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Energy & Environment
ForMin Aurescu : the access to energy is a security matter
Thursday, April 2, 2015
Minister of Foreign Affairs Bogdan Aurescu stated, on Friday, in the opening of the conference titled "Regional approaches to the concept of energy security" that, given the backdrop of events in the eastern vicinity of the European Union, access to energy is not only an economic matter, but also a security matter and the states in the region ...
Romgaz announces two new gas discoveries
Thursday, April 2, 2015
Romgaz started experimental exploitation of two new natural gas accumulations in Suceava and Mures counties, ensuring 3% of company production. Frasin Suceava well drilled at 1,400 m in the Moldova North area where Romgaz had been extracting natural gas since 1972.“With this drilling made in January 2015 we brought to the fore a condensed gas reserve,”a Romgaz press release ...
Romania also has oil reserves of over 200 billion dollars
Thursday, April 2, 2015
Romania’s underground also hides oil of over 200 billion dollars, even after 150 years of production. In order to get reserves to the surface competition must increase by the appearance of several smaller producers, said Radu Mircescu, general manager and main shareholder of Gasoil Group, a group of companies for well servicing. “Since 1860 when oil production began in Romania about 5 million tons have been ...
Deepwater Black Sea, shale top Romania’s oil, gas agenda
Thursday, April 2, 2015
Romania is proud of the history of its petroleum industry. The country is officially recognized as the first to produce oil in the world in 1857—two years before the Drake well was drilled in Pennsylvania. Bucharest was the first capital in the world to be lit by kerosene. There was a connection at that time between Romania and the U.S.—the first refinery was built in 1857 with American financial investment, an analysis posted on ...
Romanian Energy Awards 2015, May 12, 2015, Crowne Plaza Hotel, Bucharest
Thursday, April 2, 2015
The Diplomat-Bucharest organizes the fourth edition of the Romanian Energy Awards 2015, on 12 May, at Crowne Plaza Hotel Bucharest . The event brings together the Who's Who in the energy and natural resources sector in Romania. The Awards ...
Sterling Resources announces sale of its Romanian business
Thursday, April 2, 2015
Sterling Resources Ltd. (TSX-V: SLG) ("Sterling" or the "Company") is pleased to announce that it has entered into an agreement (the "Romanian Sale Agreement") to sell its entire Romanian business to Carlyle International Energy Partners ("CIEP"), an affiliate of The Carlyle Group (NASDAQ: CG). The sale includes licence blocks 13 Pelican, 15 Midia, 25 Luceafarul and 27 Muridava, structured as a corporate sale of the ...
BEPCO MAKES THE BIGGEST PRIVATE INVESTMENT IN COGENERATION IN ROMANIA
Thursday, April 2, 2015
Bepco Company acquired 11 gas cogeneration engines in connection with an investment of 34 million euros which involves the construction of four plants connected to the district heating system in Brasov. The solution provider for this project is GE Distributed Power, of the American group General Electric (GE). They can generate 38 thermal MW and 42 electrical MW, benefiting from an efficiency of over 84%, says GE ...
HUNT OIL IS LOOKING FOR A SEISMIC PROSPECTING SERVICE PROVIDER
Thursday, April 2, 2015
Hunt Oil Company of Romania, a subsidiary of US oil group Hunt Oil, wants to outsource 3D seismic prospecting services for one year in the Adjud area, Vrancea County. The company needs 3D data acquisition for an area of approximately 230 square kilometers, with costs of 7.3 million euros, VAT included, notes Mediafax. The contract targets including the obtaining of the permits and licenses, identification of the ...
Leaders broadly endorse 'Energy Union' plans, leave details to later
Thursday, March 26, 2015
European leaders on Thursday (19 March) threw their weight behind proposals for a single market for power and gas, based on better connections between member states, but left prickly discussions to later. Poland led the calls for the Energy Union, in order to put an end to decades of secrecy over gas supply contracts and curb Russia's dominant position in the gas market. But Germany raised concerns ...
IOHANNIS: IS EACH STATE’S FREEDOM TO CHOOSE ITS ENERGY MIX
Thursday, March 26, 2015
Leaders of European countries agreed at the summit in Brussels last week to create the Energy Union, throughout which the EU will accelerate the interconnection of European networks. Attending the meeting, the Romanian President Klaus Iohannis insisted upon the freedom of each Member State to choose the national energy mix, according to the National Press.“A key aspect on which I insisted is the freedom of each ...
