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Energy & Environment

Energy Ministry, CGN ink agreement for Cernavoda reactors 3,4 construction to start in 2-3 years

Thursday, May 9, 2019

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Officials with the Ministry of Energy of Romania's Government and of the Chinese CGN company on Wednesday inked the investors' agreement for the project of the reactors 3 and 4 of Cernavoda nuclear plant, southeastern Romania, which will allow the establishment of a project company and the actual kick off of construction in the next two-three years, Energy Minister Anton Anton said."In my opinion, it is a very important day. What has been signed here under our ...

Transgaz, Black Sea Oil & Gas sign Memorandum for Midia Project

Thursday, May 9, 2019

SNTGN Transgaz SA and Black Sea oil & GAS have signed a Memorandum of Understanding to use and develop the natural gas transmission network for the Midia Gas Development Project (the MGD Project), according to a press release of the company."On May 6, 2019, at the headquarters of its representatives office in Bucharest, SNTGN Transgaz signed with Black Sea Oil & Gas (BSOG) a Memorandum of Understanding to use and develop the natural gas transmission ...

ANRE: Romania imported 55 pct more gas in January, for 37 per cent higher price

Thursday, May 9, 2019

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Romania imported by 4.2 million MWh more gas in January 2019, by 55 per cent more, respectively, compared with the same month a year before, for a 37 per cent higher price, according to a report of the National Energy Regulatory Authority (ANRE).In January 2018, current imports accounted for 2.7 million MWh, according to the same document.The price was by 37 per cent higher. Thus, in January 2018, the imported gas cost 91.02 lei per MWh, while in the ...

OMV Petrom has not made a decision on Black Sea investments, main obstacle – the legal framework

Thursday, May 9, 2019

The current legal framework does not offer the needed premises for an investment decision worth billions in the Neptun Deep block, Petrom informs in the report on the first quarter. “We are still willing to see the Black Sea deposits developed and we will continue the dialogue with the authorities in order to understand the steps ahead,” the company says. At the end of March 2019, the Government approved Emergency ...

Romania increases its reliance on Gazprom as Russian gas imports rose by 55 pct in January

Thursday, May 9, 2019

Romania increases its reliance on Russian gas as imports from Gazprom rose by 55 percent during the first month of this year at much higher prices, official data show. According to Romanian energy regulator (ANRE), gas imports from Russia rose by 55 percent in January compared to January 2018, up to 4.2 million MWh, while the average price rose by 37 percent to RON 124.1 per MWh. Romania’s ...

OMV Petrom Group’s sales up 11 pct in Q1 2019 to RON 5.4 billion

Thursday, May 9, 2019

Consolidated sales of OMV Petrom Group in the first quarter were up 11 percent over the same period of 2018 to RON 5.4 billion, while net profit stood at RON 1.15 billion, up 35 percent over the reference period. According to the data reported by the company, the value of consolidated sales reported in Q1 in 2019 was supported by higher market prices in local currency and higher volumes of sales of electricity and petroleum products, partly ...

MOL Group announces a global profit before tax of USD 500 mln. and rising diesel sales in Romania

Thursday, May 9, 2019

Mol posted an EBITDA of over USD 500 million in the first quarter of 2019, the company said. In Romania, retail diesel sales of MOL Group increased by 2.5% compared to the same period of last year, from 121 kt in Q1 2018, to 124kt in the first three months of this year. Gasoline sales had a slight decrease in volume, reaching 35kt, compared to 36kt in the first quarter of last year. Global Upstream EBITDA remained flat ...

BR INTERVIEW: Romgaz in talks with two big players about Black Sea offshore gas

Thursday, May 2, 2019

Romgaz, one of the most profitable state-owned companies in Romania, is in talks with two large players about exploration and exploitation projects in Black Sea offshore gas, the company’s CEO, Constantin Volintiru, told Business Review in an interview. What are Romgaz’s main objectives for the coming years? Romgaz has expanded its development strategy for the next few years, with the main priorities ...

CE Oltenia forecasts revenues of RON 3.913 billion

Thursday, May 2, 2019

The Oltenia Energetic Complex (CE Oltenia) has budgeted revenues of RON 3.913 billion in 2019 and expenses of RON 3.912 billion, resulting in a gross profit of RON 1 million, according to the draft budget of revenues and expenditures, published by the Ministry of Energy. The profit tax will be zero, so the net profit will be as much as one million lei, according to the cited document, quoted by Agerpres. CE Oltenia will also ...

Energy expert: Before extending gas networks, we must first see if people can foot the bill

Thursday, May 2, 2019

The extension of gas networks should not be driven by electoral reasons and before taking the pipeline to the people's gates, the authorities must make sure that they can afford footing the bill, executive director of the Federation of Energy Utilities Associations (ACUE) Silvia Vlasceanu told a specialist conference."I am afraid that these extension works are just for the sake of extending, because there are mayoral and parliament elections ahead and so on, watch ...

