Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Energy & Environment

BSOG and GSP launch MGD project, US ambassador criticizes harshly Russia’s position in the region

Thursday, September 24, 2020

The American company BSOG and Grup Servicii Petroliere launched the MGD project, the first Romanian offshore natural gas exploitation project developed by the American company, with a total investment of over 600 million US dollars (400 million dollars in the project and another 200 million in related activities), according to BSOG CEO Mark Beacom. “In fact, Romania should not import any cubic meters of gas,” says Beacom, who claims ...

EconMin Popescu: Romania, important step to ensure it is first country to extract gas from Black Sea

Thursday, September 24, 2020

By starting the works on the sub-marine pipeline within the Midia - MGD natural gas development project, Romania has taken an important step and makes sure that it will probably be the first country to extract natural gas from the Black Sea, the Minister of Economy, Energy and Business Environment, Virgil Popescu declared on Thursday."Today is a big day for Romania, for the strategic partnership between Romania and the United States of America, especially for its ...

Beacom (BSOG): All money paid for gas imports go outside Romania

Thursday, September 24, 2020

Romania must be proud of the resources it has and must work to capitalize them, because nobody wants to import gas from other producers in the Black Sea, said, on Thursday, Mark Beacom, CEO of Black Sea Oil&Gas (BSOG).We must not forget that Romania is not the only country with a Black Sea littoral. It has other neighbors, who, desperately, are trying to reach the moment it is in now. I saw and heard the Turkish President speak of a significant discovery in ...

BSOG's Beacom: It's necessary for all the hostile legislation of investments in Black Sea vanishes

Thursday, September 24, 2020

All legislation hostile to investments in the Black Sea must disappear for offshore projects to gain momentum, Mark Beacom, CEO of Black Sea Oil&Gas, said Thursday.In order for projects in the Black Sea to gain momentum, it is absolutely necessary that all hostile legislation in the Black Sea hydrocarbon fields, which was adopted in 2018, disappears completely. And those rules that at the moment allow foreign companies and foreign producers to bring ...

Comanescu (GSP): We hope that, next year mid-June the first gas from the Black Sea to get in the transport system

Thursday, September 24, 2020

The first gas from the deposits in the Black Sea which are included in the Project for Development Natural Gas Midia in the Black Sea of Black Sea Oil & Gas could get into the national system of transport next year, around June, said on Thursday the chairman of Grup Servicii Petroliere (GSP) Gabriel Comanescu.‘Today this is a special event for Romania, for the partnership between Romania and the US.This project which was started two years ago is getting ...

Claudiu Cazacu, XTB Romania: 2020, a year of great headwinds for the oil market

Thursday, September 24, 2020

* To understand where the price of oil is heading in the second half of the year but also in the medium and long term, Claudiu Cazacu, Strategy Consultant at XTB Romania, one of the largest derivatives brokers in the world and investment company listed on the Warsaw Stock Exchange, prepared a comprehensive analysis.   This year was one of great trials for oil market participants. Dramatic price ...

Coal production fell by more than 37% in first seven months of 2020

Thursday, September 24, 2020

Romania's net coal production totaled 1.357 million tonnes of oil equivalent (toe) in the first seven months of 2020, by 37.1% (800,200 toe), lower than in similar period of 2019, according to data centralized by the National Institute of Statistics (INS).During the mentioned period, Romania imported 226,200 toe of net coal, by 198,500 toe (46.7%) less than the quantity imported in January - July 2019.The main primary energy resources between ...

OMV Petrom confirms it has reduced gas production and is resorting to imports

Thursday, September 24, 2020

OMV Petrom representatives confirm that the company's gas production has been reduced due to the shutdown of the Hurezani facilities, and gas is being purchased from the market, including imports, to ensure gas availability in National Gas Transmission System (SNT)."As announced in REMIT [Regulation on wholesale energy market integrity and transparency], between September 16 and 22, the compressor and gas treatment plant in Hurezani entered the planned ...

Gas imports increase by 0.4 pct in first seven months, and production reduces by 11 pct

Thursday, September 24, 2020

Romania has imported, in the first seven months of 2020, a quantity of usable natural gas of 1.116 million tons of oil equivalent (toe), by 0.4 pct (4,000 toe) more than in the similar period of 2019, according to data centralized by the National Institute for Statistics (INS).The internal natural gas production, in the mentioned period, was of 4.221 million toe, by 11.3 pct (534,000 toe) lower than that in the January-July 2019 period.The main ...

ENEL CFO, AS CO-CHAIR OF U.N. GLOBAL COMPACT’S CFO TASKFORCE, GUIDES LAUNCH OF PRINCIPLES ON INTEGRATED SDG INVESTMENTS AND FINANCE

Thursday, September 24, 2020

Enel Chief Financial Officer Alberto De Paoli participates today in the Global Launch of the CFO Principles for Integrated SDG Investments and Finance, during the United Nations Global Compact (UNGC) Private Sector Forum. The CFO Principles are a set of four values aimed at indicating how companies can align their corporate finance strategies to sustainability commitments in order to create a real-world impact towards the UN Sustainable Development Goals (SDGs). The CFO ...

