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Energy & Environment
Romanian minister knows nothing about Exxon’s plans to pull out of Black Sea offshore project
Thursday, August 1, 2019
ExxonMobil hasn’t informed the Energy Ministry of any intention to withdraw from the Black Sea natural gas exploration project or bring another partner into the project, energy minister Anton Anton said on July 29, in a press conference. “Exxon’s [Romania Country Manager Richard] Tusker did not contact us. Exxon sent us documentation to approve them doing geo-studies and drilling for the ...
OMV Petrom planned for this year drilling of approximately 100 wells
Thursday, August 1, 2019
OMV Petrom (stock exchange symbol SNP), the biggest player on the electricity market of Romania planned for this year to drill approximately 100 new wells and estimates that the average price of oil Brent will be 65 dollars/barrel starting from 71dollars/barrel in 2018, shows the quarterly report sent on Wednesday to the BVB. The production of hydrocarbs at the level of the group droppedby 5.5% at 27,56 million bep due to the lower production both in ...
OMV Petrom anticipates roughly 840 ml euro worth of investments this year
Thursday, August 1, 2019
OMV Petrom expects its capital expenditures this year to be around 4 billion lei (roughly 840 million euro), with about 75 percent of this amount directed to the Upstream exploration and production sector; the company reported investments worth 1.7 billion lei in H1 2019, according to the financial results released on Wednesday by the Bucharest Stock Exchange.Last year, the company made investments worth 4.29 billion lei, up 44 percent compared to ...
Important investment at Vega Ploie?ti Refinery
Thursday, August 1, 2019
Rompetrol Rafinare, a member company of KMG International, will upgrade, in the near future, the central heating system from Vega refinery in Ploiesti, in order to increase energy efficiency and continue to reduce the impact of its activities on the environment. The investment effort for this project amounts to more than 1.9 million dollars and includes, among other things, the installation of a new steam-boiler, manufactured in line with the highest ...
Forecast: Romania will turn into net electricity importer soon
Thursday, August 1, 2019
The prices on Romania’s wholesale electricity market will rise above those in Hungary over the next decade, reversing a trend that has existed since 2014, when the spot markets of Romania, Hungary, Slovakia and the Czech Republic were coupled, according to a forecast by global consulting company ICIS, ...
ENEL ONLY ITALIAN COMPANY TO TAKE UP U.N. ZERO EMISSIONS COMMITMENT BY 2050 ON THE ROAD TO CLIMATE ACTION SUMMIT
Thursday, August 1, 2019
The company committed to pursue the goal of limiting the maximum global temperature increase to 1.5 degrees from pre-industrial levels and achieving zero emissions by 2050 The Group has joined the global initiative for a just transition and decent work Enel is the only Italian company to have taken up the new commitment to achieve zero climate-changing ...
The hydro energy production of Romania increased by 21.2% last year
Thursday, July 25, 2019
The production of hydro energy of Romania increased by 21.2% last year, as compared to 2017, getting to 4 million tons equivalent petrol (tep) according to a report made by the British company BP at world level. The biggest producer of hydro energy of the EU was Finland with 14.5 tep, more by 30.5% against the previous year. There follows Sweden with 14 tep (dropping by 4.7% ) and Italy with 10.4 tep ( up by 33%). At world ...
SWAZM has joined hands with Restart Energy to create the world’s first decentralized peer-to-peer energy marketplace - the RED Platform
Thursday, July 25, 2019
SWAZM has partnered with Restart Energy to create the RED Platform - a peer-to-peer system which utilizes cutting-edge blockchain and IoT technology in order to empower consumers to acquire and trade renewable energy cheaper, directly from producers. Restart Energy is moving towards democratising the global energy market with the RED Platform. RED will enable consumers to become prosumers powered by solar energy?, ?both increasing energy independence ...
ANRM launches auction for 28 oil & gas perimeters
Thursday, July 25, 2019
The Romanian mineral resources regulator (ANRM) has launched an auction for 28 oil & gas perimeters, a first for the last decade. Among the new perimeters, 22 are onshore and 6 offshore in the Black Sea. The decision was published on Wednesday in the Official Gazette. The companies interested in these projects (exploration and exploitation) should submit their offers in 120 days (4 months) following the date of the release ...
Saipem wins $160 mln offshore drilling contracts in Romania, Abu Dhabi
Thursday, July 25, 2019
Italian oil and gas industry contractor Saipem said it has been awarded new contracts in offshore drilling in Romania and Abu Dhabi worth over $160 million (142.6 million euro). According to one contract, the company will drill a well in Romania’s Black Sea waters, expectedly in the fourth quarter of 2019, Saipem said in a press release on Monday. Works will be executed by the semi-submersible rig Scarabeo 9, a drilling ...
