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Energy & Environment
The contract for privatisation of the gas transporter Vestmoldtransgaz was signed in Kishinev, Transgaz being the new owner
Thursday, March 29, 2018
The privatisation contract of the gas transporter Vestmoldtransgaz of the Republic of Moldova was signed on Wednesday in Kishinev, Republic of Moldova. The National Company for the transport of natural gas Transgaz announced in February that the Agency for Public Propriety from the ministry of economy and infrastructure of the Republic of Moldova made public the fact that Eurotransgaz of Kishinev got the investment competition for the privatisation of the state-run ...
Romgaz: the activity of natural gas storage will be separate starting from 1 April
Thursday, March 29, 2018
The national company of natural gas Romgaz announces that, starting with 1 April a new branch will become operational and will manage the activity of natural gas storage.According to a press release of the company, the branch will be called SNGN Romgaz SA –the branch for the storage of natural gas Depogaz Ploiesti SRL.Underground storage of natural gas has a major role in ensuring the safety in the supply with natural gas,thus facilitating the ...
The Oltenia energy unit estimates a gross profit three times lower than in 2017
Thursday, March 29, 2018
The Oltenia energy unit, one of the biggest producers of energy in the country, estimates for this year a gross profit of 70,2 million lei, three times lower than in 2017. The company estimates that the average number of employees for this year will drop from 13,760 people to 13,165, 4.3% respectively, according to the project regarding the income and expenditure budget published under debate by the ministry of energy. The Oltenia ...
World Bank Hosts Event on Challenges and Opportunities for Smart Metering Implementation in Romania
Thursday, March 29, 2018
The World Bank Office in Romania, in partnership with the General Secretariat of the Government and the National Regulatory Authority for Energy, hosted a workshop dedicated to discussing options for rolling out smart metering in Romania. The event is organized in the framework of technical assistance to develop the capacity of Romania’s central public administration to carry out impact studies. All EU member states must achieve 80% installation ...
Greek paper: US and EU favoring Transgaz in DESFA tender in order to create alternative gas route
Thursday, March 29, 2018
The tender for the Greek natural gas network operator DESFA is put in a new lights as there is a common desire of the European Union and the United States to strengthen alternative routes for the supply of energy to Europe, sidestepping Russia, says ekathimerini.com quoted by ...
Transgaz signs construction contract for three gas compressor stations due under BRUA phase 1
Thursday, March 29, 2018
National gas transmission company Transgaz signed on March 23 the contract for the construction of the three gas compressor stations of 10 MW each provided for in the BRUA phase 1 project; according to the calendar, the order to kick off works will be signed on April 14, the Ministry of Economy said in a release.According to the document, the contract was won by a consortium of Romanian companies headed by INSPET SA Ploiesti. The value of the contract is 288.742 ...
Ukrtransgaz to assess demand on gas transit from Romania via Trans-Balkan pipeline
Thursday, March 29, 2018
Public joint-stock company Ukrtransgaz has launched the market demand assessment for entry capacities to Ukraine from Romania via Trans-Balkan pipeline, the company's press service has reported, interfax.com.ua informs. "Ukrtransgaz launches the non-binding assessment procedure to study the demand among the domestic and adjacent countries market players for firm capacities at the entry point of Isaccea-1-Orlivka (Transit-1 pipeline) in the direction of ...
Slovak producer of ferroalloys buys manganese mine in Romania
Thursday, March 29, 2018
he acquisition will guarantee manganese ore for the next 20 years at least, spectator.sme.sk reads OFZ, the Slovak producer of ferroalloys, has acquired the Vatra Dornei mine in northeastern Romania. The mine is a stable source of manganese ore at reasonable prices for OFZ’s core business – the production of ferroalloys. The investment will bring OZF an annual saving of about €0.5 million, ?ubo ...
Turkish company to supply EUR 126 mln pipes for BRUA pipeline
Thursday, March 29, 2018
Turkish company Toscelik Spiral Boru won on Wednesday, March 21, the EUR 126 million contract to supply steel pipes for the Romanian section of the BRUA gas pipe, ...
OMV Petrom estimates 7.5% profit increase this year
Thursday, March 29, 2018
Romanian oil and gas group OMV Petrom estimates a net profit of RON 2.58 billion (EUR 555 million) this year, up by 7.5% (in local currency) versus 2017, according to the group’s budget, romania-insider.com reads. The revenues for this year are estimated at RON 13.7 billion (EUR 2.94 billion), down compared to last year (RON 14.8 billion). The group built its budget on an average Brent oil price of USD ...
