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Energy & Environment

Government raised more than 17.9 million euros in April 2017 from trading its greenhouse gas emission rights

Thursday, May 11, 2017

Romania's Government raised more than 17.9 million euros in April 2017 from trading its greenhouse gas emission rights related to stationary sources under the EU Emission Trading Scheme joint trading platform, according to a document posted on the website of the Finance Ministry. The document shows that traded were 3.76 million certificates related to stationary sources. In 2016, the Romanian Government raised about 195 million euros from similar trades, ...

EU pollutant limits threaten large-scale coal plants, says new report

Thursday, May 11, 2017

by EURACTIV.com with Reuters Stricter European Union pollutant limits could lead to costly upgrades or the closure of one third of Europe’s large-scale coal power plant ...

Hidroelectrica’s IPO postponed, money to go to the state budget

Thursday, May 11, 2017

Andreea Lambru, chairman of the Hidroelectrica Energy Supervisory Board (CS), said that the Ministry of Energy is preparing a government decision that will change the procedure for listing the company on the Bucharest Stock Exchange (BVB), so that the money remain at the state budget. “The current Supervisory Board will support the listing procedure, but there is a committee formed by several institutions that are ...

Trillions of euros of energy efficiency investment up for grabs

Thursday, May 11, 2017

European Union policymakers have made energy efficiency, particularly in buildings, central to their plans to create an Energy Union, euractiv com reads. But they must convince private investors to unlock trillions of euros of capital. The Energy Union is a strategy to cut the bloc’s dependence on energy imports, which cost €400 billion a year, and fight climate change. The twin goals can both be met with greater energy efficiency, which ...

Small steps for Energy Efficiency – ANRE report for 2016 finds the same bottlenecks as in 2015

Thursday, May 11, 2017

ANRE published its third annual monitoring report on the implementation of the National Action Plan regarding Energy Efficiency (PNAEE) for 2016, energynomics.ro reports. The national energy efficiency target (43 million ...

Romgaz did not reach a deal with Polish partners

Thursday, May 4, 2017

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The gas producer Romgaz, one of the msot profitable state owned companies, decided a year ago to withdraw from its partnership with Aurelian Oil& Gas and Sceptre Oil & Gas companies for exploration and production operations in Poland. Complete withdrawal procedures have not been completed because there are difference of opinion between Romgaz and its partners, the 2016 company report shows. Rongaz was a partner within partnership accords ...

Minister Petcu: the Giurgiu county will benefit from investments of approximately 20 million euro through the project of the gas pipeline BRUA

Thursday, May 4, 2017

Between 2019- 2022 in the Giurgiu county there will be made investments of approximately 20 million euro and there will be created two hundreds of work places through works at the gas pipeline Romania-Bulgaria, stated on Friday in Giurgiu the minister of energy Toma Petcu. ‘What is more important for our county is that we managed that, between 2019 – 2022 in Giurgiu to have investments of approximately 20 million euro in an important ...

Production of gold and silver in the mine of Manaila – Suceava: Vast Resources started testing

Thursday, May 4, 2017

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Vast Resources started the first tests for the processing of precious metals, gold and silver in the mine in Manalia. The company estimates that they will be able to extract monthly approximately 30 tons of gold and silver concentrate starting with May 2017. Thus, the British add a new type of concentrate processed in the Suceava mine, reaching a total of 3 products: copper, zinc, gold and silver. ‘The modality of ...

Petromidia Navodari and Vega Ploiesti Refineries will undergo a shutdown period of 20 days

Thursday, May 4, 2017

During May 03 - 22, Rompetrol Rafinare will stop production activities within its both refineries – Petromidia Navodari and Vega Ploiesti in order to perform scheduled technological works, whose total estimated value will exceed 17.5 mln. USD, the company informs în a press release sent to ACTMedia. The works will be coordinated by Rominserv, general contractor of the KMG International Group, and will target the optimization and improvement ...

Minister Petcu: Negotiations with Chinese for new nuclear reactors to be finished this year

Thursday, May 4, 2017

The negotiations with the Chinese for the construction of nuclear reactors 3 and 4 from Cernavoda, which require an investment of over EUR 6.5 billion, will be finished this year, says the minister of energy, Toma Petcu, business-review.eu reports. „What the current Government aims, including the Energy Ministry, is for Romania to become a regional player, both in production and selling of energy, as well as in production and sales of gas, ...

State aid for Hunedoara Energy Complex

Thursday, May 4, 2017

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 Complexul Energetic Hunedoara -C.E.H. (Hunedoara Energy Complex) will receive a state aid in order to facilitate the closing of uncompetitive coal mines, namely Lonea and Lupeni, worth 198.830 million lei for 2017, which is fully sustained from the state, through the budget of the Energy Ministry, according to a decision adopted on Thursday by the ...

Constantin Gheorghe was appointed as president of the Offshore Authority

Thursday, May 4, 2017

Prime Minister Sorin Grindeanu appointed Constantin Gheorghe as president with the rank of Secretary of State of the Competent Authority for Regulating the Offshore Oil Operations at the Black Sea, according to a decision published in the Official Gazette, energynomics.ro informs. Gheorghe was appointed to this position for a five-year mandate. He was until one year and a half ago, according to his own LinkedIn page, director ...

Most global investors recognise financial risk of climate change, report finds

Thursday, May 4, 2017

For the first time a majority of global investor heavyweights recognise the financial risks of climate change, according to the results of a major global index rating how investors manage such risks, EURACTIV’s partner The Guardian reports. But despite the ...

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

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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

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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

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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 ...

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