RSS
Energy & Environment
Analysis: Finding the right mix in Romania’s energy sector
Thursday, October 11, 2018
Romania’s energy sector has gone through several inflexion points in the past 20 years, marked by a wave of privatizations and attempts by the state to start new investment projects that have yet to materialize, Business Review reads. In the gas sector, the eyes of investors are fixed on the Black Sea, where discovered deposits could help the ...
Renewable electricity producers received 10.2 million green certificates in the first eight months
Thursday, October 11, 2018
Renewable electricity producers in Romania received a total of 10,266,855 green certificates in the first eight months of this year, according to data posted on the Transelectrica website quoted by http://business-review.eu. At the same time, green energy producers generated a total of 5,945,420 MWh, from 1 January to 31 August 2018. Most green certificates, namely 4.2 million, have entered the ...
Norway blocks OMV-Gazprom swap deal; Austrian group to buy Siberian assets from Russian giant
Thursday, October 11, 2018
Austrian energy group OMV, the owner of Romania’s largest oil & gas group OMV Petrom, said it had agreed to buy Siberian gas assets from Gazprom instead of swapping them for some of its own assets, giving in to opposition from Norway to the initial plans, according to Reuters quoted by http://business-review.eu Norway is Europe’s second-largest gas supplier after Russia. Under a deal agreed in late 2016, OMV ...
‘Disappointed’ EU capitals agree on 35% car CO2 cuts
Thursday, October 11, 2018
EU environment ministers took until nearly midnight on Tuesday (9 October) to agree on a common position for car and van CO2 emission cuts for 2030 but several member states were left “disappointed” with the final agreement, euractiv.com informs. In an attempt to tune-up the European Commission’s initial 30% emission cuts proposal, Austria’s EU Presidency tabled a 35% offering, which ultimately ended up being split into separate ...
OMV Petrom signs transfer accord for nine reserves to Mazarine Energy
Thursday, October 4, 2018
OMV Petrom, the largest energy company in South-Eastern Europe, concluded an accord for the transfer of licences for nine onshore crude and gas reserves in Romania to Mazarine energy Romania, a subsidiary controlled by Mazarine Energy BV. The accord includes the transfer of drills and infrastructure and 100 employees to Mazarine Energy. The nine reserves, located in the Moinesti Zemes area, with a cumulated production of crude and gas of 1,000 bep/day, ...
PSD’s changes to Offshore Law reverted to specialized committees of the Chamber of Deputies
Thursday, October 4, 2018
The Social Democratic Party (PSD) was defeated in its attempt to amend the Offshore Law and did not receive the final vote from the Chamber of ...
Transgaz to receive 46-million-euro grant to develop National Gas Transmission System
Thursday, October 4, 2018
Transgaz will receive a 46-million-euro grant from the Large Infrastructure Operational Programme for the development of the National Gas Transmission System's capabilities in the North-East area of Romania, Alexandru Macoveiciuc, spokesman for the Ministry of Economy, told a Friday's press conference."Transgaz will sign in the next period a contract to receive a 46 million euro grant from the Large Infrastructure Operational Programme for the development of ...
EDP Renewables installs energy storage system for wind farms in Cobadin
Thursday, October 4, 2018
Spanish EDP Renewables, one of the world’s largest wind power companies, has opened today a facility for wind energy storage based on Cobadin (constanta county) wind farm batteries in Romania, http://business-review.eu reports. The Storage Project, as this EDPR business has been called, is an essential technological development in energy storage. When there is excessive production, the system will charge ...
Iuga, Dudau: Developing the offshore gas sector is a historic opportunity for Romania
Thursday, October 4, 2018
The Black Sea could become a new North Sea in terms of oil and gas reserves, but for their exploitation, the fiscal framework needs to be balanced so that the state, society and companies can win, shows a study by experts Radu Dudau and Vasile Iuga at the request of the Federation of Oil and Gas Employers (FPPG), energynomics.ro informs. The development of the offshore gas sector is a historic opportunity for Romania, which can bring energy, economic and social security ...
The Joint Investment Fund by KazMunaiGas and the Romanian Government should be ready soon
Thursday, October 4, 2018
The Joint Investment Fund made by KazMunaiGas International (KMGI) and the Romanian Government should be set up soon, according to the state secretary in the Ministry of Energy Robert Tudorache quoted by http://business-review.eu. The fund was first announced in 2013 when the Memorandum of Understanding between KMGI and the Romanian state was signed. A delegation of officials from the Romanian Government and several representatives of Romanian energy ...