HIDROELECTRICA WILL UNFAIRLY BEAR THE BURDEN OF THE REGULATED ENERGY MARKET, RISKING TO LOSE UP TO RON 1 BILLION
Thursday, July 25, 2019
Fondul Proprietatea warns of the dire consequences for Hidroelectrica’s profitability, and overall business performance, as a direct result of the implementation of ANRE Order no. 10/2019 (the “Order 10”) regarding the regulated energy prices and quantities for electricity sold by the producers on the basis of regulated contracts, issued by National Regulatory Authority for Energy (ANRE). According to Order 10, Hidroelectrica, the most profitable ...
Gas imports in May by 353 times higher than last year
Thursday, July 25, 2019
Romania imported 1,185,490 MWh of gas in May 2019, 353 times more than in the same month last year, according to data released by the National Regulatory Authority for Energy (ANRE),In May 2018, Romania imported only 3,353 MWh.This happened after the gas quantities imported in April 2019 were 100 times higher than in April 2018.At the same time, the average import price for gas in May 2019 stood at 89 lei per MWh, according to ANRE, by 12 ...
Coal production down 2.4 pct in five months, imports up by almost 50 pct
Thursday, July 25, 2019
The net coal production totalled 1.621 million tonnes of oil equivalent in January-May, in Romania, by 2.4 percent less (39,500 toe) than in the same period last year, according to data centralized by the National Institute of Statistics (INS).Romania imported 268,900 toe of net coal in the same interval, by 88,300 (48.9 per cent) more compared with January-May 2018.According to the Strategic Energy Project, published on the Website of the ...
Romgaz gas production up 6.1 percent in the first half of the year
Thursday, July 25, 2019
Romgaz recorded a total gas production of 17.43 million boe (oil barrels equivalent) in the first half of this year, 6.1 percent higher than in the similar period of 2018, according to preliminary data submitted to Bucharest Stock Exchange (BVB). The extracted methane gas accounted for 17.35 million boe (2.7 billion cubic meters), an increase of 2.3 percent over the first 6 months of 2018. The methane gas from domestic production delivered to third ...
Adrian Dumitriu (Nuclearelectrica): „Renewable energy sources will play a very important role in the future, but Romania’s energy mix cannot exclude nuclear energy”
Thursday, July 25, 2019
After years of robust growth for Romania’s energy sector, businesses in the industry are facing major challenges in 2019, mainly because of the substantial regulatory changes introduced recently, including a 2 percent tax on turnover, a cap on gas prices, and more. Industry leaders, professional organisations and members of regulatory institutions met at Business Review’s Energy in Focus conference to talk about the first effects the recent legislative ...
ANRE: over 1.1 million household consumers of electricity chose the competition market last year
Thursday, July 18, 2019
A number of 1,181,102 household consumers of electricity opted for the signing of the contracts on the competition market last y ear, according to the data of the National Authority for Regulation in Energy (ANRE). The total number of consumption places for the end clients supplied by FUI (the last instance supplier on the regulated market ) dropped by 11.84% in 2018 against 2017. This trend is determined, mostly, by the migration of ...
Romania and the Kingdom of Bahrain could develop partnership in oil and natural gas, petro-chemistry and electricity sector
Thursday, July 18, 2019
Romania and the Kingdom of Bahrain could develop partnerships in the domains of oil and natural gas, petro-chemistry and electricity, according to a press release of the Ministry for business environment, commerce and entrepreneurship ( MMACA). The state secretary of MMACA Paula Pirvanescu met with the subsecretary for international business in the ministry of foreign affairs of the Kingdom of Bahrain, Shaikh Abdullah bin ahmed al ...
BP: Romania ranked 13th in EU for renewable energy production in 2018
Thursday, July 18, 2019
Romania ranked 13th in EU for the production of energy from renewable sources, with 8.6 TWh, according to a report made by the British company BP at world level. The production of green energy in Romania was in 2018 by 11.8% lower than in 2017. Wind turbines generated 6.5 TWh, photovoltaic panels – 1.7 TWh, and other resources 0.5 TWh. In the European classification, Germany was leader for ...
Rompetrol Rafinare, a new stage in greening of the historical settling lagoons from Vega Refinery
Thursday, July 18, 2019
Rompetrol Rafinare announces the continuation of the program for remediation and greening of the historical lagoons of Vega Ploiesti Refinery and the transition to the most important stage - the neutralization and effective disposal of acid tar and oil residues. The deadline for completion is forecasted for 2022, the investment effort amounting to several tens of millions USD. “It is an important project for Rompetrol Rafinare and its majority ...
COFACE Study: Natural gas: an oscillation between boom and gloom
Thursday, July 18, 2019
* The natural gas market is booming and will increase in the medium term, but many factors point to a less promising future. Until recently, natural gas was acclaimed as the "cleanest" of fossil fuels and all indicators point to an increase in demand and production. However, the market is evolving rapidly, and renewable energy sources are progressively becoming popular and economically viable alternatives to fossil ...