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Energy & Environment

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 ...

Romania's OMV Petrom to invest 70 mln euro in new offshore drilling campaign

Thursday, September 21, 2017

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Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Monday it plans to invest 70 million euro ($83.5 million) into a new drilling campaign in the shallow waters of Istria block in the Black Sea, seenews.com informs.  The campaign includes the drilling of two wells by the end of this year and a further two by mid-2018, OMV Petrom said in a press release. The wells are planned to be drilled to depths of up to 2,000 ...

Romania imported from January to July 2017 as many as 4.168 million toe

Thursday, September 21, 2017

Romania imported from January to July 2017 as many as 4.168 million tonnes oil equivalent (toe), by 118,500 toe (2.8 pct) smaller than in the same period of 2016, according to data aggregated by the National Statistics Institute ...

Prospectiuni to sign contracts worth 250 mln lei in 2017

Thursday, September 21, 2017

Insolvent Romanian geophysical services provider Prospectiuni will sign contracts worth 250 million lei ($65 million/54 million euro) in 2017, its court-appointed administrator Euro Insol said on Tuesday quoted by seenews.com. In the first eight months of the year, Prospectiuni concluded contracts with an aggregate value of over 120 million lei for acquisition of geophysical 2D and 3D geophysical data and logging services with natural gas producer ...

Hidroelectrica invests 24 mln lei (5 mln euro) in upgrading Calimanesti plant

Thursday, September 21, 2017

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Romanian hydro power producer Hidroelectrica said on Tuesday it is investing 23.69 million lei ($6 million/ 5 million euro) in the modernization of its plant in Calimanesti, central Romania, seenews.com informs. The work was awarded through a tender opened by S.S.H. Hidroserv Bucharest and will be financed exclusively from Hidroelectrica's development funds. The designated equipment supplier is UCM Resita, Hidroelectrica said in a press ...

Competition Council OKs Forte Gaz GN taking over by Premier Energy

Thursday, September 21, 2017

The Competition Council had authorized the transaction through which Premier Energy takes over Forte Gaz GN, a press release informs quotd by romaniajournal.ro. Premier Energy has operations in gas supply and distribution markets. It was established in 2007 under Petrom Distributie Gaze SRL name, at that time being controlled by OMV Petrom SA. In 2013, Ligatne Limited, Cyprus, took over this company from OMV Petrom SA by signing a share transfer ...

Net coal output totalled 2.667 million tones of oil equivalent January through July this year

Thursday, September 21, 2017

Romania's net coal output totalled 2.667 million tones of oil equivalent January through July, up 14.4 per cent (336,600 toe) y-o-y, according to data centralized by the National Institute of Statistics (INS). Romania imported 249,900 net toe of coal, down 26,900 toe (9.7pct) from the same period of the year before. According to Romania's Energy Strategy project published on the Website of the Energy Ministry, Romania is said to have total ...

The “how-to” guide on renovating shopping centres launched by CommONEnergy during a high-level event in Brussels

Thursday, September 21, 2017

CommONEnergy, a research project funded by the European Union, developed these past 4 years new strategies and solutions to retrofit existing shopping centres to reduce consumptions, increase energy efficiency and comfort. The project, coming soon to an end, presented its landmark publication, Guidelines on how to approach the energy-efficient renovation of shopping centres and awarded innovative shopping centres during a full day event in Brussels. A ...

The ministry of energy resumed the negotiations with the Chinese who want to build the reactors 3 and 4 from Cernavoda

Thursday, September 14, 2017

The ministry of energy resumed the negotiations with the Chinese from CGN interested  to build the reactors 3 and 4 in Cernavoda, the Romanian party having a new mandate for  more flexible negotiaitons, stated on Thursday the minister of energy Toma Petcu at the conference ‘  Plugged energy’ organised by the Bursa newspaper. ‘Recently there was a new meeting with the Chinese. We have a new mandate with multiple ...

Gov't requests Romgaz to pay 2017 dividend early

Thursday, September 14, 2017

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Romanian natural gas producer Romgaz [BSE:SNG] said it has received a request from the government, its majority shareholder, for an early distribution of 750 million lei ($196 million/163 million euro) in dividend for 2017, seenews.com informs. Romgaz board will now convene to decide on a date for the ordinary general meeting of the company shareholders, which will have the approval of the request as the main item on the agenda, Romgaz said in a ...

OMV Petrom fined by Environment Guard

Thursday, September 14, 2017

OMV Petrom Romania company was fined with 60,000 lei by Olt County Commission of the National Environment Guard for the operation of 25 wells without the necessary documents. According to a press release of Tuesday, issued by Olt Environment Guard, the company did not observe article 94, paragraph 1 of government decision 195/2005 on environment protection. Environment commissioners applied a fine of 60,000 lei for the operation ...

Hidroelectrica's gross profit grew by 6% in first 7 months to 971.8 million lei

Thursday, September 14, 2017

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Hidroelectrica, the energy producer, one of the most profitable state companies, recorded a gross profit of 971.88 million  lei in the first 7 months of the year, on the rise by 6% compared to the same period of 2016,according to data published by the company on Facebook. The business figure made in the first 7 months amounted to 1.948 billion lei, while the net profit margin grew from 38% in July 2016 to 43% in July ...

Romania will host Group meeting on interconnection of gas networks in central and south eastern Europe

Thursday, September 14, 2017

Romania will host this year the CESEC summit over September 27-28, 2017, according to a government draft decision initiated by the Energy Ministry. “In order to accelerate the integration of gas markets in Central and South Eastern Europe and diversify natural gas supply sources, Romania next to Austria, Bulgaria, Croatia, Greece, Italy, Slovakia, Slovenia and Hungary initiated in 2015 a work group called CESEC (Central and South Eastern Europe ...

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