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Energy & Environment
Interest in Ukraine-Romania gas export capacity double that expected, Ukrtransgaz
Thursday, May 17, 2018
An open season for export capacity on the Ukrainian-Romanian border has been oversubscribed, as companies bid for more than double the offered capacity, the country’s grid operator Ukrtransgaz told ICIS on Tuesday, icis.com reports. A total of 11 international shippers and producers expressed an interest in export capacity at the Isaccea 1-Orlovka on the Romanian-Ukrainian border starting from 2019. Even though Ukrtransgaz ...
Rompetrol Rafinare, 27% increase in raw materials processed in Q1 2018
Thursday, May 17, 2018
Rompetrol Rafinare, a member of KMG International Group, recorded in the first quarter of 2018 an increase by approximately 27% of the raw matters processed in the two refineries – Petromidia Navodari and Vega Ploiesti, against the background of continuing the optimization and improvement programs for processing, logistic and distribution costs. The results were influenced by the ...
Exxon mobile to lease staff for natural gas exploitation in the Black Sea
Thursday, May 17, 2018
American oil giant ExxonMobil, which together with OMV Petrom owns the concession for the Neptun Deep natural gas perimeter in the Black Sea, has launched an auction to contract several staff leasing firms, which will supply temporary employees for the project’s operations, business-review.eu informs. ExxonMobil wants to acquire services to provide temporary contractual staff, with specific roles, in support for the Neptun Deep project from ...
Minister Anton: National Energy System solid and viable, conditions in place for Romania to become energy exporter
Thursday, May 17, 2018
The National Energy System is solid and viable and all conditions are in place for Romania to become an exporter of energy, Energy Minister Anton Anton on Monday told the Chamber of Deputies plenary at the government's question time. "Romania is part of the Energy Union's creation and development process and sets its sights on becoming: a) a regional energy security pole, not just an outlet market; b) a transport node interconnecting European Union countries ...
Oradea-Bekescsaba aerial power line worth rd 18 million euro unlocked after 10 yrs
Thursday, May 17, 2018
The project of the Oradea-Bekescsaba 400 kV aerial power line worth over 83 million lei (rd 18 million euro) was unlocked after 10 years, and the Romanian gov't has adopted a Decision that allows the finalisation of the expropriation procedures, on Friday announced the The National Power Grid Company Transelectrica, the project's developer, in a press release."This HG [Government Decision, ed. n.] allows the finalisation of the 400 kV Aerial Power Line (EAL) ...
Nuclearelectrica Q1 net profit jumps on higher power sales
Thursday, May 17, 2018
Nuclearelectrica, the operator of Romania's sole nuclear power plant Cernavoda, said on Friday its first-quarter net profit rose 51.7% on the year to 189.9 million lei ($48 million/41 million euro) on the back of increased electricity sales, seenews.com informs. EBIT rose by 44.4% year-on year, while EBITDA increased by 25.1%, mainly due to the increase of the operating income by 15% influenced by the rise in energy sales, Nuclearelectrica said in an interim financial ...
PRIMARY ENERGY RESOURCES AND ELECTRICITY BALANCE down 9.2 percent in Q1
Thursday, May 17, 2018
- In the first quarter 2018, primary energy resources increased by 5.4%, while those of electricity increased by 0.5% as compared to the same period of previous year. Romania's energy industrial consumption decreased by 9.2 percent in the first trimester of the year as compared to the same period of last year, namely 2.9 billion kWh, according to data released on Friday by the National Institute of Statistics (INS)."The final ...
Overhead electricity of 400 kV between Resita and Pancevo (Serbia) will be inaugurated next week
Thursday, May 10, 2018
The construction works of the Overhead Electricity (LEA) 400 kV for the interconnection Resita (Romania) –Pancevo (Serbia) were finalised, the national company for electricity transport Transelectrica will inaugurate the investment of 81.39 million lei on Tuesday 15 May. The Romanian part of LEA 400 kV Resita – Pancevo is made in the variant double circuit and crosses 11 localities in the Caras-Severin county: Re?i?a, Ezeri?, ...
EU probes Romania aid to national uranium company
Thursday, May 10, 2018
European Union anti-trust regulators are investigating whether Romania has broken state aid rules in its rescue of the troubled National Uranium Company, tampabay.com informs. Romania notified the European Commission last year of a plan to restructure the CNU, which produces raw material to fuel nuclear plants, with around 95 million euros ($113 million) in grants, subsidies and debt write-off. That's on top of a 2016 loan of ...
Deloitte: Romania to no longer import gas from Russia after Black Sea production starts
Thursday, May 10, 2018
Romania will no longer need gas imports from the Russian Federation after natural gas extraction begins in the Black Sea, and the country could jump to the first place among European countries with the lowest dependence on energy imports, Deloitte Senior Expert Razvan Nicolescu told a news conference on Monday.Deloitte launched a study called "The contribution of Black Sea hydrocarbon exploration and production projects to the development of the Romanian economy," ...
