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Energy & Environment

Transelectrica plans EUR 365 mln investments by 2020

Thursday, March 8, 2018

 Romania’s state-owned power grid operator Transelectrica plans to invest RON 1.7 billion (EUR 365 million) by 2020, most of the money coming from the company’s own sources, romania-insider.com informs. This year, the investments will amount to EUR 90.5 million. The level will increase to EUR 137 million in 2019 and EUR 141 million in 2020. The company will invest in ...

MOL Romania’s LPG terminal in Tileagd, fully operational

Thursday, March 8, 2018

MOL Romania, the local branch of Hungarian MOL Group, completed the construction the LPG (liquefied petroleum gas) terminal in Tileagd, Bihor County, a press release informs, quoted by romaniajournal.ro. The investment in this construction exceeds EUR 2.3 million. The terminal which is fully operational, has 4 tanks with a total capacity of 600 cubic meters, four discharge / charge pumps connected to two compressors – designed for an annual ...

Daniela Lulache, former head of the Nuclearelectrica, nominated at the leadership of the Agency for Nuclear Energy of OECD

Thursday, March 8, 2018

Daniela Lulache, former general manager of the producer of energy Nuclearelectrica was nominated Head of policy and coordination at the Agency for Nuclear Energy of the Organisation for Economic Cooperation and Development (OECD). She said for News.ro that she has just taken this position, following a process of recruitment, without giving other details. Daniela Lulache was born on 25 August 1967 and she is an economist, ...

ANRE fines Petrom, Transgaz, E.ON, Engie for imbalances in the gas market; companies will challenge the fine

Thursday, March 8, 2018

The National Regulatory Authority for Energy (ANRE) has fined Transgaz, E.ON, Engie and OMV Petrom for imbalances in the national gas transmission system last week, HotNews.ro informs, quoting Agerpres, romaniajournal.ro reads. At the same time, ANRE also carried out a control on Monday at natural gas producer and supplier Romgaz. According to market information, the ANRE investigation will be extended in the next period to ...

Hidroelectrica’s gross profit in 2017, the largest in company’s history

Thursday, March 8, 2018

Hidroelectrica, Romania’s largest energy producer, recorded a gross profit of RON 1.6 billion last year, the best in the company’s history, romaniajournal.ro informs. The power output reached 14 TWh, compared to 14.5 TWh forecasted. According to Bogdan Badea, general manager of Hidroelectrica, 2017 was a year below the hydrological multi-annual average According to him, during the first semester the company made only ...

Fresh EU analysis makes case for higher renewables, energy saving goals

Thursday, March 8, 2018

A new analysis by the European Commission’s energy directorate, seen by EURACTIV, updates existing scenarios for renewables and energy efficiency, taking into account the rapidly falling costs of solar and wind power, euractiv.com informs. The Commission “non-paper” – EU jargon to mean it’s not official – is an update of the analysis presented in November 2016 when the EU executive tabled its ‘Clean Energy for ...

CE Oltenia estimates profits of over 44 million lei in January

Thursday, March 8, 2018

The Oltenia Energy Complex estimates for January a profit of more than 44 million lei, after a profit of approximately 200 million lei last year, says a statement posted on the company’s website, energynomics.ro informs. The company responds to the statements made by Nicoleta Munteanu, a partner of Euro Insol insolvency house, who said on Wednesday that “in the next period we will see even very large companies of ...

Nuclearelectrica plans investments of RON 1.8 bn by 2020

Thursday, March 8, 2018

Romanian state nuclear power producer Nuclearelectrica (SNN), which operates the Cernavoda nuclear power plant, has planned investments of RON 1.8 billion by 2020 from its own sources, of which the investment budget for this year stands at RON 515.25 million, according to the documents approved by shareholders and published on the company’s website, romaniajournal.ro reads. The investments planned for next year amount to RON 642.3 million, while ...

Transgaz gets 60 million euros from EBRD for regional gas pipleine

Thursday, March 1, 2018

The European Bank for Reconstruction and Development (EBRD) is providing a RON 278 million (60-million euro) loan for the construction of a new gas pipeline between Romania, Bulgaria, Hungary and Austria (BRUA) in a boost to the development of regional European energy markets, according to a press statement released by EBRD on Friday.The EBRD funds will be extended to Romania's Transgaz which is building the Romanian section of the pipeline.With a total length of 1,318 km, ...

Romania to ask EC to extend deadline for making thermal power plants environmentally compliant

Thursday, March 1, 2018

Romania will ask the European Commission to extend from 2021 to 2024 the deadline for its coal-firing thermal power plants to become compliant with the European environmental requirements, state secretary with the Ministry of Energy Doru Visan said Thursday."The European Commission has adopted the new Best Available Techniques (BATs), which are much more restrictive. According to the new requirements, it is necessary to have a set of technical and investment measures. Technical ...

Gas consumption surges in Romania due to low temperatures

Thursday, March 1, 2018

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Natural gas consumption surged in Romania in the last couple of days due to low temperatures across the country, Transgaz real-time data published Wednesday that natural gas transportation system is close to the risk limit, business-review.eu informs. Line Pack index, indicating the volume of natural gas being in the national system at a certain time, was 34,3 billion cubic meters at 1.00 PM, just above the risk limit of 33 billion cm. The volume decreased rapidly in the last ...

Black Sea gas and international expansion are the answers for the future of OMV Petrom

Thursday, March 1, 2018

Over the past 12 years, the company has invested over 13 billion euros, said Mariana Gheorghe, CEO of OMV Petrom, in the press conference for the presentation of the preliminary financial results in 2017, energynomics.ro reads. These investments allow the main oil company in Romania to announce that it detains proven reserves of hydrocarbons for 10 more years, a time horizon similar to the one calculated in 2004, the year of privatization. “This is the ...

Transgaz takes the first step abroad, acquiring a gas grid operator in Moldova

Thursday, March 1, 2018

Romanian gas grid operator Transgaz, a state-owned monopoly, won the bid for the purchase of Moldova’s Vestmoldtransgaz, company operating the Moldovan section of the Ia?i-Ungheni gas pipeline, Moldova’s prime minister Pavel Filip announced Tuesday, business-review.eu reports. The successful bid marks the first step toward internationalization of Transgaz, company which will operate in Moldova through its local branch, EuroTransgaz. After ...

EU’s carbon market update clears final hurdle

Thursday, March 1, 2018

The Council of the EU has given the final stamp of approval to an update to the European Union’s Emissions Trading System (ETS), which hopes to help the bloc cut emissions by 40% by 2030, euractiv.com reads. Member states signed off on Tuesday morning (27 February) on a reform deal for the ETS that will govern the 2021-2030 period, after MEPs gave their approval earlier this month. The ETS is the bloc’s flagship emissions reduction tool and EU leaders hope tweaks ...

32 million euros in European funds for the rehabilitation of the heating network in Oradea

Thursday, March 1, 2018

Oradea City Hall will continue this year the rehabilitation program of the district heating network by replacing another 23 km of the main pipeline network and the modernization of the thermal power stations, project for which approximately 32 million euros is allocated, energynomics.ro informs. 95% of this funding is European funds, through the Large Infrastructure Operational Program (PMOI) 2014-2020, while the remaining 5% is the contribution of Oradea municipality. “From ...

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

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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 ...

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