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Energy & Environment

Stefan Gheorghe is the new Executive Director of the Romanian National Committee of the World Energy Council (RNC-WEC)

Thursday, December 7, 2017

Stefan Gheorghe, Director of the Dobrogea Region, EnergoBit SA, took over the position of Executive Director of the RNC-WEC Association, starting with December 1, when the RNC-WEC Board of Directors approved the withdrawal from office Gheorghe Balan, energynomics.ro reads. Stefan Gheorghe has over thirty years of experience in the Romanian energy sector, in various positions of execution and management of transmission, ...

EBRD become a minority shareholder in the Black Sea Oil & Gas

Thursday, December 7, 2017

Black Sea Oil & Gas SRL (“BSOG”), currently backed by The Carlyle Group, announced that the European Bank for Reconstruction and Development (“EBRD”) has become a minority shareholder in the company. EBRD will receive one board seat as part of the investment,energynomics.ro informs. The transaction marks a significant milestone for BSOG as it approaches Final Investment Decision in the Midia Gas Development project ...

Romania's Cernavoda NPP Unit 2 to be disconnected from grid Thursday

Thursday, December 7, 2017

Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, has said one of the plant's two units will be disconnected from the grid on Thursday night as part of scheduled inspection and maintenance works, seenews.com informs. The works aim to improve the reliability of the systems of Unit 2 during the winter period, as per the preventive maintenance programme, the company said in a statement on ...

Romgaz wants to invest over 136 million euro in the gas deposit in Sarmasel

Thursday, November 30, 2017

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The state-run company Romgaz, one of the two big gas producers wants to invest 136.15 million  euro in the gas deposit in Sarmasel, to increase the storage capacity of natural gas, shows the Action Plan regarding measures to guarantee the security of natural gas supply, published by the ministry of energy. Sarmasel has a storage capacity of 900 million cubic metres. The document shows that other 87 million euro will be ...

A  gas pipe between Romania and Serbia on the relation Arad-Mokrin could be finalised in 2026, investment of  43 million euro

Thursday, November 30, 2017

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Romania has in view to sign an agreement memorandum with  Serbia for the construction  of a interconnecting pipeline between Arad and  Mokrin with the length of 80 km to grow the degree of  energy security in the region, shows an Action Plan regarding the measures for the guarantee of the safety of natural gas supply, published by the ministry of energy. ‘The analysed variant for gas export to Serbia is to take over the ...

The minister for economy: until now there have been invested 30% of the parts which could have uranium sources

Thursday, November 30, 2017

Radioactiv Mineral Magurele, the only company for geological research of the state, estimates that the potential for uranium resources where so long has been invested in, reached almost 30% announced on Friday the  ministry of economy following the meeting with the representatives of the ministry and the leadership of the society. The Radioactiv company  administers the parts of geological exploration of rare materials and radioactive ones ...

Turkey, Azerbaijan, Romania play key role in energy supplies: Georgian official

Thursday, November 30, 2017

Georgian Deputy Prime Minister and Foreign Minister Mikheil Janelidze, speaking at the 28th meeting of the Energy Charter Conference in Ashgabat, supported the efforts of Europe to diversify energy sources, noting the role of Turkey, Azerbaijan and Romania in ensuring energy supplies in the region, azernews.az reads. “Turkey, Azerbaijan and Romania play an important role in ensuring energy supplies in the region, and Georgia is ready to fulfill ...

Southern Gas Corridor is a living example of multilateral cooperation in the EU’s East

Thursday, November 30, 2017

The multi-billion euro Southern Gas Corridor should not be seen as a mere energy security project; it is a robust interconnectivity initiative which will bring closer other partners in Central Asia seeking access to the EU market, writes the Embassy of Azerbaijan to the EU. This text was sent to EURACTIV by the Emabssy of Azerbaijan in Brussels following the publication ...

EBRD acquires stake in Romania’s Black Sea Oil & Gas

Thursday, November 30, 2017

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The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has acquired an equity stake in Romania’s Black Sea Oil & Gas (BSOG), seenews.com reads. In August, the EBRD said it is considering a $23.4 million (19.9 million euro) equity investment in BSOG. “With this landmark equity transaction, our intention is to support the development of this private upstream oil and gas company in Romania," Matteo Patrone, EBRD ...

Enel to invest 565 million euro in infrastructure and networks în Romania

Thursday, November 30, 2017

Enel will invest 565 million euro in infrastructure and networks on the Romanian market, 2018 through 2020, company representatives communicated on Tuesday in a press conference. Of this amount, 329 million euro are meant for development investments. Moreover, Enel will invest a further 400 million euro for the digitalisation of networks and processes. The company has also made it its mission to lower the average span of unplanned ...

