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Energy & Environment
KMG International issues its 2018 Sustainability Report
Thursday, August 8, 2019
KMG International publishes its 2018 Sustainability Report – Inspired by nature, developed according to latest international standards – GRI Sustainability Reporting Standards, marking the fifth consecutive year of non-financial reporting for the Group. The report represents an overview of the Group’s economic, social, environmental and marketplace evolution in 2018, as part of the company’s commitment to transparency and continuous ...
MOL GROUP IS WELL ON TRACK TO MEET OR BEAT ITS FULL-YEAR GUIDANCE
Thursday, August 8, 2019
MOL Group delivered CCS EBITDA of USD 1,15bn in H1, exactly half of the full-year 2019 guidance. Upstream EBITDA slightly decreased but the segment is still the largest free cash flow generator of the Group. Downstream Clean CCS EBITDA was USD 403mn in H1 2019, lower than a year ago due to weaker refinery margins Consumer ...
Building two additional reactors at Cernavoda Nuclear Plant could bring equipment orders worth EUR 3 bn, say industry leaders
Thursday, August 8, 2019
The construction of reactors 3 and 4 of the Cernavoda Nuclear Plant could bring about EUR 3 billion into the local equipment industry, which would represent 40 percent of the total cost projection of the two units, according to Teodor Chirica, the former general manager of Nuclearelectrica and the president of the European nuclear industry association, FORATOM, cited ...
ExxonMobil to exit the Neptun Deep offshore gas project in Romania
Thursday, August 8, 2019
U.S. oil group ExxonMobil has sent a letter informing interested parties about its intention to exit the Neptun Deep offshore gas project in Romania. ExxonMobil could either sell its 50% share of the rights in the Black Sea perimeter or the whole company that has the extraction rights in this perimeter, in which OMV Petrom holds the remaining 50%, could go on sale, according to the confidential letter leaked ...
E.ON inaugurates three other electric charging stations
Thursday, August 8, 2019
E.ON Energia Romania launched three new fast charging stations for electric vehicles last month in Bac?u, as well as at two at Mol petrol stations in Sovata and Gheorgheni, the number of units installed by the company thus reaching eleven. The initiative is part of the NEXT-E project, co-financed by European funds, through the Connecting Europe Facility (CEF) program, through which E.ON Energie Romania is set to install a total of 19 units for fast charging of vehicles, other 21 to be ...
PATRES: AFM program for subsidized photovoltaic panels, discriminatory
Thursday, August 8, 2019
The last-minute changes to the Program Financing Guide on the installation of photovoltaic panels for electricity generation affect the potential beneficiaries, who are the active and productive blanket of the population and who should be the target audience of the AFM program. Thus, they risk being excluded from financing, warned the employers association of small renewable energy producers PATRES. “We believe that the application of this profoundly discriminatory change will ...
The hydro energy production of Romania increased by 21.2% last year
Thursday, August 1, 2019
The production of hydro energy of Romania increased by 21.2% last year, as compared to 2017, getting to 4 million tons equivalent petrol (tep) according to a report made by the British company BP at world level.The biggest producer of hydro energy of the EU was Finland with 14.5 tep, more by 30.5% against the previous year. There follows Sweden with 14 tep (dropping by 4.7%) and Italy with 10.4 tep ( up by 33%).At world level, the production of hydro energy ...
Transgaz and the Japanese corporation Itochu signed the agreement memorandum for collaboration in big projects in the domain of gas
Thursday, August 1, 2019
Transgaz and the Itochu corporation of Japan signed an agreement memorandum for collaboration in big projects in the domain of natural gas – the GNL terminal in Alexandroupolis, the Whitestream pipeline, the terminal GNL Krk as well as national projects in the domain of energy, says Transgaz. The memorandum, valid for two years, Romgaz to joint as well, was signed with the intention of Transgaz to extend its activity in the sector of ...
Energy Ministry: Negotiations for units 3 and 4 will be completed until the end of the year
Thursday, August 1, 2019
Negotiations for the construction of Units 3 and 4 from Cernavoda will be completed this year. If talks do not yield positive results, Nuclearelectrica will build the reactors alone, said energy minister Anton Anton on Monday at a press conference. Nuclearelectrica is negotiating the erection of Units 3 and 4 from Cernavoda with China General Nuclear Power Corporation with which they signed the Investors' Accord in ...
Hidroelectrica organizes for the third time tender to upgrade Vidraru installations
Thursday, August 1, 2019
Five participants entered the race for Vidraru, Hidroelectrica announced on Tuesday. The 82.15 million euro contract will be auctioned for the third time. The participants are : Voith Hydro Gmbh & Co KGAustria, Romelectro Litostroj Engineering, GE Hydri=o France SAS – Elecnor, Grid Solutions Romania, Gulsan Insaat Sanayi Turizm Nakliyat Ve Ticaret Association, Zhefu Holding Group. The evaluation commission will analyse and ...
