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Energy & Environment

Lukoil and Romgaz prepare new drilling in Black Sea offshore Trident block

Thursday, August 23, 2018

Russia’s Lukoil and Romania’s Romgaz, partners in joint offshore operation in the Black Sea, prepare drilling for exploration well in estimated 30 billion cubic meters deposit Trident, according to Romgaz’s half year financial statement, http://business-review.eu informs. Lukoil owns 87.8 percent of the Trident Block, while Romgaz is the junior partner, with 12.2 percent. In 2015, Romgaz has announced that the ...

Vast Resources took over 24.4 pct. of a perimeter in golden quadrilateral close to Baia de Aries

Thursday, August 23, 2018

The British company Vast Resources took an indirect stake of 29.41 percent of the Geamana-Coltii Lazar perimeter, located near Baia de Arie? and Ro?ia Montan?, in the so-called ”golden quadrilateral” from the Apuseni Mountains, http://business-review.eu informs. Vast Resources, who already manages the polymetallic mines Manaila and Baita Plai, will control an 7,285 square kilometers. According to the ...

Romania’s crude oil production down 2.9 pct in H1 2018

Thursday, August 23, 2018

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Data from the National Institute of Statistics (INS) shows that Romania imported about 4.18 million tonnes of oil equivalent (tep) of crude oil in the first six months of 2018, a figure that is 26 percent higher compared to the same period of 2017. Crude oil production totalled 1.67 million tep, a 2.9 percent decrease from H1 2017. Growing dependency on imports can only be avoided on the medium and long term by encouraging exploitation and production activities and by ...

Romania’s coal production down 9.3 pct in H1 2018, imports up 24.8 pct

Thursday, August 23, 2018

Romania’s net coal production totaled 2.05 million tonnes of oil equivalent (toe) in the first six months of 2018, a 9.3 percent lower figure than the same period of 2017, according to data from the National Institute for Statistics. In the same period, Romania imported 225,300 tep coal, a 24.8 percent higher quantity compared to the first six months of last year. According to the Energy Strategy project published by the Energy ministry, Romania has total reserves ...

Transgaz commences 335 ml euro worth of BRUA works

Thursday, August 23, 2018

National gas transmission company Transgaz signed the contracts and gave the commencement order for works worth about 335 million euro pertaining to the construction of the Romanian sector of the BRUA gas pipeline, and has received 13.8 million euro in pre-financing from the European Commission, shows mid-year data released by the company.The largest contract, worth 126.9 million euro, is for pipelines and curved parts, and was signed on April 23, 2018 with the Turkish company ...

ENEL RANKS 28 IN FORTUNE’S 2018 “CHANGE THE WORLD” LIST

Thursday, August 23, 2018

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The Group is the only Italian company in the 2018 list of those companies that are “doing well by doing good” For the third year out of four since the list was established, Enel has been included in Fortune’s prestigious “Change the World” list, a ranking of the top businesses in the world making a positive social impact through activities that are an integral part of their business strategy and operations, the company ...

Putin and Merkel meet to find solution on gas pipeline Nord Stream 2

Thursday, August 23, 2018

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Russia and Germany are set to proceed with the completion of a second natural gas pipeline under the Baltic Sea between the two countries. EURACTIV’s media partner Clean Energy Wire reports. At a meeting with Russian President Putin near Berlin on Saturday (18 August), German Chancellor Merkel sought to ...

Friendship no more: How Russian gas is a problem for Germany

Thursday, August 23, 2018

For decades, the Friendship pipeline has delivered oil from Russia to Europe, heating German homes even in the darkest days of the Cold War. But the new Nord Stream 2 pipeline is becoming a problem for German Chancellor Angela Merkel, EURACTIV.com with Reuters informs. For US President Donald Trump, Nord Stream 2 is a ...

Reactors 3 and 4 at Cernavoda will cost 5 billion euro (document)

Thursday, August 16, 2018

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The construction of reactors 3 and 4 at Cernavoda is estimated at 5 billion euro and authorities are analysing what state aid they could grant investors, such as the possibility to sell energy outside the stock market, a document called “Reviewed strategy to continue Cernavoda units 3 and 5 project”, posted on Nuclearelectrica website. Since 2009 producers have to sell the whole energy obtained on the stock market, in a transparent and ...

Rompetrol Rafinare, increase by 27% of raw materials processed in the first half of 2018

Thursday, August 16, 2018

  * Consolidated Financial Statements of Rompetrol Rafinare include results of Rompetrol Rafinare S.A. and results of 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, member of KMG International, recorded in the first half of this year, an increase by more than 50% ...