Energy prices in 2017 : Household energy prices in the EU down compared with 2016

Thursday, November 30, 2017

In the European Union (EU), household electricity prices slightly decreased (-0.5%) on average between the first half of 2016 and the first half of 2017 to stand at €20.4 per 100 kWh. Across the EU Member States, household electricity prices in the first half of 2017 ranged from below €10 per 100 kWh in Bulgaria to more than €30 per 100 kWh in Denmark and Germany. Household gas prices fell by 6.3% on average in the EU between the first ...

Raffles Energy SRL announces New Gas Discovery in EIV-1 Suceava Concession, Romania

Thursday, November 30, 2017

Raffles Energy SRL, a wholly owned subsidiary of the UK-based Raffles Energy Group, has announced that a new gas discovery has been made recently in the Exploration Area of EIV-1 Suceava Concession (Raffles 50% and operator, PXOG Massey Limited 50%) in North Eastern Romania, energynomics.ro reads. The Bainet-1 well, targeting an exploration prospect analogue to the Bilca gas field, was drilled to a total depth of ca 600m. The conventional natural gas ...

ANRE published the draft regulation for the competitive designation of SoLR

Thursday, November 30, 2017

Given that as of 1 January 2018 liberalization of the electricity market will be completed, also for households, and most of these have not yet opted for a supplier on the competitive market, the role of suppliers of last resort will substantially increase, from next year, energynomics.ro informs. In addition, the updates introduced by the competitive ...

Rise of cheap renewables disrupts EU energy plans for 2030

Thursday, November 23, 2017

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The rapid fall in costs of wind and solar power, combined with flexible demand technology, could replace “more than half” of coal and gas-powered electricity in Europe by 2030, according to new research published on Tuesday (21 November), eurativ.com informs. A report from consultants ...

Good results for the listed energy companies (Mihai Caruntu analysis)

Thursday, November 23, 2017

Some companies will record profits over estimates, while others are still dependent on strategic decisions to increase, Mihai Caruntu, head of BCR’s Capital Markets Division, told energynomics.ro. However, the estimated financial results for 2017 are sufficiently visible after the six / nine months and generally put the Bucharest Stock Exchange (BSE) in an attractive spot. A plus should go to OMV Petrom and ...

Enel to invest 565 million euro in infrastructure and networks în Romania

Thursday, November 23, 2017

Enel will invest 565 million euro in infrastructure and networks on the Romanian market, 2018 through 2020, company representatives communicated on Tuesday in a press conference. Of this amount, 329 million euro are meant for development investments. Moreover, Enel will invest a further 400 million euro for the digitalisation of networks and processes. The company has also made it its mission to lower the average span of unplanned ...

Enel and Traian Vuia International Airport in Timisoara launch the first EV charging station in a Romanian airport

Thursday, November 23, 2017

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Enel Energie and the Traian Vuia Airport in Timisoara inaugurated today the first electric vehicle charging station in an airport in Romania, in order to encourage electric mobility and a lower carbon footprint of the transport industr, the company informs in a statement sent to ACTMedia. “Enel Group launched this year a new business division called ...

S&P upgrades MOL‘s long-term credit rating to BBB- investment grade with stable outlook

Thursday, November 23, 2017

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S&P rating confirms MOL’s resilient integrated business model and strong financial profile. Following previous steps by Fitch and Moody’s, MOL has now become a full investment grade issuer. MOL Plc. has been upgraded to BBB- investment grade long-term credit and issuer rating with stable outlook by Standard and Poor’s ...

Minister Petcu: The Rompetrol memorandum will not be extended, debt payment is demanded

Thursday, November 23, 2017

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The Ministry of Energy will not extend the memorandum with KazMunaiGaz, the owner of Rompetrol, approved by Government decision in 2014, and the company will have to pay its debt to the state in order to prove its good faith, Toma Petcu said on Thursday, during the hearings in the parliamentary commission of inquiry on the activity of ANRE, energynomics.ro informs. “When I took over the mandate (January 2017 – e.n.), the MoU was to expire in the third month. I ...

Reuters: Romania closes one case against Russia's Lukoil, related trial still on

Thursday, November 23, 2017

Romanian prosecutors have decided to close a criminal case against Russia’s Petrotel Lukoil refinery in Romania over allegations of money laundering, although the trial of a larger related case continues, they said on Friday, Reuters correspondent informs. A spokeswoman for the prosecutors did not say why the case had been closed. In 2015, prosecutors attached to the court of appeals of the central Romanian city of ...

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