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Energy & Environment
Rompetrol to upgrade 90 oil stations by end-year
Thursday, July 31, 2014
Rompetrol Downstream, a member of KazMunayGas (KMG) International, has upgraded in the first seven months of 2014 some 38 oil stations and will continue with another 52 by the end of the year, according to a company's release on Thursday.The rebranding was accomplished by replacing the visual identity elements with the new Rompetrol logo as well as some outdoor works.The total investment is estimated at over 18 million dollars. 'We wish ...
OMV Petrom invests 600 million euros in Petrobrazi Refinery modernisation programme
Thursday, July 31, 2014
The programme for the modernisation of the Petrobrazi Refinery, conducted by OMV Petrom over a four-year period, was completed, the total investments amounting to approximately 600 million euros, the oil company announced in a press release on Thursday.The largest oil and gas producer in South-Eastern Europe mentions that the modernisation programme of Petrobrazi Refinery was carried out in the period 2010-2014 and the main target of the investment program was to ...
Trans-Adriatic Pipeline gaining momentum
Thursday, July 31, 2014
*Pipeline could help with European energy diversity. The group planning a 540-mile natural gas pipeline through southern Europe said Friday it issued its next contract notice for the project's ...
Romania sues Enel at ICC International Court of Arbitration in Paris
Thursday, July 24, 2014
The Energy Shares Administration Company (SAPE), a company detached from the Romanian energy company Electrica and currently subordinated to the Department of Energy, will file a case against Enel at the International Court of Arbitration of the International Chamber of Commerce (ICC) in Paris regarding the ...
NIS Petrol will start the exploiting operations of two oil lots in Timis
Thursday, July 24, 2014
The Serbian company NIS Petrol, controlled by the Russian group Gazprom will start ‘ in the following period’ the exploitation works of the oil sources which they have leased in Timis county. ‘The increase of production capacity following some significant investments in the modernisation of the Pancevo refinery ...
Nearly 7 million euros EBRD investments in recycling in Romania (Green Group)
Thursday, July 24, 2014
The European Bank for Reconstruction and Development (EBRD) has invested so far nearly 7 million euros in the Romanian recycling industry; it contributed to the single integrated recycling park in the country - the Green Group, according to data released on Wednesday by this association of Romanian companies.EBRD representatives recently visited Green Group's factories in Buzau County (northeast of ...
EIB continues to support investment to increase energy efficiency of residential buildings in Bucharest
Thursday, July 24, 2014
The European Investment Bank (EIB) is providing EUR 22.47 million - the first tranche of an approved EIB loan for a total amount of EUR 136.5 million - to finance the second phase of the refurbishment programme for multi-family housing in the Sector 1 municipality of the Romanian Capital of Bucharest. The project is expected to result in around 50% savings in the heating energy consumption of the buildings ...
Nuclear Activities Company fined 5.2M euros for failure to meet green certificate share
Thursday, July 24, 2014
The Nuclear Activities Public Company, that has been declared insolvent for nearly a year, must pay a 5.2 million euros fine for failure to meet the mandatory share of purchasing the green certificates for last year, reveals the 2013 report of the renewable energy market drawn up by the National Energy Regulatory Authority that was made public on Tuesday.In a move meant to support the renewable energy sector, the electricity producers get a number of green ...
ExxonMobil, OMV Petrom start drilling with Domino-2 derrick, in Romania's Black Sea sector
Thursday, July 24, 2014
ExxonMobil Exploration and Production Romania Limited, a subsidiary of Exxon Mobil Corporation, and OMV Petrom announced on Monday, in a press release, the start of drilling with Domino-2 derrick in the deepsea area of Neptune block in the Romanian sector of the Black Sea. According to the cited source, the data collected during the drilling programme will be used to assess the size and the commercial viability of the gas deposit found by the exploration derrick ...
Romania and Montenegro seeking to ink energy cooperation memorandum
Thursday, July 24, 2014
Minister of Foreign Affairs Titus Corlatean met last Friday, on the occasion of his official visit to Montenegro, with Montenegrin Minister of Economy Vladimir Kavaric; the two high officials agreed on the need for the speedy signing of the Energy Cooperation Memorandum, the Romanian Foreign Ministry informs.According to the cited institution, the two officials tackled a number of important subjects on the agenda of bilateral economic cooperation, particularly ...
Household consumers pay more for energy because of distribution fees
Thursday, July 24, 2014
Economy Minister Constantin Nita said Thursday in Craiova that energy bills paid by household consumers are high because of distribution fees, but starting in 2017 they will be allowed to choose their own distributors.'In the past years, energy prices have increased, as prices had to get in line with European prices before the OPCOM exchange became operational, an exchange that operates very well. If you bought energy at that exchange, you would see prices of 35 ...