Szijjarto: Mass-media simplified information about contracting gas in Hungary from Black Sea
Thursday, March 29, 2018
Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto told a press conference on Thursday in central Targu Mures that the mass-media "has simplified the information" regarding the contracting of natural gas in Hungary from the Black Sea deposit exploited by OMV and Exxon Mobile."The situation is as follows, Transgaz Romania and FGSZ Hungary, the Hungarian equivalent of Transgaz, have announced a tender for the Romanian-Hungarian gas pipeline's capacity, ...
GC quota for Q1 2017, reduced by 30%; small players close to bankruptcy
Thursday, March 22, 2018
The PATRES Association of Renewable Energy Producers argues that the support scheme is collapsing, energynomics.ro informs. The mandatory quota of green certificates declined by 30% for the first quarter of this year, while half of green certificates in the market cannot be capitalized, and producers’ losses are rising. Thus, PATRES “makes a last appeal to the Chamber of Deputies’ Industry and Services Commission for the adoption of ...
January gas imports down 28.7pct; production declines 3.7pct
Thursday, March 22, 2018
Romania imported 202,200 tonnes of oil equivalent (toe) worth of usable natural gas in January 2018, by 28.7 percent (81,400 toe) less than in the same period of 2017, show figures centralised by the National Institute for Statistics (INS).The domestic natural gas production exceeded 737,000 toe in the mentioned period, by 3.7 pct (5,000 toe) below the value registered in the same period of 2017.Under Romania's Energy Strategy posted on the website of ...
Kazakhstan’s KMG seeks to sell stake in Romanian unit to CEFC by end-June
Thursday, March 22, 2018
Kazakhstan’s KazMunaiGas has postponed until the end of June 2018 the sale of 51 percent of its Romanian business KMGI to China’s CEFC, the company told Reuters, business-review.eu informs. In December 2016, KMG and CEFC signed an ...
Energy Ministry issues decision to start works on BRHA pipeline
Thursday, March 22, 2018
The Ministry of Energy has issued the decision to start the works on the BRHA pipeline, a release from the ministry on Wednesday reads, romaniajournal.ro informs. The ministry informs that, as competent authority for energy infrastructure, has issued on March 21 the exhaustive decision regarding the BRHA pipeline, a new natural gas corridor to interconnect Bulgaria, Romania, Hungary and Austria. This step will allow Transgaz to start the ...
Romania's crude imports at over 722,000 toe this January
Thursday, March 22, 2018
Romania's crude imports this January amounted to 722,000 toe, up by 7,900 toe (1.1 percent) from the same period of the year before, the National Institute of Statistics (INS) announced. The country's crude output in the respective month was of 284,600 toe, down 3.7 percent (10,900 toe) YoY. Under Romania's Energy Strategy posted on the website of the Energy Ministry, the country's production of crude will continue to slowly decrease to some 2 million toe in ...
OMV Petrom CEO change becomes effective on May 1
Thursday, March 22, 2018
Scottish manager Christina Verchere will take over as President of the Executive Board and Chief Executive Officer (CEO) of OMV Petrom on May 1, 2018, romania-insider.com. She replaces Romanian Mariana Gheorghe, who will end her mandate at the helm of OMV Petrom on April 30. The move was already approved by the company’s Supervisory Board ...
Romgaz estimates gross profit of RON 1.6 bln for 2018, down by 27 pct
Thursday, March 22, 2018
Romgaz estimates a gross profit of RON 1.6 billion for 2018, a decrease by 27 percent compared with the preliminary data of the indicator for 2017, RON 2.1 billion, according to the budget, which will be discussed in the General Meeting of Shareholders from March 29, business-review.eu reads. The revenues will drop by 8 percent up to RON 4.5 billion, while the expenses will be higher by 6 percent and will reach to RON 2.9 ...
Fordaq: Natural gas export to keep population captive and without alternative to wood-based heating
Thursday, March 22, 2018
The Romanian state is preparing to allow the export of gas resources and this resource of Romania will be exported to the detriment of the population, who will remain captive and without alternative to wood-based heating, draws the attention the representatives of Fordaq - the Community of Timber Merchants, in a press release issued on Monday. "What is happening in Romania is an economic, social and environmental disaster, the result of an ...
KMG International sees record results in 2017
Thursday, March 22, 2018
Oil group KMG International, which operates the biggest oil refinery in Romania, reached record results in 2017. The group’s operational result (EBITDA) went up by 20% compared to 2016, to USD 242 million. The net profit also increased six fold compared to 2016, to USD 80 million. The group’s gross turnover reached over USD 9.5 billion, up by 36% versus 2016. The improved operational and financial results also helped ...