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Energy & Environment
KMG International, member of the Romanian Energy Center
Thursday, May 31, 2018
KMG International Group strengthens its network of domestic and international professional partnerships by joining the Romanian Energy Center (CRE), one of the most important non-government, nonprofit and apolitical organization from the Romanian energy sector that supports the development and representation of the profile domain within the European Union. "The Group pays a great importance to the expansion and consolidation of the international ...
The business of the Oltenia Energy Unit increased last year with 28.5%
Thursday, May 31, 2018
The Oltenia Energy unit, one of the biggest producers of energy in the country, reported last year a turnover higher with 28.5% from 2.28 billion lei in 2016 to 2.93 billion lei. The income grew with 18.7% from 3.68 billion lei in 2016 to 4.37 billion lei in 2017, according to the results published on the site of the company. The producer of energy registered a net profit of approximately 181 million lei against a loss of almost ...
ROTTCO CONSULT initiated proceedings for insolvency
Thursday, May 31, 2018
ROTTCO CONSULT, a company in the top 10 in the fuel distribution market in Romania, has initiated proceedings for entering insolvency. In a press release, the company justifies the decision with a “complex market situation with a significant negative impact on ensuring the flow of working capital”. “We have taken this measure as a result of the late payment of some customers. This, correlated with the other causes, has left us with no ...
European commissioner calls the end of diesel in several years in EU, urges Romania to increase recalls of old cars
Thursday, May 31, 2018
European Union commissioner for Internal Market, Industry, Entrepreneurship and SMEs Elzbieta Bienkowska said that diesel cars will completely disappear “in several years” and EU should prepare for a technological revolution in road transport, according to Bloomberg, quoted by http://business-review.eu. She urged Romania and other Eastern European countries to increase recalls of old diesel vehicles, suspected of failing to meet nitrogen oxides (NOx) ...
Hidroelectrica will purchase wind parks in Romania and other power companies
Thursday, May 24, 2018
Hidroelectrica is analysing the possibility to purchase wind and photovoltaic parks in Romania, as well as power companies abroad, said Bogdan Badea, the general manager of the company at press conference, on Monday. He also showed he was analysing the possibility to purchase other companies outside the country. “We have a market analysis going on,” Badea pointed out. He was also skeptical ...
Eleven companies interested in transporting natural gas from Romania to Ukraine
Thursday, May 24, 2018
11 companies expressed their interest in transporting natural gas from Romania to Ukraine through Trans-Balkan pipe , Ukrtransgaz company, the operator of gas pipes in Ukraine announced on Friday, at the end of the evaluation of market demand for this route, Interfax informs. “Eleven top companies in Europe and Ukraine expressed their interest in the transport of natural gas from Romania to Ukraine for up to 10 billion cubic meters per year, that ...
Top court dismisses KMG International and Oilfield Exploration challenges to DIICOT lien on Rompetrol assets
Thursday, May 24, 2018
The High Court of Cassation and Justice dismissed as ungrounded the challenges filed by Oilfield Exploration Business Solutions SA, Rompetrol Rafinare SA and KMG International N.V. to the May 6, 2016 warrant of lien issued by the Directorate for Investigating Organized Crime and Terrorism (DIICOT) for the recovery of approximately 1.7 million lei, 291 million dollars and 35 million euro.The ruling handed down on Tuesday by the Council Chamber is ...
Nuclearelectrica wins litigation with Fondul Proprietatea on capital increase
Thursday, May 24, 2018
National Company Nuclearelectrica has won the litigation initiated by Fondul Poprietatea, the court establishing the fact that SNN acted lawfully in the increase operation of the registered capital with a cash contribution of the Romanian state amounting to 194,376,700 lei (rd 41 million euro, ed. n.), representing the value of budget allocations corresponding to 2006-2009 for the accomplishment of Unit 2 and financing the works of Unit 3-5 of CNE Cernavoda (Romania's ...
Gas imports up 14.2pct in Q1 2018
Thursday, May 24, 2018
Romania imported in the first quarter of 2018 a usable natural gas quantity of 614,400 tonnes of oil equivalent (tep), by 14.2pct (76.200 tep) higher than that of the similar period in 2017, according to data centralized by the National Institute of Statistics (INS).Domestic gas production exceeded 2.13 million toe, by 2.5pct (51.200 tep) over January-March 2017.According to the Romanian Energy Strategy, published on the relevant ministry's website, ...
Romania imported over 2 million toe in Q1 2018
Thursday, May 24, 2018
Romania imported in the first quarter of 2018 a total of 2,117 million of tonnes of oil equivalent, with 467,300 toe (28,3 percent) higher year-on-year, according to data released by the Institute National Statistics Institute (INS), http://business-review.eu ...
