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Energy & Environment

PM Orban: We will try to identify fastest solutions to unblock gas drilling in the Black Sea

Thursday, November 7, 2019

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Prime Minister Ludovic Orban on Wednesday sent a message to the investors in the energy sector that the new Government will try to identify the fastest solutions to unblock the major offshore gas projects in the Black Sea.He attended the new Minister of Economy, Energy and Business Environment Virgil Popescu's portfolio takeover ceremony."In economy, our main objective is to regain the trust of the business environment in the Government. (...) For we ...

2018 primary energy production goes down 1.7pct; energy product imports went up 4.2pct

Thursday, November 7, 2019

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Total energy resources available in 2018 stood at about the same level with those of 2017; compared to previous year, the primary energy production decreased by 1.7%, while imports of energy resources increased by 4.2%, gross inland consumption of energy increased by 0.4% and final energy consumption increased by 1.5% Romania's primary energy production declined by 1.7 percent in 2018 against the previous year, energy ...

Clarke Energy buys Romania's TEB Energy Business, Greek unit Genelco

Thursday, November 7, 2019

UK-based multinational company specialised in the engineering, installation and the maintenance of engine-based power plants Clarke Energy said on Friday it has acquired Romanian energy service company TEB Energy and its Greek subsidiary Genelco Power Systems. The deal, whose value was not disclosed, includes the addition of 38 new employees and an installed gas engine fleet in these countries of more than 200 MW in the field, Clarke Energy said in a ...

MOL Group: financial results for Q3 of 2019

Thursday, November 7, 2019

Last week, MOL Group announced its financial results for the third quarter of 2019. Despite a weaker macro environment and much lower oil and gas prices, strong Q3 EBITDA allows MOL Group to raise 2019 full year guidance to „around USD 2.4 bn” from „around USD 2.3 bn. Upstream EBITDA declined to USD 235mn in Q3, reflecting lower oil and significantly lower gas prices. The volume of hydrocarbon production slightly decreased by 1 % ...

Transgaz inaugurated second compressor station under BRUA project

Thursday, November 7, 2019

Romanian gas transmission company Transgaz [BSE:TGN] said on last Thursday that it has inaugurated the Podisor gas compressor station, part of the first stage of the BRUA gas pipeline project. The value of construction works at the Podisor gas compressor station totalled 104.5 million lei ($25 million/22 million euro), Transgaz said in a press release. The two compressor units fitted at the station cost a further 12.6 ...

ENEL JOINS “VALUABLE 500” GLOBAL MOVEMENT THAT PUTS DISABILITY ON BUSINESS AGENDAS

Thursday, November 7, 2019

Rome, November 6th, 2019 - Enel has joined the “Valuable 500”, a global movement calling for the participation of 500 private companies aimed at unlocking the business, social and economic value of people living with disabilities across the world. The Group, which has already integrated disability into the agenda of its Board of Directors, has taken a public commitment to disability action. Maria Patrizia Grieco, Enel Chairman, commented: ...

Romgaz is looking at greenfield development of wind and solar projects

Thursday, November 7, 2019

Romanian state-owned gas producer Romgaz is looking at greenfield development of wind and solar projects as it plans to begin producing electricity from renewable sources, Alexandra Posea, investor relations manager at Romgaz, said at BR’s Foreign Investors Summit. She spoked about the current challenges in the local gas market. “The challenges in the gas market are many. One of them is the fact that the gas is on ...

Ukraine ready in case transit of Russian gas stops

Thursday, November 7, 2019

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Ukraine is ready for the gas transportation being stopped on the Ukrainian territory in case a new gas transit contract with Moscow is not negotiated, Ukraine’s Energy Minister Oleksiy Orzhel announced on Monday (4 November). The current gas contract expires on 31 December, euractiv.com reads. EU-mediated talks about the gas contract are currently in a deadlock. The EU has invested a lot of effort into ...

OMV Petrom Jan-Sept net profit rises 3% on higher sales

Thursday, October 31, 2019

Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Wednesday its net profit rose by 3% year-on-year to 2.76 billion lei ($643 million/580 million euro) in the first nine months of 2019. The increase was sustained by higher sales, blue-chip OMV Petrom said in its third-quarter unaudited consolidated financial statement filed with the Bucharest Stock Exchange, BVB. Sales rose 13% year-on-year to ...

German petroleum industry is convinced: The future belongs to cloud and web services

Thursday, October 31, 2019

* IFLEXX Meeting 2019 discusses community reorientation With data communication being a vital element of a seamless downstream supply chain, partnering companies must agree upon common processes and standards. To discuss this topic further, key players of the German petroleum industry gathered at the 15th IFLEXX meeting in Bochum on Thursday, October 24. All in all, 14 companies followed the invitation of the international software and consulting firm ...

