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Energy & Environment
Rompetrol, a new filling station in Filiation
Thursday, November 29, 2018
Rompetrol Downstream – the retail division of the KMG International Group in Romania, has opened a new filling station under the Rompetrol Partener franchise in the town of Filia?i, Dolj county. The station was built and is operated by the company Azalis, which also holds 6 Rompetrol Partener units in the region. “Together with our partners, we continue to grow and offer our customers quality products and services. This is the 114th filling ...
Eurostat: Romania – highest increase of electricity prices
Thursday, November 29, 2018
In the first half of 2018, average household electricity prices in the European Union (EU) were stable compared with the first half of 2017, standing at €20 per 100 kWh. Average gas prices in the EU were also stable and stood at €6 per 100 kWh in the first half of 2018, Eurostat informs on Tuesday. Taxes and levies accounted for more than a third (37%) of the electricity bills charged to households in the EU in the first half of 2018. For gas ...
Black Sea Oil & Gas signs EPCIC contract for Midia project with GSP Offshore
Thursday, November 29, 2018
Black Sea Oil & Gas (BSOG), operator of the Black Sea Midia block, announced the signing of the framework contractor agreement with GSP Offshore, a company owned by businessman Gabriel Comanescu, BSOG said in a release last Friday.The scope of the contract covers engineering, procurement, construction, installation and commissioning services (EPCIC), as well as the drilling of the development wells for the implementation of the Midia Gas Development Project ...
Transelectrica estimates investment of 4.1bn lei in grid development by 2027
Thursday, November 29, 2018
Romania's National Power Grid Company Translectrica will propose to the shareholders, at the meeting on 20 December, the approval of the Plan for the development of the power transmission network for the period 2018 - 2027, the Shareholders' General Assembly informs on the company's website.The projects proposed during this period will require a total financing of approximately 4.1 billion lei, the company's documents show.This funding will be provided ...
New gas resources unearthed in Valcea County by OMV Petrom
Thursday, November 29, 2018
OMV Petrom unearthed new gas resources in the vicinity of the southern Valcea County's existing infrastructure, the crude oil rig, drilled nearby the Mamu well being due to start operations at the end of October with an initial amount of over 190,000 cubic meters/day (rd 1,100 barrels of oil equivalent/day), according to a release sent on last Thursday.The investment in drilling and for the connection of the Mamu 4317 well to the current infrastructure cost rd 10 ...
EU talks on car CO2 curbs risk stalling
Thursday, November 29, 2018
European Union negotiators are locked in talks about new rules meant to cut carbon emissions from light vehicles but the complexity of the proposed regulation threatens to bog down the negotiations. After the European Council brokered a late-night deal on CO2 rules for light vehicles in early October, national representatives met behind closed doors with Commission officials and MEPs in order to hash out a final ...
Deloitte: the Romanian energy system is not ready for transition
Thursday, November 22, 2018
Razvan Nicolescu, senior expert at Deloitte harshly criticized on Tuesday the situation of the Romanian energy system, which, he said in a conference, is affected by a lot of nonsense and is not ready to go in the future. "I tell you very candidly: Romania is absolutely unprepared for what follows,it is absolutely unprepared to manage the energy transition. In the last six months I talked to several ministers, prime ministers, heads of companies and know what ...
Black Sea Oil & Gas, ENGIE sign gas sales agreement for Midia offshore project
Thursday, November 22, 2018
Black Sea Oil & Gas SRL and its co-venture partners, Petro Ventures Resources SRL and Gas Plus International B.V. announced in a press statement the signing of the gas sales agreement with ENGIE through its subsidiary Engie Energy Management Romania S.R.L. for the supply of natural gas from the Midia Gas Development Project ('MGD Project').Under this agreement, which is subject to Final Investment Decision, ENGIE will purchase gas from the Ana and Doina gas ...
Over 6 M crude oil imported in first 9 months of 2018
Thursday, November 22, 2018
Romania imported in the first nine months of 2018 rd 6.138 million crude oil (toe), 554,000 toe (9.9pct) higher than the one imported in the similar period of 2017, the data released by the National Statistics Institute (INS) say.The crude oil production totalled in the above-mentioned period 2.526 million toe, down 1.9pct (48,400 toe) than the one in 2017.The official data estimate that the crude oil production will continue to slowly curtail by 2030 ...
Hidroelectrica Bogdan Badea: "Sly guys" from energy haven't vanised, they're still lurking at turning point
Thursday, November 22, 2018
The "sly guys" in energy who in the past were having huge profits with the cheap electricity from Hidroelectrica have not vanished, they are lurking at turning point and try to regain the lost privileges, the managing director of Hidroelectrica Bogdan Badea told Agerpres in an interview.Badea said that Hidroelectrica, the biggest energy producer of Romania is having tough battles on all fronts with the interest groups that are trying to blood-suck again the ...
