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Energy & Environment

Rompetrol Rafinare, increase by 27% of raw materials processed in the first half of 2018

Thursday, August 16, 2018

  * Consolidated Financial Statements of Rompetrol Rafinare include results of Rompetrol Rafinare S.A. and results of subsidiaries Rompetrol Quality Control S.R.L., Rom Oil S.A., Rompetrol Downstream S.R.L., Rompetrol Logistics S.R.L. Rompetrol Gas S.R.L and Rompetrol Petrochemicals S.R.L. Rompetrol Rafinare, member of KMG International, recorded in the first half of this year, an increase by more than 50% ...

OMV Petrom started production from the first multilateral well drilled in Romania

Thursday, August 16, 2018

OMV Petrom announced it has started production from a new offshore well LVO7, drilled in the Lebada Vest field, energynomics.ro informs. According the company, LVO7 is the first multilateral well drilled in Romania, a new technology that allows us to reach different target zones within a reservoir ...

Transgaz posts 30 pct profit drop due to lower revenues from internal & international gas transport

Thursday, August 16, 2018

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Romania’s monopoly gas transport system operator Transgaz had posted a 30 percent lower net profit for the first half of 2018 compared to the same period of 2017 as a result of its 11.5 percent lower revenues and a 3.61 percent increase in expenditures, according to Profit.ro quoted by http://business-review.eu. The company’s net profit was RON 279 million, while the turnover dropped by 14 percent, from RON 1 billion in H1 2017 to RON ...

Electrica, net profit of over 26 times higher in S1, as opposed to S1 2017

Thursday, August 16, 2018

Electrica group reported a consolidated net profit of 210 million lei, during the first semester of this year, raising over 26 times from the similar period of 2017, according to the financial data published on Tuesday by the company.The profit obtained for 6 months represents 83 percent of the consolidated budget net profit for 2018."It is remarkable to see the significant improvement of the financial results, recorded by the Electrica Group during ...

PRIMARY ENERGY RESOURCES, up 4.5pct in H1 2018

Thursday, August 16, 2018

- During 1.I.– 30.VI.2018, primary energy resources increased by 4.5%, while those of electricity decreased by 0.5% as compared to the same period of previous year. Romania's primary energy resources grew by 4.5 percent in the first six months of 2018, to 17,045 million tonnes of oil equivalent (toe), while electricity prices dropped by 0.5 percent from the same period last year, reaching 33.984 billion kWh, according to data released on ...

Rompetrol, a premiere for the city of Bacau – its first EV charging station

Thursday, August 16, 2018

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Rompetrol Downstream, the retail division of KMG International Group in Romania, inaugurates today a new Rompetrol station in Bacau, on Milcov Street no 5A, the company informs. This is the third unit in the city and it comes in addition to the other gas stations located on the European road E85, that connects Bucharest and Suceava (Stefan cel Mare Street no 66 and Republicii Street no 100). For the first time in the city of ...

ANRE approved standard products for natural gas trading on centralized markets

Thursday, August 16, 2018

The Regulatory Committee of ANRE approved the centralized list of natural gas standardized products to be traded on the centralized markets for the short, medium and long term, energynomics.ro informs. The ANRE ...

Hidroelectrica posts record RON 962 million net profit in H1 2018

Thursday, August 9, 2018

Hidroelectrica, a state-owned hydropower company, has posted a record profit in the first half of this year, due mainly to controlling costs, the company said on Tuesday quoted by http://business-review.eu. The company recorded a gross profit of RON 962 (around EUR 207 million), the largest in its history, up 34 percent from H1 2017. Hidroelectrica’s turnover grew by 17 percent year-on-year in ...

Eurostat: Romania reports lowest price per kilowatt hour of household gas in 2017

Thursday, August 9, 2018

In 2017, Romania recorded the lowest price per kilowatt hour of household gas among the EU member states, according to data released on Tuesday by the European Statistical Office (Eurostat).For the first time, Eurostat is publishing prices for electricity and natural gas that are fully comparable across countries. The prices for electricity and gas in the EU can vary according to a range of supply and demand conditions, including the geopolitical situation, the ...

Mol Group’s diesel sales up 2 percent in H1 2018

Thursday, August 9, 2018

Hungarian Mol retail sales were stable in Romania in the first half of 2018 compared to the same period in 2017, http://business-review.eu informs. Thus, retail sales of gasoline volumes slightly decreased by 1 percent, while diesel volumes increased approximately 2 percent, compared to the same period last year. EBITDA reached USD 1.3 billion after the ...

