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Energy & Environment

Reuters: OMV Petrom/Exxon to unveil Black sea gas decision next year

Thursday, October 5, 2017

Romania’s top oil and gas group OMV Petrom and Exxon Mobil are expected to announce a decision over a Black Sea offshore gas investment in early 2018, Energy Minister Toma Petcu said on Thursday, Reuters correspondent reports. “I understand they’ll unveil their decision early next year,” Petcu said.  OMV Petrom currently has exploration, development and production operations in shallow water, in the ...

MOL Group Seeks Startups Offering Innovative Solutions

Thursday, October 5, 2017

Selected companies could be given an opportunity to  access parts of MOL’s retail infrastructure and extensive customer base to test their innovative solutions In line with its 2030 strategy, tapping  external potential will support MOL in becoming the primary source of mobility solutions in the CEE region According to the statement sent to ACTMedia, MOL ...

Official: Romania will have a national data base on mineral resources

Thursday, October 5, 2017

Romania will have a national data base on mineral resources, with the approval of the Geological Research Programme by the Government, Anca Magdalena Chiser, Secretary of State in the Ministry of Economy, told a Monday's relevant forum. "In recent years, the exploitation of Romania's resources has become the most important topic on the public agenda. The exploitation and the use of these exhausting natural resources must be done taking into account the fact ...

East West Petroleum encouraged by test results in Romanian oil and gas field

Thursday, October 5, 2017

Canada's East West Petroleum Corp said that its joint venture partner and operator in Romania, Serbian oil and gas group NIS, has reported 'encouraging' testing results for oil and gas in the Pannonian Basin of Western Romania, seenews.com informs. Naftna Industrija Srbije (NIS) has reported that testing of multiple intervals on the first well in EX-7 Periam block has been completed with encouraging results for oil and natural gas, East West Petroleum ...

ANRE postponed an increase in gas prices for consumers, although the suppliers paid more

Thursday, October 5, 2017

With a leadership near finishing its mandate, under the spectrum of a parliamentary investigation and violently criticized by some political leaders, the ANRE Regulatory Committee decided to postpone the setting of tariffs for natural gas for the 2017-2018 gas year. Last week, the deputy chairman of the National Regulatory Authority for Energy Emil Calota estimated that prices could increase by 6% for ...

Sefcovic in Romania for second Energy Union Tour

Thursday, September 28, 2017

European Commission Vice-President for Energy Union Maros Sefcovic visited Romania on September 27 for a two-day visit where he will discuss the country’s involvement in regional energy markets and regional cooperation as well as the progress it is making in meeting its 2020 climate and energy targets and in contributing to the goals of the Energy Union, neweurope.eu informs. He stressed that investing in regional gas ...

Hidroelectrica and Elektropriveda Srbije want to solve the amiably the conflict regarding the power unit in Portile de Fier

Thursday, September 28, 2017

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The leadership of Hidroelectrica and that of the company Elektropriveda Srbije which manage together the unit Portile de Fier on the Danube want to solve amiably the conflict connected to the exploitation of the hydro power station not to get to the tribunal, according to a press release of the Hidroelectrica. ‘A delegation of the Hidroelectrica led by Bogdan  Badea the chairman of the Board went to the hydropower station Portile de Fier I ...

Minister Petcu: 10 pct of Hidroelectrica is listed on BVB

Thursday, September 28, 2017

Energy minister Toma Petcu, said this Saturday in Alba Iulia that he had announced the Government last week regarding the listing of 10 percent of Hidroelectrica shares on the Bucharest Stock exchange (BVB), and the percentage was 15 percent as initially proposed. “We intend firstly to make the listing. We made an announcement to the Government a week ago regarding the intention of change,” said Petcu in a ...

Gas price for households to increase by 6 pc from October 1. Electricity goes up by 5 pc

Thursday, September 28, 2017

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The gas price for households will increase on average by 6 percent in the fourth quarter of the year, Emil Calota, president of National Regulatory Authority for Energy (ANRE) said on Tuesday. According to him, the Regulatory Committee takes into account the elements occurred in the natural gas market and the impact of the costs imposed by the distribution and supply operators. In terms of exchange rate developments, the ...

MOL Group Seeks Startups Offering Innovative Solutions

Thursday, September 28, 2017

Selected companies could be given an opportunity to  access parts of MOL’s retail infrastructure and extensive customer base to test their innovative solutions In line with its 2030 strategy, tapping  external potential will support MOL in becoming the primary source of mobility solutions in the CEE region According to the statement sent to ACTMedia, MOL ...

