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Energy & Environment

MOL GROUP Q1 2017: ROBUST EARNINGS GROWTH FOR ALL BUSINESS SEGMENTS

Thursday, May 11, 2017

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MOL Group delivered CCS EBITDA of USD 614 mn, a 21% increase year-on-year Upstream’s contribution increased by 50% compared with Q1 2016 All time high first quarter results in both Downstream and Consumer Services (Retail) Net profit up by 24% year-on-year to USD 323mn Friday, ...

Works on the Bulgaria-Romania-Hungary-Austria (BRUA) gas pipeline to start this November

Thursday, May 11, 2017

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Romania's Transgaz natural gas transmission company is expecting works on the Bulgaria-Romania-Hungary-Austria (BRUA) gas pipeline to start this November, with the pipeline estimated to cross nearly 20,000 private lands, Romania's Economy Ministry said Wednesday in a press statement. "Transgaz is about to complete the environmental and social assessment reports for the project," Iulian Butnaru, manager at the BRUA project management unit is quoted as ...

EnergMin Petcu: Electrica files bid to take over CEZ Bulgaria

Thursday, May 11, 2017

Romania's electricity supplier and distributor Electrica has filed a bid to take over the shares held by the CEZ company in Bulgaria, Romania's Energy Minister Toma Petcu told online publication DC News in an interview on Tuesday. "Electrica has filed a bid to take over the shares CEZ holds in Bulgaria. It is about the company that provides electricity to ...

Enel to install over 150,000 smart meters in Romania this year

Thursday, May 11, 2017

Italian utility Enel will install over 150,000 smart meters in Romania this year, adding to the 140,000 units it already rolled out for its customers in 2016, business-review.eu informs. The smart meters will be installed in Muntenia Sud, Dobrogea and Banat, the areas in which Enel has its distribution operations. “The digital transformation brought by smart meters bring place the consumer in the center of our attention, ...

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 ...

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