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Energy & Environment
Wind energy: Production costs will increase. 10% of the energy produced in Romania comes from the wind energy
Thursday, November 22, 2018
Alongside other renewables, wind energy has experienced a strong growth since the mid-2000s across the world, spurred on by strong support from governments, its favorable cost-competitiveness ratios (compared to nuclear plants or coal facilities) and a less damaging environmental impact, argues a Coface study. In contrast to the solar panel industry, with wind energy China hasn’t been able to outperform Europe because Chinese turbine makers are ...
AmCham Romania : Private investment in electricity dramatically curtailed, next to zero
Thursday, November 22, 2018
Private investment in electricity generation is lacking, and this could endanger Romania's energy security, the representatives of AmCham Romania say in a press release."AmCham Romania is carefully following the evolution of the investment flows in the Romanian economy, a situation in which it draws attention upon the lack of private investment in one of the economy's main strategic pillars - the electricity generation. Basically, in the past years the private ...
EU’s Sefcovic: Real risk that ‘raw materials become the new oil’
Thursday, November 22, 2018
Europeans have to be “very vigilant” that today’s dependency on imported oil and gas is not replaced by dependency on lithium, cobalt, copper and other raw materials that industries need for the green transition, Maros Sefcovic told EURACTIV. “I really think that, when it comes to the issue of dependency, we could end up in a situation where raw materials become the new oil,” the European Commission vice-president warned ...
USD 4.1 billion gross turnover, up 44 percent, for Rompetrol Rafinare in the first 9 months
Thursday, November 22, 2018
Rompetrol Rafinare, a member company of KMG International, registered in the first nine months of the year an increase of over 44 percent in its gross turnover, to USD 4.1 billion, http://business-review.eu reports. This evolution was mainly influenced by the ascending trend of the international quotations for oil products. At the same time, the operational result – EBITDA ...
President Klaus Iohannis promulgated the Offshore law which regulates the exploitation of gas in the BlackSea
Thursday, November 15, 2018
President Klaus Iohannis promulgated on Monday the Offshore law which regulates the exploitation of gas in the Black Sea. According to the presidential administration, the president signed ‘the decree for the promulgation of the law regarding some measures necessary for the implementation of the oil operations by the owners of oil agreements which refer to offshore oil areas (PL-x33/19.02.2018)’. The law was passed ...
EC : Romania needs to recover around 60 million euros of incompatible aid from energy producer CE Hunedoara
Thursday, November 15, 2018
The European Commission has found that energy producer Complexul Energetic Hunedoara (CE Hunedoara) received around 60 million euros of incompatible state aid from Romania through four publicly financed loans, according to the European Commission Representation in Bucharest."Romania now needs to recover the illegal aid plus interest," reads a press statement released by the representation office on Thursday.Commissioner Margrethe Vestager, in charge of ...
Government taps Romgaz’s pockets for additional dividends of RON 501 million
Thursday, November 15, 2018
The European Commission forecast that the budget deficit recorded by Romania this year will be at 3.3 percent of GDP, from 2.9 percent in 2017, and go to 3.4 percent in 2019. Although the government says the deficit will stay under 3 percent this year, the fact that it is again looking for money in companies’ safes means that the numbers the CE is predicting are accurate. Romgaz, the biggest state-owned natural gas ...
Rompetrol Rafinare, operational result of USD 158 million and processed raw materials over 4.7 million tons in the first nine months of 2018
Thursday, November 15, 2018
Note: The consolidated financial statements of Rompetrol Rafinare include the results of Rompetrol Rafinare S.A. and the results of the subsidiaries Rompetrol Quality Control S.R.L., Rom Oil S.A., Rompetrol Downstream S.R.L., Rompetrol Logistics S.R.L. Rompetrol Gas S.R.L. and Rompetrol Petrochemicals S.R.L. Rompetrol Rafinare, a member company of KMG International, registered in the first nine months of the year an increase by over 44% of its ...
ENEL X ROMANIA ANNOUNCES LARGEST E-MOBILITY PLAN IN THE COUNTRY, AROUND 2,500 CHARGING POINTS, UP TO 20 MILLION EURO INVESTMENT
Thursday, November 15, 2018
· Enel X Romania was launched to offer new, innovative value-added solutions tailored to the needs of individuals, companies and municipalities in the country · The e-Mobility plan’s charging points will be installed, starting from 2019, in most Romanian regions, major cities and on main traffic routes, starting in Bucharest, Timi?oara and ...
CEZ schedules for 2019 similar investments to those in the last years
Thursday, November 15, 2018
Investment in the power distribution grid in Oltenia will stay at ambitious levels, said Adrian Borotea, Group Strategy and EU Agenda Division Director at CEZ Romania, at an event ...
Romgaz wants to build new power plant
Thursday, November 15, 2018
Romanian state-owned gas producer Romgaz has ordered a feasibility study for building a new gas power plant with an installed capacity of 400 to 500 MW. The investment in such a project would amount to some EUR 300 million, ...
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
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
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
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 ...