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Energy & Environment

Environment Ministry’s budget for 2018 covers state aid scheme for recycling industry

Thursday, March 1, 2018

The Environment Ministry’s budget for 2018 comprises a state aid scheme for recycling industry in Romania, said on Thursday the Environment minister Gratiela Gavrilescu, quoted by business-review.eu. “Because the waste recycling percent is extremely small in Romania and because we should develop this industry, we decided to bring money to the Environment Fund for a state aid scheme, a premiere for Romania. It’s a thing that we want to ...

MOL Group posts highest profit in a decade in 2017

Thursday, February 22, 2018

MOL Group posted Clean CCS EBITDA of USD 2.45 bn as all segments increased their contribution Free cash flow increased 21% year-on-year to reach USD 1.41 bn, comfortably beating the yearly guidance Net profit reached USD 1.11 bn, 18% up year-on-year Tuesday, 20 February 2018,MOL Group announced its financial results for 2017. ...

Romania imports over 7.7 mln tonnes of crude oil in 2017

Thursday, February 22, 2018

Romania imported a crude oil quantity of 7.75 million tonnes of oil equivalent (toe) in 2017, by 285.900 toe (3.8%) higher than that imported in the same period in 2016 , according to the data centralized by the National Institute of Statistics (INS). The crude production amounted to 3.42 million toe, down 4.4% (155.800 tep) from that in the previous year.According to the Energy Strategy draft, posted on the website of the Ministry of Energy, the domestic crude ...

OMV Petrom looking for Black Sea, Kazakhstan, Eastern Mediterranean expansion opportunities

Thursday, February 22, 2018


OMV Petrom, the largest oil company in Romania, is looking for development opportunities in the Black Sea, Kazakhstan and in the Eastern area of the Mediterranean, on Wednesday said the company's managing Director Mariana Gheorghe, in a news conference."When it comes to internationalization, we mainly talk about the upstream (exploration and production, ed. n.). We have planned a 100pct replacement degree of the reserves. Romania does not offer such potential. ...

Tie-up including Romania's Transgaz submits offer to buy 66% of Greece's DESFA

Thursday, February 22, 2018

A consortium including Romanian gas transmission company Transgaz [BSE:TGN] said on Monday it has submitted an offer to acquire 66% of the share capital of Greek gas transmission system operator DESFA, seenews.com informs. "Reganosa, Transgaz and EBRD acknowledge that we have submitted as part of the Reganosa consortium and were pleased to be able to support a competitive process for DESFA’s privatisation. EBRD has contributed to a ...

Romania's Black Sea perimeter has reserves of 200 bn cubic metres of gas

Thursday, February 22, 2018

The Black Sea gas reserves amount to 200 billion cubic meters in the perimeters where drilling took place, which would mean the total output of the country should double in 20 years, Sorin Gal, general manager of the National Agency for Mineral Resources (ANRM), said on Tuesday."When they work to the maximum, there will be 9-10 billion cubic meters of gas per year coming from the Black Sea for 20 years, which will bring the Romanian state 2.8 billion euros in ...

ExxonMobil, OMV Petrom to extract 6 bln cubic metres of gas per year from Black Sea

Thursday, February 22, 2018

ExxonMobil and OMV Petrom will start producing 6 billion cubic metres of gas per year from the Neptune block of the Black Sea, starting with 2020-2021, Sorin Gal, Director General of the National Agency for Mineral Resources (ANRM) stated on Tuesday.This would mean more than half of the country's current gas production, which stands at around 10-11 billion cubic metres of gas per year."Exxon should express its intent to move on to the next stage of the ...

Hidroelectrica posts 2017 gross profit of over 1.5 bn lei (general manager)

Thursday, February 22, 2018

Hidroelectrica estimates that it recorded a gross profit of more than 1 billion and a half lei last year, the best result of the company since it left insolvency, Bogdan Badea, the general manager of the energy producer, said on Monday."For us it was a year of challenges, it was a dry year and the market conditions were favorable at certain times. It was a complicated year because the energy production was lower," Badea told the ZF Power Summit ...

Coal production up 10.1pct in 2017, imports drop 1.9pct (INS)

Thursday, February 22, 2018

Romania's net coal production totalled in 2017 over 4.65 million tonnes oil equivalent, higher by 10.1pct (427,800 toe) against the previous year, according to data centralised by the National Institute for Statistics (INS). In the mentioned period, Romania imported 510,100 toe net coal, down by 9,700 toe (1.9pct) against the amount imported in 2016.According to the Energy Strategy project, published on the relevant ministry's website, Romania has total deposits ...

Hidroelectrica re-launches the EUR 80 M bid for Vidraru complex upgrading

Thursday, February 22, 2018

Romanian state-controlled hydropower producer Hidroelectrica re-launched the EUR 78.9 million tender for upgrading the Vidraru complex on the Arges River, and includes both the design and the works execution, romaniajournal.ro informs. Hidroelectrica published the new tender for the refurbishment of the Vidraru Hydro-Power Plant (HPP), consisting of a storage lake and a hydroelectric power plant, at the end of last week ...

