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Energy & Environment
Statistics: Oil imports up by 15.2pct, production down by 4.1pct January through May
Thursday, August 4, 2016
Romania imported in the first five months of 2016 some 3.147 million tonnes of oil equivalent (toe) by 414,500 toe (15.2pct) more than the one imported in the similar period of 2015, according to centralized data released by the National Institute of Statistics (INS). The oil production totaled 1.509 million toe, being by 4.1pct (63,900 toe) smaller than the ...
MOL Group Completes Acquisition of Eni’s Downstream Oil Business in Hungary
Thursday, August 4, 2016
* Acquisition provides excellent growth opportunity with good retail positions in Budapest and highways * Deal fully in line with MOL Group’s strategy of retail expansion and further downstream integration * Retail network expansion further strengthens MOL Group’s leading role in CEE * In the last two years, MOL Group acquired around 450 filling stations across 5 ...
EurActiv:Three reasons to repurpose the Energy Union
Thursday, August 4, 2016
* The Energy Union is great on paper, but so far the European Commission has failed to provide it with a modern, engaging vision. Eckart Würzner sees three key reasons why the executive should do so and how it can achieve it, EurActiv.com reads. Dr. Eckart Würzner is the mayor of Heidelberg and president of Energy Cities. It has been a month since the UK’s vote to leave the EU sent political ...
US energy envoy: North Stream 2 could resurrect cold war divisions
Thursday, August 4, 2016
The controversial North Stream 2 gas pipeline project has the potential to resurrect cold war divisions in Europe, US Energy Envoy Amos Hochstein said, before calling for greater competition with Russia’s Gazprom through increased LNG imports. Amos Hochstein is US Special Envoy for International Energy Affairs. He spoke to EurActiv Slovakia. What do you do? I am the ...
Bihor: unit for the production of electricity out of biomass, unique in the country, finalised with European funds
Thursday, July 28, 2016
The installation for the production of electricity out of biomass in Sacuieni has become functional by the finalisation of a unique project at the level of public authorities in Romania, developed with European funds by the Association for the intercommunity development (ADI)Ecoland Bihor made up of the Bihor County council, the Sacuieni Townhall and the Diosig hall. ‘Our project is unique in the country. It is the only public authority in the ...
KazMunayGas sent the Government a notification demanding the start of consultations with the Romanian state
Thursday, July 28, 2016
KazMunayGas sent the Government on July 25 a notification demanding the start of consultations with the Romanian state in the matter on the lien placed on the company by judiciary authorities, the Government's spokesman Liviu Iolu said in a Wednesday's briefing at Victoria ...
Repower sells Romanian operations to Swiss MET Group
Thursday, July 28, 2016
Swiss energy group Repower said on Tuesday it has sold its Romanian operations to Swiss-based commodity trader MET Group, which is focused in the European natural gas, power and oil markets, for an undisclosed sum, seenews.com reports. The decision follows Repower's announcement in December 2015 regarding the realignment of its business model to focus on the Swiss and Italian markets, it said in a statement. The deal is expected ...
Bilateral cooperation agreement in electricity, initialed between Moldelectrica, Transelectrica
Thursday, July 28, 2016
Romania and Moldova have initialed, through IS Moldelectrica and Transelectrica, the bilateral cooperation agreement in electricity, including also investment to upgrade and develop electricity infrastructure in Moldova, according to a press release of the Ministry of Economy, Trade and Relations with Business Environment (MECRMA). "Yesterday [Tuesday, July 26, 2016] Chisinau hosted the meeting of the Joint Working Group on Energy within the ...
Grants for projects of cutting the greenhouse gas emissions
Thursday, July 28, 2016
The energy producers who are unfolding projects for cutting the greenhouse gas emissions and production modernization, included in the National Investments Plan (PNI) could apply for receiving 25pct of the value of the eligible expenditure, a communique by the Government informs. For the 29 investments approved within the said PNI, only three ...
Sentences Upheld in Petromservice Embezzlement Case
Thursday, July 28, 2016
Romania’s Court of Appeals upheld on last Friday the prison sentences of Romanian labor leader Liviu Luca and media mogul Sorin Ovidiu Vantu over a $US 92 million embezzlement scheme, occrp.org ...
Nuclearelectrica approves 166 ml euro worth of plan to expand Cernavoda used fuel storage capacity
Thursday, July 28, 2016
The shareholders of National Company Nuclearelectrica approved in their sitting this week the expansion of the intermediary spent fuel storage facility, under a project worth 166 million euros (749 million lei) VAT included, company documents said. Nuclearelectrica representatives said the project is necessary to extend the service life of Reactors 1 and 2, ...
