ...

Mihnea Constantinescu: it is necessary to finalise the national energy strategy

Thursday, February 16, 2017

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The energy diplomacy depends, firstly, on the domestic credibility of the sector, stated on Wednesday ambassador Mihnea Constantinescu, coordinator with special tasks for the energy security at the ministry for foreign affairs, who pleaded for the fast finalisation of the national energy strategy. ‘The energy diplomacy is not the beauty salon of the Romanian energy, it is an instrument through which the strategic objectives which we propose on ...

Romania was this winter a factor of balance in the whole region from the point of view of energy ( state secretary)

Thursday, February 16, 2017

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This winter, Romania was a factor of balance in the whole region, from the point of view of energy and at a certain moment, 12% of the energy produced in the country assured the balance for all the other states around us, stated on Wednesday Corina Popescu state secretary in the ministry of energy, in a debate on the issue of energy security of the European Union. ‘Romania is at the border of the European Union, from the perspective of energy. ...

Former minister of energy: Romania prefers to buy cheaper energy rather than produce it dearly

Thursday, February 16, 2017

Romania has started to import electricity, the consumption being over production. The former minister for energy Razvan Nicolescu said for Mediafax that it is about small quantity of electricity, imported at a lower price than that on the domestic market. ‘The fact that we import more electricity than we export does not mean that we have a problem with ensuring the energy consumption. We are talking about small quantity under 3% 350MW reported to ...

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