Nuclearelectrica 2017 net profit up almost threefold from previous year

Thursday, February 22, 2018

 National Company Nuclearelectrica closed 2017 with a net profit of 303.05 ml lei, almost three times higher than the 111.367 ml lei posted in 2016, shows financial data released by the Bucharest Stock Exchange (BVB).Earnings before interest, tax, depreciation and amortization last year stood at 858.64 ml lei, up 37.9 percent from 2016. Operating revenues amounted to 1.933 bln lei (plus 15 percent), and operating expenses were 1.074 bln lei (plus 1.6 ...

EC: Romania, interested in joining the Southern Gas Corridor project

Thursday, February 22, 2018


Implementation of the Southern Gas Corridor project will make Europe stronger than before, European Commission Vice-President for Energy Union Maros Sefcovic said. Sefcovic made the remarks at a press conference in Baku Feb. 15 following the Fourth Ministerial Meeting of the Southern Gas Corridor Advisory Council. He said 2018 will be a special period in implementation of the Southern Gas Corridor ...

Rompetrol Rafinare - USD 22 million net profit and historical production records in 2017

Thursday, February 22, 2018

Rompetrol Rafinare, a KMG International Group member, has once again confirmed its profitability in 2017, obtaining a net consolidated result of approximately USD 22 million, in the context of historical production records accomplished by the Petromidia Navodari refinery and by the Vega Ploiesti refinery. “The Petromidia Refinery has reached last year a new historical daily processing record since the incorporation of the industrial platform ...

Energy Minister: Romania to align to European standards in its own time, we are not filler of EU

Thursday, February 22, 2018

Romania cannot renounce the production of energy based on coal and our thermal power plants will line up in their own time to the environment requirements of the European Union, and not quite as fast as officials in Brussels request, Energy Minister Anton Anton told Agerpres in an interview.He showed that the representatives of the European Commission intend to tighten over night the requirements regarding contaminants in thermal power plants and highlighted that ...

MOL Romania opens its first electric car charging station in Bucharest

Thursday, February 22, 2018

MOL Romania has opened its first charging station for electric vehicles, in the Nicolae Caramfil area in Bucharest, business-review.eu informs. Charging will be done through alternating and direct current at 50 kW, meaning that the station is compatible with any type of vehicles sold in Europe and Asia, electric or hybrid. The station supports the simultaneous charging of two cars, and depending on ...

Fondul Proprietatea isn't waiting for Hidroelectrica listing to happen this year

Thursday, February 15, 2018

Fondul Proprietatea (FP) isn't waiting for Hidroelectrica listing to happen this year, as the process entails a series of steps, among which electing a fully-mandated supervising board, Franklin Templeton Investments CEO and Fondul Proprietatea Johan Meyer said on Wednesday."We're not waiting for a listing of Hidroelectrica to happen, as a matter of fact, what to want to actively engage in this process, but unfortunately, for various reasons, it hasn't taken place, and really a ...

Oil Terminal, net profit down 67 percent, to 5.09 million, in 2017

Thursday, February 15, 2018

Oil Terminal will yield a net profit of over 5.09 million lei, down 66.9 percent as compared to 2016, according to unaudited financial reports posted by the Bucharest Stock Exchange (BVB) on its website. "For 2017, an amount of 25.384 million lei is provided for investment spending at the level of the investment funding source (respectively 25.384 lei), of which reimbursement of investment loans amount to 1.815 million lei and investment spending worth 23.569 million lei. On ...

Investments in wind energy down 19 pct in EU in 2017

Thursday, February 15, 2018

Expenditure for new production capacity for wind energy in Europe has decreased by a fifth in 2017, down to the lowest level in the past three years, according to WindEurope quoted by business-review.eu This is viewed as a sign that the sector is reducing costs and becoming more efficient as governments cut back subsidies. According to WindEurope annual report, investments in new onshore and offshore wind projects in the EU decreased by 19 percent last year, to EUR 22.3 ...

Transgaz, Eustream sign MoU on development of Eaststring on Romanian and Slovakian territory

Thursday, February 15, 2018


The Transgaz National Gas Transport Company and Slovakian similar company, Eustream announced the signing of a memorandum of understanding regarding the development of the Eastring gas transport corridor on the two countries' territories, according to a press release of Transgaz sent to the Bucharest Stock Exchange (BVB) on Monday.The memorandum was signed by the General Manager of Transgaz, Ion Sterian and Rastislav Nukovic, General Manager of Eustream.By signing the ...


Thursday, February 15, 2018

 - In 2017, primary energy resources increased by 3.3%, while those of electricity decreased by 3.4% as compared to 2016. Romania's national electricity consumption last year dipped 0.4 pct to 54.62 bln kWh, as public lighting dropped 7 pct and household consumption also decreased 5.1 pct, the National Institute for Statistics (INS) said on Monday.Primary energy resources January 1 through December 31, 2017 totaled 34.2 ml tons of oil equivalent (toe), up by ...

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