Romania joined the initiative to use hydrogen as energy source, a project of Austria
Thursday, September 27, 2018
The minister of energy Anton Anton signed for Romania ‘ the Initiative of Hydrogen’ which was launched by Austria and which means the development of research and innovation in the domain of technology of the use of hydrogen as a source of energy in the future, announced on Friday the minister. The technology of hydrogen use can be used in the domain of electricity storage, fuels in transport and industry, and through the signing of the ...
Ponta charges Liviu Dragnea of ‘high treason’ related to the offshore law
Thursday, September 27, 2018
Former social-democrat (PSD) leader, currently Pro Romania chairman, Victor Ponta, accused current social-democrat chair Liviu Dragnea of high treason, as the form of the offshore law adopted by the Senate on Monday will lead to losses of USD 10 billion in royalties and taxes for Romania, romaniajournal.ro reports. “What Dragnea is doing is high treason, however he will have lots of accomplices in the Chamber of Deputies when the vote comes, ...
Transelectrica joins TSCNET Services as 15th shareholder
Thursday, September 27, 2018
Romania's national power grid operator Translectrica anounces its affiliation as a shareholder of TSCNET Services, with its headquarters in Munchen, one of the Regional Security Coordinators (RSC) for the European network of energy transportation.According to a press release sent by the company on Monday, the Romanian operator and transport system is the 15th shareholder of TSCNET."As shareholder, Transelectrica can now get actively involved in further ...
European companies face taxes on fuel 18% higher than world average. Romania is above the global indicator
Thursday, September 27, 2018
European companies face taxes as a percentage of the price of fuel on average 18% higher than the world average, putting them at a serious disadvantage and potentially risking economic growth, shows a new study by UHY, the international accounting and consultancy network, romaniajournal.ro informs. UHY explains that on average taxes comprise 59% of the cost of the price of petrol and 52% of the cost of the price of diesel, compared to the global ...
Eurostat: Romania ranks 7th in EU according to share of renewable energy consumption in 2016
Thursday, September 27, 2018
Romania ranks 7th among the European Union member states in terms of the share of renewable energy sources in gross final consumption in 2016, according to data released on Friday by the EU's statistics office Eurostat.The highest share of renewable energy sources in gross final energy consumption in 2016 was recorded in Austria (72.6 percent), Sweden (64.9 percent), Portugal (54.1 percent), Denmark (53.7 percent), Latvia (61.3 percent), Croatia (46.7 percent) and ...
Hidroelectrica to spend EUR 800 mln by 2020 to upgrade and refurbish its power plants
Thursday, September 27, 2018
Hidroelectrica will have an investment budget of over EUR 800 million by 2020 to upgrade and refurbish the power plants currently in operation, according to the 2018-2030 Energy Strategy of Romania, http://business-review.eu informs. Also, the investments necessary for the completion by 2030 of the complex hydro-energetic facilities, optimized according to the current requirements, ...
Energy Ministry releases Romania’s energy strategy for 2018-2030 in view of 2050
Thursday, September 27, 2018
The Energy Ministry has posted on its website, on Thursday, the draft Energy Strategy of Romania for 2018-2030 in view of 2050, document to be approved by Government decision after receiving the environment opinion, ministry sources say quoted by romaniajournal.ro. Energy Minister, Anton Anton, said that “Romania’s development and increase of economy competitiveness, increase in quality of life and the protection of the environment ...
Richard L. Morningstar: The 3 Seas Initiative for a competitive gas market in CEE
Thursday, September 20, 2018
The current geopolitics of energy in the CEE region displays a spectacular clash of three or even four rival grand narratives, as a local reflection of a multipolar world. The Energy Union (EU), the 3 Seas Initiative (US), the Greater Powerness (Russia), and the One Belt, One Road Initiative (China). In order for decisions to be made, understanding these grand narratives is a critical prerequisite, not only for Romania, but for all states caught in between. energynomics.ro ...
ENEL GREEN POWER STARTS CONSTRUCTION OF NEW 100 MW WIND FARM IN MEXICO
Thursday, September 20, 2018
? Amistad II, located in Coahuila, is expected to start operation in 1H 2020 and, once fully operational, will be able to generate around 350 GWh annually ? The overall investment in the construction of the wind farm amounts to approx. 115 million US dollars. The Enel Group, through its renewable subsidiary Enel Green Power Mexico, has begun the ...
KMG International launches a scholarship program of USD 100,000
Thursday, September 20, 2018
KMG International launches the call for 100 scholarships for high-school and university students with high academic grades, from Bucharest, Constanta and Prahova, who aim at developing a career in the oil & gas industry. The applications can be submitted via the company’s website by October 15, ...