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Energy & Environment
Environmental taxes in the EU: countries compared în 2017
Thursday, February 14, 2019
Government revenues from environmental taxes amounted to €369 billion in 2017 in the European Union (EU), compared with €264 billion in 2002. Over the same period, the share of ...
PRIMARY ENERGY RESOURCES rise 2.3pct in 2018
Thursday, February 14, 2019
- In 2018, primary energy resources increased by 0.9%, while those of electricity stood at the same level as compared to previous year. End-consumption of electricity in 2018 was 55.881 billion kWh, by 2.3pct higher than in the previous year, with public lighting decreasing by 5.5pct and the consumption by the population declining by 11.2pct, according to data released on Tuesday by the National Institute of Statistics.Exports of electricity exceeded 5.478 ...
Black Sea Oil & Gas announces USD 400m investment in Midia block, expects removal of all new taxes and fees
Thursday, February 14, 2019
Black Sea Oil & Gas SRL (“BSOG”) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus International B.V. (“Gas Plus”) are pleased to announce that they have approved the Final Investment Decision (“FID”), to proceed with the $400 million Midia Gas Development Project (“MGD Project”), offshore Black Sea, romaniajournal.ro informs. FID has been taken in good faith and on the ...
Romanian refinery of KazMunayGaz reports record operations in 2018
Thursday, February 14, 2019
Romania’s biggest oil refinery, Petromidia, reported record operational results in 2018 when it processed 5.9 million tons of crude oil, 20% more than planned. The refinery is part of Rompetrol Rafinare, a Romanian oil company 54%-controlled by Kazakh state oil company KazMunayGas through KazMunayGas International (KMGI). The Romanian state also holds a minority stake (46%) in Rompetrol Rafinare. KMGI group reported a net profit of USD 86 million for last year. The ...
ANRE’S ORDER ON REGULATED ENERGY PRICES WILL LOWER STATE REVENUES, REDUCE INVESTMENTS AND DISTORT THE MARKET
Thursday, February 7, 2019
Fondul Proprietatea expresses serious concerns about the highly detrimental impact on energy companies, investments in the energy sector, Romania’s energy security, and ultimately on end consumers if the National Regulatory Authority for Energy’s (“ANRE”) Order regarding the approval of the Pricing Methodology (“the Order”) for electricity sold by the producers on the basis of regulated contracts is implemented, a company release ...
Romania keeps giving state aid to coal even as it holds EU presidency
Thursday, February 7, 2019
Romania is continuing to prop up its ailing coal sector, blatantly ignoring EU state aid rules, even as the country claims to be defending EU values while holding the rotating presidency of the bloc, writes Alexandru Mustata for euractiv.com. Alexandru Mustata is a campaigner in Romania for CEE Bankwatch, a network of grassroots, environmental groups in Central and Eastern Europe monitoring the activities of international financial ...
Net profit of over RON 4bn in 2018 for OMV Petrom. Investments down in 2019
Thursday, February 7, 2019
In Q4/18 OMV Petrom benefited from increased demand for electricity and fuels as well as higher commodity prices compared to Q4/17, while the refining margin continued the downward trend in Q4/18, a company release informes on Wednesday. “The full year 2018 Clean CCS Operating Result reached RON 4.8 bn, with Upstream contributing about two thirds. Upstream benefitted from better realized prices and lower OPEX, depreciation and exploration ...
OMV Petrom: Romanian legal environment does not provide the necessary premises for an investment decision in the Black Sea
Thursday, February 7, 2019
The current legislative environment in Romania does not provide the necessary premises for an investment decision in the Black Sea, in the context in which a number of tax and regulatory initiatives have been discussed and/or implemented in recent months, which increases legislative volatility and influences the entire business environment, OMV Petrom representatives say in a statement on Wednesday posted on the Bucharest Stock Exchange website, romaniajournal.ro ...
Transgaz to abandon BRUA II project unless bidders show up to contract capacity
Thursday, February 7, 2019
Romania’s natural gas transporter Transgaz informed that it wouldn’t start building the second phase of the BRUA pipeline unless sufficient bidders show up for contracting the new capacity, romania-insider.com informs. The second stage of the BRUA pipeline (Bulgaria-Romania-Hungary- Transgaz has relaunched the auction for the pipeline’s capacity after several companies that had won the previous tender in 2017 ...
ANRE: All energy producers will have to supply electricity to population with a regulated profit of 5 pct
Thursday, February 7, 2019
All energy producers will have to supply electricity to population for a regulated price to ensure them a 5 per cent profit of justified costs, according to Order No. 10/2019 of the National Regulatory Authority for Energy (ANRE), published in the Official Journal.ANRE kept the provision according to which Hidrolectrica and Nuclearelectrica must deliver up to 65 per cent of their output, under a regulated regime, but specified it won't happened this ...
