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Energy & Environment
Mol Group’s diesel sales up 2 percent in H1 2018
Thursday, August 9, 2018
Hungarian Mol retail sales were stable in Romania in the first half of 2018 compared to the same period in 2017, http://business-review.eu informs. Thus, retail sales of gasoline volumes slightly decreased by 1 percent, while diesel volumes increased approximately 2 percent, compared to the same period last year. EBITDA reached USD 1.3 billion after the ...
BSOG completes the two well exploration drilling program in the Black Sea
Thursday, August 9, 2018
Black Sea Oil & Gas SRL (“BSOG”), together with its co-venture partners, announce the completion of a two well exploration drilling program in the XV Midia block, offshore Black Sea, romaniajournal.ro reads. The drilling campaign was initially scheduled to start in Q4 2017, subject to rig availability. BSOG used the drilling unit “GSP Saturn” for this campaign. GSP Saturn is a four-legged, self-elevating jack-up, with a ...
Ambassador Maior: Hungary must understand the importance of gas exploitation in the Black Sea
Thursday, August 9, 2018
Exploiting natural gases in the offshore and onshore sectors and the strategic projects ran on the Black Sea, especially, will be a success for the economy and security of Romania, Romanian Ambassador to the USA, George Cristian Maior, said in a statement regarding the investment projects in the energy sector on the Black Sea."Capitalizing the natural resources of Romania in the service of the country is a priority project," Maior underscored after presenting, in ...
E-Distributie Banat finished the upgrade of Teba station, for 16.500 consumers
Thursday, August 9, 2018
E-Distribu?ie Banat finalized the modernisation project of the Teba primary station, after an investments worth about 10 million lei (more than 2.1 million euros), improving the quality of the electricity distribution services for approximately 16,500 consumers. The 110/20 kV station now provides a more reliable service for household and also industrial consumers in the central part of the City of Arad, among which the water treatment plant, the Arad ...
OMV Petrom anticipates 3.7 bln lei worth of CAPEX this year, H1 investment up 130 pct
Thursday, August 9, 2018
OMV Petrom anticipates CAPEX (including capitalized exploration and appraisal) to be around 3.7 bln lei this year, of which around 75 percent will be in the Upstream exploitation and production segment; the company reported investments of 2.1 billion lei in H1 2018, up 130 percent compared to the same period last year, as per the Group's consolidated financial statements (unaudited), released on Thursday.The increase in investments is mainly due to a ramp-up in ...
OMV Petrom reports net profit up 6 pct, H1 2018
Thursday, August 9, 2018
OMV Petrom Group recorded in H1 this year a net profit worth 1.28 billion lei,up 6 percent as compared to the similar period of 2017, namely 1.21 billion lei, according to the financial results released on Thursday by the company.The earnings per share amounted to 0.0227 lei, up 6 percent in H1 2018.In Q2, the company had a profit down 27 percent, to 434 million lei, as compared to 592 million in Q2 2017.The result from exploitation ...
The Energy Ministry calls for the change of negotiation team for Reactors 3 and 4
Thursday, August 9, 2018
The Ministry of Energy postpones further negotiations for the construction of Cernavoda Reactors 3 and 4 with the Chinese side and calls for the appointment of a new negotiating committee, energynomics.ro informs. Thus, the Ministry of Energy asked the Nuclearelectrica management to complete the agenda of the Extraordinary General Meeting of Shareholders of SNN dated 22.08.2018, by introducing a new point, namely: “Postponement of the approval of the revised form of the ...
Offshore Law: US Energy Secretary Rick Perry called in the Romanian ambassador for talks
Thursday, August 2, 2018
Romanian Ambassador in Washington, George Maior, had a meeting with US Energy Secretary Rick Perry and talks focused on offshore law recently adopted by Parliament as “there are some fears,” according to Romanian Foreign Minister, Teodor Melescanu, energynomics.ro informs. Melescanu said the meeting is a common thing for two allied states and the American secretary had to be sure that there is a concordance between the text of the offshore law and the annex on ...
USR's Dan: President Iohannis should return off-shore drilling law to Parliament for real debate
Thursday, August 2, 2018
Former leader of the Save Romania Union (USR) Nicusor Dan is urging President Klaus Iohannis to return to Parliament the off-shore drilling law to increase Romania's share of the Black Sea gas exploitation, arguing that the piece of legislation passed without a real debate, without impact studies or reckonings."The off-shore drilling law passed through Parliament without a real debate, without impact studies and without concrete reckonings showing how much Romania ...
Transgaz has for auction the export and import capacities of natural gas at the border with Hungary and Bulgaria
Thursday, August 2, 2018
Transgaz published on its site the announcements regarding the sale by auction of the export –import capacities of gas from and to Hungary and Bulgaria for the gas year 2018 – 2019.Thus, the grid operators interested to keep its capacity for import or export in relation with Hungary at Csanadpalota or in relation with Bulgaria through the pipeline Giurgiu-Ruse had to be registered until 27th July so that until 31st July present the guarantee of ...