Romanian minister knows nothing about Exxon’s plans to pull out of Black Sea offshore project
Thursday, August 1, 2019
ExxonMobil hasn’t informed the Energy Ministry of any intention to withdraw from the Black Sea natural gas exploration project or bring another partner into the project, energy minister Anton Anton said on July 29, in a press conference. “Exxon’s [Romania Country Manager Richard] Tusker did not contact us. Exxon sent us documentation to approve them doing geo-studies and drilling for the ...
OMV Petrom planned for this year drilling of approximately 100 wells
Thursday, August 1, 2019
OMV Petrom (stock exchange symbol SNP), the biggest player on the electricity market of Romania planned for this year to drill approximately 100 new wells and estimates that the average price of oil Brent will be 65 dollars/barrel starting from 71dollars/barrel in 2018, shows the quarterly report sent on Wednesday to the BVB. The production of hydrocarbs at the level of the group droppedby 5.5% at 27,56 million bep due to the lower production both in ...
OMV Petrom anticipates roughly 840 ml euro worth of investments this year
Thursday, August 1, 2019
OMV Petrom expects its capital expenditures this year to be around 4 billion lei (roughly 840 million euro), with about 75 percent of this amount directed to the Upstream exploration and production sector; the company reported investments worth 1.7 billion lei in H1 2019, according to the financial results released on Wednesday by the Bucharest Stock Exchange.Last year, the company made investments worth 4.29 billion lei, up 44 percent compared to ...
Important investment at Vega Ploie?ti Refinery
Thursday, August 1, 2019
Rompetrol Rafinare, a member company of KMG International, will upgrade, in the near future, the central heating system from Vega refinery in Ploiesti, in order to increase energy efficiency and continue to reduce the impact of its activities on the environment. The investment effort for this project amounts to more than 1.9 million dollars and includes, among other things, the installation of a new steam-boiler, manufactured in line with the highest ...
Forecast: Romania will turn into net electricity importer soon
Thursday, August 1, 2019
The prices on Romania’s wholesale electricity market will rise above those in Hungary over the next decade, reversing a trend that has existed since 2014, when the spot markets of Romania, Hungary, Slovakia and the Czech Republic were coupled, according to a forecast by global consulting company ICIS, ...
ENEL ONLY ITALIAN COMPANY TO TAKE UP U.N. ZERO EMISSIONS COMMITMENT BY 2050 ON THE ROAD TO CLIMATE ACTION SUMMIT
Thursday, August 1, 2019
The company committed to pursue the goal of limiting the maximum global temperature increase to 1.5 degrees from pre-industrial levels and achieving zero emissions by 2050 The Group has joined the global initiative for a just transition and decent work Enel is the only Italian company to have taken up the new commitment to achieve zero climate-changing ...
The hydro energy production of Romania increased by 21.2% last year
Thursday, July 25, 2019
The production of hydro energy of Romania increased by 21.2% last year, as compared to 2017, getting to 4 million tons equivalent petrol (tep) according to a report made by the British company BP at world level. The biggest producer of hydro energy of the EU was Finland with 14.5 tep, more by 30.5% against the previous year. There follows Sweden with 14 tep (dropping by 4.7% ) and Italy with 10.4 tep ( up by 33%). At world ...
SWAZM has joined hands with Restart Energy to create the world’s first decentralized peer-to-peer energy marketplace - the RED Platform
Thursday, July 25, 2019
SWAZM has partnered with Restart Energy to create the RED Platform - a peer-to-peer system which utilizes cutting-edge blockchain and IoT technology in order to empower consumers to acquire and trade renewable energy cheaper, directly from producers. Restart Energy is moving towards democratising the global energy market with the RED Platform. RED will enable consumers to become prosumers powered by solar energy?, ?both increasing energy independence ...
ANRM launches auction for 28 oil & gas perimeters
Thursday, July 25, 2019
The Romanian mineral resources regulator (ANRM) has launched an auction for 28 oil & gas perimeters, a first for the last decade. Among the new perimeters, 22 are onshore and 6 offshore in the Black Sea. The decision was published on Wednesday in the Official Gazette. The companies interested in these projects (exploration and exploitation) should submit their offers in 120 days (4 months) following the date of the release ...
Saipem wins $160 mln offshore drilling contracts in Romania, Abu Dhabi
Thursday, July 25, 2019
Italian oil and gas industry contractor Saipem said it has been awarded new contracts in offshore drilling in Romania and Abu Dhabi worth over $160 million (142.6 million euro). According to one contract, the company will drill a well in Romania’s Black Sea waters, expectedly in the fourth quarter of 2019, Saipem said in a press release on Monday. Works will be executed by the semi-submersible rig Scarabeo 9, a drilling ...