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Energy & Environment
Another Black Sea investor postpones investment decision
Thursday, November 1, 2018
Black Sea Oil&Gas, a company controlled by U.S. group Carlyle, which operates two offshore perimeters in the Romanian Black Sea, Midia and Pelican, won’t make a decision on continuing its investments this year, according to a press release quoted by ...
Energy Minister says Romania should become a natural gas hub
Thursday, November 1, 2018
Energy minister Anton Anton said that Romania should become a natural gas hub, as it is a producer and can even become the largest natural gas producer in the European Union, http://business-review.eu informs. ”If we extract the Black Sea gas, we will become the first gas producer in the European Union after Brexit. We have to make sure that we are a stability ...
KazMunayGas, Romanian state set up Kazakh-Romanian Energy Investment Fund
Thursday, November 1, 2018
KazMunayGas International (KMGI) and the Energy Ministry have signed the partnership contract that sets up the Kazakh-Romanian Energy Investment Fund on Friday, KMGI informed. The fund has been established according to the Understanding memorandum between Romania and KMGI (former Rompetrol group). The Kazakh-Romanian investment fund expects an investment level of around USD 1 billion for 7 years. The KMGI contribution to the ...
OMV postpones to 2019 the decision to invest in offshore operations in the Black Sea, blames late adoption of Offshore Law
Thursday, November 1, 2018
OMV, one of the Black Sea oil blocks concessionaires, alongside ExxonMobil and Lukoil, has announced that it will decide whether or not to invest in offshore operations in the Black Sea in 2019. According to CEO Rainer Seele, the delay was caused by the late adoption of the Offshore Law. We cannot make the decision to invest in Petrom (part of the OMV Group) this quarter, as we have planned, Rainer Seele said, according to Reuters, quoted by ...
End of Romania’s offshore law saga: Parliament votes on final form
Thursday, November 1, 2018
Romanian lower chamber of the Parliament has voted on Wednesday the final form of offshore law following a consensus reached by the countries two main parties – ruling party PSD ( social-democrat) and main opposition party PNL (liberal party). The final form of the law freezes the royalties and ...
ButanGas registered an advance of 14% of business last year, to 40 million euros
Thursday, October 25, 2018
The ButanGas part of Veroniki Holding, announced on Monday that it has made an advance payment of 14% of the business last year,up to 40 million euros. ButanGas Spa is currently one of the main players in the Italian market and is part of Veroniki LPG Holding group led by President Daniela Veronica Gusa de Dragan. The company ButanGas Romania, based in Bucharest has four branches and two factories.The company ...
CE Oltenia coal deposits are approximately 900,000 tons
Thursday, October 25, 2018
The stocks of coal in the Oltenia Energy Complex (CEO) are currently about 900,000 tons, the adequate amount during winter, according to a company press release sent on Monday. However, the CEO stated that the figures presented represent the success of the company employees who managed to exceed targets, and the involvement of the Ministry of Energy in releasing regulations needed for energy production as part of the National Energy ...
Environmental protection expenditure accounted for 10.3 billion Ron at national level, namely 1.2 of the GDP
Thursday, October 25, 2018
-In 2017, the environmental protection expenditure at national level amounted to RON 10.3 billion, accounting for 1.2% of GDP -At national level, the highest environmental protection expenditure was recorded in waste sector, ...
ESCOROM proposes the conversion of coal-fired power plants as the central element of the national energy strategy
Thursday, October 25, 2018
The ESCOROM Association of Energy Services Companies in Romania launched in public debate a position paper proposing that the national strategy be based on the most serious energy security issue of the moment: about 3000 MW, mainly generation capacities based on coal (lignite) are expected to exit the system by 2025, energynomics.ro reads. Authors consider that none of the priority projects identified ...
Lucian Anghel: 5 ways companies can reduce their energy losses
Thursday, October 25, 2018
* Lucian Anghel is Founder and CEO, Timepal Romania and Facilities Management Services Energy losses are often unknown and unquantified in companies operating form many industry sectors. Even if managers know that they have energy losses in the company, some of them do not have a clear picture of the value of these losses, nor of the methods by which they can be reduced, energynomics.ro reads. In fact, depending on the ...
