RSS
Energy & Environment
CEZ 2014 EBITDA in Romania falls on green certificates suspension, lower prices
Thursday, March 5, 2015
Czech energy group CEZ said on Tuesday its earnings before interest, taxes, depreciation and amortisation (EBITDA) from power production and trade in Romania dropped by 41% to 1.4 billion Czech crowns ($57 million/51 million euro) in 2014, while EBITDA from distribution and sales rose 28% to 2.3 billion crowns. On the power production and trading segment, EBITDA fell by around 1 billion ...
Energy Ministry needs a counselor to deal with the scenarios of the Energy Strategy
Thursday, March 5, 2015
To complete the Energy Strategy, the Energy Ministry would need a counselor to deal with the scenarios and simulations which could be accomplished on its grounds, because the ministry has not enough staff, on Tuesday said Energy minister, Andrei Gerea at the Senate's Committee for Transports and ...
Reuters: CEE POWER-Czech and Slovak spot prices gain as Romania dip
Thursday, March 5, 2015
Polish utilities to have 5.5 GW offline on Tuesday German wind generation forecast at 16.7 GW Forecast for declining wind supply offset surge in solar production and drove Czech, Slovak day-ahead power higher on Monday, while Romanian spot prices declined on forecasts for increased renewables generation, traders ...
MVM purchases hydroelectric power plant in Romania
Thursday, March 5, 2015
State-owned Hungarian Electricity Works (MVM) has purchased a 7.48MW hydroelectric power plant in Romania, more precisely it a 90% stake in the plant in order to “further strengthen its renewables portfolio” Romanian daily Kronika reported. According to the paper, the value of the transaction is approximately €30 mln based on a contract signed in ...
PM Ponta offers Albania the surplus energy of Romania
Thursday, March 5, 2015
Prime Minister Victor Ponta sees Albania as a potential beneficiary of Romania's surplus energy. After meeting his Albanian counterpart Edi Rama on Friday, Ponta declared they have discussed a possibility of 'concrete collaboration' on energy. 'We have discussed a possible concrete collaboration ...
EurActiv: Joint gas buying on EU leaders' summit agenda
Thursday, March 5, 2015
EU leaders will discuss how best to strengthen the bloc’s bargaining power, including the collective buying of gas, when they debate the European Commission communication on Energy Union. Chairing the summit, European Council President Donald Tusk rspearheaded the idea of EU countries ...
Energy Union: secure, sustainable, competitive, affordable energy for every European
Thursday, February 26, 2015
Energy is used to heat and to cool buildings and homes, transport goods, and power the economy. But with ageing infrastructure, poorly integrated markets, and uncoordinated policies, our consumers, households and businesses do not benefit from increased choice or from lower energy prices. It is time to complete the single energy market in Europe. Delivering on this top priority set out in President Juncker's political guidelines, today the European Commission sets out its ...
Romania must shut down all unprofitable energy producers by 2018, say officials
Thursday, February 26, 2015
Romania must close by 2018 all unprofitable energy capacities and the Romanian authorities will have difficulties in persuading the EU that they are not trying to circumvent the rules, as they have a low credibility, according to the president of the Competition Council, Bogdan Chiritoiu. According to Mediafax, he mentioned at ZF Power Summit about the EUR 1 billion loss registered ...
EurActiv:Chevron gives up shale gas exploration in Romania
Thursday, February 26, 2015
Chevron Corp said it will give up shale gas exploration plans in Romania, after an assessment showed the Black Sea state does not compete favourably with other investment opportunities. Energy firms have been attracted by estimates of massive shale gas reserves in Poland and Romania. Last month, the U.S. energy major took a similar decision to discontinue its operations in Poland. "Chevron intends ...
Crude oil imported quantity of over 6.727 million tonnes in 2014
Thursday, February 26, 2015
Romania imported last year a crude oil quantity of over 6.727 million tonnes of oil equivalent (toe), by 1.428 million toe (30%) higher than that imported in 2013, according to the data centralized by the National Statistics Institute (INS). The crude oil production in 2014 totaled 3.788 million toe, by 2% (79,000 toe) lower compared to that in the previous year. According to the draft Romania's 2015-2035 Energy Strategy, the country's crude ...
FinMin Valcov to meet officials of oil companies this March
Thursday, February 26, 2015
Finance Minister Darius Valcov is expected to meet officials of oil companies this March to discuss the rapid increase in fuel prices at the pump amidst increasing oil barrel prices. Valcov said Monday at Parliament Palace that the authorities noticed the 30-per cent increase in the oil barrel prices from 45 to 60 US dollars was immediately reflected in the fuel prices at the pump, while when prices were falling, the fall in the prices at the pump was ...
