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Energy & Environment

Petromidia refinery registered last year an  increase of the nitrogen oxide emissions to 514 tonnes

Thursday, July 19, 2018

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The Petromidia refinery, including Divizia Petrochimica reduced last year the sulphe oxide (SO2) emissions with 3.5% against 2016, but registered an increase of the nitrogen oxide (Nox) from492 tonnes in 2016 to 514 tonnes in 2017. In its turn, Rafinaria Vega registered a huge quantity of emissions of SO2 with 242 kg in 2017, as comparedto 201 kg in 2016, as well as emissions of Nox slightly higher,  from 60.81 tonnes in 2016 to 63.47 tonnes in 2017, according to the ...

The impact of the Offshore law on investments in Black Sea area

Thursday, July 19, 2018

The changes made to the ”Offshore Law” will have a big impact on the oil industry activity and the main issue is that there were no prior consultation or impact assessments, http://business-review.eu reads. And there are quite a few questions on the effects of the law, as we can see from the analysis made by Alex Milcev from EY Romania. Petroleum agreements holders in offshore perimeters received ...

Transgaz plans EUR 160 mln investments abroad

Thursday, July 19, 2018

Romanian state-owned gas transport company Transgaz has included a sum of EUR 164 million for acquisitions abroad in its investment plan for 2017. The company’s total investment budget for this year amounts to almost EUR 400 million, ...

Gas royalties will no longer be related to Austrian prices, ANRM says

Thursday, July 19, 2018

The National Agency for Mineral Resources (ANRM) is preparing to change the system: it will abandon the reference price on the Vienna Stock Exchange for the royalties’ formula and will also take into account the differences between the various deposits, romaniajournal.ro reads. The formula for calculating the royalty for oil resources will be amended by the end of the year, taking into account a reference price on the domestic market (OPCOM and ...

Crude imports over January - May 2018 were up by 21.8 percent

Thursday, July 19, 2018

Romania's crude imports over January - May 2018 were in excess of 3.46 ml toe, up by 620,100 toe (21.8 percent) from the same period of the year before, the National Institute of Statistics (INS) announced. The country's crude output in the reporting period was of 1.394 ml toe, down 2.9 percent (42,200 toe) YoY.Under Romania's Energy Strategy posted on the website of the Energy Ministry, the country's production of crude will continue to slowly ...

ENEL REACHES 1 MILLION RESIDENTIAL CUSTOMERS ON THE FREE ELECTRICITY MARKET IN ROMANIA

Thursday, July 19, 2018

Enel Energie and Enel Energie Muntenia, the leading energy suppliers on the Romanian electricity market, announce reaching the mark of 1,000,000 household customers on the free market, the company said în a press release sent to ACTMedia. “Placing consumers at the core of our business, while also embracing innovation in order to simplify the life of our customers, has helped us build trust among consumers. It is our commitment to offer ...

Reuters: KazMunayGaz still plans to buy another 27 percent stake in Rompetrol from Romania

Thursday, July 19, 2018

KMG International (KMGI), a subsidiary of Kazakh state oil company KazMunayGaz, said on Thursday it still plans to buy another 26.7 percent of Rompetrol Rafinare S.A. from the Romanian government, Reuters informs. KazMunayGaz and Romania agreed in 2013 that the Kazakh company would acquire 26.7 percent in Rompetrol Rafinare for $200 million and set up an investment fund with capital of $150 million and assets worth up to $1 ...

Turnaround at Romanian oil refinery to weigh on OMV Petrom's Q2 fin results

Thursday, July 19, 2018

Romania's top oil and gas group OMV Petrom said on Wednesday that a 45-day turnaround at its refinery in Romania is expected to have a negative impact on the company's financial results for the second quarter of the yea, seenews.com informs. The turnaround is expected to have impacted the second-quarter Downstream Oil Clean CCS Operating result by around 150 million lei ($38 million/32 million euro) compared to the first quarter, OMV Petrom said in a ...

PRIMARY ENERGY RESOURCES  up 2.6, Jan.-May 2018

Thursday, July 19, 2018

- During 1.I.– 31.V.2018, primary energy resources increased by 3.8%, while those of electricity decreased by 0.2% as compared to the same period of previous year. Romania's final electricity consumption January through May 2018 increased by 2.6 percent compared to the same interval of 2017, up to 23.516 billion kWh, while the public lighting recorded a 4.7 percent drop and the household consumption declined by 10.2 percent, a release of ...

Priorities of the Energy Ministry for the second semester of 2018

Thursday, July 19, 2018

The Ministry of Energy has six intense months ahead, while it works intensively on at least nine fronts, each with strict deadlines before the end of this year. The National Integrated Energy and Climate Change Plan – PNIESC is the document in which all the dominant themes of the Romanian energy sector meet, and it must be submitted to the European Commission before December 31st, Elena Popescu, general director in the ministry, told ...

