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Energy & Environment
Rompetrol Rafinare, increasing results in the jet fuel segment
Thursday, November 28, 2019
Rompetrol Rafinare, a member company of KMG International, has continued to constantly increase its production of Jet A1 - the special fuel for civil and military aviation. In the last 12 years, the volumes realized and delivered in Romania and in the region have tripled, from 95 thousand tons in 2007, to 317 thousand tons, last year. "The efficiency and optimization of the production generated by the reliable installations, together with the expertise ...
ExxonMobil looking to sell its 50 pct stake of Neptun Deep project in the Black Sea
Thursday, November 28, 2019
US giant Exxon Mobil is reportedly looking to sell its participation in the Neptun Deep project, which involves exploring and exploiting Black Sea gas, valuing this asset at USD 250 million, according to sources cited by Reuters. The company currently holds a 50 percent stake in the Neptun Deep project, while the remaining 50 percent is owned by OMV Petrom. So far, Exxon has invested over USD 750 million in the project. Exxon is ...
PGNiG among prospective bidders for Exxon’s Black Sea operations in RO
Thursday, November 28, 2019
Polish state-owned oil and gas group PGNiG is among the prospective bidders interested in US group ExxonMobil’s 50% stake in the Neptun Deep offshore perimeter, in Romania’s Black ...
ANRE: Domestic consumers must change energy consumption habits
Thursday, November 28, 2019
Achieving energy efficiency does not require huge investments in industry or in people's homes, but it can be achieved by changing the energy consumption habits and behavior of residential consumers, given that the planet is dying, the deputy chairman of the National Energy Regulatory Authority (ANRE), Zoltan Nagy-Bege, said on Thursday."The most important thing in the context of energy efficiency, especially in the case of domestic consumers, is the change of ...
Intraday electricity market in Romania, coupled to 20 other European countries
Thursday, November 28, 2019
The intraday energy market of Romania was coupled on Tuesday afternoon with the similar markets of twenty other European countries, and the first quantities of energy were already delivered last night, stated Victor Ionescu, the director of market operator OPCOM.The countries in question are Bulgaria, Hungary, Croatia, Czechia, Poland, Slovenia, Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Latvia, Lithuania, Norway, Sweden, the Netherlands, ...
Economy Minister: gas storage are full, with about 3 billion cubic meters in store
Thursday, November 21, 2019
The Minister of Economy, Energy and Business, Virgil Popescu said on Friday that gas storage are full, the stored amount of about 3 billion cubic meters, but the maximum that can be extracted is 28 million cubic meters daily, which can be a problem. The official noted, however it was good that enough gas is stored, but on the other hand, Depogaz should lay down a clear program of investment so as to increase extraction ...
Energy Minister: I would like Romgaz to take Exxon stake in the project in the Black Sea
Thursday, November 21, 2019
Romgaz should consider the opportunity to take stake of the ExxonMobil project Neptun Black Sea, where the Americans will withdraw, said on Friday the Minister of Economy, Energy and Business, Virgil Popescu, in a conference ."Obviously, if we had more gas, the price would be lower. We'll have a talk next week with Romgaz separately, to be more active on the market, more active in the Black Sea. As there rumors of withdrawal of Exxon I wish Romgaz ...
Energy Ministry wants revocation of Romgaz administrators
Thursday, November 21, 2019
The Ministry of Economy, Energy and Business Environment requests the summoning of Romgaz General Shareholders' Assembly to revoke members of the Administration Board and appoint new ones, according to a report sent to Bucharest Stock Exchange on Tuesday. The present provisional administrators are Manuela Stan Olteanu (chairperson), Niculaw Havrilet, Romeo Cristian Ciobanu, Caius Mihai Parpala, Tudorel Harabor, Nicolae Campeanu and Petrus ...
Nicolae Turdean appointed as President of National Agency for Mineral Resources
Thursday, November 21, 2019
Nicolae Turdean has been appointed as President, in rank of state secretary, of the National Agency for Mineral Resources (ANRM), through a decision of Prime Minister Ludovic Orban, published in the Official Journal of Romania on Friday.Furthermore, the PM also ordered, through another decision, the release from office of ANRM President Gigi Dragomir. Both decisions were made Thursday, 14 ...
Nuclearelectrica net profit up 29.6pct after first nine months of 2019
Thursday, November 21, 2019
The National Company Nuclearelectrica SA (SNN) posted a profit which increased by 29.6 percent after the first nine months of this year, with the net result reaching 415.946 million lei, according to a release of the company."In the nine months period which concluded on 30 September 2019, the SNN obtained a net profit worth 415,946 thousand lei, increasing by 29.6 percent compared to the similar period of last year. The earnings before interest and taxes (EBIT) ...