Bucharest Forum: Energy is a crucial part of regional security
Thursday, October 25, 2018
Career diplomats, military and analysts, as well as experts from the various fields of activity (energy, biotech, IT) discussed in Bucharest topics related to national and regional security at the seventh Bucharest Forum, organized by the Institute Aspen, energynomics.ro informs. Romania In a most complicated context, transatlantic relations, energy and environmental security, together with military mobility, were recurrent topics in all the ...
31 Romanian companies in the Atlas of Biomass and Bioenergy from Energy Barge
Thursday, October 25, 2018
The ENERGY BARGE project consortium has launched the modal transfer platform, a tool combining the “Biomass and Bioenergy Atlas” and the ecological logistics platform for bioenergy across the Danube, energynomics.ro informs. The Romanian Association for Biomass and Biogas – ARBIO, announces that the platform would also include a section of good practices that “would allow ...
OMV Petrom has auctioned a contract worth up to EUR 462 mln for probe services
Thursday, October 25, 2018
OMV Petrom has auctioned, through the electronic procurement system, a framework contract worth up to EUR 462 million for probe services, both in the Black Sea and on land, for four years, http://business-review.eu informs. According to the operator of the electronic public procurement system, this is the largest contract auctioned on the platform in the past two months. The estimated ...
Deloitte : Romania has the lowest energy consumption in the EU
Thursday, October 25, 2018
Romania has the lowest energy consumption per capita in the European Union and needs to increase its domestic consumption by expanding distribution networks and investing in new natural gas-based power plants, according to the report “The Outlook for natural gas in Romania and proposals for its value-added capitalization”, written by energy experts Vasile Iuga and Radu Dud?u, consulted by Business ...
Lukoil refinery in Romania and Russian managers cleared of economic crimes charges
Thursday, October 25, 2018
The Romanian subsidiary of Russian group Lukoil that operates the Petrotel refinery in Ploiesti and its managers were found not guilty of economic crimes, according to a decision of the Prahova Court, cited by ...
Italian clean energy group buys majority stake in Romanian company
Thursday, October 25, 2018
Italian clean energy group PLC will acquire a majority stake in Monsson Operations, a company that is part of Romanian Monsson Group, romania-insider.com informs. PLC will hold 51% of Monsson Operations by the end of November, according to an official announcement. The value of this deal wasn’t disclosed. By joining PLC, Monsson aims to ensure the financing of the projects under ...
PSD-ALDE coalition reaches agreement on offshore law: 50 pct of gas production to be traded on energy exchange
Thursday, October 18, 2018
The ruling coalition's Social Democratic Party (PSD) and the Alliance of Liberals and Democrats (ALDE) reached common ground regarding the amendments to the offshore law, with PSD floor leader, deputy Daniel Suciu stating that the coalition meeting had decided that 50 percent of the Black Sea gas production shall be traded on the Romanian exchange, and a maximum 30 percent of the additional income tax revenues be deductible. The decision was taken Wednesday ...
ROMATOM : horizontal nuclear industry can ensure 19,000 work places for the implementation of the projects for units 3 and 4 in CNE Cernavoda
Thursday, October 18, 2018
The horizontal nuclear industry in Romania can ensure a significant number of workplaces estimated at19,000 at the moment of the implementation of the projects for unit 3 and 4 in CNE Cernavoda, appreciates the representatives of the Romanian Atomic Forum – Romatom in a press release. As an association of the nuclear industry in Romania affiliated to the forum of the European nuclear industry ROMATOM sent to the ministry of energy a series ...
Corina Popescu takes over the position of interim general manager of Electrica starting with 1 November
Thursday, October 18, 2018
The Board of Electrica SA and the general manager Dan Catalin Stancu agreed to put an end to their collaboration starting with 1 November 2018 and the position of interim general manager of the company was taken over by Georgeta Corina Popescu former state secretary in the ministry of energy announced on Tuesday Electrica. Starting with 1 June 2018 Georgeta Corina Popescu occupies the position of general manager of the Society of Distribution of ...
OMV Petrom has auctioned a contract worth up to EUR 462 mln for probe services
Thursday, October 18, 2018
OMV Petrom has auctioned, through the electronic procurement system, a framework contract worth up to EUR 462 million for probe services, both in the Black Sea and on land, for four years, http://business-review.eu informs. According to the operator of the electronic public procurement system, this is the largest contract auctioned on the platform in the past two ...