Hidroelectrica reacts to ANRE decision on 5% regulated profit
Thursday, February 7, 2019
The order issued by the National Regulatory Authority for Energy (ANRE), published by the Official Gazette, reading that all energy producers will have to supply this year electricity at a regulated price with a 5% profit margin on justified costs, violates the constitutional liberties on economic freedom and violates the Constitution of Romania, Hidroelectrica says in a release on Tuesday. It also argues it violates the national legal framework and the European ...
Reuters: Black Sea Oil & Gas gets Romania gas project permit, but frets over new taxes
Thursday, February 7, 2019
Romanian-based Black Sea Oil & Gas received a construction permit from the country’s energy ministry on Friday for an offshore gas project, but it said new taxes could make it hard to go ahead with the development, Reuters correspondent informs. The company, controlled by private equity firm Carlyle Group LP, discovered two wells holding an estimated 10 billion cubic meters of gas in 2008 some 120 kilometers offshore in the Black ...
Energy Ministry OKs offshore gas production from XV Midia block in the Black Sea
Thursday, February 7, 2019
The Energy Ministry has issued the authorization document for the offshore works required to start the gas production from XV Midia block, operated by Black Sea Oil & Gas (BSOG), according to a communiqué issued by the ministry on Friday. “This act of authorization is extremely important, not only for the project’s owner, but also for the Romanian energy sector as a whole. The act is a premiere in Romania’s offshore oil ...
The price of gas on the free market increased by 25-30% against September
Thursday, January 31, 2019
The price of gas on the free market is higher at present by 25-30% against September but the household consumers can change their provider or they can go back to the regulated market 21 days since the notification of the energy company, stated on Tuesday Silvia Vlasceanu, executive manager of the Federation of the Association of the Companies for Utilities in Energy (ACUE).This after the Authority for Regulation announced that the household users can come back to ...
ANRE freezes energy and gas prices for household consumers on regulated market until 2022
Thursday, January 31, 2019
The National Authority for Energy Regulation (ANRE) informs on Tuesday that the energy and gas prices for household consumers on the regulated market will not increase until 2022, following the enforcement of the provisions of GEO 114/2018 on fiscal measures. The release informs that the periods will be for electricity March 1, 2019-July 28, 2022 and for natural gas January 1, 2019-February 28, 2022. With regard to the household ...
Romgaz expects lower revenues, profit due to capped gas prices in 2019
Thursday, January 31, 2019
Romgaz, one of the most profitable state-owned companies in Romania, expects lower revenues and profit this year due to the new measures introduced by the government, especially the capped gas prices, according to Romgaz CEO Adrian Volintiru. The company, listed at the Bucharest Stock Exchange (BSE), estimates a decline of its turnover by 20-25 percent this year compared with 2018 and a reduction of its profit by RON 420 million, Volintiru said, cited ...
Romgaz and SAPE intend to build a new gas and electricity supplier
Thursday, January 31, 2019
Romgaz, one of the two largest gas producers in Romania, will build a joint-stock company in association with the the Company for the Administration of Energy Stakes – SAPE, with the supply of natural gas and electricity as main activity, energynomics.ro reports. The decision was made at the beginning of the week by the Ordinary General Meeting of the Shareholders of Romgaz, according ...
Cernavoda nuclear power plant, high nuclear security level, WANO experts say
Thursday, January 31, 2019
A team of 25 international experts from the World Association of Nuclear Operators (WANO) assessed the Cernavoda nuclear power plant in November and concluded that the plant has a high level of nuclear safety, informs a press release of Nuclearelectrica, the plant operator, sent on Wednesday."Nuclear safety is the absolute priority of Nuclearelectrica. We are therefore determined to maintain a high level of nuclear safety in all areas: operation, maintenance, ...
US, S. Korean consortium bids to refurbish Romania’s nuke power capacities
Thursday, January 31, 2019
Korea Hydro & Nuclear Power (KHNP), South Korea’s largest electricity producer, has signed a partnership agreement with the US engineering services provider Sargent & Lundy to participate in the refurbishment of Romania’s operating nuclear reactors at the Cernavoda power ...
Government extends offshore agreements with ExxonMobil and OMV Petrom to 2045
Thursday, January 31, 2019
The Romanian government passed a Decision to extend to 2045 the agreement it has with ExxonMobil and OMV Petrom on the Neptun Deep natural gas perimeter in the Black Sea, Mediafax reports. The concession agreement for the exploration, development and exploitation of the XIX Neptun perimeter was initially approved in 2000 through a Government Decision and was originally valid until 2030. Wednesday’s act extended the agreement by another 15 ...