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Energy & Environment
Romania Resists Pressure to Rush Offshore Gas Bill
Thursday, July 12, 2018
Romania is resisting pressure to rush through legislation to regulate offshore exploitation of its Black Sea gas deposits – amid a spat with Hungary over the lack of infrastructure and the slow progress in adopting relavant legislation so far. A public dispute erupted last Wednesday after Hungarian Foreign Minister Peter Szijjarto told the Washington World Gas Conference that Romania needed to be pressured to adopt legislation and upgrade its infrastructure. A US ...
Transgaz confirms no EU rules at key interconnection point because of Gazprom
Thursday, July 12, 2018
Romanian gas transmission system operator Transgaz has confirmed that it has been unable to apply a requirement of the European network code at a key interconnection point after Russia’s Gazprom threatened to cut supplies to Eastern Europe ahead of ...
KMG International publishes its 2017 sustainability report and announces the best results in the history of the Group
Thursday, July 12, 2018
KMG International publishes its fourth sustainability report, drafted according to international standards (Global Reporting Initiative G4), and announces the economic, social, environmental and marketplace performance of the Goup’s strategic development areas in the 2017 interval. "In 2017, our Group reached the highest level of operational and financial indicators since the establishment of Rompetrol and Petromidia Refinery, and 10 years after its takeover by KazMunayGas; ...
New country manager for CEZ Romania
Thursday, July 12, 2018
Ondrej Safar will take over the position of country manager and president of the directorship of CEZ Romania starting August 1, after Martin Zmelik is relocated to the company’s base office in Prague, romaniajournal.ro informs. Safar worked within CEZ Romania before, between 2005-2012, and he is currently general manager of the CEZ branch in Turkey. Martin Zmelik says he will be involved in strategic projects at CEZ office in Prague, for instance in transferring smart ...
Moody’s grants Transelectrica a Ba1 rating, improving its outlook
Thursday, July 12, 2018
The National Power Grid Company Transelectrica SA informed shareholders through a BSE statement that the International Rating Agency Moody’s Investors Service has reconfirmed last year’s rating of the National Power Grid Company Transelectrica SA of Ba1 and also improved the company’s perspective, from stable to positive, energynomics.ro infoms. “Moody’s rating is a favorable objective opinion on Transelectrica’s ability to honor its financial ...
Siemens Energy Management: Ready for the digitalization!
Thursday, July 12, 2018
Siemens is ready to cover from local resources the digitalization projects which will definitely not circumvent Romania: the rates of employment at the Energy Management division in Romania might see a two-figure percentage increase this year. The total volume of investments in the market grew in the second half of last year and this trend is expected to be maintained in 2018. Meanwhile, Siemens installed the first functional storage megawatt in Romania – a project it will make public ...
Transaction between KMG and China’s CEFC for KMG International NV, former Rompetrol Group, failed
Thursday, July 5, 2018
The transaction for the takeover by Chinese company CEFC (China Energy Company Limited) of 51% of the KMG International NV (former Rompetrol Group) shares has failed, sources close to the negotiations have told Reuters, quoted by capital.ro. KazMunayGas officially informed in April 2018 that the transaction between CEFC China Energy Company Ltd, in order to take over 51% of KMG International NV shares has been postponed for June, for reasons related to ...
Romania's reaction to Hungary’s accusations on BRHA pipeline: We started to build on the project, others should do the same
Thursday, July 5, 2018
Energy Minister, Anton Anton, has given the first reply to the accusations from Hungarian officials regarding the BRHA pipeline and the exploitation of the Black Sea gas. Present in Bucharest on Monday, European Commissioner for Energy and EC Vice-president, Maros Sefcovic, has proposed discussions with calm, saying that experts should find solutions agreed by all parties. In turn, Minister Anton said that “Romania is ...
Peter Szijjarto în Washington: In Central Europe, energy supply is an issue of security
Thursday, July 5, 2018
“In Central Europe, energy supply is an issue of security, and accordingly the time has come to put an end to doublespeak and to make it clear that progress will only be made with relation to Central Europe’s energy security if the required infrastructure development projects are realised using American or European Union financing”, Minister of Foreign Affairs and Trade Péter Szijjártó declared in a statement to Hungarian news agency MTI ...
MAE: Spreading misinformation on regional energy cooperation disagrees with spirit of Romanian-Hungarian strategic partnership
Thursday, July 5, 2018
Romania's Ministry of Foreign Affairs (MAE) says spreading misinformation regarding Romania's actions in regional energy cooperation runs contrary to the spirit of the Strategic Partnership between Romania and Hungary and the bilateral co-operation relations, respect and mutual trust between two European countries that are EU and NATO members.In a press statement released on Friday, MAE remarked that it is concerned about recent public statements, including by ...