Coal production declines 11.1pct in first nine months of 2018, imports advance 9.8pct
Thursday, November 22, 2018
Romania's net coal production in the first nine months of the year totalled 3.097 million tonnes of oil equivalent (toe), down 11.1 percent (386,100 toe) from the same period last year, according to data with the National Institute of Statistics (INS).In the reference period, Romania imported 428,700 toe of net coal, by 38,400 toe (9.8 percent) more than the imported coal in January - September 2017.Under the country's draft energy strategy ...
Wind energy: Production costs will increase. 10% of the energy produced in Romania comes from the wind energy
Thursday, November 22, 2018
Alongside other renewables, wind energy has experienced a strong growth since the mid-2000s across the world, spurred on by strong support from governments, its favorable cost-competitiveness ratios (compared to nuclear plants or coal facilities) and a less damaging environmental impact, argues a Coface study. In contrast to the solar panel industry, with wind energy China hasn’t been able to outperform Europe because Chinese turbine makers are ...
AmCham Romania : Private investment in electricity dramatically curtailed, next to zero
Thursday, November 22, 2018
Private investment in electricity generation is lacking, and this could endanger Romania's energy security, the representatives of AmCham Romania say in a press release."AmCham Romania is carefully following the evolution of the investment flows in the Romanian economy, a situation in which it draws attention upon the lack of private investment in one of the economy's main strategic pillars - the electricity generation. Basically, in the past years the private ...
EU’s Sefcovic: Real risk that ‘raw materials become the new oil’
Thursday, November 22, 2018
Europeans have to be “very vigilant” that today’s dependency on imported oil and gas is not replaced by dependency on lithium, cobalt, copper and other raw materials that industries need for the green transition, Maros Sefcovic told EURACTIV. “I really think that, when it comes to the issue of dependency, we could end up in a situation where raw materials become the new oil,” the European Commission vice-president warned ...
USD 4.1 billion gross turnover, up 44 percent, for Rompetrol Rafinare in the first 9 months
Thursday, November 22, 2018
Rompetrol Rafinare, a member company of KMG International, registered in the first nine months of the year an increase of over 44 percent in its gross turnover, to USD 4.1 billion, http://business-review.eu reports. This evolution was mainly influenced by the ascending trend of the international quotations for oil products. At the same time, the operational result – EBITDA ...
President Klaus Iohannis promulgated the Offshore law which regulates the exploitation of gas in the BlackSea
Thursday, November 15, 2018
President Klaus Iohannis promulgated on Monday the Offshore law which regulates the exploitation of gas in the Black Sea. According to the presidential administration, the president signed ‘the decree for the promulgation of the law regarding some measures necessary for the implementation of the oil operations by the owners of oil agreements which refer to offshore oil areas (PL-x33/19.02.2018)’. The law was passed ...
EC : Romania needs to recover around 60 million euros of incompatible aid from energy producer CE Hunedoara
Thursday, November 15, 2018
The European Commission has found that energy producer Complexul Energetic Hunedoara (CE Hunedoara) received around 60 million euros of incompatible state aid from Romania through four publicly financed loans, according to the European Commission Representation in Bucharest."Romania now needs to recover the illegal aid plus interest," reads a press statement released by the representation office on Thursday.Commissioner Margrethe Vestager, in charge of ...
Government taps Romgaz’s pockets for additional dividends of RON 501 million
Thursday, November 15, 2018
The European Commission forecast that the budget deficit recorded by Romania this year will be at 3.3 percent of GDP, from 2.9 percent in 2017, and go to 3.4 percent in 2019. Although the government says the deficit will stay under 3 percent this year, the fact that it is again looking for money in companies’ safes means that the numbers the CE is predicting are accurate. Romgaz, the biggest state-owned natural gas ...
Rompetrol Rafinare, operational result of USD 158 million and processed raw materials over 4.7 million tons in the first nine months of 2018
Thursday, November 15, 2018
Note: The consolidated financial statements of Rompetrol Rafinare include the results of Rompetrol Rafinare S.A. and the results of the subsidiaries Rompetrol Quality Control S.R.L., Rom Oil S.A., Rompetrol Downstream S.R.L., Rompetrol Logistics S.R.L. Rompetrol Gas S.R.L. and Rompetrol Petrochemicals S.R.L. Rompetrol Rafinare, a member company of KMG International, registered in the first nine months of the year an increase by over 44% of its ...
ENEL X ROMANIA ANNOUNCES LARGEST E-MOBILITY PLAN IN THE COUNTRY, AROUND 2,500 CHARGING POINTS, UP TO 20 MILLION EURO INVESTMENT
Thursday, November 15, 2018
· Enel X Romania was launched to offer new, innovative value-added solutions tailored to the needs of individuals, companies and municipalities in the country · The e-Mobility plan’s charging points will be installed, starting from 2019, in most Romanian regions, major cities and on main traffic routes, starting in Bucharest, Timi?oara and ...