Nuclearelectrica was included in the Emerging Markets indices of FTSE Russell

Thursday, September 24, 2020

Nuclearelectrica becomes the first majority state-owned Romanian company listed on BVB that is included in the FTSE Russell indices dedicated to Emerging Markets. For the first time in history, the Romanian capital market is included, starting from September 21st, 2020, in the Emerging Markets indices – new investment funds that manage billions of euros will be able to invest in the companies listed on the Bucharest Stock Exchange (BVB), a move that was previously ...

Romgaz to open a supply branch in Turnu Severin

Thursday, September 24, 2020

Romgaz’ Board of Directors approved the establishment of the Drobeta-Turnu Severin Branch, a few days after signing a memorandum with Mehedin?i Gaz for the installation of dozens of small gas-fired power plants in the city. “Romgaz has taken a first step in supplying gas to the end customer,” said Romgaz CEO Adrian Volintiru. “It is a step in the affirmation of ...

Minister Popescu: We need support to finance passing from coal to renewable resources

Thursday, September 17, 2020

Romania needs support to shift from production of electricity based on coal to that from renewable sources, such as natural gas, said Virgil Popescu, the minister of Economy, Energy and Business Environment.   “In the energy sector we speak about the national plan in the energy and climate change field which we forwarded to the European Commission and here we ...

EconMin Popescu: Romanian gas has become cheaper, so exports to Hungary have resumed

Thursday, September 17, 2020

200917104136EnergyGas_Img4_1024x643.jpg

Gas on the Romanian market have become cheaper as a result of the increase in domestic production, so that exports to Hungary have resumed, said on Tuesday the Minister of Economy, Energy and Business Environment, Virgil Popescu ."On July 1, the gas market has been deregulated and we changed the centralized market obligation with a gas release program, where we linked the price of gas in Romania to the price of the Vienna regional stock exchange, Baumgarten. As we ...

Coface: Global Renewable Energies: Continued Ascension Despite The COVID-19 Pandemic

Thursday, September 17, 2020

200917104221coface_logo.jpg

The COVID-19 health crisis has had a negative impact on short-term global renewable energy development, and challenges remain in the medium- to long-term, according to a recent Coface study sent to ACTMedia.. Renewables have strengthened rapidly in the last 20 years, particularly in power generation, increasingly gaining market share from traditional energy sources such as coal, oil, and nuclear. The COVID-19 crisis has had a significant impact on this ...

Eurostat: Romania, among the main lignite producers in the EU, in 2018

Thursday, September 17, 2020

Nine Member States in the European Union produce lignite, also called ‘brown coal’, for electricity and heat production. Germany is the main producer and accounted for about 45% of total EU lignite production in 2018 followed by Poland (16%), Czechia (11%), Greece (10%), Bulgaria (8%) and Romania (6%). All together these 6 countries accounted for 96% of the total EU production.   In 2018, 9% ...

Only 35% of Romania's population is connected to gas network

Thursday, September 17, 2020

Prime Minister Ludovic Orban declared on Friday in Orsova, where he participated in the presentation of the project "Prunisor-Orsova-Baile Herculane-Jupa natural gas transmission pipeline", that only 35% of Romania's population is connected to the gas network."Only 35% of Romania's population is connected to the gas network. Romania has gas and we almost have no petrochemistry left, because the PSD [Social Democratic Party] locusts have robbed the entire ...

Jan - July primary energy resources down 13 pct YoY

Thursday, September 17, 2020

200917104325profits_fall_22498900.jpg

Romania's primary energy resources over January 1 - July 31, 2020 were 13 percent down YoY, and the country's electricity resources were 4.5 percent down from the same period of the previous year, shows data released by the National Institute of Statistics (INS) on Friday.The main primary energy resources in the reporting period totaled 17,705 million toe, by 2.647 million toe less compared to the period January 1 - July 31, 2019.The domestic ...

Transgaz seeking 74 mln euro investment loan

Thursday, September 17, 2020

Romanian gas transmission company Transgaz [BSE:TGN] announced that it is seeking a bank loan of 360 million lei ($88 million/ 74 million euro) in order to finance investment projects.   Transgaz is seeking a loan with a term of 13 years, with a grace period of 1 year, payable in semi-annual instalments, it said in a statement on Thursday. The company is yet to decide whether it will take ...

Vast Resources raises 1.85 mln euro to cover additional costs of Romanian mining project

Thursday, September 17, 2020

* UK-based Vast Resources said on Thursday that it has raised 1.683 million British pounds ($2.18 million/1.85 million euro) to cover additional costs of production at its Baita Plai polymetallic project in Romania.   The cash raised will be used to secure additional working capital that is required on account of delays to cash flow caused mainly through the pause in production caused ...

Premium News

Daily

Friday, October 30, 2020

Financial & Banking

Monday, October 26, 2020

Economic

Tuesday, October 27, 2020

Companies

Wednesday, October 28, 2020

Energy & Environment

Thursday, October 29, 2020