The production of electricity increased by 11.3% last year, and the consumption by 2%
Thursday, March 26, 2015
The production of electricity increased last year by 11.3% against 2013 and the net consumption went up by 2% at 53.5 TWh stated in a press conference Toni Teau, the chairman of the board of Transelectrica (TEL) the national operator of energy transport. He added that last year the energy export was 7.5 TWh, 3.5 times higher than in 2013 and the highest since 2004. On the other hand, the energy import was in 2014 1.4 ...
Transelectrica waits for a drop by two thirds of the profit this year, at 138.7 million lei
Thursday, March 26, 2015
Transelectrica estimates a net profit of 138.7 million lei (32 million euro) this year, dropping by 62.5% from the record result of 370 million lei obtained in 2014, due to the reduction of some categories of income and the increase of expenditure, according to the budget of the company, approved on Monday. For the next year, the energy transporter estimates a net profit of 67 million lei, with the result of increasing slightly in 2017 at 71.91 million ...
The minimum amount of gas which the suppliers need to have in storage is 18.727 million MWh
Thursday, March 26, 2015
The minimum amount of natural gas which the 63 suppliers with licence have the obligation to keep in storage until 31 October 2015 is 18.727 million MWh according to the data published on the site of the National Authority of Regulation in Energy. The minimum amount for the household clients is over 7.535 million MWh, the largest quantities being made by GDF Suez EnergyRomania and E.ON Energie Romania,of 3.606 million ...
The price of natural gas for the population could go up by 6-7% starting with 1 July
Thursday, March 26, 2015
The price of natural gas for the population could increase by 6-7% from 1 July 2015, following the discussions ANRE has with the representatives of the IMF and the European Commision, stated on Friday in a debate the chairman of the ANRE Niculale Havrilet. ‘We have a government decision which ends on 1 July 2015. Starting with 1 July we need another decision and the prices for the next period of the calendar ( since ...
Romania no longer needs Russian gas
Thursday, March 26, 2015
Romania will stop importing Russian gas in April due to reduction of its consumption in industry and rise of investments in energy efficiency. The country will cover all its demands for gas, RIA Novosti reports. Romania consumes 10-11 billion cubic meters of gas annually. 400 million cubic meters of the volume is imported from Russia. The gas consumption in 2007 amounted to 18 billion cubic meters, a third of which was ...
Bulgaria, Romania launch joint tender to complete gas link
Thursday, March 26, 2015
Bulgaria launched a joint tender with Romania to complete the much-delayed gas interconnector between the Balkan neighbours, the state owned gas network operator Bulgartransgaz said, quoted by Reuters correspondent. The Black Sea state, which gets more than 90 percent of its gas from Gazprom through one route, has stepped up ...
Chiritoiu: Restructuring of Hunedoara, Oltenia Energy Complexes to affect Romania's electricity market
Thursday, March 26, 2015
Romania's electricity market will be affected this year by the implementation of the restructuring plans at the Hunedoara and Oltenia Energy Complexes, but these measures are set forth in the understandings with the international financial institutions, the stakes being the state aid, says Competition Council's President Bogdan Chiritoiu. "In terms of energy, I believe the most important goal is the state aid. As part of ...
20,440 green certificates traded in Q1 2015
Thursday, March 26, 2015
The number of green certificates traded in Q1 2015 the Centralized Market of Green Certificates amounted to 20,440 units, according to the data made public by the energy market operator OPCOM. In the first session of March, 128 new offers for sale and nine purchase ones were launched and 8,300 green certificates were traded. The closing price was 131.0847 lei per certificate, down from that in the first two months of the year, which was 130.69 lei per ...
Romania imported natural gas , in January 2015, by 74% lower than in the same period in 2014
Thursday, March 26, 2015
Romania imported, in January 2015, an amount of usable natural gas of 36,100 tonnes of oil equivalent (toe), by 74% (102,700 toe) lower than the amount imported in the same period in 2014, according to the data centralized by the National Institute of Statistics. The domestic production of natural gas totaled, in January, 755,500 toe, by 4,900 (0.7%) higher than that reported in January 2014. The imports of usable natural gas amounted to ...
Romgaz's Board proposes gross dividend to be 3.15 lei per share
Thursday, March 26, 2015
Romgaz's Board proposes that 1.214 billion lei from the 2014 net profit be distributed to shareholders as dividends, with the gross dividend to be 3.15 lei per share, according to a report sent to the Bucharest Stock Exchange. "The dividends for shareholders, in line with the proposal to distribute the 2014 profit, amount to 1,214,080,560 lei. Dividends are distributed to shareholders proportionally with the participation quota in the share capital. The ...