OMV Petrom started production from the first multilateral well drilled in Romania

Thursday, August 16, 2018

OMV Petrom announced it has started production from a new offshore well LVO7, drilled in the Lebada Vest field, energynomics.ro informs. According the company, LVO7 is the first multilateral well drilled in Romania, a new technology that allows us to reach different target zones within a reservoir ...

Transgaz posts 30 pct profit drop due to lower revenues from internal & international gas transport

Thursday, August 16, 2018

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Romania’s monopoly gas transport system operator Transgaz had posted a 30 percent lower net profit for the first half of 2018 compared to the same period of 2017 as a result of its 11.5 percent lower revenues and a 3.61 percent increase in expenditures, according to Profit.ro quoted by http://business-review.eu. The company’s net profit was RON 279 million, while the turnover dropped by 14 percent, from RON 1 billion in H1 2017 to RON ...

Electrica, net profit of over 26 times higher in S1, as opposed to S1 2017

Thursday, August 16, 2018

Electrica group reported a consolidated net profit of 210 million lei, during the first semester of this year, raising over 26 times from the similar period of 2017, according to the financial data published on Tuesday by the company.The profit obtained for 6 months represents 83 percent of the consolidated budget net profit for 2018."It is remarkable to see the significant improvement of the financial results, recorded by the Electrica Group during ...

PRIMARY ENERGY RESOURCES, up 4.5pct in H1 2018

Thursday, August 16, 2018

- During 1.I.– 30.VI.2018, primary energy resources increased by 4.5%, while those of electricity decreased by 0.5% as compared to the same period of previous year. Romania's primary energy resources grew by 4.5 percent in the first six months of 2018, to 17,045 million tonnes of oil equivalent (toe), while electricity prices dropped by 0.5 percent from the same period last year, reaching 33.984 billion kWh, according to data released on ...

Rompetrol, a premiere for the city of Bacau – its first EV charging station

Thursday, August 16, 2018

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Rompetrol Downstream, the retail division of KMG International Group in Romania, inaugurates today a new Rompetrol station in Bacau, on Milcov Street no 5A, the company informs. This is the third unit in the city and it comes in addition to the other gas stations located on the European road E85, that connects Bucharest and Suceava (Stefan cel Mare Street no 66 and Republicii Street no 100). For the first time in the city of ...

ANRE approved standard products for natural gas trading on centralized markets

Thursday, August 16, 2018

The Regulatory Committee of ANRE approved the centralized list of natural gas standardized products to be traded on the centralized markets for the short, medium and long term, energynomics.ro informs. The ANRE ...

Hidroelectrica posts record RON 962 million net profit in H1 2018

Thursday, August 9, 2018

Hidroelectrica, a state-owned hydropower company, has posted a record profit in the first half of this year, due mainly to controlling costs, the company said on Tuesday quoted by http://business-review.eu. The company recorded a gross profit of RON 962 (around EUR 207 million), the largest in its history, up 34 percent from H1 2017. Hidroelectrica’s turnover grew by 17 percent year-on-year in ...

Eurostat: Romania reports lowest price per kilowatt hour of household gas in 2017

Thursday, August 9, 2018

In 2017, Romania recorded the lowest price per kilowatt hour of household gas among the EU member states, according to data released on Tuesday by the European Statistical Office (Eurostat).For the first time, Eurostat is publishing prices for electricity and natural gas that are fully comparable across countries. The prices for electricity and gas in the EU can vary according to a range of supply and demand conditions, including the geopolitical situation, the ...

Mol Group’s diesel sales up 2 percent in H1 2018

Thursday, August 9, 2018

Hungarian Mol retail sales were stable in Romania in the first half of 2018 compared to the same period in 2017, http://business-review.eu informs. Thus, retail sales of gasoline volumes slightly decreased by 1 percent, while diesel volumes increased approximately 2 percent, compared to the same period last year. EBITDA reached USD 1.3 billion after the ...

BSOG completes the two well exploration drilling program in the Black Sea

Thursday, August 9, 2018

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Black Sea Oil & Gas SRL (“BSOG”), together with its co-venture partners, announce the completion of a two well exploration drilling program in the XV Midia block, offshore Black Sea, romaniajournal.ro reads. The drilling campaign was initially scheduled to start in Q4 2017, subject to rig availability. BSOG used the drilling unit “GSP Saturn” for this campaign. GSP Saturn is a four-legged, self-elevating jack-up, with a ...

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