RSS
Energy & Environment
The minister for economy: until now there have been invested 30% of the parts which could have uranium sources
Thursday, November 30, 2017
Radioactiv Mineral Magurele, the only company for geological research of the state, estimates that the potential for uranium resources where so long has been invested in, reached almost 30% announced on Friday the ministry of economy following the meeting with the representatives of the ministry and the leadership of the society. The Radioactiv company administers the parts of geological exploration of rare materials and radioactive ones ...
Turkey, Azerbaijan, Romania play key role in energy supplies: Georgian official
Thursday, November 30, 2017
Georgian Deputy Prime Minister and Foreign Minister Mikheil Janelidze, speaking at the 28th meeting of the Energy Charter Conference in Ashgabat, supported the efforts of Europe to diversify energy sources, noting the role of Turkey, Azerbaijan and Romania in ensuring energy supplies in the region, azernews.az reads. “Turkey, Azerbaijan and Romania play an important role in ensuring energy supplies in the region, and Georgia is ready to fulfill ...
Southern Gas Corridor is a living example of multilateral cooperation in the EU’s East
Thursday, November 30, 2017
The multi-billion euro Southern Gas Corridor should not be seen as a mere energy security project; it is a robust interconnectivity initiative which will bring closer other partners in Central Asia seeking access to the EU market, writes the Embassy of Azerbaijan to the EU. This text was sent to EURACTIV by the Emabssy of Azerbaijan in Brussels following the publication ...
EBRD acquires stake in Romania’s Black Sea Oil & Gas
Thursday, November 30, 2017
The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has acquired an equity stake in Romania’s Black Sea Oil & Gas (BSOG), seenews.com reads. In August, the EBRD said it is considering a $23.4 million (19.9 million euro) equity investment in BSOG. “With this landmark equity transaction, our intention is to support the development of this private upstream oil and gas company in Romania," Matteo Patrone, EBRD ...
Enel to invest 565 million euro in infrastructure and networks în Romania
Thursday, November 30, 2017
Enel will invest 565 million euro in infrastructure and networks on the Romanian market, 2018 through 2020, company representatives communicated on Tuesday in a press conference. Of this amount, 329 million euro are meant for development investments. Moreover, Enel will invest a further 400 million euro for the digitalisation of networks and processes. The company has also made it its mission to lower the average span of unplanned ...
Energy prices in 2017 : Household energy prices in the EU down compared with 2016
Thursday, November 30, 2017
In the European Union (EU), household electricity prices slightly decreased (-0.5%) on average between the first half of 2016 and the first half of 2017 to stand at €20.4 per 100 kWh. Across the EU Member States, household electricity prices in the first half of 2017 ranged from below €10 per 100 kWh in Bulgaria to more than €30 per 100 kWh in Denmark and Germany. Household gas prices fell by 6.3% on average in the EU between the first ...
Raffles Energy SRL announces New Gas Discovery in EIV-1 Suceava Concession, Romania
Thursday, November 30, 2017
Raffles Energy SRL, a wholly owned subsidiary of the UK-based Raffles Energy Group, has announced that a new gas discovery has been made recently in the Exploration Area of EIV-1 Suceava Concession (Raffles 50% and operator, PXOG Massey Limited 50%) in North Eastern Romania, energynomics.ro reads. The Bainet-1 well, targeting an exploration prospect analogue to the Bilca gas field, was drilled to a total depth of ca 600m. The conventional natural gas ...
ANRE published the draft regulation for the competitive designation of SoLR
Thursday, November 30, 2017
Given that as of 1 January 2018 liberalization of the electricity market will be completed, also for households, and most of these have not yet opted for a supplier on the competitive market, the role of suppliers of last resort will substantially increase, from next year, energynomics.ro informs. In addition, the updates introduced by the competitive ...
Rise of cheap renewables disrupts EU energy plans for 2030
Thursday, November 23, 2017
The rapid fall in costs of wind and solar power, combined with flexible demand technology, could replace “more than half” of coal and gas-powered electricity in Europe by 2030, according to new research published on Tuesday (21 November), eurativ.com informs. A report from consultants ...
Good results for the listed energy companies (Mihai Caruntu analysis)
Thursday, November 23, 2017
Some companies will record profits over estimates, while others are still dependent on strategic decisions to increase, Mihai Caruntu, head of BCR’s Capital Markets Division, told energynomics.ro. However, the estimated financial results for 2017 are sufficiently visible after the six / nine months and generally put the Bucharest Stock Exchange (BSE) in an attractive spot. A plus should go to OMV Petrom and ...
