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Energy & Environment
Investments of 230 mln dollars, approved by Kazakh-Romanian Energy Investment Fund's Board
Thursday, March 7, 2019
The Board of the Kazakh-Romanian Energy Investment Fund approved two investment projects totaling around 230 million dollars last week, according to a Fund's press release issued on Wednesday..It is about the construction of a cogeneration plant on the Petromidia platform [south-east of the country, at the Black Sea] and the development of a local gas station network.The Board of the Kazakh-Romanian Energy Investment Fund met last week in its ...
Competition Council investigates Romgaz and OMV Petrom on how they deliver natural gas to their own power plants
Thursday, March 7, 2019
The Competition Council launched an investigation to verify the conditions under which the National Natural Gas Company Romgaz and OMV Petrom deliver natural gas to their own power generating plants. “In the framework of the investigation launched in February, the Competition Council will work with ANRE (National Regulatory Authority for Energy) to analyze whether the power generating plants of the two natural gas producers benefited from ...
Energy price rises in store for industrial consumers
Thursday, March 7, 2019
The free-market energy prices for industrial consumers will rise in the next period, but it is very important that consumers don't react emotionally in order to not cause a market slippage, Electrica CEO Corina Popescu told a press conference on Wednesday.The statement comes as the National Energy Regulatory Authority approved an increase by about 2.5 pct on average of electricity distribution tariffs as of March 1, following the introduction of the 2 pct ...
Five EU countries call for 100% renewable energy by 2050
Thursday, March 7, 2019
* The European Union’s 28 energy ministers had their first public debate on the European Commission’s 2050 climate plan on Monday (4 March) but five member states derided the lack of a 100% renewable energy scenario among the EU executive’s proposed options, euractiv.com informs. The Commission’s Clean ...
#Romania2019.eu/Political agreement on reference indices for low-carbon activities
Thursday, February 28, 2019
The Presidency of the Council and the European Parliament reached a preliminary agreement on Monday on a proposal introducing a new category of financial reference indices aimed at providing broader information on the carbon footprint of an investment portfolio, informs a press release of the EU Council."The transition to a sustainable, low-carbon economy requires us to review how we operate in business and how we invest our money. Thanks to today's agreement, ...
Nuclearelectrica 2018 net profit up 27.4 pct
Thursday, February 28, 2019
National Company Nuclearelectrica (SNN) posted a 27.4 pct rise in the 2018 net profit that stood at 390.545 million lei, compared to 306.542 million in the previous year, according to the financial data released by the Bucharest Stock Exchange (BVB).The net profit per share increased to 1.3 lei from 1.02 lei.The company's total revenues were 2.128 billion lei, of which revenues from the sale of electricity amounted to 2.116 billion lei (2.111 billion ...
GEO 114/2018 will have negative effects on the natural gas market and the entire Romanian economy
Thursday, February 28, 2019
The Romanian Petroleum Exploration and Production Companies Association (ROPEPCA) brings to public opinion the results of a study analyzing the impact of Government Emergency Ordinance no. 114/2018 (GEO 114/2018) on the natural gas sector in Romania. The study, made by Deloitte Romania, reveals that GEO 114/2018 will have negative effects on the whole economy, among which we mention the decrease in contributions to the state budget, the disturbance of ...
Opinion: Overview of Romania Energy Industry
Thursday, February 28, 2019
Romania today is facing various challenges on multiple domains, energy being one of them. As the country struggles with corruption problems, a backlash from the private sector for the last fiscal changes, everything appears to fail and the EU presidentship got the country’s representatives as unprepared as this winter,energyindustryreview.com reads. Political, legal and economic instability became the national status quo during the last years, ...
E-DISTRIBU?IE MUNTENIA INVESTED OVER 24 MILLION LEI FOR BUILDING TWO HIGH VOLTAGE POWER LINES IN BUCHAREST
Thursday, February 28, 2019
E-Distribu?ie Muntenia has invested 24.35 million lei in building two new underground high voltage power lines in Bucharest, in order to increase the capacity of the grid and enhance the quality of the distribution service and the safety of the energy supply for over 100.000 customers in central and northern areas of city. Thus, E-Distribu?ie Muntenia finalized, at the beginning of this year, the project for the complete replacement of the 110 kV ...
Transgaz to spend EUR 2 bn by 2027, of which half for BRUA pipeline
Thursday, February 28, 2019
Transgaz has planned total investments of EUR 1.9 million for expanding the gas transport system, according to its 2018-2027 Development Plan, which will be put to a vote in the shareholders’ meeting on March 11. The most important project in the plan is the BRUA pipeline connecting Bulgaria, Romania, Hungary and Austria, where the following investments have been allocated: phase 1 with EUR 478.6 million, phase 2 ...