E-DISTRIBU?IE MUNTENIA INVESTS 66 MILLION LEI IN THE HIGH VOLTAGE NETWORKS IN 2019
Thursday, November 21, 2019
E-Distributie Muntenia is undergoing by the end of the year investments projects worth 66 million lei in the high voltage networks in Bucharest, Ilfov and Giurgiu counties, in order to improve the quality of the electricity distribution service and the security of supply for over 405,000 customers, the company said în a statement sent to ACTMedia. Over 29 million lei are scheduled for the modernisation of the high voltage (110 kV) power lines. ...
Rompetrol Rafinare, gross turnover of nearly 4 billion dollars and record operational results in the first nine months of 2019
Thursday, November 21, 2019
Rompetrol Rafinare, member company of KMG International, recorded a gross turnover of over 3.9 billion USD in the first 9 months of 2019, down 6% compared to the same period last year. This was mainly influenced by the lower market shares of petroleum products compared to those recorded in the same period last year. Consolidated operational profit (EBITDA) exceeded 100 million USD, and the consolidated net result recorded a loss of 26.9 million USD, ...
Fondul Proprietatea wants to squeeze extra dividends from RO energy companies
Thursday, November 21, 2019
The largest Romanian investment fund Fondul Proprietatea wants more cash from state-owned ...
Romania joins European intraday electricity market coupling
Thursday, November 21, 2019
Romania’s intraday electricity market will be coupled to those in another 20 countries of the European Union, which will reduce the need for deliveries under the balancing (short-term) mechanism that are particularly costly as they require capacities otherwise not ...
Major Romanian solar plant changes owner following deal between Chinese firms
Thursday, November 21, 2019
One of the largest photovoltaic parks in Romania, with an installed capacity of 55MW, will change its owner after a deal between two Chinese ...
Stephen Birrell is the new president of ROPEPCA
Thursday, November 21, 2019
Stephen Birrell, CEO of Fora Oil and Gas, is the new elected president of the Romanian Petroleum Exploration and Production Companies Association – ROPEPCA, following the annual elections held within the association. The newly elected Managing Committee is also formed by: Saniya Melnicenco (NIS Petrol), Amos Sanders (HOCOR), Rafael ...
Market liberalization should be done as urgently as possible
Thursday, November 21, 2019
Hidroelectrica’s reserve for this winter in lakes exceeds 71% and is higher than in 2018, says Bogdan Badea, president of the Hidroelectrica’s directorate. Thus, 2.25 TWh reserves will be insured during the winter, compared to 1.97 TWh last year. He argues that the market needs to be liberalized as soon as possible, otherwise some players will take benefit. “Hidroelectrica sells cheap energy, at 255 lei per MWh. If we would take all ...
Isarescu: Monitoring and comparing food and fuel prices will increase competition
Thursday, November 21, 2019
The decision of the Competition Council to allow the monitoring and comparison of food and fuel prices, through the Price Monitor, will accentuate the competition, according to Mugur Isarescu, the governor of the National Bank of Romania (BNR). “The Competition Council has taken a series of very correct measures. Improving the level of transparency at the consumer level, such as the Monitoring of prices for food and fuel. Transparency in the ...
Electricity resources decline 3.9%, Jan.-Sept., 2019
Thursday, November 14, 2019
During 1.I – 30.IX.2019, primary energy resources increased by 2.7%, while those of electricity decreased with 3.9% as compared to the same period of previous year. Romania's primary energy resources increased by 2.7% between January 1 - September 30, 2019 against the same period of 2018, while electricity resources decreased by 3.9%, according to provisional data released on Wednesday by the National Institute ...
Gas transporters in Romania, Moldova and Ukraine meet Gazprom representatives over 3-year gas transit plans
Thursday, November 14, 2019
Representatives of gas transporters in Romania, the Republic of Moldova and Ukraine are repeatedly meeting Gazprom officials in the Romanian town of Isaccea on Tuesday, sources have told HotNews.ro. They depicted the meeting as a key one as question are raised about Russian gas transit to Europe via Ukraine.Representatives of Transgaz (Romania, Moldovatransgaz (Republic of Moldova) and Ukrtransgaz (Ukraine) are reportedly due to discuss a 3-year transit deal ...