Bulgaria Says Gas Link with Romania to Be Completed in Autumn 2016
Thursday, July 28, 2016
Bulgaria will have its gas interconnection with neigbouring Romania completed in the autumn, Energy Minister Temenuzhka Petkova has said quoted by novinite.com. Petkova and her Romanian counterpart Victor Vlad Grigorescu on Saturday inspected the site of the construction of the underwater section of the gas link at Marten, in Ruse Region on the Bulgarian bank of the Danube. "All ...
Transgaz and Ukrtransgaz sign interconnection agreement for Transit 1 Isaccea-Negru Voda pipeline
Thursday, July 28, 2016
In order to facilitate cross-border gas flows and provide free and non-discriminatory access to the natural gas transmission infrastructure, Romania's National Gas Transmission Company Transgaz and the Natural Gas Transmission System Operator of Ukraine - Ukrtransgaz on Wednesday signed the Interconnection Agreement for the Interconnection Point 'Isaccea' located at the Ukrainian - Romanian border near Orlovka, Ukraine and near Isaccea, Romania, informs a Ukrtransgaz ...
Romania's Nuclearelectrica extends talks with China's CGN for new NPP units
Thursday, July 28, 2016
Nuclearelectrica, the operator of Romania's sole nuclear power plant (NPP) Cernavoda, said on Thursday it has extended negotiations with China General Nuclear Corporation (CGN) for the construction of reactors 3 and 4 until end-August, seenews.com informs. The agreement regarding negotiations extension also includes the possibility of each party to cease the memorandum of understanding without any compensations in case an agreement is ...
The offshore drilling safety law was promulgated
Thursday, July 28, 2016
President Klaus Iohannis on Thursday signed a decree promulgating an offshore drilling safety law, under which a regulatory authority for offshore drilling in the Black Sea is also established. The law tram slates to the national legislation European regulations that regard the minimum requirements to prevent major oil drilling incidents and to contain any such incident that may occur in the Black Sea area under Romania's ...
Court of Accounts compels Romgaz to recover 160 million lei prejudice from illegal gas sales
Thursday, July 21, 2016
The Court of Accounts found out following investigation at Romgaz that the producer had sold gas of over 160 million lei disregarding the law. The court asked the company to recover the prejudice, as shown by the report summoning the General Assembly of Romgaz Shareholders on August 11. “According to subjective and wrong interpretations of the law by auditors of the Court of Appeal, the decision compels Romgaz to take measures and recover money ...
Romania signs back-up gas link agreements with Bulgaria, Ukraine
Thursday, July 21, 2016
Romanian, Bulgarian and Ukrainian gas transmission system operators signed on Tuesday interconnection agreements for a back-up gas link under the Danube river, the European Commission said. The gas network operators of Bulgaria and Greece signed a similar interconnection agreement in June. "These agreements are a crucial step towards opening the Trans-Balkan pipeline system between Greece and Ukraine to transport gas and trade ...
Romania's Romgaz signs 191.6 mln lei (42.8 mln euro) contract with E.ON Energie
Thursday, July 21, 2016
Romanian natural gas producer Romgaz said on Tuesday it has signed a contract worth 191.6 mln lei ($47.3 million/ 42.8 mln euro) with a local unit of German utility E.ON – Energie, seenews.com reports. The agreement is an addendum to a contract originally signed in 2015 and increases the total value of the initial contract by 3.2% from 504.9 million lei to 521.1 million lei, Romgaz said in a statement filed with the Bucharest Stock Exchange, ...
INTERVIEW KMGI VP: We keep calm and focus on business despite precautionary attachment
Thursday, July 21, 2016
The precautionary attachment ordered by the Directorate for Investigating Organized Crime and Terrorism (DIICOT) on the assets of Rompetrol Rafinare does not hamper the current operations of the company, asserts KazMunayGas International (KMGI, formerly Rompetrol Group) Vice President Catalin Dumitru in an interview to Agerpres. The judiciary procedure, however, has frozen major investment projects and prevented drawing funds, he ...
Azerbaijan, Romania to boost co-op in gas transportation
Thursday, July 21, 2016
Azerbaijan’s state oil company SOCAR and Romania’s state-owned company Transgaz agreed to step up cooperation in the natural gas transportation, SOCAR said in a message July 19 quoted by http://en.trend.az/. The two sides signed a memorandum of understanding during a meeting of SOCAR President Rovnag Abdullayev with Romanian delegation that included the member of the European Parliament Ramona Nicole Manescu, Transgaz Board Chairman Ion ...