Enel to invest 565 million euro in infrastructure and networks în Romania
Thursday, November 23, 2017
Enel will invest 565 million euro in infrastructure and networks on the Romanian market, 2018 through 2020, company representatives communicated on Tuesday in a press conference. Of this amount, 329 million euro are meant for development investments. Moreover, Enel will invest a further 400 million euro for the digitalisation of networks and processes. The company has also made it its mission to lower the average span of unplanned ...
Enel and Traian Vuia International Airport in Timisoara launch the first EV charging station in a Romanian airport
Thursday, November 23, 2017
Enel Energie and the Traian Vuia Airport in Timisoara inaugurated today the first electric vehicle charging station in an airport in Romania, in order to encourage electric mobility and a lower carbon footprint of the transport industr, the company informs in a statement sent to ACTMedia. “Enel Group launched this year a new business division called ...
S&P upgrades MOL‘s long-term credit rating to BBB- investment grade with stable outlook
Thursday, November 23, 2017
S&P rating confirms MOL’s resilient integrated business model and strong financial profile. Following previous steps by Fitch and Moody’s, MOL has now become a full investment grade issuer. MOL Plc. has been upgraded to BBB- investment grade long-term credit and issuer rating with stable outlook by Standard and Poor’s ...
Minister Petcu: The Rompetrol memorandum will not be extended, debt payment is demanded
Thursday, November 23, 2017
The Ministry of Energy will not extend the memorandum with KazMunaiGaz, the owner of Rompetrol, approved by Government decision in 2014, and the company will have to pay its debt to the state in order to prove its good faith, Toma Petcu said on Thursday, during the hearings in the parliamentary commission of inquiry on the activity of ANRE, energynomics.ro informs. “When I took over the mandate (January 2017 – e.n.), the MoU was to expire in the third month. I ...
Reuters: Romania closes one case against Russia's Lukoil, related trial still on
Thursday, November 23, 2017
Romanian prosecutors have decided to close a criminal case against Russia’s Petrotel Lukoil refinery in Romania over allegations of money laundering, although the trial of a larger related case continues, they said on Friday, Reuters correspondent informs. A spokeswoman for the prosecutors did not say why the case had been closed. In 2015, prosecutors attached to the court of appeals of the central Romanian city of ...
EU Parliament set for war over energy efficiency
Thursday, November 23, 2017
Lawmakers in the European Parliament have finalised the text of a crucial energy efficiency law ahead of an important vote on 28 November, euractiv.com informs. But political infighting both between and within the main political groups means the result is far from certain. MEPs last week tabled their final compromise amendments for an upcoming vote on the Energy Efficiency Directive. The result of the vote will form the basis of the Parliament’s ...
Romania's Electrica 9-mo profit plummets on higher power purchase prices
Thursday, November 16, 2017
Romanian power supplier and distributor Electrica [BSE:EL] said on Wednesday its consolidated net profit fell to 95 million lei ($24 million/21 million euro) in the first nine months of 2017 from 466 million lei in the year-ago period mainly due to higher prices at which it buys electricit, seenews.com informs. Electrica's January-September operating revenue edged down 0.5% on the year to 4.17 billion lei, the company said in an ...
OMV Petrom to sell 60 oilfields
Thursday, November 16, 2017
OMV Petrom, the largest oil and gas producer in Southeastern Europe, continues to sell several assets in its portfolio this year, so it will transfer 50-60 less profitable oilfields and will sell three motels, Mariana Gheorghe, CEO OMV Petrom said in an interview ...
KazMunayGas refineries in Romania triple net profit
Thursday, November 16, 2017
Oil and gas company Rompetrol Rafinare, the Romanian subsidiary owned by the Kazakh group KazMunayGas that manages the Petromidia refinery, recorded a consolidated net profit of USD 56 million in the first nine months of this year, almost triple compared to the same period last year, romania-insider.com ...
Romgaz ups net profit by 66%
Thursday, November 16, 2017
Romanian state-owned gas producer Romgaz recorded a net profit of RON 1.18 billion (EUR 253.8 million) in the first nine months of this year, up 66% over the same period last year romania-insider.com ...