Exxon could extract 6.3 billion cubic meters of gas from the Black Sea per year, over half of Romania’s current output
Thursday, July 5, 2018
ExxonMobil could extract about 6.3 billion cubic meters of gas per year from the Black Sea, Richard Tusker, the representative of ExxonMobil Romania, said on Monday, on the occasion of the forum ‘Romania’s Presidency at the EU Council: Challenges and Opportunities for the Energy Sector’, romaniajournal.ro informs. This quantity represents more than half of Romania’s current gas production, which is about 11 billion cubic meters per year, ...
EnergMin Anton: Romania meeting BRHA project deadlines, to complete gas pipeline on schedule
Thursday, July 5, 2018
Romania will abide by the deadlines committed under the BRHA - Bulgaria, Romania, Hungary, Austria - project and will complete the gas pipeline on its soil on schedule, Romania's Energy Ministry said Friday in a press statement.Energy Minister Anton Anton attended a meeting of the Central and South Eastern Europe Gas Connectivity Group High Level Group (CESEC), which took place in Sofia, Bulgaria, June 28-29, 2018.At the meeting, Anton underlined the ...
Oil Terminal Constanta collects 31.5 million lei from OMV Petrom for oil transport for one year
Thursday, July 5, 2018
Oil Terminal Constanta, the operator of the state-run oil terminal at the Black Sea signed a contract worth 31.5 million lei,without VAT with OMV Petrom, the biggest oil and gas producer in south-eastern Europe for the transportor of oil for one year, according to an announcement published on the site of the Stock Exchange Bucharest (BVB). The contract is valid between 1July 2018 -30 June 2019. Similarly, Oil ...
KMG International – A Growth in the Financial and Operational Results of Q1 2018
Thursday, July 5, 2018
This year’s first quarter brought an improvement for KMG International, in terms of its operational and financial results, in the context of a development in their trading and retail activity related to petroleum products in Romania and the Black Sea region, the company said în a press release sent to ACTMedia. “For 2018, we intend to focus on extending the Group trading and retail activities but also to continue the implementing of ...
Romgaz to build SE Europe's largest gas project
Thursday, July 5, 2018
Thanks to a 4.5 million euro grant that the Romanian natural gas producer Romgaz received by the state's Energy ministry, in five years from now, the company will have constructed the largest gas project in southeastern Europe. It is expected to be the largest such plant due to its planned installed generation capacity of 430 megawatts (MW). Romgaz filed a statement with the Bucharest stock exchange on ...
Governance of the Energy Union: Council confirms deal reached with the European Parliament
Thursday, July 5, 2018
The EU ambassadors of the member states confirmed, on behalf of the Council, the provisional agreement reached on 19-20 June between the Bulgarian Presidency and the European Parliament on the Energy Union governance regulation, EU press release informs. The governance regulation is a key part of the clean energy package. It is the 'umbrella' piece of legislation which is intended to ensure that the EU's 2030 energy and climate targets are ...
FGSZ : Hungary will never become a gas hub for the region; gas flows will be decided by traders, not by politicians
Thursday, June 28, 2018
Hungary will not become a natural gas hub for the region, because it will never be transited by large quantities of gas, and the gas flows through the country will be decided by the traders, not by politicians, Hungarian gas transmission monopoly’s CEO Kristof Terhes told Romanian journalists in Bucharest. FGSZ, a company owned by the Hungarian energy group MOL, operates the natural gas transmission network in Hungary and could play a key role in ...
Bulgarian gas hub plans raise eyebrows in Brussels
Thursday, June 28, 2018
Bulgaria launched a tender Wednesday (27 June) for a new gas link with Turkey in a push to persuade Russia to extend the second part of the Turkish Stream pipeline to its border rather than Greece, euractiv.com informs. Sofia has engaged in a flurry of diplomacy with Moscow and Istanbul in recent weeks to ensure it receives the gas Russia plans to send to Europe through its Black Sea pipeline bypassing Ukraine to the ...
The cogeneration sector has a future in Romania, despite the present
Thursday, June 28, 2018
Strong demand, especially in Bucharest, and potential new natural gas resources are the premises on which to develop appropriate business models for the development of the cogeneration sector, whether we are talking about the commissioning of new plants or about continuing operation of some of the existing ones. The national leader ELCEN, as well as companies active in related sectors such as MET ...
ExxonMobil applies to become a natural gas supplier in Romania
Thursday, June 28, 2018
ExxonMobil Exploration and Production Romania, the local branch of the American oil giant, which together with OMV Petrom owns the concession of the Neptun Deep offshore hydrocarbon perimeter in the Black Sea, has submitted an application to obtain a natural gas supplier licence with the National Energy Regulation Authority (ANRE), expected to make a decision on the matter this week, according to Profit.ro. The licence would allow the company to supply ...