Rompetrol Bulgaria opened its 55 fuel station, in Dupnitsa

Thursday, October 31, 2019

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Rompetrol Bulgaria has officially opened a new fuel station in Dupnitsa, a city located 70 km south of the capital Sofia. Dupnitsa is an important industrial and commercial center in the western region of Bulgaria, with modern facilities in the pharmaceutical sector and heavy vehicles. Thus, Rompetrol Bulgaria has created 9 jobs and is still committed to community development, through jobs generated and taxes paid. The new station is considered a step ...

Romgaz: We are looking at greenfield development of wind and solar projects

Thursday, October 31, 2019

Romanian state-owned gas producer Romgaz is looking at greenfield development of wind and solar projects as it plans to begin producing electricity from renewable sources, Alexandra Posea, investor relations manager at Romgaz, said at BR’s Foreign Investors Summit. She spoked about the current challenges in the local gas market. “The challenges in the gas market are many. One of them is the fact that the gas is on ...

Greenlight for Lukoil Overseas drilling operations in Romanian Black Sea waters

Thursday, October 31, 2019

The Competent Authority for Regulation of Offshore Oil Operations in the Black Sea (ACROPO) has sent Lukoil Overseas its greenlight so the latter may start oil drilling operations in the Trident perimeter of the Romanian Black Sea territorial waters, according to a Facebook post of the institution."In accordance with the provisions of Law no. 165/2016 regarding the safety of offshore oil operations, with the subsequent modifications and amendments, following the ...

Hunedoara Energy Complex asking for insolvency again following huge loss, debts

Thursday, October 31, 2019

Hunedoara Energy Complex, a state-owned company with 4,000 employees, has asked for insolvency on Monday. Despite the state aids the complex had enjoyed over the time, Hunedoara Energy Complex has posted huge losses of over RON 270 million in the first half of 2019 ad debts ...

Hidroelectrica spends EUR 80 mln to refurbish 350MW power plant

Thursday, October 31, 2019

Romania’s state-owned hydropower company Hidroelectrica will totally refurbish its hydropower plant (CHE) Rau Mare - Retezat under a EUR 80 million project, financed from own funds. The plan’s capacity will increase to 350MW after the ...

Gas prices for household consumers could go up about 10pct as of 1 April 2020

Thursday, October 31, 2019

The regulated gas price could increase by about 9-10 percent as of 1 April 2020 if the liberalisation calendar comes into force, the one which the Romanian authorities are drafting, according to some sources in the energy sector.The new liberalisation calendar agreed by the Romanian authorities and the European Commission stipulates that the gas market will be completely liberalised as of 1 April 2021, however, between 1 April 2020 and 31 March 2021, there will be ...

Vast Resources inks bond deal to fund Romania and Zimbabwe mine projects

Thursday, October 31, 2019

* "The bonds provide the required capital to enable the company to bring its two core assets, Baita Plai in Romania and the diamond concession in Zimbabwe, into production." According to www.proactiveinvestors.co.uk,Vast Resources ...

Hidroelectrica inaugurates new 12MW power plant

Thursday, October 31, 2019

State-owned Hidroelectrica, the biggest electricity producer in Romania, announced that it has commissioned a 12MW power plant at Bretea - on Strei river, in Hunedoara county (western part of Romania). This is also the first automated plant, remotely controlled - a technology that will be deployed to each of Hidroelectrica’s 200 hydropower plants in operation. The construction of the Bretea hydropower plant, which started ...

Bankwatch Romania stops expansion of Romania’s largest coal mine

Thursday, October 31, 2019

A Bucharest court blocked the expansion of Rosia de Amaradia, the largest coal mine in Romania located in Gorj county (and operated by coal and power group CE Oltenia), following a legal challenge to the mine's environmental permit lodged by Bankwatch Romania, the environmental organisation announced. In 2016, Complexul Energetic Oltenia (CEO), the largest energy company in Romania, sought to expand the existing 1457-hectare hard coal mine at Rosia by ...

EY Romania: starting with 1 January a contribution will  be paid for the non-compliance with the annual obligation of collection of electrical and electronic equipment 

Thursday, October 24, 2019

The companies producers of electrical and electronic equipment (EEE) have three months left until the contribution which they pay, at present, for the non-declaration of EEE will turn into contribution for the non-compliance with the annual obligations for collection, draw the attention the specialists from EY Romania.‘The waste from electrical and electronic equipment (EEE) such as computers, television sets, fridges and mobile phones are part of the waste ...

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