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Energy & Environment
ANRE postponed an increase in gas prices for consumers, although the suppliers paid more
Thursday, October 5, 2017
With a leadership near finishing its mandate, under the spectrum of a parliamentary investigation and violently criticized by some political leaders, the ANRE Regulatory Committee decided to postpone the setting of tariffs for natural gas for the 2017-2018 gas year. Last week, the deputy chairman of the National Regulatory Authority for Energy Emil Calota estimated that prices could increase by 6% for ...
Sefcovic in Romania for second Energy Union Tour
Thursday, September 28, 2017
European Commission Vice-President for Energy Union Maros Sefcovic visited Romania on September 27 for a two-day visit where he will discuss the country’s involvement in regional energy markets and regional cooperation as well as the progress it is making in meeting its 2020 climate and energy targets and in contributing to the goals of the Energy Union, neweurope.eu informs. He stressed that investing in regional gas ...
Hidroelectrica and Elektropriveda Srbije want to solve the amiably the conflict regarding the power unit in Portile de Fier
Thursday, September 28, 2017
The leadership of Hidroelectrica and that of the company Elektropriveda Srbije which manage together the unit Portile de Fier on the Danube want to solve amiably the conflict connected to the exploitation of the hydro power station not to get to the tribunal, according to a press release of the Hidroelectrica. ‘A delegation of the Hidroelectrica led by Bogdan Badea the chairman of the Board went to the hydropower station Portile de Fier I ...
Minister Petcu: 10 pct of Hidroelectrica is listed on BVB
Thursday, September 28, 2017
Energy minister Toma Petcu, said this Saturday in Alba Iulia that he had announced the Government last week regarding the listing of 10 percent of Hidroelectrica shares on the Bucharest Stock exchange (BVB), and the percentage was 15 percent as initially proposed. “We intend firstly to make the listing. We made an announcement to the Government a week ago regarding the intention of change,” said Petcu in a ...
Gas price for households to increase by 6 pc from October 1. Electricity goes up by 5 pc
Thursday, September 28, 2017
The gas price for households will increase on average by 6 percent in the fourth quarter of the year, Emil Calota, president of National Regulatory Authority for Energy (ANRE) said on Tuesday. According to him, the Regulatory Committee takes into account the elements occurred in the natural gas market and the impact of the costs imposed by the distribution and supply operators. In terms of exchange rate developments, the ...
MOL Group Seeks Startups Offering Innovative Solutions
Thursday, September 28, 2017
Selected companies could be given an opportunity to access parts of MOL’s retail infrastructure and extensive customer base to test their innovative solutions In line with its 2030 strategy, tapping external potential will support MOL in becoming the primary source of mobility solutions in the CEE region According to the statement sent to ACTMedia, MOL ...
The new trading and clearing services will bring Romania closer to European standards
Thursday, September 28, 2017
* Workshop about the upcoming services was held by KELER CCP and BRM KELER CCP and the Romanian Commodities Exchange (BRM, Bursa Romana de Marfuri) held a workshop for the Romanian market participants to present the details of the new trading mechanism and the related clearing services for the forthcoming market launch, a press release sent to ACTMedia informs. As it was announced earlier in September the Hungarian ...
Romania to have a national database of mineral resources
Thursday, September 28, 2017
Romania will have a national data base on mineral resources, with the approval of the Geological Research Programme by the Government, Anca Magdalena Chiser, Secretary of State in the Ministry of Economy, told a Monday's relevant ...
EU plan to cap fossil fuel subsidies will stymie renewables, power utilities warn
Thursday, September 28, 2017
A European Commission proposal aimed at capping fossil fuel subsidies across the EU could have perverse effects by promoting investments in new gas-fired power plants instead of renewable energies, according to a new study quoted by euractiv.com. As part of the EU’s plans for an internal electricity market, the European Commission has proposed putting a carbon cap on power plants, which would preclude any facilities emitting more than 550g ...
Scientists see ‘clear evidence’ of climate change behind 2017 heatwave
Thursday, September 28, 2017
The record heat observed across Europe this summer was made “at least ten times more likely” because of climate change, scientists have concluded in a new study released on Wednesday (27 September), euractiv.com reads. The World Weather Attribution (WWA), an international coalition of scientists assessing climate change influences on ...
