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Energy & Environment

PM Orban says he is not aware of Exxon’s plans with its offshore perimeter

Thursday, November 12, 2020

The US oil group ExxonMobile hasn't informed the Romanian authorities about its intentions with the 50% stake it holds in the Neptun Deep offshore perimeter, prime minister Ludovic Orban said at B1 TV on November 8. "We are not sure, we will see what their decision will be. As far as we are concerned, [the natural gas transport system operator] Transgaz is contracting works for the ...

Lukoil wants to sell its stake in Romanian Black Sea perimeter

Thursday, November 12, 2020

Lukoil wants to sell its 87.8% stake in the EX-3-Trident perimeter in Romania's Black Sea offshore area, according to the CEO of Romanian state-owned gas producer Romgaz - which holds a minority 12.2% stake in the project.   "We received this letter from Lukoil. We will have a discussion with them. We don't know their reasons yet," Adrian Volintiru, general manager of Romgaz, told ...

Energy Ministry, reaction to CEZ Romania sale: New incentive will be well received by market

Thursday, November 12, 2020

The Romanian companies' offer to take over CEZ Romania was substantiated on commercial bases and a new incentive will be welcomed in the market, said Dan Dragos Dragan, the secretary of state in the Economy Ministry.   He participated in the Natural Gas Forum, organized online by Financial Intelligence. CEZ Group approved the sale of its stock in Romania to funds ...

Energy Ministry wants gas exploitation in Neptune Deep offshore reserve to start before 2025

Thursday, November 12, 2020

The Romanian government wants to extract gas from Neptune Deep  offshore reserve before 2025 and is preparing a suggestion for the amendment of the offshore law, said Dan Dragos Dragan on last Thursday.   He participated in the Natural Gas Forum, organized online by Financial Intelligence. The official reminded that the ministry will come with a suggestion to ...

DAM Romania will join those in Germany and Austria next spring

Thursday, November 12, 2020

The day-ahead markets (DAM, or spot) in Romania, Hungary, Slovakia, and Czechia will be coupled starting next year with those in Germany, Austria, and Poland, according to Romania's power grid operator Transelectrica.   Romania's DAM market is already coupled with those in Hungary, Slovakia, and Czechia (4M MC mechanism). The plan is to couple these markets with the spot ones in Germany, Austria, and ...

Motor fuel prices in Romania, 25pct lower than European average

Thursday, November 12, 2020

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Motor fuel prices in Romania are 25% lower than the European average, while automotive gas oil prices are 18% lower, according to the latest data provided by the Oil Bulletin of the European Commission valid for November 2.Thus, the price for one litre of Euro super 95 motor fuel in Romania is 0.923 euros, while the average of the 27 EU member states is 1.247 euros per litre.Lower prices than in Romania are in Bulgaria, at 0.899 euros per litre. The ...

Analysis of the policy of increasing the degree of connectivity to natural gas resources for the residential sector

Thursday, November 12, 2020

Transforming Europe into the first climate-neutral continent by 2050 is the biggest challenge of our time. The “Green Deal” recently presented by the European Commission is the most ambitious package of measures that will make the transition to a green and sustainable economy and calls on Member States to rethink energy system strategies quickly.   The status of ...

State aid: Commission approves €150 million Romanian scheme to support investments in district heating systems based on renewable energy sources

Thursday, November 12, 2020

The European Commission has approved, under EU State Aid rules, a Romanian scheme to support the construction and/or upgrade of district heating systems, based exclusively on Renewable Energy Sources (“RES”) in Romania.   Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This €150 ...

Europe ready to restart transatlantic climate dialogue after Trump ‘parenthesis’

Thursday, November 12, 2020

The European Commission and senior EU lawmakers said they stood ready to intensify dialogue with the US on climate change, listing car CO2 limits and green finance among areas where “real transatlantic cooperation” is again possible after the four-year “Trump parenthesis”, euractiv.com reads.   Commission president Ursula von der Leyen issued a statement on Saturday evening to ...

EC: the gas production of the EU, 19% lower than in Q1; Romania extracted 10% less

Thursday, November 5, 2020

The gas production of the European Union dropped by 19% in Q1 of this year, and the extracted quantity in Romania, the second large producer, diminished by 10% according to a report of the General Direction for Energy in the European Commission.Thus, the total production of the EU got to 30.5 billion cubic metres, against 37.7 billion cubic metres at half year last year.The Netherlands, the biggest gas producer in the community space, extracted 14 ...