Transelectrica finalised investments of 166 million lei in the first part of the year
Thursday, August 2, 2018
The National Company of Transport of Electricity Transelectrica announced on Wednesday that in the first quarter were finalised and put to function investments worth approximately 166 million lei. As a total, Transelectrica has planned for this year investments of 400 million lei,out of which almost 120 million is for new projects. Out of these, the main objectives are: the air electricity line of 400 kV for interconnection ...
BSTDB is providing EUR 7 million to Garanti Consumer Finance to finance energy efficiency projects in Romania
Thursday, August 2, 2018
The Black Sea Trade and Development Bank (BSTDB) is providing a EUR 7 million revolving facility to Garanti Consumer Finance, a Romanian non-banking financial institution, to finance energy efficiency, renewable energy and water-saving solutions in the Romanian residential housing sector, http://business-review.eu infoms. The BSTDB’s first facility of the kind is expected to help improve energy efficiency ...
In 2017 Romania produced less electricity than in 2016 and 2015
Thursday, August 2, 2018
In 2017 Romania produced 63.6 Terawatt/hour with 2% less than in 2016 and with 2.4% less than in 2015 the data of a report conceived by British Petroleum (BP)says. The biggest productions of electricity of Europe were in Germany (654.2 terawatt/hour) France (554.1 terawatt/hour) and the UK (335.9 terawatt/hour). Big productions of electricity were recorded in Italy (295.6 terawatt/hour) Turkey (295.5 ...
EIB co-finances Enel’s plan for 14,000 new e-charging stations
Thursday, August 2, 2018
The European Investment Bank (EIB) is working alongside Enel to install about 14,000 charging stations for electric vehicles throughout Italy, over the next five years, energynomics.ro reports. This is the objective of the agreement signed in Rome by the EIB and Enel X Mobility, a subsidiary of Enel X, the Enel Group business line that focuses on developing digital solutions. Enel X Mobility will receive a 10-year loan totalling 115 million euros, guaranteed by Enel Spa, of ...
Only two thirds of cities and a quarter of villages in Romania have access to natural gas services
Thursday, August 2, 2018
The length of the Romanian gas distribution network increased last year by only 1.5 percent, according to data from the National Institute of Statistics (INS), over 90% of the distributed quantities being consumed in the urban area, http://business-review.eu reads. Beyond the lack of roads or the inability of small communities to draw large investment ...
In 2017, Hidroelectrica had record financial results
Thursday, August 2, 2018
Hidroelectrica announced on Friday that it has distributed dividends worth RON 1.13 billion, or 90 percent of the profit it made last year. The amount is the highest in the company’s history and 10 percent higher than the dividends distributed last year. Of the total, RON 908 million are going to the Energy Ministry, which owns 80 percent of shares, while RON 226 million are going to the other shareholder, the ...
US Ambassador: Parliament passed Offshore Law by disregarding principles of transparency and negotiation
Thursday, July 26, 2018
The US Ambassador to Romania, Hans Klemm, has directed criticism at the way Parliament adopted the Offshore Law, which regulates the exploitation of gas in the Black Sea, saying that all principles of transparency and negotiation have been disregarded, http://business-review.eu informs. Klemm said that he has urged the Romanian government to be predictable in its economic policies and transparent about moves ...
Dumitriu (CCIB): Romanian authorities should focus only on taxes alone
Thursday, July 26, 2018
Romanian authorities should not focus on taxes alone about the offshore law, but would need to correlate this aspect with the country’s industrial and energy strategy, says Sorin Dimitriu, the president of the Bucharest Chamber of Commerce and Industry. A thorough approach of taxes will have to take into account the way resources are exploited, he considers. “Exploitation should be reasonable, not based on a strictly fiscal philosophy. ...
Fondul Proprietatea : GAS PRICE CAPPING BREAKS LOCAL AND EU LEGISLATION AND JEOPARDIZES INVESTMENTS AND ROMANIA’S FUTURE GAS INDEPENDENCE
Thursday, July 26, 2018
Fondul Proprietatea expresses significant concerns regarding the intention of the Government to cap the gas prices from internal production at around 70% of the current market price, following the recent publication of a draft Government Decision by the Ministry of Public Finance. If adopted, the Government Decision would flagrantly breach already approved legislation, as well as Romania’s obligations as EU member state to observe the free ...
ANRE: Natural gas price for end household consumers to increase 5.83pct as of 1 August
Thursday, July 26, 2018
The natural gas price for household customers will increase by 5.83% as of 1 August 2018, the National Regulatory Authority for Energy (ANRE) said in a statement sent on Thursday."Considering the demands of the natural gas suppliers and the thorough analysis of the costs reflected in the final price, the Regulatory Committee, applying the legal provisions, found that the requirements for an adjustment are met, on an average of 5.83%, of the price at natural gas ...