RSS
Energy & Environment
Romania imported 3.317 million toe of crude oil în Q1 of 2017
Thursday, August 17, 2017
In Q1 of 2017 Romania imported 3.317 million toe of crude oil, by 415,200 toe (11.1 pct) lower than the quantity imported in the same period of 2016, according to data centralized by the National Institute of Statistics (INS). The crude oil production totaled 1.72 million toe, by 4.6 pct (83,100 toe) lower than in January-June 2016. According to the Energy Strategy project, published on the website of the Ministry of Energy, it is ...
Romania's Nuclearelectrica H1 profit soars on higher output, sales
Thursday, August 17, 2017
Nuclearelectrica, the operator of Romania's sole nuclear power plant Cernavoda, said on Friday its first-half net profit leapt to 133.7 million lei ($34.2 million/29.2 million euro) from 1.73 million lei in the year-ago period driven by increased electricity output and sales, seenews.com informs. The company's results for the first half of the year were influenced by a 5.5% rise in electricity produced by Cernavoda NPP to 5.06 GWh, given the ...
Romgaz posts rise in H1 net profit on higher gas, electricity sales
Thursday, August 17, 2017
Romanian natural gas producer Romgaz [BSE:SNG] said on Friday its first-half net profit surged 41.1% year-on-year to 868 million lei ($222 million/190 million euro) on the back of higher gas and electricity sales and lower expenses, seenews.com informs. The company’s financial performance was mainly helped by a 25.1% rise in gas sales to 1.79 billion lei in the first half of 2017 and by a 115% year-on-year jump of electricity sales to 264.9 ...
Rompetrol Rafinare invested USD 27 million at a constant level of business in H1 2017
Thursday, August 17, 2017
Rompetrol Rafinare, a KMG International group member company, registered a gross consolidated turnover worth USD 1.7 billion in the first half of 2017, a level comparable to that from the same period in 2016, the company said în a statement sent to ACTMedia. EBITDA operational profit amounted to USD 57.5 million, down by 36% compared to the same period in 2016, in the context of a 17% drop in refining margins in H1 2017 ...
PRIMARY ENERGY RESOURCES INCREASED BY 2.0% IN THE FIRST HALF OF 2017
Thursday, August 17, 2017
- In the first half of 2017, primary energy resources increased by 2.0%, while those of electricity ...
OMV Petrom announced that they will sell, again ores owned in Romania
Thursday, August 17, 2017
OMV Petrom, the oil and gas company initiatied a new round of ore sale, after transferring 19 ‘marginal’ ores on 1 August announced the general manager Mariana Gheorghe, at the same time with sending the financial results to the BVB. ‘On 1 August there was a transfer of 19 marginal ores. In agreement with our strategy of value over volume we initiated a new round of ore sale’ the data sent to BVB ...
KMGI to expand petrol station network in Romania, Bulgaria
Thursday, August 17, 2017
KMG International (KMGI), part of Kazakhstan’s state oil and gas company, KazMunayGaz, plans to open more gas stations in Romania and Bulgaria and is looking for acquisitions in central Europe once its legal problems are resolved, Alexey Golovin, KMGI strategy and corporate development vice president told in an interview for Reuters, capital.ro informs. According to him, the company aims to increase its share of Romania’s petrol station ...
OMV Petrom’s profit, almost three times larger against last year
Thursday, August 17, 2017
The profit registered by OMV Petrom Group has almost tripled in the first half of 2017 against the similar period last year, the group’s report released on Thursday informs, quoted by romaniajournal.ro. Thus, the OMV Petrom profit has reached RON 1.21 billion in H1 against RON 408 million in H1 2016. Mariana Gheorghe, CEO of OMV Petrom S.A. said: “In the first six months of 2017, we converted favourable market ...
EBRD mulls $23.4 mln equity investment in Romania's Black Sea Oil & Gas
Thursday, August 17, 2017
The European Bank for Reconstruction and Development (EBRD) said on Wednesday it is considering a $23.4 million (19.9 million euro) equity investment in Romania-based Black Sea Oil & Gas (BSOG), seenews.com informs. BSOG is the operator of the Romanian offshore Blocks Pelican XIII and Midia XV containing the Ana and Doina gas discoveries. "The project will support the development of the concession, to finalise the commercial ...
