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Energy & Environment

Vast Resources makes progress towards production at Romanian mine

Thursday, September 1, 2016

UK-based mining company Vast Resources said on Tuesday that its Manaila base metal project in Romania has the capacity to produce two types of saleable concentrate product, seenews.com reports. After conducting tests for targeting the production of saleable copper and zinc at Manaila mine, Vast Resources said it is nearer at producing the two types of concentrates. The company has completed a plant-optimization plan that has increased copper grades to around 19% while ...

EurActiv: EU meets energy efficiency target six years early

Thursday, September 1, 2016

* Energy efficiency in the European Union is constantly improving. But this could be as much down to the economic downturn as its own efforts, a new study has found EurActiv’s partner Journal de l’Environnement reports. A study carried out by the European Commission’s Joint Research ...

ELCEN and GE sign a 6 years EUR 5.65 million maintenance contract

Thursday, September 1, 2016

The deal will come into force starting September 9 and is available for a period of six years. Its value is EUR 5.65 million, an established price for the entire period of contract, energynomics.ro reads. General Electric participated in an online open tender, announced and developed by ELCEN, according to the legislation during May-August and was declared winner. „The gas turbine plays an essential role in the station with combined cycle from the West functioning (…) as ...

Renewable energy capacity stood totaled 4,690 MW at the end of this June

Thursday, August 25, 2016

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Romania's renewable energy capacity stood totaled 4,690 MW at the end of this June, shows data centralized by power grid operator Transelectrica. Thus, wind farms accounted for 2,959 MW of the total, PV parks had a capacity of 1,312 MW, micro-hydro power plants accounted for 316 MW and biomass energy projects stood at a cumulative capacity of 103 ...

EY: Renewables a ‘safe bet’ for investors amid global market volatility

Thursday, August 25, 2016

Renewable energy sources continue to remain “safe bets” for investors as clean energy transactions thrived in the second quarter of 2016 amid ongoing global market volatility, according to EY’s latest report on the global power and utilities sector, quoted by ...

Financing contracts worth 21 mln. Euro for modernizing Rovinari and Isalnita

Thursday, August 25, 2016

The Ministry of Energy signed with Complex Energetic Oltenia two financing contracts worth about 21 million euros for the modernization of the power units at Rovinari and Isalnita from the National Investment Plan managed by the ministry, announced on its Facebook page, minister Victor Grigorescu quoted by energynomics.ro. “I signed with Complex Energetic Oltenia two financing contracts worth about 21 million euros for the modernization of the ...

Eldorado Gold to start exploration on Romanian, Serbian sites this year

Thursday, August 25, 2016

Canada’s Eldorado Gold Corp said on Tuesday that it will start this year exploration at Bolcana porphyry copper-gold system in Romania, which it recently acquired through public auction, and at Karavansalija Mineralized Centre (KMC) in southeastern Serbia, seenews.com reads. Drillsite permitting for the Romanian site is underway, and drilling is expected later this year, Eldorado said in a press release. The exploration ...

Monsson Group sells Romania's Emon Electric to Africa's EnComm

Thursday, August 25, 2016

Wind power project developer Monsson Group said on Thursday it has sold Romanian electric works company Emon Electric to African company EnComm for an undisclosed sum, in order to focus on external markets with a more stable business environment, http://renewables.seenews.com/ ...

Net coal production amounted to 1.962 million tonnes of oil equivalent in H1 2016

Thursday, August 25, 2016

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Romania's H1 2016 net coal production amounted to 1.962 million tonnes of oil equivalent (toe), down 12.2 percent (273,000 toe) from H1 2015, according to data with the National Institute of Statistics. In H1 2016, Romania imported 235.600 toe of net coal, ...

Nord Stream 2 faces loss of financial and political support

Thursday, August 25, 2016

The legitimacy of the extension of the Nord Stream 2 gas pipeline between Russia and Germany is being seriously undermined by regulatory and political headwinds, writes Jack Sharples for EurActiv.com. (Jack Sharples is a lecturer at the European University at St Petersburg and author of the Gazprom ...

Natgas producer Romgaz H1 net profit falls

Thursday, August 18, 2016

The net profit of Romanian natural gas producer Romgaz [BSE:SNG] fell 19.7% on the year to 615.3 million lei ($154 million/138 million euro) in the first half of 2016 due to a decline in natural gas demand, seenews.com reads. The company’s performance was mainly influenced by the decrease of natural gas demand on the Romanian market by approximately 6%, Romgaz said in its first-half financial ...

Romania imported in H1 of 2016 crude oil totalling 3.732 million tonnes of oil equivalent

Thursday, August 18, 2016

 Romania imported in the first six months of 2016 a quantity of crude oil totalling 3.732 million tonnes of oil equivalent (toe), 510.500 toe (15.8%) more than the amount imported in the similar period of last year, according to data centralized by the National Institute of Statistics ...

Vast Resources encouraged by drill results from Romania

Thursday, August 18, 2016

Vast Resources PLC (LON:VAST) has reported similar ...

Romania to host inaugural natural gas transit line capacity auction

Thursday, August 18, 2016

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Romania is to hold next month its first ever capacity auction on a key natural gas transit pipeline, as a legacy contract held by Russia’s Gazprom expires, icis.com reports. In one fell swoop, Turkish and Balkan shippers will be able to obtain capacity from Ukraine directly to ...

Romania’s Nuclearelectrica turns to loss in H1 on NPP

Thursday, August 18, 2016

Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, said on Friday it posted a 37.8 million lei ($9.45 million/8.45 million euro) loss in the first-half of the year, as compared to  a 2.9 million lei net profit in the like period of 2015, seenews.com reports. The company's first-half results were affected by the extension of the duration of the planned outage of Cernavoda NPP Unit, by lower revenues from the ...

KMG International, operations and results on ascending trend in the first half of 2016

Thursday, August 18, 2016

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The KMG International (KMGI) Group, during the first half of this year, continued to improve its operating performances and financial results, following the outstanding performances reached in 2015 – historical records, in over 18 years after its incorporation, a statement sent to ACTMedia by the company informs. “Investments exceeding USD 1.6 billion achieved by the Group and its sole shareholder – KazMunayGas ...

Final consumption of electricity in Romania up by 10.3 pct in S1

Thursday, August 18, 2016

The final consumption of electricity in Romania stood at 27.623 billion kWh in the first six months of 2016, 10.3 percent higher year-on-year, while the population consumption went up by 1.5 percent in the period under survey, provisional data published Thursday by the National Institute of Statistics (INS), quoted by business-review.eu. According to statistics, between January-June 2016, the primary energy ...

PRIMARY ENERGY RESOURCES DECREASED BY 0.6% IN  THE FIRST HALF OF 2016 

Thursday, August 18, 2016

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-In the  first half of 2016, primary energy resources decreased by 0.6%, while those of electricity  increased, as compared to the first half of 2015, by 3.3%.   Romania's H1 2016 final electricity ...

Romania's OMV Petrom H1 cons EBIT down 56% y/y, to cut investments by 20% in 2016

Thursday, August 11, 2016

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Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Wednesday that its consolidated earnings before interest and taxes (EBIT) dropped 56% on the year to 561 million lei ($140 million/126 million euro) in the first half of 2016 affected by the oil price drop, and that it plans 20% lower investments for this year, seenews.com informs. The company's sales fell by an annual 17% to 7.19 billion lei in the January-June ...

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