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Energy & Environment
Building industry demands stronger leadership on energy efficiency
Thursday, September 29, 2016
Leading voices from Europe’s building industry have called on the Commission to do more to improve the energy efficiency of Europe’s building stock, saying this would benefit the economy and the climate, euractiv.com reads. A group of 42 CEOs from some of Europe’s major construction ...
Transgaz signs Memorandum with DESFA
Thursday, September 29, 2016
Transgaz SA, the Romanian natural gas transport operator signed on Tuesday a Memorandum with DESFA, the operator of the National Natural Gas System in Greece and of the National Natural Gas Transport System and the GNL terminal on Revithoussa island, the company announced in a press release. The signing of the document is meant to jointly approach existing and future projects on gas transport, according to EU laws. Representatives of the two companies discussed the need to ...
Costin Borc (minister of Economy): Binding offer for Oltchim by year-end
Thursday, September 29, 2016
Economy minister Costin Borc reiterates the possibility of obtaining a binding offer for Oltchim Ramnicu Valcea, without specifying whether there are already negotiations or any group interested in taking over the insolvent chemical plant, energynomics.ro informs. “By the year-end I think we’ll have a binding offer from an investor, foreign or Romanian. The climate is very good now to find an investor to continue to develop the viable part of Oltchim”, said the ...
Investments in electricity transport and distribution grids administered by CEZ Distributie
Thursday, September 22, 2016
Over 1.4million users in Arges, Dolj, Gorj, Mehedinti, Olt, Teleorman and Valcea will benefit in 2016 from parametres of improved quality of the delivered electricity. The CEZ Distributie spokesperson Roxana Margineanu stated that this is possible by allocating the sums of 166.37 million lei with investments and 166.70 million lei for operation in the seven counties where they operate. ‘At the same time, these investments ...
The government wants to offer state aid of 62 million lei to save the National Company of Uranium
Thursday, September 22, 2016
Romania notified the European Commission for the approval of an individual state aid of 62 million lei to save the National Company of Uranium (CNU) as this company is in the impossibility to continue its activity, according to a draft of emergency ordnance initiated by the ministry of energy. ‘The ministry of energy is authorised to offer aid under the format of loan in two parts within the limit of 62,000 lei for a period of 6 months to the ...
MOL Group Wins Petroleum Economist Award 2016 for Best Downstream Company of the Year
Thursday, September 22, 2016
* MOL Group Downstream is recognized as the best of the energy industry * Rewarded for clear business strategy, employee development and innovative approach * n 2015, Downstream delivered its historically strongest ...
Romania's Romgaz signs 76.5 mln lei (17.1 mln euro) contract with Transgaz
Thursday, September 22, 2016
Romanian natural gas producer Romgaz [BSE:SNG] said on Tuesday it has signed a 76.5 mln lei ($19.2 million/17.1 mln euro) contract with Romanian gas transmission company Transgaz [BSE:TGN] for the supply of gas for technological consumption, seenews.com reports. The payment was made for the September 16, 2016-October 1, 2017 delivery period, Romgaz said in a statement filed with the Bucharest Stock Exchange, BVB. In the first ...
Romania's OMV Petrom to pay dividend of at least 30% of 2016 net profit
Thursday, September 22, 2016
Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Tuesday it expects to pay a dividend of at least 30% of its 2016 net profit, seenews.com informs. "OMV Petrom currently targets, subject to adverse developments in the external market, a proposed dividend from the 2016 net earnings of a minimum of 30% in the case it is fully covered by the company's free cash flows before dividends," executive Board member Lacramioara Diaconu-Pintea said in a ...
Bulgaria-Romania Gas Link 'Hopefully Ready' by End of Year
Thursday, September 22, 2016
Bulgarian Energy Minister Temenuzhka Petkova has voiced her hope that the construction of an interconnector with Romania will be complete by the end of 2016, becoming the country's first gas link with a neighboring state, novinite.com reports. At an energy conference dedicated to energy security in Southeast Europe, Petkova has underlined that the government must work hard ...
Minister Grigorescu: development of the Black Sea energy resources represents a priority for Romania
Thursday, September 22, 2016
The development of the Black Sea energy resources represents a priority for Romania, being the key to the energetic security of the country in the next decade, Minister of Energy Victor Grigorescu considers. According to a release of the relevant Ministry, Victor Grigorescu will pay a working visit to the Central Oil Rig of OMV Petrom, one of the seven production oil rigs operated by the company in the shallow waters of the Black Sea. The visit takes place in ...