Finance Ministry wants to cap internal natural gas prices at RON 55/MWh by 2021, risking infringement from EU

Thursday, July 19, 2018

The Public Finance Ministry (MFP) has proposed the capping of the price of natural gas from internal production at RON 55/Mwh by June 30, 2021, according to a project published on the Ministry’s website, http://business-review.eu reads. “In order to ensure a fair competitive environment for the natural gas sector in Romania and to stop the uncontrolled rise in the price ...

Romania adopts offshore energy law, angers majors

Thursday, July 12, 2018

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Romania’s Chamber of Deputies voted in favour of a new offshore law on Monday evening (10 July) that will impose taxes on oil and gas companies operating in the Black Sea, EURACTIV.comreads. The ruling party’s controversial leader insisted it will help cut reliance on ...

Oil companies warn Romania’s new offshore gas law might hamper investments

Thursday, July 12, 2018

The owners of offshore petroleum concessions in Romania’s Black Sea has warned that the amendments passed by the Chamber of Deputies to the offshore gas law “will have a negative impact on the offshore oil and gas industry” and might discourage investments in the Black Sea, http://business-review.eu reads. The investors are worried by fiscal amendments in the new law that have been ...

Romania Resists Pressure to Rush Offshore Gas Bill

Thursday, July 12, 2018

Romania is resisting pressure to rush through legislation to regulate offshore exploitation of its Black Sea gas deposits – amid a spat with Hungary over the lack of infrastructure and the slow progress in adopting relavant legislation so far.   A public dispute erupted last Wednesday after Hungarian Foreign Minister Peter Szijjarto told the Washington World Gas Conference that Romania needed to be pressured to adopt legislation and upgrade its infrastructure. A US ...

Transgaz confirms no EU rules at key interconnection point because of Gazprom

Thursday, July 12, 2018

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 Romanian gas transmission system operator Transgaz has confirmed that it has been unable to apply a requirement of the European network code at a key interconnection point after Russia’s Gazprom threatened to cut supplies to Eastern Europe ahead of ...

KMG International publishes its 2017 sustainability report and announces the best results in the history of the Group

Thursday, July 12, 2018

KMG International publishes its fourth sustainability report, drafted according to international standards (Global Reporting Initiative G4), and announces the economic, social, environmental and marketplace performance of the Goup’s strategic development areas in the 2017 interval. "In 2017, our Group reached the highest level of operational and financial indicators since the establishment of Rompetrol and Petromidia Refinery, and 10 years after its takeover by KazMunayGas; ...

New country manager for CEZ Romania

Thursday, July 12, 2018

Ondrej Safar will take over the position of country manager and president of the directorship of CEZ Romania starting August 1, after Martin Zmelik is relocated to the company’s base office in Prague, romaniajournal.ro informs. Safar worked within CEZ Romania before, between 2005-2012, and he is currently general manager of the CEZ branch in Turkey. Martin Zmelik says he will be involved in strategic projects at CEZ office in Prague, for instance in transferring smart ...

Moody’s grants Transelectrica a Ba1 rating, improving its outlook

Thursday, July 12, 2018

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The National Power Grid Company Transelectrica SA informed shareholders through a BSE statement that the International Rating Agency Moody’s Investors Service has reconfirmed last year’s rating of the National Power Grid Company Transelectrica SA of Ba1 and also improved the company’s perspective, from stable to positive, energynomics.ro infoms. “Moody’s rating is a favorable objective opinion on Transelectrica’s ability to honor its financial ...

Siemens Energy Management: Ready for the digitalization!

Thursday, July 12, 2018

Siemens is ready to cover from local resources the digitalization projects which will definitely not circumvent Romania: the rates of employment at the Energy Management division in Romania might see a two-figure percentage increase this year. The total volume of investments in the market grew in the second half of last year and this trend is expected to be maintained in 2018. Meanwhile, Siemens installed the first functional storage megawatt in Romania – a project it will make public ...

Transaction between KMG and China’s CEFC for KMG International NV, former Rompetrol Group, failed

Thursday, July 5, 2018

The transaction for the takeover by Chinese company CEFC (China Energy Company Limited) of 51% of the KMG International NV (former Rompetrol Group) shares has failed, sources close to the negotiations have told Reuters, quoted by capital.ro. KazMunayGas officially informed in April 2018 that the transaction between CEFC China Energy Company Ltd, in order to take over 51% of KMG International NV shares has been postponed for June, for reasons related to ...

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