Romanian nuclear reactor refurbishment to cost EUR 1.2-1.5 bln
Thursday, May 10, 2018
The first reactor of Romania’s Cernavoda nuclear power plant will be shut down for refurbishment in 2026 and the whole process will cost EUR 1.2-1.5 billion, according to Romeo Urjan, the head of the Technical and Refurbishment Department within Nuclearelectrica, the state company that operates the power plant, romania-insider.com informs. The reactor, which started operating in 1997, has a lifespan of 210,000 functioning hours, which is about 30 ...
Oil investments in Black Sea to bring 26 billion dollars to state budget
Thursday, May 10, 2018
Investments in the hydrocarbon sector in the Black Sea will generate revenues for the state budget of 26 billion US dollars, and a plus of 40 billion for Romania's GDP, until the year 2040, according to a study done by Deloitte, at the request of the Romanian Association of Black Sea Offshore Concessionaires (ARCOMN).The largest sum, namely 9,5 billion dollars, will be represented by companies' income tax. Out of the VAT and excises will bring in 3,7 billion ...
Nuclearelectrica is negociating with the Chinese partners for the projects for unit 3 and 4 of the Cernavoda unit
Thursday, May 10, 2018
The general manager of Nuclearelectrica Cosmin Ghita stated on Friday in a press conference in Cernavoda that for the moment the company is in a stage of negotiation of the contract for the development of units 3 and 4 of the Nuclear Centra in Cernavoda with the Chinese partners. ‘With regard to units 3 and 4 we are for the moment in negotiation with our Chinese partners,we have received a new mandate of 6 months for ...
Eurostat: Romania posts 7th highest increase of CO2 emissions among EU member states in 2017
Thursday, May 10, 2018
Romania recorded the 7th highest increase of carbon dioxide (CO2) emissions among the 28 European Union member states in 2017, of 6.8 percent compared with the previous year, but remains a small polluter on the continent, Eurostat data show quited by business-review.eu. In 2017, CO2 emissions from fossil fuel combustion increased by 1.8 percent in the European Union, compared with the previous year. CO2 emissions rose in ...
Transelectrica gets first tranche of EU grant for electricity line
Thursday, May 10, 2018
Romanian power grid operator Transelectrica [BSE:TEL] said on Friday it has received the first tranche of 2.2 million euro ($2.63 million) of a 27 million euro grant from the European Commission (EC) to build a new electricity line. The funds will be used to start the construction of a 400 kV line between Cernavoda and Stalpu, Transelectrica said in a statement filed with the Bucharest Stock Exchange, BVB. The project will ...
Romania ranks 3rd among the best European countries for value for petrol
Thursday, May 10, 2018
Romania comes in third place as the European country with the best value for petrol, according to Europe’s Fuel Price Index which has combined the average fuel prices for 29 countries in Europe with fuel consumption data to reveal the European country where you can drive the ...
Net profit of 854 million lei for OMV Petrom in Q1, similar investments
Thursday, May 10, 2018
OMV Petrom announced a net profit of 854 million lei, in the first quarter of this year, up 38% compared to the first quarter of 2017, energynomics.ro informs. The operating result increased to almost one billion lei (958 million lei) with a contribution of the Upstream segment of about two-thirds in the total. The Upstream segment benefited from rising prices for crude oil and natural gas, which counterbalanced the decline in production and the ...
Cernavoda NPP Unit 1 is disconnected from grid for 30 days
Thursday, May 3, 2018
Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, said on Friday that one of the plant's two units to be disconnected from the grid on the night of May 2 as part of scheduled inspection and maintenance works, seenews.com reports. The duration of the planned outage is approximately 30 days, in compliance with the preventive and corrective maintenance works that need to be performed during this period, the company said in a statement on ...
Romanians could pay more for fuel, as oil prices soar
Thursday, May 3, 2018
As oil prices reached USD 75 per barrel, the highest level in four years, the price of fuel is expected to rise this summer, business-review.eu informs. According to experts, this is a long-term trend, the Financial Times reports. According to FT, the main reason for the expected increase in prices is the tightening of the markets over the past 18 months. The inventories of crude oil that had built up during 2014-16 have largely been worked off because of strong demand driven by a ...
Production cost of renewable energy now ”lower” than fossil fuels
Thursday, May 3, 2018
For the first time in history, the production cost of renewables is lower than that of fossil fuels, an industry asset manager has claimed, energynomics.ro informs. In a recent note to its clients, Hamburg, Germany-based Kaiserwetter Energy Asset Management, wrote that its “internal analysis” – based on data from Bloomberg, The Frankfurt School, Renewable Cost Database of the International Agency for Renewable Energy (IRENA) and UN Environment – puts fossil ...