Reuters: Gazprom wants more than 25 percent of OMV North Sea assets
Thursday, September 22, 2016
Gazprom wants more than 25 percent of OMV's Norwegian North Sea holding company but is being prevented from taking a larger stake by Norway, the Russian company's deputy told Reuters on last Thursday. Under an asset swap plan, Austrian energy company OMV is due to get a 24.9 percent stake in a part of one of Gazprom's Siberian fields while the Russian company will in turn get a slice of OMV's North Sea assets in ...
Dan Catalin Stancu, the new elected General Director of Electrica
Thursday, September 22, 2016
The Electrica S.A. Board of Directors has appointed Dan Catalin Stancu in the position of General Manager. He will assume this responsibility as of October 24th, 2016, energynomics.ro informs. Dan Catalin Stancu succeedes as General Manager to Ms. Iuliana Andronache – CFO, who ensured the interim, since March 2016. “The selection of the ...
Romania's proven natural gas reserves will be depleted in the next 9 years, the oil reserves -in 12 years
Thursday, September 15, 2016
Romania's proven natural gas reserves will be depleted in the next 9 years, while the oil reserves will last for another 12 years, unless investment is made in prospecting for new resources, Chairman of the Romanian Petroleum Exploration and Production Companies Association (ROPEPCA) Artur Stratan said at a news conference on ...
PRIMARY ENERGY RESOURCES DECREASED BY 1.7% DURING 1.I. - 31.VII.2016
Thursday, September 15, 2016
- During 1.I. – 31.VII.2016, primary energy resources decreased by 1.7%, while those of electricity increased, as compared to the same period of previous year, by 3.6%. Romania's final electric energy consumption hit 32.1 TWh, up by 9.2pct January through July 2016, as compared to the similar period of 2015, says a press release by the National Institute of Statistics (INS) sent on Monday.The highest increase, by 11.8pct was ...
Bulgaria to enhance cooperation on gas projects with Greece, Romania, Hungary
Thursday, September 15, 2016
Bulgaria signed joint statements with the governments and gas transmission operators (TSOs) of Romania, Greece and Hungary on infrastructure projects along the Vertical Gas Corridor, the European Commission said on Friday, seenews.com reports. Furthermore, a memorandum of understanding (MoU) was signed by the TSOs from Ukraine, Romania, Bulgaria and Greece on reverse flows on the Trans-Balkan pipeline, the EU executive body said in a ...
Transgaz signs to access 179 million euros for BRUA works
Thursday, September 15, 2016
Romanian natural gas transmission operator SNTGN Transgaz SA initialed on Friday, the agreement on accessing the grant worth 179 million euros, part of the Connecting Europe Facility, funding the works Romanian territory on the Bulgaria-Romania-Hungary-Austrian Gas Pipeline (BRUA), reads an Energy Ministry release sent on ...
Commission set to propose deeper energy cuts
Thursday, September 15, 2016
EU regulators look set to propose a binding target to cut energy use by 30% by 2030, a more ambitious goal than previously discussed, EurActiv.com reads. However, the goal has already been criticised for not being ambitious enough. The European Commission is expected to publish a draft law next month that is part of a set of proposals to implement 2030 goals on cutting emissions, increasing renewable energy use and preventing energy ...
Solar, wind and hydro, an over 10% increase in the first seven months
Thursday, September 15, 2016
The consumption increased with over nine percent, and the energy-queens were the solar (almost 15% increase), wind and hydro, which registered record-increases during the period January-July 2016, according to the National Statistics Institute (INS) quoted by energynomics.ro. Thus, production from the hydropower plants was 12.575,1 million KWh increasing with 1.432,7 million kWh (+ 12.9%), in counterweight to that of the nuclear power plants, which was ...
Bulgargaz EAD, Transenergo and WIIE Romania – the first winners of the auctions for Bulgarian transit
Thursday, September 15, 2016
The companies Bulgargaz EAD, Transenergo and WIIE Romania SRL have won the capacity auction for the natural gas transit pipeline held by Transgaz for the allocation of capacities on the transit to Bulgaria and in two localities from Romania, energynomics.ro. reports. The three companies, one from Bulgaria and two from Romania, have won the tenders held on September 5th by Transgaz for the allocation of capacities at the Negru Vod? 1 – Bulgaria ...
Energy Ministry to appoint new supervisory boards for the Oltenia Energy Complex, Oil Terminal and SAPE
Thursday, September 8, 2016
The Energy Ministry will appoint this week new supervisory boards for the Oltenia Energy Complex, Oil Terminal and the Energy Shareholdings Administration Company (SAPE), Energy Minister Victor Grigorescu said Wednesday. "The lists are complete. It is a matter of procedure. We will appoint the supervisory bodies this week for SAPE, Oil Terminal and the Oltenia Complex," Grigorescu said at the end of an energy debate held by the Chamber of Deputies' Committee on Industry and ...