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Energy & Environment

Romania wins trial at ICSID Washington against energy trader Alpiq

Thursday, November 15, 2018

The Romanian government has won a trial at World Bank’s International Centre for Settlement of Investment Disputes (ICSID) in Washington against the Swiss-based energy trader Alpiq in a case related to Hidroelectrica insolvency procedure, http://business-review.eu reads. Alpiq has demanded to the international commercial court that Romania be ordered to pay over USD 450 million in damages, claiming ...

PRIMARY ENERGY RESOURCES DURING 1.I.–30.IX.2018

Thursday, November 15, 2018

- During 1.I – 30.IX.2018, primary energy resources increased by 1.4%, while those of electricity increased by 0.1% as compared to the same period of previous year. The primary energy resources increased by 1.4 percent in the first nine months of 2018, whereas the electricity resources increased by 0.1 percent compared to the similar period of 2017, according to the data published by the National Institute of Statistics (INS) on ...

Black Sea Oil&Gas and Transgaz sign a  15 year contract for the transport of natural gas produced in the Midia project

Thursday, November 15, 2018

The oil company Black Sea Oil &Gas (BSOG) owned by Carlyle International  Energy Partners and the European Bank for Reconstruction and Development (BERD) announced on Friday they signed with Transgaz a 15 years contract for the transport of natural gas produced in the Midia Project (MGD). The contract  was signed by the general manager of Transgaz Ion Sterian and the general manager of BSOG Mark Beacom.. The ...

‘Price and accessibility’ to drive Romania’s energy agenda at EU helm

Thursday, November 8, 2018

Romania intends to push “price and accessibility” of energy as the guiding principles of its EU Presidency next year – whether it relates to the EU’s 2050 climate goals, the expansion of nuclear power, new gas pipeline projects, or even coal, euractiv.com reads. Romania will take the EU mantle from Austria for six months on 1 January, in a political environment constrained by Brexit and the May 2019 European ...

Romgaz will concentrate in the following period on the identification of the onshore ores and  energy diversification

Thursday, November 8, 2018

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Romgaz consolidates its position not only at local level but at regional level as well,and will concentrate on two major objectives: the identification of onshore ores which should replace the present exploitations and energy diversification,stated on Monday the general manager of Romgaz Adrian Volintiru during the ‘The Day of Energy in Europe’ event organised by the European Commission in Brussels.According to a press release of the company, the head ...

Oil companies involved in Black Sea explorations criticize Offshore Law

Thursday, November 8, 2018

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The law voted by the Chamber of Deputies on October 24 affects the principle of stability, provides new taxes and sets conditions to the companies regarding the way they would sell the output, the Romanian Association of Offshore Concessionaires in the Black Sea (ARCOMN) argues. The oil companies say that, during the past two years, ARCOMN has attended consultations with the state institutions, all relevant ministries, agencies and competent national ...

Estimated energy consumption for winter of 2018-2019, higher by 2 percent

Thursday, November 8, 2018

The estimated energy consumption for the winter of 2018-2019 will be higher by 2 percent as opposed to the previous period (2017-2018), and this is the starting point for the setting up of this year's winter Program, Secretary of State with the Ministry of Energy Doru Visan told a press conference on energy topics, on Monday."The preparation of Romania's Winter Program represents a necessity and has always had positive results. We are among the last countries with ...

The electricity grid of the country needs investments between 10 and 30 billion euro for modernisation and extension

Thursday, November 8, 2018

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The electricity distribution grid of Romania needs investments of 10 billion euro to be renewed and 30 billion euro for extension, stated Adrian Borotea,manager of Group Strategy in CEZ Romania, in a conference in the domain.According to him, with the help of the regulator, the distribution companies need to prioritize the invested sums, in accordance with the decision of the shareholders so that the quality of the service ...

Repsol exits Romania, OMV Petrom buys its stake in four concessions

Thursday, November 8, 2018

Spanish company Repsol, who owned shares in onshore exploration agreements with OMV Petrom, has made its exit from Romania after selling its shares to OMV Petrom, a transaction approved by The National Agency for Mineral Resources (ANRM). OMV Petrom became the sole concession holder and operator of the hydrocarbons exploration perimeter V Baicoi, VII Targoviste, XII Pitesti and XIII Targu Jiu. Repsol ...

Primary energy consumption up 2.5pct in 2017; energy products imports up 3.7pct, domestic consumption up 5.5pct

Thursday, November 8, 2018

 Primary energy production increased by 2.5 per cent in 2017 compared with 2016, while imports of energy products climbed 3.7 per cent and gross domestic energy consumption increased by 5.5 per cent, according to data published on Thursday by the National Institute of Statistics (INS).The final energy consumption recorded a growth of 4.3 per cent compared to 2016.The available energy resources increased in 2017 compared to 2016 by 1.178 billion ...

