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Energy & Environment

After the BRICs, it's time to focus on the VARPs

Thursday, December 8, 2016

* Emerging market equities were mostly wrong-footed by the US presidential election result, Tim Love, investment director for emerging market equities at GAM, said in a commentary for cnbc.com . If President-elect Donald ...

Report: EU on track to meet 2020 target for renewable energy

Thursday, December 8, 2016

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By EurActiv.com with AFP EU countries are on track to meet their 2020 targets for renewable energy and emissions cuts but could fall short of ambitious longer-term goals, the European Environment Agency (EEA) said on ...

RWEA: Wind industry salutes the new law, which remains, yet perfectible

Thursday, December 8, 2016

Romanian Association for Wind Energy (RWEA) announced in a statement that it welcomes the decision of the authorities to take steps to amend renewables legislation and thw support schemes for manufacturers, severely affected by legislative changes in the last three years. “RWEA supports rational decisions aimed at finding a reasonable compromise between ensuring the financial performance of producers in the renewables industry and minimizing the ...

EU unveils Winter Package of power market reforms

Thursday, December 1, 2016

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EU regulators unveiled reforms on Wednesday (30 November) to promote a greater share of renewables in Europe’s grid by 2030, with plans to cut energy use by 30%, phase out subsidies for coal-fired plants and enforce greater cross-border trade, euractiv.com informs. The European Commission’s draft, seen by Reuters, seeks to meet goals on cutting emissions and adapt Europe’s grid to a roll out of digital technologies and growth of wind ...

Iran, Romania sign $700 million energy deal

Thursday, December 1, 2016

* Iran and Romania have signed an initial agreement to build a 1,000-megawatt power station near the Iraqi border, IRNA says.  The agreement was signed during a recent trip by Iranian Foreign Minister Mohammad Javad Zarif to several east European states, the news agency reported. “The MoU for the construction of a 1,000-megawatt power station in Mehran was signed by Iranian and Romanian ...

New player Rottco starts pump installations

Thursday, December 1, 2016

New Romanian fuel retailer Rottco Synergy will install the first 30 pumps this week, petrolplaza.com reports. After announcing plans to create a network of independent gas stations in Romania last May, Bucharest-based Rottco is rolling out its first 30 fuel pumps, with a further 30 planned for December and January. Rottco Synergy is a new gas station operator created in Romania through the affiliation of several individual fuel retailers, reports ...

Allianz to acquire 30 pct of the E.ON Distribution Romania’s shares

Thursday, December 1, 2016

Allianz group announced today the agreement closing between Allianz Capital Partners and E.ON Group to acquire 30 percent of the shares of EON Distribution Romania, the energy network and distribution of natural gases operator, which covers the counties from the Northern Romania, business-review.eu reads. The transaction is expected to be closed until the end of this year. As a result of the transaction, E.ON will own 56.5 ...

China investment in Romania oil production: Greater energy security for the EU

Thursday, December 1, 2016

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One of the largest announced Chinese investment projects in the EU, between the private CEFC China energy group, and Romania’s Rompetrol Group, now controlled by KazMunaiGas International (KMGI), totalling around 700 million US dollars, looks like it could be back on track for 2016 conclusion after productive meetings this month between the Chinese and Romanian prime ministers, followed up by a visit to Bucharest by a Chinese energy team, writes ...

State aid: Commission clears RON 447.8 million Romanian support for closing coal mines

Thursday, December 1, 2016

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According to a press release issued în Brussels, 24 November 2016, the European Commission has found Romania's plans to provide RON 447.8 million of support to alleviate the social and environmental impact of closing two uncompetitive coal mines by 2018 to be in line with EU state aid rules. The Commission concluded the support would not unduly distort competition. Following the decision taken by Romania to close two uncompetitive coal mining ...

Lulache: Nuclear energy will play a constant and substantial role in the future

Thursday, December 1, 2016

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Nuclear energy will play a constant and substantial role in the future, and Nuclearelectrica annual investments stand at 50 - 100 million euro, Nuclearelectrica CEO Daniela Lulache told the conference "Investments for Romania's energy safety" this ...

Official: Romania's 2016 - 2030 Energy Strategy should be revised

Thursday, December 1, 2016

The strategic directions of Romania's 2016 - 2030 Energy Strategy should be revised, Secretary of State with the Ministry of Energy Corina Popescu told the conference "Investments for Romania's energy safety" on ...

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 ...

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