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Energy & Environment
Hidroelectrica under investigation, after losses registered by suppliers
Thursday, September 13, 2018
Power suppliers have registered losses as a result of Hidroelectrica’s behavior of selling more energy on the balancing market where the price is higher, instead of the Day Ahead Market (DAM), but consumers would have suffered as well if the situation would have continued, said the president of the Competition Council, Bogdan Chiritoiu, quoted by energynomics.ro. Comments came after the Council announced on Monday that it had launched an ...
The Competition Council authorised the transaction by which MET Holding of Switzerland takes over RWE Energy
Thursday, September 6, 2018
The Competition Council announced on Wednesday that they authorised the transaction through which MET Holding AG of Switzerland takes over RWE Energie SRL. In June, the energy groups MET and Innogy (Elmu-Emazs) announced the signing of the agreement regarding the acquisition by MET of the company RWE Energie (RWEE) Romania owned by Innogy.As a result, MET reaches the top three suppliers on the competition market of energy in Romania. Later, the ...
Romgaz: new discovery of ore from Caragele could be put into operation in 2020-2021
Thursday, September 6, 2018
The new discovery of ore Romgaz from Caragele, Buzau, estimated at about 30 billion cubic meters, could be put into operation in 2020-2021, currently being developed investment for drilling, announced on Wednesday in a press release, the deputy general manager of the company, Dumitru Gheorghe Rotar."The discovery Caragele announced a few years ago is not part of the commercial ore Caragele. It is not at the isobath level of the Caragele ore, It is much deeper. At the ...
KMG International - refining and trading activities increased in the first half of 2018
Thursday, September 6, 2018
The KMG International Group (KMGI) has recorded exceptional financial and operating results during the first half of the year, being supported in particular by refining and petroleum product trading, a press release sent to ACTMedia informs. Based on an increase by 27% of the processed raw material quantities and by 80% of the total volume of marketed products during the first quarter, the Group has obtained an EBITDA operating result of de USD 114.6 million, exceeding the one that ...
Romgaz invests 1.6 billion lei in 2018, almost half in Thermal Power Plant in Iernut
Thursday, September 6, 2018
The head of the National Natural Gas Corporation Romgaz, Andrei Bobar, told on Wednesday a press conference that the company will make investments worth 1.6 billion lei in 2018, almost half of the amount being due to be allocated for the construction of a new Thermal Power Plant in Iernut, the Mures County (central Romania)."Our plan is to reach our investment budget, of approximately one billion and a half - 1.6 billion consolidated, 1.5 billion lei Romgaz individually. In our ...
E-DISTRIBU?IE BANAT TO AWARD CONTRACT FOR WORKS ON GRIDS WITH A VALUE OF UP TO 110 MILLION LEI
Thursday, September 6, 2018
E-Distribu?ie Banat will award, by public tender, a multi-services contract for works on the medium voltage and low voltage lines of the electricity distribution grids, and back-office operations, in the counties Arad, Timis, Caras Severin and Hunedoara, with a total value of up to 110 million lei (approx. 23.7 million euros). The participation announcement for the 3-year contract has been published on the platform of the electronic system for public procurement ...
Euro Gas Systems will build gas compressor station in Croatia
Thursday, September 6, 2018
Romanian company Euro Gas Systems (EGS) will build a gas compressor station for Croatian gas transporter Plinarco. The two companies signed the contract worth EUR 8.2 million on Friday, August 31, according to ...
New research concludes that Member states should capitalise on their renovation strategies to achieve national energy efficiency targets
Thursday, September 6, 2018
A report assessing the updated national renovation strategies of Bulgaria, Croatia, Germany, Romania and Slovenia is published today by the H2020 project EmBuild, finding that the objectives of Article 4 of the Energy Efficiency Directive, in force since 2012, are still only partially met in these five countries. The report states that the opportunity to deliver an array of benefits through renovating the building stock is being missed. The development and implementation of ...
The takeover of Vestmoldtransgaz by Transgaz will be finalised next week
Thursday, August 30, 2018
The takeover of the state-run company Vestmoldtransgaz from the Republic of Moldova by the gas transporter Transgaz will be finalised next week, after the clauses of the privatisation contract will be signed, announced on Monday the ministry of economy.’A team of specialists belonging to Eurotransgaz, the company owned by Transgaz in the Republic of Moldova will go at the end of next week to Kishinev for the stocktaking of the patrimony of ...
Electricity stock exchange price goes up by 70% in August
Thursday, August 30, 2018
The average price of electricity in the spot market of OPCOM exchange reached 281 lei/MWh on Tuesday, on the rise by 70% against the quotation valid on August 1 - 166 lei/MWh, according to data posted on the website. The average price for top consumption hours (9:00-22:00) went up by 80% since the beginning of the month, from 184 lei to 329 lei. The price has been growing continuously in August, on the background of the low ...
