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Energy & Environment
Hidroelectrica re-launches the EUR 80 M bid for Vidraru complex upgrading
Thursday, February 22, 2018
Romanian state-controlled hydropower producer Hidroelectrica re-launched the EUR 78.9 million tender for upgrading the Vidraru complex on the Arges River, and includes both the design and the works execution, romaniajournal.ro informs. Hidroelectrica published the new tender for the refurbishment of the Vidraru Hydro-Power Plant (HPP), consisting of a storage lake and a hydroelectric power plant, at the end of last week ...
Nuclearelectrica 2017 net profit up almost threefold from previous year
Thursday, February 22, 2018
National Company Nuclearelectrica closed 2017 with a net profit of 303.05 ml lei, almost three times higher than the 111.367 ml lei posted in 2016, shows financial data released by the Bucharest Stock Exchange (BVB).Earnings before interest, tax, depreciation and amortization last year stood at 858.64 ml lei, up 37.9 percent from 2016. Operating revenues amounted to 1.933 bln lei (plus 15 percent), and operating expenses were 1.074 bln lei (plus 1.6 ...
EC: Romania, interested in joining the Southern Gas Corridor project
Thursday, February 22, 2018
Implementation of the Southern Gas Corridor project will make Europe stronger than before, European Commission Vice-President for Energy Union Maros Sefcovic said. Sefcovic made the remarks at a press conference in Baku Feb. 15 following the Fourth Ministerial Meeting of the Southern Gas Corridor Advisory Council. He said 2018 will be a special period in implementation of the Southern Gas Corridor ...
Rompetrol Rafinare - USD 22 million net profit and historical production records in 2017
Thursday, February 22, 2018
Rompetrol Rafinare, a KMG International Group member, has once again confirmed its profitability in 2017, obtaining a net consolidated result of approximately USD 22 million, in the context of historical production records accomplished by the Petromidia Navodari refinery and by the Vega Ploiesti refinery. “The Petromidia Refinery has reached last year a new historical daily processing record since the incorporation of the industrial platform ...
Energy Minister: Romania to align to European standards in its own time, we are not filler of EU
Thursday, February 22, 2018
Romania cannot renounce the production of energy based on coal and our thermal power plants will line up in their own time to the environment requirements of the European Union, and not quite as fast as officials in Brussels request, Energy Minister Anton Anton told Agerpres in an interview.He showed that the representatives of the European Commission intend to tighten over night the requirements regarding contaminants in thermal power plants and highlighted that ...
MOL Romania opens its first electric car charging station in Bucharest
Thursday, February 22, 2018
MOL Romania has opened its first charging station for electric vehicles, in the Nicolae Caramfil area in Bucharest, business-review.eu informs. Charging will be done through alternating and direct current at 50 kW, meaning that the station is compatible with any type of vehicles sold in Europe and Asia, electric or hybrid. The station supports the simultaneous charging of two cars, and depending on ...
Fondul Proprietatea isn't waiting for Hidroelectrica listing to happen this year
Thursday, February 15, 2018
Fondul Proprietatea (FP) isn't waiting for Hidroelectrica listing to happen this year, as the process entails a series of steps, among which electing a fully-mandated supervising board, Franklin Templeton Investments CEO and Fondul Proprietatea Johan Meyer said on Wednesday."We're not waiting for a listing of Hidroelectrica to happen, as a matter of fact, what to want to actively engage in this process, but unfortunately, for various reasons, it hasn't taken place, and really a ...
Oil Terminal, net profit down 67 percent, to 5.09 million, in 2017
Thursday, February 15, 2018
Oil Terminal will yield a net profit of over 5.09 million lei, down 66.9 percent as compared to 2016, according to unaudited financial reports posted by the Bucharest Stock Exchange (BVB) on its website. "For 2017, an amount of 25.384 million lei is provided for investment spending at the level of the investment funding source (respectively 25.384 lei), of which reimbursement of investment loans amount to 1.815 million lei and investment spending worth 23.569 million lei. On ...
Investments in wind energy down 19 pct in EU in 2017
Thursday, February 15, 2018
Expenditure for new production capacity for wind energy in Europe has decreased by a fifth in 2017, down to the lowest level in the past three years, according to WindEurope quoted by business-review.eu This is viewed as a sign that the sector is reducing costs and becoming more efficient as governments cut back subsidies. According to WindEurope annual report, investments in new onshore and offshore wind projects in the EU decreased by 19 percent last year, to EUR 22.3 ...
Transgaz, Eustream sign MoU on development of Eaststring on Romanian and Slovakian territory
Thursday, February 15, 2018
The Transgaz National Gas Transport Company and Slovakian similar company, Eustream announced the signing of a memorandum of understanding regarding the development of the Eastring gas transport corridor on the two countries' territories, according to a press release of Transgaz sent to the Bucharest Stock Exchange (BVB) on Monday.The memorandum was signed by the General Manager of Transgaz, Ion Sterian and Rastislav Nukovic, General Manager of Eustream.By signing the ...