Serinus Energy announces start of gas production in Romania

Thursday, May 2, 2019

Serinus Energy plc has announced on Friday that production has commenced at the Moftinu Gas Plant in Romania. Gas from the Moftinu 1003 production well has been flowed through the gas plant into the sales gas pipeline. The processed gas meets the water dew point and hydrocarbon dew point specifications set by the Romanian National Gas Transportation Company, Transgaz. The  Company  will  follow  a  conventional start-up program  whereby ...

OMV, ExxonMobil temporarily dismantle teams assigned to Black Sea gas project due to legislative uncertainty

Thursday, May 2, 2019

OMV and ExxonMobil teams working on gas exploration and exploitation in the Black Sea have been temporarily dismantled due to the legislative uncertainty in Romania, according to reporting by ProTV. The frequent and sudden legislative changes enacted by Romanian authorities have endangered the ...

Zero-emission EU industry ‘within reach’ but costly, study says

Thursday, May 2, 2019

Bringing down emissions from heavy industry to net-zero by 2050 is possible but will require costly new production processes and a 25-60% increase in near-term capital investments to reach €40-50 billion per year, according to new research published on 25 April quoted by euractiv.com. Achieving net-zero emissions for European energy-intensive industries is “within reach” but time is running out, with 2050 only one investment ...

Romgaz will supply 50% of the gas production at capped price and OMV Petrom -35%

Thursday, April 25, 2019

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The National Authority for  Regulation in Energy (ANRE) established the quantities of gas which have to be supplied by the producers at capped ;price of 68 lei/MWh to household consumers and thermo power units which deliver thermal agent to the population between 1 May 2019 and 31 March 2020.Thus, according to the decision ANRE, Romgaz will deliver at a regulated price of 24.2TWh ouf of which 16 TWh to the population and 8.,2 TWh to CETs.At the ...

ANRM: between 2008-2017 the state lost 3 billion dollars due to the lack of updating the price of natural gas

Thursday, April 25, 2019

The maintenance of the key price for natural gas by the National Agency for Mineral Resources (ANRM) at a level which was not updated for a period of 10 years, between 2008 and 2017 led to losses in the state budget worth 3 billion dollars, stated on Thursday DorinUrsarescu, the adviser of the ANRM chairman.‘In October 2017, when the new leadership of ANRM took over the position, we noticed things which were very serious. The first thing was the fact that ...

The minister of energy: Closing down the non-competitive mines is a programme assumed by Romania

Thursday, April 25, 2019

Closing down the non-competitive mines is a programme assumed by Romania eight years ago and aims at the mines which raise important issues for the environment and  economic efficiency, consider the representatives of the ministry of energy (ME).‘Closing down the non-competitive mines in Romania is a programme assumed by our country eight years ago, namely in 2011 and altered by the Ciolos cabinet (2016)through the inclusion of two new mines on the list ...

OMV Petrom, investments of RON 4.17 billion in 2019

Thursday, April 25, 2019

OMV Petrom shareholders approved an investment budget of RON 4.17 billion for 2019, from which a large part will go to the upstream segment. “The Ordinary General Meeting of Shareholders approved OMV Petrom SA’s budget for 2019. It is estimated that the investments in 2019 will reach approximately RON 4.17 billion. Most of the allocated amount of about RON 3.42 billion, 82 percent of the upstream investment will partially offset the natural ...

Nuclearelectrica approved dividends of RON 378.9 million from 2018 financial results

Thursday, April 25, 2019

Nuclearelectrica shareholders approved the distribution of dividends totaling RON 378.9 million, the gross dividend per share being RON 1.2567, according to a press release sent to the Bucharest Stock Exchange (BVB). The gross dividend value is RON 378.914 million and the gross dividend per share is RON 1,25670615, with the dividend payment date of June 28, 2019. However, the shareholders rejected the proposal to distribute the amount of RON 438.625 ...

Construction site of BRHA gas pipeline, blocked by archaeological find

Thursday, April 25, 2019

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Works on the Bulgaria-Romania-Hungary-Austria (BRHA) pipeline that will supply the four countries with the Black Sea gas risk being blocked in Gorj county, Romania, where several archaeological sites have been uncovered. Transgaz, the operator of the national natural gas transmission system in Romania, announced ...

Energy Complex Oltenia signs financing contracts for RON 500 million with 6 banks

Thursday, April 25, 2019

The Energy Complex Oltenia signed financing contracts with six banks for loans totaling RON 500 million, necessary for the payment of the pollutant emission certificates, said Sorin Boza, president of the company’s Directorate at the Energy Forum. “We signed the contracts on Friday, and I think it’s a success because the process was very difficult due to the fact that we negotiated with each of the six banks. Funding applications have ...

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