Hidroelectrica: Romania will not reach renewable target for 2030
Thursday, August 30, 2018
The intention of the Water Ministry to forbid building hydropower plants at heights between 800 and 1,500 m will have huge impact on Hidroelectrica activity and Romania will not reach the renewable energy target for 2030, said Bogdan Badea, the general manager of Hidroelectrica. “We will analyse the way in which existing installations are affected and we estimate that the impact is very big, when most large accumulations are at over 800 m ...
Regional ministerial conference on nuclear energy to be hosted by Bucharest in October
Thursday, August 30, 2018
Romania's Deputy Prime Minister Viorel Stefan on Wednesday welcomed William Magwood, general manager of the Nuclear Energy Agency (NEA) of the Organisation for Economic Co-operation and Development (OECD) to discuss preparations for a regional ministerial conference on nuclear energy to be hosted by Bucharest in October.According to a press statement release by the Romanian government, Magwood visits Romania as part of the preparations for the Regional Ministerial ...
EPG: Romania faces high reputational costs if Black Sea gas exploitation hits snag
Thursday, August 30, 2018
Romania will be racking up very high reputational costs, as well as costs arising from the arbitration lawsuits filed by oil companies, if the latter halt investments in the leased Black Sea offshore gas blocks, director of the Energy Policy Group (EPG) think-tank Radu Dudau said on Wednesday, during a debate on offshore gas.Dudau said that back in 2010, when the oil companies signed the lease agreements with the National Agency for Mineral Resources, they had ...
Transelectrica to open a branch in Moldova, says Economy minister
Thursday, August 30, 2018
Economy minister Danut Andrusca said on Tuesday that national electricity provider Transelectrica, one of the most profitable Romanian state companies, is planning to open a branch in The Republic of Moldova, according to news.ro QUOTED BY http://business-review.eu. The minister had a bilateral meeting with his Moldovan counterpart, Economy and Infrastructure minister Chiril Gaburici. “Moldova is an interesting and ...
PetrolExportImport to file for insolvency
Thursday, August 30, 2018
The PetrolExportImport Shareholders General Assembly will discuss, on October 1, the request for opening the simple procedure for insolvency, according to the notification posted on the Bucharest Stock Exchange (BVB) website quoted by romaniajournal.ro. The reason is related to the takeover, by Piraeus Bank, of a building in Bucharest by foreclosure. The company says that the difference between overall assets and overall debts has diminished to less ...
EU set to end Chinese solar panel import controls in September
Thursday, August 30, 2018
The European Union will scrap import controls on solar panels and cells from China in September, rejecting a request from EU producers who argue that the bloc will be opening its doors to a flood of dumped products. The European Commission, which coordinates EU trade policy, proposed dismissing the request for an “expiry review” and received backing from a majority of the EU’s 28 countries, according to EU sources familiar with the ...
After Trump attack on Russia ties, Merkel eyes Azeri gas
Thursday, August 30, 2018
Castigated by US President Donald Trump as relying too much on Russian gas supplies, German Chancellor Angela Merkel heads to Azerbaijan last week to discuss the development of a southern pipeline to deliver gas to Europe from the Caspian, Euractiv.com with Reuters report. The visit underscores Merkel’s openness to finding alternative sources of affordable gas even as she remains committed to the Nord Stream 2 pipeline, which will carry gas ...
Paroseni, the first unit of CE Hunedoara in accordance with the European environmental legislation
Thursday, August 30, 2018
Starting Monday, August 27, 2018, the Paro?eni Thermal Power Plant operates in accordance with the environmental values imposed by European legislation, the Energy Ministry has announced. After an investment of 65.3 million euros, the Paro?eni thermal power plant was equipped with a desulphurization plant that eliminates 94% of the SO2 emissions. “We are glad that we have the first power plant in CE Hunedoara in accordance with the European ...
Transgaz to invest 360 million euros in pipeline for taking over Black Sea gas
Thursday, August 23, 2018
Transgaz is going to invest 360 million euros in building the Tuzla-Podisor pipeline for taking over the gas to be extracted from the Black Sea and transport it to the export pipelines, inform the company managers in the activity report for H1."The major objective of this investment is to build a telescopic pipeline for natural gas transmission between Tuzla and Podisor, to measure 308.3 in length and 1200 and 1000 DN respectively, which will link the natural gas resources ...
Valcov : It is possible that Gazprom is the main shareholder of OMV
Thursday, August 23, 2018
Prime Minister’s adviser for economic issues, Darius Valcov, makes new controversial statements and claims, in an interview, that there is information from sources that Gazprom could be the main shareholder of OMV. In this way, “Romanian gas could go into Russian hands,” he said. Valcov is also dissatisfied that Exxon is based in Bahamas and “we are not able to conduct checks, we have no exchange of information with Bahamas.” The statements were made in an ...