PRIMARY ENERGY RESOURCES INCREASED BY 3.3% IN 2017
Thursday, February 15, 2018
- In 2017, primary energy resources increased by 3.3%, while those of electricity decreased by 3.4% as compared to 2016. Romania's national electricity consumption last year dipped 0.4 pct to 54.62 bln kWh, as public lighting dropped 7 pct and household consumption also decreased 5.1 pct, the National Institute for Statistics (INS) said on Monday.Primary energy resources January 1 through December 31, 2017 totaled 34.2 ml tons of oil equivalent (toe), up by ...
ANRM issues order establishing gas reference price be calculated depending on Vienna stock exchange
Thursday, February 15, 2018
The National Agency for Mineral Resources (ANRM) issued on Friday the order establishing that the reference price for natural gas extracted in Romania, depending on which the royalty owed by producers to the state budget will be calculated, will take into account the quotations of the Vienna CEGH stock exchange, according to a pres release of the institution.The order was sent for publication to the "Monitorul Oficial" (Official Journal) and will enter into force starting with ...
Netherlands want to reach renewables target with huge Romania project
Thursday, February 15, 2018
Dutch–registered company Nero Renewable is planning a 1,000 MW renewable project in Romania, in two large wind parks, which would make it the largest such project in Romania, ...
2020 is a realistic term for constructions start for reactors 3 and 4 of Nucleary Station Cernavoda
Thursday, February 15, 2018
State secretary in the Energy Ministry, Robert Tudorache, estimates 2020 to be a realistic time limit for the constructions start for reactors 3 and 4 of Nucleary Station Cernavoda by the Chinese investor, business-review.eu reads. Tudorache says that he aims for the negotiation phase with the investor to end in six months and that once overpass this phase, works could start up to 2020.“We have already solved somewhere around 80 percent of the elements of ...
Spanish group Gas Natural Fenosa seeks buyer for its electricity distribution in the Republic of Moldova
Thursday, February 15, 2018
The Spanish group Gas Natural Fenosa officially announced that it has begun the procedures for the sale of its assets in the Republic of Moldova, energynomics.ro reads. The transaction is generously estimated at about 500 million euros by the Spanish website http://www.eleconomista.es. The company is ...
European Parliament rubber-stamps EU carbon market reform
Thursday, February 8, 2018
European lawmakers voted in favour of a deal to reform the EU’s carbon market after 2020 on Tuesday (6 February), as well as bolstering prices in the bloc’s flagship tool for reducing greenhouse gas emissions, euractiv.com reports. The new rules for the EU’s Emissions Trading System (ETS) were agreed in November after months of negotiations between the European Parliament and EU member states but still needed official approval by the Assembly. 535 were in ...
Transgaz estimates investments of over 6 billion lei until 2020
Thursday, February 8, 2018
The Transgaz National Gas Transport Company is running a number of nine development projects worth 1.62 billion euros by 2026, said on Monday the general manager of the company, Ion Sterian, on the occasion of the 10th anniversary of the listing of Transgaz on the Bucharest Stock Exchange (BVB)."Seven of the projects are within the country, and two projects are international and can turn Transgaz into the first Romanian company with majority state capital in a multinational one ...
Romania lost RON 7bn, as the reference price of petroleum royalties hasn’t been updated since 2008
Thursday, February 8, 2018
The state budget has lost revenues of RON 7 billion during 2010-2015, because the reference price of gas, on which the petroleum royalties are calculated, has not been updated since 2008, as two checks conducted by the Court of Auditors reveal, National Agency for Mineral Resources (ANRM) adviser, Dorinel Ursarescu, has said on Wednesday. ANRM organised a public debate on Wednesday on the issue of updating the natural gas reference price, on which the petroleum royalties due to the ...
National Agency for Mineral Resources could set natural gas levies after Austria natural gas stock prices
Thursday, February 8, 2018
The National Agency for Mineral Resources (ANRM) launched in public debate a draft order for the modification of the methodology for establishing the reference price for natural gas, according to which the levies due to the state budget by the producers are calculated, which take into account the gas price at the Austrian stock exchange, business-review.eu reads. The reference price of natural gas extracted in Romania is set monthly, taking into account a formula that includes the ...
Romania to deliver quantities of natural gas to Hungary starting 2020
Thursday, February 8, 2018
Romania will finish the necessary investments to export natural gas to Hungary by 2020, according to an agreement signed on Monday by the foreign ministers of the two countries. Great quantities of natural gas extracted from the Black Sea will be delivered to Hungary, starting with 2020, announced visiting Hungarian Foreign Minister Peter Szijjarto. The Hungarian companies have already ordered the entire capacity of 4.4 billion cubic meters per year of the supply pipeline ...