MOL’s retail fuel sales in Romania maintained their strong level in 2018
Thursday, February 28, 2019
In 2018, MOL’s retail fuel sales in Romania maintained its strong 2017 level. Retail diesel sales noted a slight increase in 2018 (by 1%), while its gasoline sales were marginally lower compared with 2017. MOL Group announced its financial results for 2018 on Friday, saying it increased its EBITDA by 10% comfortably beating its upgraded 2018 target as Upstream and Consumer Services continued to significantly increase their contributions, while a ...
Gov't plans to change mining royalties setting new benchmark
Thursday, February 28, 2019
Government plans to change mining royalties setting new benchmark on the prices registered at international commodities exchanges, a new draft bill indicates. In Romania, mineral resources in the territory and in the basement of the country and the continental shelf, economic zone in the Black Sea are considered exclusive public property belonging to the Romanian ...
Mazarine Energy will continue investments in Romanian oil fields
Thursday, February 28, 2019
Mazarine Energy, an oil company specialized in exploiting mature oil fields in Romania, estimates the country’s oil reserves at more than one billion barrels and remains interested in more investments, the company’s manager Spencer Coca said on February 20 at the ZF Power Summit energy conference. Mazarine is part of Washington-based Carlyle Group, as well as Black Sea Oil and Gas (BSOG), which operates an offshore perimeter in ...
OMV Petrom : Romania’s offshore is “huge opportunity”, but more is needed
Thursday, February 28, 2019
"The Black Sea is a huge opportunity for both OMV Petrom and Romania, but a free gas market, stable taxation and key infrastructure are necessary to move ahead with the project," OMV Petrom CEO Christine Verchere said at the ZF Power Summit on February 20. It is “a truly important project” and OMV Petrom wants to go further, so the company will continue talks with the authorities, who also want the project to move on, said the oil company's ...
Energy poverty prevalent in SEE countries, Bulgaria worst performer in EU - European Right to Energy coalition
Thursday, February 28, 2019
A majority of EU countries have significant levels of energy poverty, especially prevalent in Southeast Europe (SEE), and are unable to keep all their citizens warm this winter, the European Right to Energy coalition said, quoted by seenews.com. “Bulgaria far outstrips other countries for prevalence of four key indicators - damp and leaky homes, high energy costs for households, inability to keep homes warm against winter, and inability to keep ...
Romanian presidency of Council of EU gets support from member states for Natural Gas Directive
Thursday, February 21, 2019
The Permanent Representative Committee of the governments of Member States approved the provisional agreement reached by the Romanian presidency of the Council of the European Union with the European Parliament on the Natural Gas Directive, with the next step being the adoption of the Directive by the European Parliament, the Ministry of Energy announced."I am very pleased we've reached this agreement so quickly. This agreement eliminates a problem existing with ...
Electrica group planned investments worth 739 million lei for this year
Thursday, February 21, 2019
The Electrica group planned investments worth 739 million lei this year and 710 million of the sum is the investment plan of the distribution branches, informs the company in a press release sent on Wednesday to the BVB.‘During the meeting of 19 February 2019 the Board approved the consolidated sum for the Investment Plan (CAPEX) of the Electrica Group for 2019, worth 739 million ron. Out of this value, 710 million ron is the investment plan (CAPEX) of the ...
ROMGAZ supports completion of the Southern Corridor as a first step of national strategic intentions
Thursday, February 21, 2019
On the fifth annual meeting of the Southern Gas Corridor Advisory Council (SGC Advisory Council), taking place Wednesday in Azerbaijan, Romgaz restated its support for the development of the Southern Gas Corridor, while considering to continue the transmission infrastructure by finalising the Bulgarian-Romanian Interconnector and BRUA Project, in the context of developing the relationship with Azerbaijan and the potential partnership with ...
Extension of Iasi-Ungheni gas pipeline to Chisinau, to contribute to regional energy security
Thursday, February 21, 2019
The extension of the Iasi-Ungheni gas pipeline to Chisinau will contribute to regional energy security, Prime Minister Viorica Dancila said on Tuesday in the opening of the Government meeting."As I have said on several occasions, we are also concerned about the investments that contribute to the development of the entire region and, in this respect, the relationship with the Republic of Moldova is a special one. To this end, I welcome the start of the second phase ...
Transgaz starts building key-gas pipeline aiming to allow Chisinau to import gas from Romania
Thursday, February 21, 2019
The state-owned company Transgaz has officially started to build a key-gas pipeline that will allow Moldova to import Romanian gas for its Capital city. The second phase of the Iasi-Ungheni-Chisinau pipeline, 120 km-long, will connect Chisinau with Ungheni, allowing most part of Moldova and especially Chisinau to use Romanian gas and avoiding the current monopoly of the Russian giant Gazprom. “The project represents a ...