Orban keen to transport gas to Hungary via Turkey
Thursday, February 26, 2015
Hungarian Prime Minister Viktor Orban on Tuesday called for efforts to ensure the transport of gas to central Europe, Hungary included, via Turkey. "We need to work to get the gas from Turkey to central Europe and Hungary" via Serbia among other countries, Orban said at a press conference following talks with Turkish Prime Minister Ahmet Davutoglu. He said this would make "us able to ...
Romanian oil, gas and petrochemicals
Thursday, February 26, 2015
Oil and gas BMI has commented that upgrades are helping to improve efficiencies in the Romanian refining sector, though a weak demand market and alleged corruption are highlighting the ongoing challenges. Fuel prices in the country fell 20% last year, and as a result BMI expect to see growth in refined product demand this year, albeit marginal, for the first time in six ...
Energy cooperation on the agenda of the Intergovernmental Joint Commission Romania - Kazakhstan, Bucharest, April 21 - 22
Thursday, February 26, 2015
Energy cooperation between Romania and Kazakhstan will be one of the topics on the agenda of the 11th session of the Intergovernmental Joint Commission Romania - Kazakhstan, to be held in Bucharest on April 21 - 22, reads a press release of the Ministry of Energy, SMEs and Business Milieu (MEIMMMA).According to the cited source, Minister of Energy and SMEs and Business Milieu Andrei Dominic Gerea had a meeting with Kazakhstan's Ambassador Extraordinary and ...
Romania imported usable natural gas in 2014 down 61.5 per cent from 2013
Thursday, February 26, 2015
In 2014, Romania imported 447,400 toe (tons of oil equivalent) usable natural gas, down 61.5 per cent (714,100 toe) from 2013, show data with the National Statistics Institute (INS). Total domestic natural gas production in 2014 exceeded 8.675 toe, up 0.9 per cent (73,900 toe) from 2013. According to the 2015-2030 Energy Strategy of Romania, Romania possesses the highest natural gas reserves in Central and Eastern Europe, with proven reserves ...
President Klaus Iohannis: electricity transmission networks need significant extension
Thursday, February 26, 2015
President Klaus Iohannis says electricity transmission networks need significant extension. Within the context of his meeting with his Bulgarian counterpart Rosen Plevneliev, Iohannis underlined the need for better regional collaboration with Bulgaria, as without it 'many things are very difficult to achieve.' The Romanian president pointed out the economic benefits of better and deeper political and geostrategic collaboration, including the energy ...
Bulgaria's president Rosen Plevneliev: the interconnection of the gas pipeline between Bulgaria and Romania is a priority
Thursday, February 26, 2015
Bulgaria's president, Rosen Plevneliev on Friday specified that the interconnection of the gas pipeline between Bulgaria and Romania, which is part of the North-South corridor is a priority and this project will be finalised as soon as possible. "We share the joint opinion that not all roads should lead to Brussels and not all gas pipelines, electricity pipelines, railways must be East-West and that they should and could also be North-South. We have an ...
Bloomberg: OMV Petrom 2014 Profit Falls 56% as Oil Prices Prompt 4Q Loss
Thursday, February 26, 2015
OMV Petrom SA, Romania’s largest oil company, said its 2014 net income declined 56 percent from a year earlier as falling oil prices caused a loss in the fourth quarter, Bloomberg informs. Profit dropped to 2.1 billion lei ($539 million) from 4.8 billion lei in 2013 because of cheaper oil and higher production costs, the company said in a statement to the Bucharest bourse on Thursday. Sales fell 11 percent to 21.5 ...
OMV Petrom Group estimates for 2015 an investment at between 800 million euros and 1.1 billion euros
Thursday, February 26, 2015
OMV Petrom Group has in view for 2015 an investment programme estimated at between 800 million euros and 1.1 billion euros, of which most will go to the Exploration and Production (E&P) projects, the company announced in a release on Thursday. "The current investment programme is estimated to be between 0.8 to 1.1 billion euros for 2015, of which approximately 85 percent will go to the E&P projects. The intensification of cost-streamlining programmes ...
Romanian Lighting Industry Forum 2015: Modern lighting, a solution to improve energy efficiency
Thursday, February 26, 2015
Energy-efficient lighting, one of the most important solutions when it comes to implementing programmes to improve energy efficiency – a fundamental part of the next phase in Romania's energy strategy, will be in the spotlight at GOVNET Conferences' Lighting Industry Forum 2015, which will take place on Thursday, March 5, 2015 at InterContinental Hotel in ...