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Energy & Environment

KMG International, increasing operations and results in the first nine months of 2016

Thursday, November 24, 2016

KMG International increased in the first nine months of this year the refining and fuel distribution activities in the Black Sea region, which are supported by the benefits of the optimization and efficiency increase program initiated in 2013 – “Business Transformation”. According to a press release sent to ACTMedia, all these contributed to the Group reaching an operational result (EBITDA) of USD 145 million, over 6% as compared to the level ...

KELER CCP supports the further development of the Romanian gas market

Thursday, November 24, 2016

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* KELER CCP is introducing central clearing services for the first time in the history of the Romanian energy markets Following a series of negotiations, Budapest-based KELER CCP and Bursa Romana de Marfuri (BRM) are taking a new step forward with ambitious market development plans, a statement sent to ACTMedia reads. Cooperation with the clearing house brings Romania’s energy market to a major milestone, as ...

ENGIE Romania buys Cofely Building Services&Maintenance

Thursday, November 24, 2016

ENGIE Romania, via its subsidiary ENGIE Servicii, has purchased Cofely Building Services&Maintenance to create ENGIE Building Solutions SRL, business-review.eu reports. Through the purchase of Cofely Building Services & Maintenance SRL from Cofely Austria, a company affiliated with ENGIE that has been active on the Romanian market since 2005, ENGIE Services will diversify the range of activities, a press statement by ...

FONDUL PROPRIETATEA REQUESTS RECRUITMENT OF NEW PROFESIONALLY MANAGED BOARD AT NUCLEARELECTRICA

Thursday, November 24, 2016

 Fondul Proprietatea S.A. (“the Fund”) announces that it strongly opposes the proposal of Nuclearelectrica’s Board to renew its mandate and maintain the same Board members and General Manager for another four-year term from 25 April 2017, as put forward for shareholder approval at the company’s General Shareholders Meeting (GSM) scheduled on 9 December 2016, a statement sent to ACTMedia reads. Fondul Proprietatea requests ...

ENEL: Romania has a broadband communication infrastructure with very good performance in the urban areas

Thursday, November 24, 2016

Romania already has a broadband communication infrastructure with very good performance in the urban areas, which means a new such network would not be justified, Enel Group CEO Francesco Starace told a news conference on Tuesday. "We have three large distribution networks in as many areas of Romania, so theoretically the broadband communication concept and interconnection could apply in Romania, too, same as in the other countries where we do have ...

Black Sea Oil & Gas awards Midia gas development FEED contract

Thursday, November 24, 2016

Black Sea Oil & Gas with co-venture partners has awarded Xodus Group the contract for front-end engineering and design (FEED) of Ana and Doina Gas Discoveries on XV Midia Shallow Block in offshore Romania, offshore-technology.com reads. Xodus Group is an integrated services company with experience in managing various disciplines of complex projects. The company manages subsurface, process and facilities, subsea and pipelines, flow assurance ...

SOCAR opens 35th filling station in Romania

Thursday, November 24, 2016

Azerbaijan’s energy giant SOCAR expanded the network of its filling stations in Romania, azernews.az reports. The company launched its 35th filling station in the county on November 18. The filling station, which is located in Romania’s Ilfov County, became the second refueling station of SOCAR in the region. The station has the capacity to provide services for 4 motor cars and 2 large-size vehicles at the same time. ...

SOCAR: AGRI interconnector is not dead

Thursday, November 24, 2016

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The project of the Azerbaijan-Georgia-Romania (AGRI) interconnector for the transport of liquefied gas from Azerbaijan to Romania is not dead, but since it is very costly, it needs more time to be implemented, said Suleyman Gasimov, vice-president on economic issues of Azerbaijan's state-owned oil and natural gas corporation SOCAR, attending on last Friday in Bucharest the opening of a new gas station. It's been a long time since the AGRI idea was initiated. ...

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 ...

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