Creditors unanimously approved the reorganization plan for Prospectiuni SA
Thursday, September 28, 2017
On Monday, Assembly of Creditors for Prospectiuni SA decided unanimously to approve the reorganization plan proposed by the judicial administrator Euro Insol. The plan was approved by all five categories of creditors: secured, wage claims, budgetary creditors, indispensable and chirographs. The reorganization plan provides for the full payment of debts totaling 93 million lei to creditors over a period of 3 years, according to the Definitive Debt ...
ANRE approved spot gas segment on the state OPCOM exchange
Thursday, September 28, 2017
The National Regulatory Authority for Energy (ANRE) has approved the operation of the spot gas market on the OPCOM stock exchange, shows a press release from the institution. “Today, September 20th, 2017, the meeting of the ANRE Regulatory Committee was held, which approved the procedures that allow the operation of the Day Ahead Market of Natural Gas (PZU-GN), managed by OPCOM. By using this new trading product, market participants have the opportunity to trade ...
Romgaz analyses the exploitation of gas in the Trident area in the Black Sea
Thursday, September 21, 2017
Romgaz and its partners in the oil block Trident analyse the possibility of digging new wells after the exploitations made until now have shown there is potential for new discoveries of gas in the area, stated on Friday Vlad Pavlovschi, manager of business development in Romgaz during the conference on energy issues. He spoke about the Romgaz history in this association, after July 2010 Lukoil Overseas together with the Vanco International company ...
Excise duties go up by 0.16 lei per liter beginning last Friday
Thursday, September 21, 2017
Excise duties go up by 0.16 lei per liter beginning last Friday for all three fuel categories: leaded, unleaded petrol and diesel. The second excise rise phase is due on October 1. Finance Minister Ionut Misa had announced the move in late August, stating that the excise will go up in two phases - on September 15 and October 1, respectively - to prevent a consumption shock that could trigger price hikes. "There will be a phased ...
Lukoil Romania involved in a tax evasion case
Thursday, September 21, 2017
Prosecutors with the Bacau Local Office of the Directorate for Investigating Organised Crime and Terrorism (DIICOT) have conducted searches in Bucharest City and six Romanian counties in a tax evasion case with a damage in excess of 9 million lei in which the legal representative of SC Lukoil Romania SRL is also involved. "It has been noted that in 2009-2010, defendants Matei Eugen, Gherghel Amalia, Ceban Sergiu, Tirla Calin, Izvernari Danu? Nelu, Negru ...
Vast Resources reaches agreement for new mining exploitation in Romania
Thursday, September 21, 2017
British group Vast Resources and the state-owned firm Baita, which holds the license for the Baita Plai mine in Western Romania, have reached an agreement on the mine’s exploitation, romania-insider.com informs. The association process will be completed this month. As part of the agreement, the British group needs to pay the Romanian company some USD 1.6 million. Vast Resources ...
Romania's OMV Petrom to invest 70 mln euro in new offshore drilling campaign
Thursday, September 21, 2017
Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Monday it plans to invest 70 million euro ($83.5 million) into a new drilling campaign in the shallow waters of Istria block in the Black Sea, seenews.com informs. The campaign includes the drilling of two wells by the end of this year and a further two by mid-2018, OMV Petrom said in a press release. The wells are planned to be drilled to depths of up to 2,000 ...
Romania imported from January to July 2017 as many as 4.168 million toe
Thursday, September 21, 2017
Romania imported from January to July 2017 as many as 4.168 million tonnes oil equivalent (toe), by 118,500 toe (2.8 pct) smaller than in the same period of 2016, according to data aggregated by the National Statistics Institute ...
Prospectiuni to sign contracts worth 250 mln lei in 2017
Thursday, September 21, 2017
Insolvent Romanian geophysical services provider Prospectiuni will sign contracts worth 250 million lei ($65 million/54 million euro) in 2017, its court-appointed administrator Euro Insol said on Tuesday quoted by seenews.com. In the first eight months of the year, Prospectiuni concluded contracts with an aggregate value of over 120 million lei for acquisition of geophysical 2D and 3D geophysical data and logging services with natural gas producer ...
Hidroelectrica invests 24 mln lei (5 mln euro) in upgrading Calimanesti plant
Thursday, September 21, 2017
Romanian hydro power producer Hidroelectrica said on Tuesday it is investing 23.69 million lei ($6 million/ 5 million euro) in the modernization of its plant in Calimanesti, central Romania, seenews.com informs. The work was awarded through a tender opened by S.S.H. Hidroserv Bucharest and will be financed exclusively from Hidroelectrica's development funds. The designated equipment supplier is UCM Resita, Hidroelectrica said in a press ...