OMV Petrom falls into red in Q3 on low oil and gas prices

Thursday, November 5, 2020

OMV Petrom (SNP), the largest energy company in Romania, recorded a net loss of RON 41 million (EUR 8.5 mln) in the third quarter (Q3) of 2020 as the sales declined by one-quarter year-on-year, according to the quarterly results released on October 28.   In Q2, the group's net profit had narrowed four-fold to RON 214 mln (EUR 44 mln) yet remaining in the positive area, as its sales compressed by one ...

Romanian state planning to acquire through Romgaz 50 pct stake in Neptun Deep offshore gas project

Thursday, November 5, 2020

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The Romanian state intends to acquire through the National Natural Gas Corporation Romgaz the 50 percent stake in the Neptun Deep gas block currently held by ExxonMobil, Minister of Economy, Energy and Business Environment Virgil Popescu said on Friday.In an earlier online broadcast by media platform EM360 Popescu had said that Poland's state-owned oil company PGNiG had given up plans to take over a part of the Neptun Deep deposit, ...

Alive Capital to raise EUR 2 mln with bond issue

Thursday, November 5, 2020

Alive Capital, a Romanian company providing integrated services in the energy sector, also operating as a supplier and trader on the energy market, will issue RON 10 million (EUR 2 mln) of bonds on the Bucharest Stock Exchange ...

MFP analyses projects worth more than 1 billion lei to develop smart gas distribution networks

Thursday, November 5, 2020

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A number of 24 projects meant for the development of intelligent natural gas distribution networks, worth 1.16 billion lei, have been submitted and are currently being analyzed for funding under the Operational Programme for Large Infrastructure (POIM), the Ministry of European Funds (MFE) announced on Monday evening.According to a press release, MFE is financing, through POIM, projects for the development of smart gas distribution networks. So far, 24 projects ...

Final energy consumption increases by 1.1 pct in 2019, over previous year

Thursday, November 5, 2020

The final energy consumption in the year 2019 has increased by 264,000 tons oil equivalent (toe), an increase of 1.1 pct over 2018, according to data published on Monday by the National Institute for Statistics (INS).The final energy consumption in industry (including construction) recorded an increase of 0.6 pct over the previous year, mainly due to the increase in consumption in the industry of chemical and pharmaceutical products, rubber and plastic products ...

Participation of DESFA in the Alexandroupolis LNG Terminal

Thursday, November 5, 2020

The Greek company Gastrade SA announces the signing of the agreement for the acquisition of 20% of its share capital by DESFA S.A., owner and operator of the National Natural Gas Transmission System of Greece. The agreement was signed in Athens by the Founding Shareholder & Chairman of the Board of Directors of Gastrade, Mrs. Elmina Kopelouzou and the CEO of DESFA, Mr. Nicola Battilana in the presence of the Minister of ...

BRM launches derivative contracts on natural gas

Thursday, November 5, 2020

Romanian Commodities Exchange (BRM) announces the launch for the first time in Romania, on November 16, 2020, of derivative contracts having as supporting asset natural gas.   The announced event continues the effort of recent years of the BRM and Romanian producers and suppliers to build together a strong, modern and efficient natural gas market, able to finally offer the country the position and status ...

Global investor group urges United States to rejoin Paris climate accord

Thursday, November 5, 2020

A group representing European and US investors with a collective $30 trillion in assets urged the United States to quickly rejoin a global accord to tackle climate change on Wednesday, as a decision by President Donald Trump to leave the pact came into effect, ...

France will be involved, together with the USA and Canada, in the construction of the Cernavoda reactors

Thursday, October 29, 2020

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Romania and France have signed a declaration of intent on cooperation in the civil nuclear field, which aims, among other things, to collaborate in carrying out the construction project of Reactor 3 and 4 at Cernavoda and capital repair, modernization, renovation of Reactor 1, in a broader framework, with strategic partners.   “Today Nuclearelectrica signed an agreement with Orano, within the ...

Transelectrica checked the stage of the overhead power line 400 kV Oradea –Bekescsabaek project

Thursday, October 29, 2020

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The leadership of the national energy transporter Transelectrica checked the stage of works for the finalisation of the zone of Overhead Power Line of 00 kV Oradea Sud 0 Nadab, part of LEA 400 kV Oradea – Bekescsaba, investment resumed this year after more than 12 years of blockage. The operation of this power line has an important role in securing supply with electricity in the North-West part of the country, say the representatives of the ...

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