The new trading and clearing services will bring Romania closer to European standards

Thursday, September 28, 2017

* Workshop about the upcoming services was held by KELER CCP and BRM KELER CCP and the Romanian Commodities Exchange (BRM, Bursa Romana de Marfuri) held a workshop for the Romanian market participants to present the details of the new trading mechanism and the related clearing services for the forthcoming market launch, a press release sent to ACTMedia informs. As it was announced earlier in September the Hungarian ...

Romania to have a national database of mineral resources

Thursday, September 28, 2017

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Romania will have a national data base on mineral resources, with the approval of the Geological Research Programme by the Government, Anca Magdalena Chiser, Secretary of State in the Ministry of Economy, told a Monday's relevant ...

EU plan to cap fossil fuel subsidies will stymie renewables, power utilities warn

Thursday, September 28, 2017

A European Commission proposal aimed at capping fossil fuel subsidies across the EU could have perverse effects by promoting investments in new gas-fired power plants instead of renewable energies, according to a new study quoted by euractiv.com. As part of the EU’s plans for an internal electricity market, the European Commission has proposed putting a carbon cap on power plants, which would preclude any facilities emitting more than 550g ...

Scientists see ‘clear evidence’ of climate change behind 2017 heatwave

Thursday, September 28, 2017

The record heat observed across Europe this summer was made “at least ten times more likely” because of climate change, scientists have concluded in a new study released on Wednesday (27 September), euractiv.com reads. The World Weather Attribution (WWA), an international coalition of scientists assessing climate change influences on ...

Creditors unanimously approved the reorganization plan for Prospectiuni SA

Thursday, September 28, 2017

On Monday, Assembly of Creditors for Prospectiuni SA decided unanimously to approve the reorganization plan proposed by the judicial administrator Euro Insol. The plan was approved by all five categories of creditors: secured, wage claims, budgetary creditors, indispensable and chirographs. The reorganization plan provides for the full payment of debts totaling 93 million lei to creditors over a period of 3 years, according to the Definitive Debt ...

ANRE approved spot gas segment on the state OPCOM exchange

Thursday, September 28, 2017

The National Regulatory Authority for Energy (ANRE) has approved the operation of the spot gas market on the OPCOM stock exchange, shows a press release from the institution. “Today, September 20th, 2017, the meeting of the ANRE Regulatory Committee was held, which approved the procedures that allow the operation of the Day Ahead Market of Natural Gas (PZU-GN), managed by OPCOM. By using this new trading product, market participants have the opportunity to trade ...

Romgaz analyses the exploitation of gas in the Trident area in the Black Sea

Thursday, September 21, 2017

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Romgaz and its partners in the oil block Trident analyse the possibility of digging new wells after the exploitations made until now have shown there is potential for new discoveries of gas in the area, stated on Friday Vlad Pavlovschi, manager of business development in Romgaz during the conference on energy issues. He spoke about the Romgaz history in this association, after July 2010 Lukoil Overseas together with the Vanco International company ...

Excise duties go up by 0.16 lei per liter beginning last Friday

Thursday, September 21, 2017

Excise duties go up by 0.16 lei per liter beginning last Friday for all three fuel categories: leaded, unleaded petrol and diesel. The second excise rise phase is due on October 1.   Finance Minister Ionut Misa had announced the move in late August, stating that the excise will go up in two phases - on September 15 and October 1, respectively - to prevent a consumption shock that could trigger price hikes. "There will be a phased ...

Lukoil Romania involved in a tax evasion case

Thursday, September 21, 2017

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Prosecutors with the Bacau Local Office of the Directorate for Investigating Organised Crime and Terrorism (DIICOT) have conducted searches in Bucharest City and six Romanian counties in a tax evasion case with a damage in excess of 9 million lei in which the legal representative of SC Lukoil Romania SRL is also involved. "It has been noted that in 2009-2010, defendants Matei Eugen, Gherghel Amalia, Ceban Sergiu, Tirla Calin, Izvernari Danu? Nelu, Negru ...

Vast Resources reaches agreement for new mining exploitation in Romania

Thursday, September 21, 2017

British group Vast Resources and the state-owned firm Baita, which holds the license for the Baita Plai mine in Western Romania, have reached an agreement on the mine’s exploitation, romania-insider.com informs. The association process will be completed this month. As part of the agreement, the British group needs to pay the Romanian company some USD 1.6 million. Vast Resources ...

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