Hidroelectrica's 2017 net profit of 1.36 bln lei, an all-time high
Thursday, May 24, 2018
Hydropower producer Hidroelectrica last year made 1.36 bln lei in net profit, the highest in the company's existence, Hidroelectrica general manager Bogdan Badea told a press conference on Monday.In 2016 the company's net profit had been 1.228 billion lei.In Q1 2018 Hidroelectrica posted a net profit of 485 million lei, compared to 399 million in the year-ago period; the increase was the result of better hydrological conditions.The ...
Nuclear waste: Commission urges 20 Member State to correctly transpose EU rules
Thursday, May 24, 2018
The Commission has decided to send letters of formal notice to Austria, the Czech Republic, Hungary, Italy, the Netherlands, Poland, Portugal, Romania andthe United Kingdom for failing to correctly transpose certain requirements of the Spent Fuel and Radioactive Waste Directive ...
Nuclear safety standards: Commission calls on 9 Member States to transpose EU legislation
Thursday, May 24, 2018
The Commission have decided to send letters of formal notice to Cyprus, Finland, Greece, Ireland, Italy, Luxembourg, Malta, Portugal and Sweden requesting transposition of the new Basic Safety Standards Directive ...
Air quality: Commission takes action to protect citizens from air pollution
Thursday, May 24, 2018
The Commission is standing up for Europeans' need to breathe clean air. The Commission is providing national, regional and local actors with practical help to improve air quality in Europe, and stepping up its enforcement against 7 Member States who have breached agreed EU rules on air pollution limits and type approval for cars. Commissioner for Environment, Karmenu Vella said: “The decision ...
Infringement procedures escalated for 4 Member States
Thursday, May 24, 2018
The Commission is taking further steps in its infringement procedures against 4 Member States on the grounds that they have disregarded EU vehicle type approval rules. The Commission decided today to issue additional letters of formal notice to Germany, Italy, Luxembourg, and the United Kingdom. EU type-approval legislation requires Member States to have effective, ...
Length of oil and gas pipelines reaches 16,601 km at end of 2017
Thursday, May 24, 2018
The oil and gas pipelines at the end of 2017 reached a length of 16,601 kilometers, according to data centralized by the National Institute of Statistics (INS).Of the total pipelines, 80.5 percent (13,350 kilometers) were destined to natural gas transmission, out of which 12,797 kilometers for natural gas transmission and 553 kilometers for international transit.The pipelines for the oil transmission had a length of 2,776 kilometers (16.7 percent of ...
The minister of energy Anton: Romania will achieve in due time the obligations assumed in the BRUA project
Thursday, May 17, 2018
Romania will achieve in due time its obligations in the BRUA project as this pipeline will be an important part of the major framework of the system for gas transport on the national territory,stated on Monday in the plenary of the Deputies’ chamber at ‘ the government hour’ the minister for energy Anton Anton.‘I want to say that BRUA is a very important pipeline but which means Bulgaria, Romania,Hungary and Austria. Romania,as its part of ...
The grids of electricity and gas of Romania need investments of over 10 billion euro
Thursday, May 17, 2018
The grids of electricity and natural gas distribution need investments of over 10 billion euro on a long term for the replacement of the infrastructure with overdue life span, according to a press release of the Federation of the Association of the Companies of Energy Utilities (ACUE). Total investments made by the members of ACUE over the last ten years (2008 -2017) in the extension,rehabilitation and development of the grids for ...
Eurospeed’s takeover by OMV Petrom gets Competition Council green light
Thursday, May 17, 2018
The Competition Council has authorized the transaction through which OMV Petrom takes over the aviation fuel supply contracts of Eurospeed concluded with certain airline companies operating on Iasi International Airport, a press release informs, romaniajournal.ro reads. OMV Petrom is an oil company which mainly carries out exploration and production of hydrocarbons, sales of natural gas, refining of crude oil, sales of oil products as well as the ...
Coal production declines 5.7pct, in Q1 of 2018; imports up 22.4pct
Thursday, May 17, 2018
Romania's net coal production in the first quarter of 2018 totals 1.14 million tonnes of oil equivalent (toe), down 5.7 percent (69,500 toe) from the similar period of last year, according to data centralised by the National Institute of Statistics (INS).In the mentioned period, Romania imported 105,500 toe of net coal, up 19,300 toe (22.4 percent) from January-March 2017.According to the Energy Strategy project posted on the ministry's website, ...