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Energy & Environment
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
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
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
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 ...
KazMunayGas, Romanian state set up Kazakh-Romanian Energy Investment Fund
Thursday, November 1, 2018
KazMunayGas International (KMGI) and the Energy Ministry have signed the partnership contract that sets up the Kazakh-Romanian Energy Investment Fund on Friday, KMGI informed. The fund has been established according to the Understanding memorandum between Romania and KMGI (former Rompetrol group). The Kazakh-Romanian investment fund expects an investment level of around USD 1 billion for 7 years. The KMGI contribution to the ...
OMV postpones to 2019 the decision to invest in offshore operations in the Black Sea, blames late adoption of Offshore Law
Thursday, November 1, 2018
OMV, one of the Black Sea oil blocks concessionaires, alongside ExxonMobil and Lukoil, has announced that it will decide whether or not to invest in offshore operations in the Black Sea in 2019. According to CEO Rainer Seele, the delay was caused by the late adoption of the Offshore Law. We cannot make the decision to invest in Petrom (part of the OMV Group) this quarter, as we have planned, Rainer Seele said, according to Reuters, quoted by ...
End of Romania’s offshore law saga: Parliament votes on final form
Thursday, November 1, 2018
Romanian lower chamber of the Parliament has voted on Wednesday the final form of offshore law following a consensus reached by the countries two main parties – ruling party PSD ( social-democrat) and main opposition party PNL (liberal party). The final form of the law freezes the royalties and ...
ButanGas registered an advance of 14% of business last year, to 40 million euros
Thursday, October 25, 2018
The ButanGas part of Veroniki Holding, announced on Monday that it has made an advance payment of 14% of the business last year,up to 40 million euros. ButanGas Spa is currently one of the main players in the Italian market and is part of Veroniki LPG Holding group led by President Daniela Veronica Gusa de Dragan. The company ButanGas Romania, based in Bucharest has four branches and two factories.The company ...
CE Oltenia coal deposits are approximately 900,000 tons
Thursday, October 25, 2018
The stocks of coal in the Oltenia Energy Complex (CEO) are currently about 900,000 tons, the adequate amount during winter, according to a company press release sent on Monday. However, the CEO stated that the figures presented represent the success of the company employees who managed to exceed targets, and the involvement of the Ministry of Energy in releasing regulations needed for energy production as part of the National Energy ...
Environmental protection expenditure accounted for 10.3 billion Ron at national level, namely 1.2 of the GDP
Thursday, October 25, 2018
-In 2017, the environmental protection expenditure at national level amounted to RON 10.3 billion, accounting for 1.2% of GDP -At national level, the highest environmental protection expenditure was recorded in waste sector, ...
ESCOROM proposes the conversion of coal-fired power plants as the central element of the national energy strategy
Thursday, October 25, 2018
The ESCOROM Association of Energy Services Companies in Romania launched in public debate a position paper proposing that the national strategy be based on the most serious energy security issue of the moment: about 3000 MW, mainly generation capacities based on coal (lignite) are expected to exit the system by 2025, energynomics.ro reads. Authors consider that none of the priority projects identified ...
Lucian Anghel: 5 ways companies can reduce their energy losses
Thursday, October 25, 2018
* Lucian Anghel is Founder and CEO, Timepal Romania and Facilities Management Services Energy losses are often unknown and unquantified in companies operating form many industry sectors. Even if managers know that they have energy losses in the company, some of them do not have a clear picture of the value of these losses, nor of the methods by which they can be reduced, energynomics.ro reads. In fact, depending on the ...
Bucharest Forum: Energy is a crucial part of regional security
Thursday, October 25, 2018
Career diplomats, military and analysts, as well as experts from the various fields of activity (energy, biotech, IT) discussed in Bucharest topics related to national and regional security at the seventh Bucharest Forum, organized by the Institute Aspen, energynomics.ro informs. Romania In a most complicated context, transatlantic relations, energy and environmental security, together with military mobility, were recurrent topics in all the ...