Romgaz offers natural gas on OPCOM exchange
Thursday, July 24, 2014
State-owned natural gas producer Romgaz offered 318,000 MWh equivalent on natural gas on the specialized exchange of the electricity and gas market operator OPCOM, according to the exchange's website.Romgaz asks 90 lei per MWh, slightly above the current regulated price of 89.4 lei per MWh for non-household consumers.The auction is scheduled on July 23, for a delivery period from August 1 to August 31 2014.A previous attempt of supplier ...
Dobrogea becomes the largest wind park in Central and Eastern Europe
Thursday, July 24, 2014
Dobrogea became the largest wind park in Central and Eastern Europe, with hundreds of 2.5 MW wind turbines being spread all over the Constanta County, in Cogealac, Fantele, Pestera, Independenta, Chirnogeni, Silistea, Targusor and Crucea localities and surrounding areas.The Dobrogea strong winds and the high price of electricity continue to attract investments in wind parks here, despite the problem existing of the missing infrastructure for transporting the ...
ANRS to trade over 51,000 tonnes of heating oil, 26,000 tonnes of petrol on BRM
Thursday, July 17, 2014
The National State Reserves Administration (ANRS) has filed orders with the Romanian Commodity Exchange (BRM) for the trade of 51,268 tonnes of heating oil and 26,407 tonnes of Euro 3 petrol, BRM reports on its website.The BRM trade sessions for the selling of these petroleum products will be held toward the end of the month, on July 28 and 29.For the heating oil, the buying bids have to state the final price for the product in lei/kg, excise duty excluded, (71.07 ...
Petrom strikes oil under shallow Black Sea waters
Thursday, July 17, 2014
OMV Petrom, the largest oil and gas producer in South-Eastern Europe announces the success of an exploration well drilled in the Black Sea's shallow waters, where tests point to a 1,500-2,000 barrels of oil equivalent (BOE)/day production potential, according to a company release remitted to AGERPRES on Wednesday.The exploration well Marina 1 was drilled 60 km from shore, in the Istria XVIII Perimeter, to a depth of about 2,150 metres below the seabed. Water depth in the area is ...
Romania committed to export gas to the Republic of Moldova during cold season
Thursday, July 17, 2014
Romania committed to export natural gas to the Republic of Moldova during the cold season, reads a statement of the National Energy Regulatory Authority (ANRE) which explains the reasons for the authority's decision to require gas producers to sell on the dedicated exchange at least 20 percent of their output as of July 15. The order instates the obligation of natural gas producers and suppliers to enter deals on the Romanian centralized markets, under consideration of the legal ...
Capacity of renewable energy projects hits 4,689 MW this May
Thursday, July 17, 2014
Renewable energy projects reached a total capacity of 4,689 MW at the end of May, shows Transelectrica data. Thus, the wind projects connected to the grid had a capacity of 2,829 MW, the capacity of solar parks was 1,200 MW, micro-hydro power plants represented 560 MW and biomass power plants had an aggregate capacity of 100 MW. At the end of ...
Minister Nicolescu: Enel must further fully observe contractual commitments
Thursday, July 17, 2014
All the commitments pledged by Italy's Enel under privatization contracts must be further fully observed, Minister-delegate for Energy Razvan Nicolescu said in a statement.Italian energy group Enel announced that its Board of Directors had agreed on a plan to sell its power generation assets in Slovakia and its distribution and sales assets in Romania. 'Plans of the new management of Enel Group to reduce their presence abroad is no surprise for us. As far as the ...
New Romanian hydrocarbon discoveries could be announced in the next period, says minister
Thursday, July 17, 2014
Razvan Nicolescu, the delegate minister of energy, said that we should not be surprised if companies investing in the exploration of oil and gas will announce discoveries of new deposits in the next period. Nicolescu made an unannounced visit today at the building site of a EUR 25 million gas deposit in Urziceni. The deposit, which is managed by state-owned gas producer Romgaz has a ...
CEZ Group’s 2013 net profit in Romania gains 14.1 percent to RON 220 mln
Thursday, July 17, 2014
The net profit of CEZ Group in Romania has increased by 14.1 percent to RON 220.1 million (EUR 50 million) in 2013 against the previous year, driven by increased output of its wind farm. The group’s EBITDA added 22.7 percent to RON 931 million (EUR 211 million) due to higher production of the 600MW wind farm in the Dobrogea region that was finished at the end of 2012. “Although the 2013 year has put considerable pressure on the energy sector, bringing several ...