BSOG completes the two well exploration drilling program in the Black Sea

Thursday, August 9, 2018

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Black Sea Oil & Gas SRL (“BSOG”), together with its co-venture partners, announce the completion of a two well exploration drilling program in the XV Midia block, offshore Black Sea, romaniajournal.ro reads. The drilling campaign was initially scheduled to start in Q4 2017, subject to rig availability. BSOG used the drilling unit “GSP Saturn” for this campaign. GSP Saturn is a four-legged, self-elevating jack-up, with a ...

Ambassador Maior: Hungary must understand the importance of gas exploitation in the Black Sea

Thursday, August 9, 2018

Exploiting natural gases in the offshore and onshore sectors and the strategic projects ran on the Black Sea, especially, will be a success for the economy and security of Romania, Romanian Ambassador to the USA, George Cristian Maior, said in a statement regarding the investment projects in the energy sector on the Black Sea."Capitalizing the natural resources of Romania in the service of the country is a priority project," Maior underscored after presenting, in ...

E-Distributie Banat finished the upgrade of Teba station, for 16.500 consumers

Thursday, August 9, 2018

E-Distribu?ie Banat finalized the modernisation project of the Teba primary station, after an investments worth about 10 million lei (more than 2.1 million euros), improving the quality of the electricity distribution services for approximately 16,500 consumers. The 110/20 kV station now provides a more reliable service for household and also industrial consumers in the central part of the City of Arad, among which the water treatment plant, the Arad ...

OMV Petrom anticipates 3.7 bln lei worth of CAPEX this year, H1 investment up 130 pct

Thursday, August 9, 2018

OMV Petrom anticipates CAPEX (including capitalized exploration and appraisal) to be around 3.7 bln lei this year, of which around 75 percent will be in the Upstream exploitation and production segment; the company reported investments of 2.1 billion lei in H1 2018, up 130 percent compared to the same period last year, as per the Group's consolidated financial statements (unaudited), released on Thursday.The increase in investments is mainly due to a ramp-up in ...

OMV Petrom reports net profit up 6 pct, H1 2018

Thursday, August 9, 2018

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 OMV Petrom Group recorded in H1 this year a net profit worth 1.28 billion lei,up 6 percent as compared to the similar period of 2017, namely 1.21 billion lei, according to the financial results released on Thursday by the company.The earnings per share amounted to 0.0227 lei, up 6 percent in H1 2018.In Q2, the company had a profit down 27 percent, to 434 million lei, as compared to 592 million in Q2 2017.The result from exploitation ...

The Energy Ministry calls for the change of negotiation team for Reactors 3 and 4

Thursday, August 9, 2018

The Ministry of Energy postpones further negotiations for the construction of Cernavoda Reactors 3 and 4 with the Chinese side and calls for the appointment of a new negotiating committee, energynomics.ro informs. Thus, the Ministry of Energy asked the Nuclearelectrica management to complete the agenda of the Extraordinary General Meeting of Shareholders of SNN dated 22.08.2018, by introducing a new point, namely: “Postponement of the approval of the revised form of the ...

Offshore Law: US Energy Secretary Rick Perry called in the Romanian ambassador for talks

Thursday, August 2, 2018

Romanian Ambassador in Washington, George Maior, had a meeting with US Energy Secretary Rick Perry and talks focused on offshore law recently adopted by Parliament as “there are some fears,” according to Romanian Foreign Minister, Teodor Melescanu, energynomics.ro informs. Melescanu said the meeting is a common thing for two allied states and the American secretary had to be sure that there is a concordance between the text of the offshore law and the annex on ...

USR's Dan: President Iohannis should return off-shore drilling law to Parliament for real debate

Thursday, August 2, 2018

Former leader of the Save Romania Union (USR) Nicusor Dan is urging President Klaus Iohannis to return to Parliament the off-shore drilling law to increase Romania's share of the Black Sea gas exploitation, arguing that the piece of legislation passed without a real debate, without impact studies or reckonings."The off-shore drilling law passed through Parliament without a real debate, without impact studies and without concrete reckonings showing how much Romania ...

Transgaz has for auction the export and import capacities of natural gas at the border with Hungary and Bulgaria

Thursday, August 2, 2018

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Transgaz published on its site the announcements regarding the sale by auction of the export –import capacities of gas from and to Hungary and Bulgaria for the gas year 2018 – 2019.Thus, the grid operators interested to keep its capacity for import or export in relation with Hungary at Csanadpalota or in relation with Bulgaria through the pipeline Giurgiu-Ruse had to be registered until 27th July so that until 31st July present the guarantee of ...

Transelectrica finalised investments of 166 million lei in the first part of the year

Thursday, August 2, 2018

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The National Company of Transport of Electricity Transelectrica announced on Wednesday that in the first quarter were finalised and put to function investments worth approximately 166 million lei. As a total, Transelectrica has planned for this year investments of 400 million lei,out of which almost 120 million is for new projects. Out of these, the main objectives are: the air electricity line of 400 kV for interconnection ...

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