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Energy & Environment
MOL Group Announces 2016 Q3 Results
Thursday, November 10, 2016
* MOL upgrades its 2016 clean CCS EBITDA guidance to around USD 2.2 bn * Upstream EBITDA is up 12% year-on-year, first increase since 2011 * Downstream was flat quarter-on-quarter after major maintenance in Hungary * Strong free cash flow generation of almost USD 1bn in Q1-Q3 Last ...
MOL Group Announces Financial and Operational Targets for 2017-2021
Thursday, November 10, 2016
* MOL to invest around USD 2bn in strategic projects in the next five years * Free cash flow to fully cover strategy investments and smaller M&As * MOL unveils details about the development directions in petrochemicals * Consumer Services to generate USD 450-500m EBITDA by 2021, or more than 20% of Group ...
Western energy investment in Moldova depends on election result
Thursday, November 10, 2016
Energy majors are lining up to obtain hydrocarbon exploration projects in Moldova but the outcome is dependent on the result of the upcoming presidential election, according to a former Romanian energy minister EurActiv Romania ...
Romania's OMV Petrom 9-mo cons EBIT down 14%, to cut 2016 investment by 30%
Thursday, November 10, 2016
Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Wednesday that its consolidated earnings before interest and taxes (EBIT) fell by 14% on the year to 1.13 billion lei ($278 million/251 million euro) in the first nine months, affected by the oil price drop, seenews.com reports OMV Petrom also said that it plans 30% lower investments for this year. The company's sales fell by an annual 14% to ...
OMV: Gas demand in Romania in 2016 below 2015 level
Thursday, November 10, 2016
Demand for gas in Romania will stay below the level recorded in 2015, while competition will be on the rise, including due to imports, according to OMV Petrom forecasts, business-review.eu informs. In addition, on the electricity market the demand will be relatively stable in 2016 compared to last year. The extra pressure on the prices and margins is also generatedby the recent amendments to the ...
Translectrica will provide assistance for the technical project of the Vulcanesti - Isaccea overhead power line
Thursday, November 10, 2016
Romania's national power grid operator Translectrica will provide assistance with the working out of the specifications for the technical project of the Vulcanesti - Isaccea overhead power line and of the back-to-back unit of the Vulcanesti 400 kV electrical substation, the company said in a release on ...
Nuclear Fuel Plant produced fuel rod no. 160,000
Thursday, November 10, 2016
The Nuclear Fuel Plant in southwestern Pitesti prodcued on Monday fuel rod no. 160,000, according to a press release of Nuclearelectrica. The ...
Transelectrica to provide assistance with project specifications for Vulcanesti - Isaccea overhead power line
Thursday, November 10, 2016
Romania's national power grid operator Translectrica will provide assistance with the working out of the specifications for the technical project of the Vulcanesti - Isaccea overhead power line and of the back-to-back unit of the Vulcanesti 400 kV electrical substation, the company said in a release on Friday. "The Institute for Power Studies and Engineering ...
Belarusian industrial gas producer now sells argon to Bulgaria, Romania, Moldova
Thursday, November 10, 2016
The Belarusian industrial gas producer BMZ-GKS, which was founded by Belarusian Steel Works (BMZ trademark) among other parties, started selling argon to Bulgaria, Romania, and Moldova in 2016, BelTA learned from Alexander Olesik, Press Secretary of the Belarusian steel manufacturer BMZ, ...
Bulgaria-Romania To Launch Gas Link on November 11
Thursday, November 10, 2016
The gas interconnector to Romania will become operational on November 11, stated PM Boyko Borisov at a meeting with his counterpart Aleksandar Vu?i?, novinite.com reads. Borisov called for the intersystem link between Serbia and Bulgaria to be completed as well, since it is vital for both countries. The interconnector with Romania will be the first one to ...
Under Paris Agreement Romania pledged 43 pct cut in GES emissions by 2030
Thursday, November 10, 2016
The Paris Agreement on Climate Change comes into force on November 4 after having been ratified by 72 countries, including Romania, which pledged to cut greenhouse gas emissions by 43 percent until 2030 compared to 2005 in non-ETS sectors such as transport, agriculture, construction and the management of waste emissions. Greenpeace Romania representatives ...
Fondul Proprietatea says Nuclearelectrica's project to build units 3 and 4, unfeasible
Thursday, November 10, 2016
Fondul Proprietatea (FP) considers that the project to build units 3 and 4 at the Cernavoda nuclear-power plant is not feasible and could be value destructive for Nuclearelectrica's shareholders if continued, given the current electricity market context, as well as longer term forecasts, Fondul Proprietatea said last Thursday in a press statement. "According ...
Azerbaijan, Romania discuss AGRI project
Thursday, November 10, 2016
The Azerbaijan-Georgia-Romania Interconnector (AGRI) project was mulled by Azerbaijan’s Energy Minister Natig Aliyev and Romania’s ambassador Dan Iancu in Baku, Azerbaijan’s Energy Ministry said Nov. 3, according to ...
Romania's final energy consumption was up by 0.7 percent in 2015 from 2014
Thursday, November 3, 2016
_ Primary energy production level in 2015 was about the same with that of 2014, while imports of energy products increased by ...
CEH needs the state aids for the mining and electricity production activities
Thursday, November 3, 2016
The Hunedoara Energy Complex (CEH) needs the state aids for the mining and electricity production activities, so it can function and cover the coal needed for thermal power plants, but also respect the labour agreement, new deputy director general Petre Nica told ...
Commission proposals on biofuels will damage Romania’s interests
Thursday, November 3, 2016
The change of EU policy on biofuels will undermine Romania’s potential to become one of Europe’s most important sources of clean renewable fuel, writes Laurentiu Rebega for EurActiv.com. Laurentiu Rebega is a Romanian politician and a member of the European Parliament with the Europe of Nations and Freedom Group (ENF). In 2009, the EU enacted the Renewable Energy Directive (RED). That legislation was intended to promote the use of biofuels as a clean ...
Solutions for producers of electricity from renewable sources, from the Ministry of Energy
Thursday, November 3, 2016
The Ministry of Energy has put into public debate the draft of the emergency ordinance for amending the Law 220/2008. The document is long awaited by the companies operating in electricity generation from renewable resources, given that the changes in primary and secondary regulation in recent years have drastically reduced the income of the producers. Repeatedly, the representative associations from the renewable energy industry have warned ...
Iohannis: Oltenia Energy Complex cannot avoid upgrading and downsizing
Thursday, November 3, 2016
President Klaus Iohannis said Friday in the southwestern city of Targu Jiu that the local Oltenia Energy Complex (CEO) cannot avoid upgrading and downsizing, because both are needed for it to continue ...
Europe’s energy intensive industry asks for 100% EUAs exemption
Thursday, November 3, 2016
Members of Central Europe Energy Partners (CEEP) are urging 100% free EU Emission Allowances (EUAs) for energy-intensive industries, such as chemicals, fertilizers, refineries, and steel, until 2030, as well as a 100% derogation for power plants that use new technologies with a 43% energy efficiency (lignite) and 45% (coal), reveals a release to energynomics.ro. Moreover, they request the strengthening of the beneficiary Member States’ control ...
Romania will import gas in proportion of 30 percent on national level in November
Thursday, October 27, 2016
Romania will import gas in proportion of 30 percent of the overall consumption on national level in November, but the population will use only domestic production gas, according to a document regarding the gas mix structure, published on the website of the National Regulatory Authority for Energy ...