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Energy & Environment
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
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
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 ...
Gloria Offshore Oil Platform, drilling gas for 43 years, to be decommissioned on 1 May
Thursday, April 18, 2019
The Gloria Offshore Oil Platform, which has been drilling gas from the Black Sea since 1976, will close its activity on 1 May and will be decommissioned and scrapped, said on Wednesday Sorin Gal, Director General of the National Agency for Mineral Resources (ANRM) at the Energy Forum, organized by Financial Intelligence."The first [oil] explorations in the Black Sea began in the 70's. The drilling in the Istria perimeter, at the renowned Gloria oil rig started in ...
OMV Petrom opens new Polyfuel unit at Petrobrazi, producing gasoline and diesel
Thursday, April 18, 2019
OMV Petrom has opened the new Polyfuel unit within Petrobrazi refinery, using an innovative technology to convert LPG and low-grade light gasoline into high-value petroleum products – gasoline and diesel. This unit is the third of its kind worldwide and the first to convert low-grade light gasoline, as well, not just LPG. ”The new Polyfuel unit brings the state-of-the-art technologies used in the petrochemical and refining industry to the ...
EU Council approves stricter carbon dioxide emission standards for cars, vans
Thursday, April 18, 2019
The Council of the European Union approved stricter carbon dioxide emission standards for cars and vans on Monday, thus being closer to achieving its climate targets, the Ministry of Transport announced on Monday."The EU makes road transport cleaner by setting new strict carbon dioxide emissions standards for cars and light commercial vehicles. Thus, the EU will be closer to achieving its climate goals and ensuring that car makers contribute to efforts to reduce ...
BSOG receives Gov’t approval for the Field Development Plan for the Ana and Doina gas fields
Thursday, April 18, 2019
Black Sea Oil & Gas SRL (BSOG) together with its co-venture partners, Petro Ventures Resources SRL and Gas Plus International B.V. announce that, following the taking of FID on February 6, 2019, they have now received the approval from the Romanian Government through the National Agency for Mineral Resources (ANRM) for their Field Development Plan (FDP) for the development of the Ana and Doina natural gas fields which make up the Midia Gas Development Project (MGD ...
MOL Group to acquire Aurora, a recycled plastic compounder with production plants for the automotive industry
Thursday, April 18, 2019
MOL Group singed a sales-purchase agreement to acquire Aurora Group, a recycled plastic compounder with production plants located nearby automotive plants and plastics conversion clusters in Baden-Wurttemberg, Germany. The acquisition is in line with the company’s 2030 Strategy to extend petrochemical portfolio with higher value-added products. Aurora is a medium-size German company, headquartered in Neuenstein, with a unique and lean closed loop ...
PRIMARY ENERGY RESOURCES DURING 1.I.–28.II.2019
Thursday, April 18, 2019
During 1.I – 28.II.2019, primary energy resources increased by 0.5%, while those of electricity decreased by 6.0% as compared to the same period of previous year. The main primary energy resources during 1.I.-28.II.2019 amounted to 5866.7 thousand tonnes oil equivalent1 (toe), increasing with 26.7 thousand toe as against 1.I.-28.II.2018. Domestic production amounted to 3346.1 thousand toe, decreasing with 141.0 ...
Gazprom-owned company finds oil in Romania, aims to begin production later this year
Thursday, April 18, 2019
Nis Petrol Romania, a company indirectly owned by Russian giant Gazprom, has confirmed for e-nergia.ro that it has found oil in western Romania. Nis has already signed an agreement with Conpet to retrieve and deposit the oil for testing and will begin experimental ...
Government: state aids for closing down the non-competititve mines in the CE Hunedoara and Valea Jiului
Thursday, April 11, 2019
The government approved on this Wednesday the granting of state aids for the closing down of the non-competitive coal mines in the Complex Energetic Hunedoara and the Societatea Nationala de Inchideri Mine Valea Jiului SA announced on Wednesday the spokesperson of the government Nelu Barbu. ‘The government approved two government decisions, at the proposal of the ministry of energy, regarding the approval of granting state aids to ...
11 EU countries snub Romanian Presidency’s gas declaration
Thursday, April 11, 2019
The European Commission, backed by 11 EU member states, refused to sign a declaration on “sustainable and smart gas infrastructure” tabled by the Romanian Presidency earlier this week because the text wasn’t ambitious enough on climate change, EURACTIV.com has learned. The declaration was inked by 17 EU member states plus Norway, Switzerland and Lichtenstein, at the conclusion of a two-day informal meeting of EU energy ministers in ...
Total group supports 3 Romanian startups selected through national challenge
Thursday, April 11, 2019
The local subsidiary of the French energy group giant Total has selected 3 Romanian startups through a national competition and will support them financially. The jury of local experts selected the winners of the 2018-2019 Startupper of the Year by Total Challenge in Romania. The three winners of the Startupper of the Year by Total Challenge in Romania that were awarded in a dedicated ceremony held last month ...