Row threatens to delay end to energy isolation of Cyprus, Crete

Thursday, November 8, 2018

A long-awaited EU project that could put an end to the energy isolation of Cyprus and the Greek island of Crete is under threat due to a dispute between the parties involved, euractiv.com reads. But the European Commission does not want to “point fingers” at anybody. The EuroAsia Interconnector is an EU Project of Common Interest (PCI) meant to create an “energy bridge” between Asia and Europe by connecting the Greek, Cypriot ...

‘Price and accessibility’ to drive Romania’s energy agenda at EU helm

Thursday, November 1, 2018

Romania intends to push “price and accessibility” of energy as the guiding principles of its EU Presidency next year – whether it relates to the EU’s 2050 climate goals, the expansion of nuclear power, new gas pipeline projects, or even coal, euractiv.com reads. Romania will take the EU mantle from Austria for six months on 1 January, in a political environment constrained by Brexit and the May 2019 European ...

ROMATOM, Organisation of Canadian Nuclear Industries extends memorandum on nuclear power co-operation

Thursday, November 1, 2018

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The Organisation of Canadian Nuclear Industries (OCNI) and the Romanian Atomic Forum (ROMATOM) have renewed their memorandum of understanding on nuclear power co-operation.According to a ROMATOM press statement released on Wednesday, the memorandum describes several ways in which OCNI and ROMATOM will continue to collaborate to identify opportunities for nuclear suppliers in Romania and Canada. The OCNI-ROMATOM memorandum will also encourage and facilitate ...

OMV Petrom, net profit of RON 2.67bn, up by 44% in nine months

Thursday, November 1, 2018

The OMV Petrom Group reports a net profit of RON 2.67 billion, up by 44% against the similar period in 2017, of RON 1.85 billion, romaniajournal.ro reports. According to preliminary financial unaudited results for the period concluded on September 20, 2018, released on Wednesday, the net profit in Q3 was of RON 1.38 billion, higher by 116% against the same period in 2017, of RON 639 million. “In the first nine months of ...

Petromidia, Vega refineries to undergo maintenance works

Thursday, November 1, 2018

Romania's Rompetrol Rafinare [BSE:RRC], a member of KMG International, said it will suspend until November 15 work at the Petromidia refinery and the petrochemical division for scheduled maintenance. During the same period, production at Vega refinery will be reduced, Rompetrol Rafinare said in a press release on Monday evening. "This scheduled technical maintenance is important for the maintenance of the refineries and of the ...

Wind Europe: Romania should opt for wind energy, which is cheapest

Thursday, November 1, 2018

 Romania should opt for the installation of new wind turbines in the future as additional power plants are needed and the wind source is cheaper than coal, natural gas or nuclear sources, Giles Dickson, CEO of Wind Europe told on Tuesday a profile conference organized in Bucharest.There is enough space in Romania for the installation of new wind turbines. First of all, it has to do with the geographic space. Secondly, the demand for energy is growing in ...

Engie: Petrom and Romgaz limit gas quantity on market, we are forced to import at higher price

Thursday, November 1, 2018

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The two Romanian gas producers, Petrom and Tomgaz, have limited the gas quantity delivered to the market, so the price has gone up and suppliers must import more gas from Russia, which is more expensive, the CEO of Engie Romania, Eric Stab, said on Tuesday.He explained that all of these will be reflected in the bills that are paid by the final consumers, which will have to be increased by the National Regulatory Authority for Energy (ANRE)."The price ...

Cernavoda’s Unit 1 to be shut down for two years

Thursday, November 1, 2018

Cernavoda’s Unit 1 will be shut down as of 2026 for upgrading works that will last two years. The revamping works will though extend the reactor’s service life for another 30 years. „As of 2026, Cernavoda’s Unit 1 will halt for the works. Until then, we are making all necessary preparations. We’ll conduct a feasibility study that will end in 2021 and after that we’ll proceed with buying the necessary equipment, ...

Another Black Sea investor postpones investment decision

Thursday, November 1, 2018

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Black Sea Oil&Gas, a company controlled by U.S. group Carlyle, which operates two offshore perimeters in the Romanian Black Sea, Midia and Pelican, won’t make a decision on continuing its investments this year, according to a press release quoted by ...

Energy Minister says Romania should become a natural gas hub

Thursday, November 1, 2018

Energy minister Anton Anton said that Romania should become a natural gas hub, as it is a producer and can even become the largest natural gas producer in the European Union, http://business-review.eu informs. ”If we extract the Black Sea gas, we will become the first gas producer in the European Union after Brexit. We have to make sure that we are a stability ...

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