Romanian government to increase price of Diesel fuel, gasoline to make up for excise losses
Thursday, August 10, 2017
The Romanian government is planning to increase the price of Diesel fuel and gasoline by a minimum of RON 0.40 per litre in order to compensate excise revenue losses of RON 768 million in the first semester of 2017, business-review.eu reads. Taxes represent 50-52 percent of the cost of Diesel fuel and gas. The proposed changes are included in a draft ordinance to amend the Tax Code. According to the draft project, the ...
Transgaz participates in the acquisition of the Greek company DESFA
Thursday, August 10, 2017
Romanian Transgaz, the natural gas transmission system operator, has submitted a joint letter of intention together with French GRTgaz for the acquisition of a 66 percent stake in Greek DESFA, the operator of the gas distribution network, according ...
MOL GROUP UPGRADES ITS 2017 TARGET FOLLOWING OUTSTANDING HALF YEAR RESULTS
Thursday, August 10, 2017
MOL Group upgrades its 2017 EBITDA guidance to above USD 2.3bn as a result of strong H1 delivery Clean CCS EBITDA reached HUF 371bn (USD 1.3bn) in H1 2017, with increased contribution from all business segments Downstream and Consumer Services posted all-time high H1 results, while Upstream significantly increased its contribution Net profit was HUF 183bn ...
Romania’s mineral resources agency endorses Rovina Valley project
Thursday, August 10, 2017
The Romanian National Agency for MineralResources has endorsed ...
Hidroelectrica to float a 10pct-stake for starters
Thursday, August 10, 2017
Officials want to float a 10pct-stake in Hidroelectrica for starters, and then a further 5pct-stake, but to start the process the conclusions of the brokering consortium are expected, Energy Minister Toma Petcu told a news conference on Friday. "We will pass, as soon as possible, a government decision that will modify one thing: the percentage of the listing. ...
This July, over 21.5 million euro collected from trades in greenhouse gas allowances
Thursday, August 10, 2017
The state collected this July over 21.5 million euro from trades in greenhouse gas allowances for fixed installations performed on the EU dedicated common auction platform, the Ministry of Public Finance (MFP) announced on its ...
Minimum stocks of crude oil and petroleum products for 2017 have been set at 1.31 million toe
Thursday, August 10, 2017
The minimum stocks of crude oil and petroleum products for 2017 have been set at 1.31 million tonnes of oil equivalent (toe), according to a draft government decision put up for public discussion by the Energy ...
Melescanu: Kazahstan is the most important economic partner of Romania in Central Asia: energy, the main pillar of the relations
Thursday, August 3, 2017
Kazahstan is the most important economic partner of Romania in Central Asia and energy is the main pillar of the economic relations between the two countries, stated on Friday the Romanian minister of foreign affairs, Teodor Melescanu, after the meeting with his Kazahstan counterpart, Kairat Abdrakhmanov. ‘The energy is the main pillar of our economic relations. The energy is the key to any modern economy, while diversification – the basis ...
Minimum stocks of crude oil and petroleum products for 2017 have been set at 1.31 million toe
Thursday, August 3, 2017
The minimum stocks of crude oil and petroleum products for 2017 have been set at 1.31 million tonnes of oil equivalent (toe), according to a draft government decision put up for public discussion by the Energy ...
EurActiv: Dawn of new EU emissions rules could sound death knell for coal power
Thursday, August 3, 2017
New EU rules formally agreed on Monday (31 July) mean power plants will have to cut pollutants, with the cost of compliance estimated to be over €15bn. According to euractiv.com, environmental groups predict that the logical next step is widespread closures of the most polluting coal-powered plants. Europe’s power plants will have to cut pollutants such as nitrogen oxide, mercury and particulate matter under new rules that were approved ...
Greenpeace: the thermal power stations on coal in Romania are outdated and inefficient
Thursday, August 3, 2017
In the next four years, the thermal power stations of Romania will have to invest millions of euro to modernise the systems of purifying the burning gases and the residual waters, shows Greenpeace, in a press release which considers that the thermal power stations on coal are outdated and very inefficient. Romania has two big state-run companies which produce electricity on coal: The Oltenia unit – on lignite and the Hunedoara unit on ...