RSS
Energy & Environment
EurActiv:Do not fund Southern Gas Corridor with EU money
Thursday, March 3, 2016
The flashbulbs at Azerbaijan’s official photo opportunities should not blind Europe’s leaders to the country’s accelerated descent into authoritarianism, writes Xavier Sol. A leap year comes just twice in a decade, but the Southern Gas Corridor, the series of pipelines intended to feed Europe with gas from the Caspian Sea, is a once in a lifetime project. So maybe it is more than just coincidence that Azerbaijan – well versed in ...
Ambassador Paul Brummell: the British companies,drawn by the Romanian energy sector
Thursday, February 25, 2016
The companies from the UK want to invest in the Romanian energy sector, with many advantages as compared to that of the neighbouring countries, such as the diversity of production sources, stated ambassador of the UK to Romania, Paul Brummell. ‘We have already companies from the UK, such as Amec Foster Wheeler which activate in the energy sector of Romania. There are three sectors – oil and gas, nuclear and innovation and coal – where ...
MOL Group Announces 2015 Full Year Results
Thursday, February 25, 2016
MOL Group delivered a strong clean CCS EBITDA of USD 2.5bn, 13% above 2014 results Historically strongest Downstream performance with strong internal efficiency delivery Total production was 104 thousand boepd in 2015 a 7% increase compared with the previous year MOL booked asset impairment charges of USD 1.7bn, mostly ...
ANRE's Havrilet: Hidroelectrica, Nuclearelectrica should sell electricity inexpensively instead of exporting it
Thursday, February 25, 2016
The Hidroelectrica water power generating company and the Nuclearelectrica nuclear-power corporation are the least expensive energy generators in Romania, so they should sell their electricity output in Romania, instead of exporting it, Chairman of the National Energy Regulatory Authority (ANRE) Niculae Havrilet told an energy conference in Bucharest on ...
Romania’s coal production and imports rose in 2015
Thursday, February 25, 2016
The net coal production in Romania amounted to 4.7 million tons of oil equivalent in 2015, which was an increase of 6.3 percent against the previous year, according to the statistics office INS, quoted by business-review.eu. Despite the growing domestic production, imports of coal have also gone up by 11 percent to 556.400 toe. Romania’s lignite yearly production capacity amounts to 33 million ...
OMV Petrom: In the absence of a buyer for Arpechim, the refinery may be closed down
Thursday, February 25, 2016
The OMV Petrom group will keep the Arpechim refinery closed down, but it will use the reservoirs for oil storage and as there is no buyer, the unit will be probably closed down, stated in a press conference the general manager of the company Mariana Gheorghe. Mariana Gheorghe said that if they wanted to reopen Arpechim OMV Petrom should invest several hundreds of million euro. She said that at present no buyer showed any interest for the ...
Robin Dunnigan, Deputy Assistant Secretary for Energy Diplomacy in the Bureau of Energy Resources of the U.S. Department of State payed a visit to Bucharest
Thursday, February 25, 2016
Foreign Affair Ministry's State Secretary for Strategic Affairs Daniel Ionita received on Thursday Robin Dunnigan, Deputy Assistant Secretary for Energy Diplomacy in the Bureau of Energy Resources of the U.S. Department of State; their talks focused on the bilateral cooperation in energy and on Romania's role in shaping energy security architecture in the region and in ...
Romanian Refinery to Process Iranian Oil
Thursday, February 25, 2016
first Iranian oil shipment will arrive in Romania soon, as the country takes advantage of the lifting of international sanctions against Tehran. A first cargo of around a million barrels of crude oil is to arrive this week at the Romanian port of Constanta, marking the return of Iran to the European market after years of international sanctions against Tehran, balkaninsight.com informs. A ...
Gas Interconnector between Bulgaria and Romania expected to be ready in second half of 2016
Thursday, February 18, 2016
Bulgartransgaz has chosen an Austrian company to complete the gas interconnector between Bulgaria and Romania, Energy Minister Temenouzhka Petkova said during a meeting Thursday of the parliamentary Energy Committee, bta.bg reports.. Bulgartransgas made its decision on Wednesday while the term for completing the facility is 119 days after the signing of the agreement. The works total 4.577 million euro, Petkova said, adding that the interconnector is expected ...
Competition Council investigations last too long while energy market evolves rapidly
Thursday, February 18, 2016
Investigations in the energy sector made by the Competition Council last too long, while the market evolves rapidly, Silvia Vlasceanu, the executive manager of the Association of Utility Energy Companies (ACUE) declared on Thursday at PRIA Competition conference. “The energy sector is the most organized in this country at present. But it has an accelerated dynamics. For instance, 25 years ago there was no talk about energy renewable sources and ...
Romgaz, Lukoil Overseas and PanAtlantic Petroleum companies gave up their rights in the Black Sea
Thursday, February 18, 2016
The Romgaz, Lukoil Overseas and PanAtlantic Petroleum companies, partners in the exploration of the EX 29 East Rapsodia oil perimeter in the Black Sea, gave up their rights on this perimeter, Romgaz informed on Wednesday. Exploration results were below ...
Lukoil in Talks to Deliver Iranian Crude to Its Bulgaria, Italy Refineries
Thursday, February 18, 2016
Lukoil's Vice President Vladimir Nekrasov has said the company is negotiating with Iranian authorities on the supply of Iranian crude oil to refineries in Bulgaria, Romania, and Italy, novinite.com informs. The "oil exchange", which foresees deliveries of crude from Iran in return for a refined product sent to the Islamic Republic, Russian daily Kommersant has quoted Nekrasov as ...
Romania’s renewable capacities rose by 2.9 percent in 2015 despite cut of incentives
Thursday, February 18, 2016
New renewable capacities have been put online last year in Romania, despite the difficult market, which was marked by significant changes in the incentives scheme in the past two years. According to grid operator Transelectrica, fresh renewable capacities of 124MW started operations in 2015, which is a 2.9 percent increase on the previous year, business-review.eu informs. Romania’s renewable ...
Romania exported in 2015 a crude oil quantity of 6.595 million tonnes
Thursday, February 18, 2016
Romania exported last year a crude oil quantity of 6.595 million tonnes of oil equivalent (toe), by 131,900 tep (2pct) lower from that imported in 2014, according to the data centralized by the National Institute of Statistics ...
Hungary, Romania agree to press forward on energy, transport projects
Thursday, February 18, 2016
Agreements were reached on pushing forward with energy and transport projects at a meeting of the Hungarian-Romanian joint economic committee in Bucharest on Friday, the committee?s Hungarian co-chair, state secretary for economic diplomacy Levente Magyar told Hungarian news agency MTI.Romania?s new technocrat government relates to the joint projects in a far more open and pragmatic manner than the country?s previous government, Magyar said. The sides ...
Transgaz is estimated to record a 2015 net profit of 487.75 million lei
Thursday, February 18, 2016
Romania's Transgaz national gas transmission corporation is estimated to record a 2015 net profit of 487.75 million lei, down 3 percent from 2014, according to unaudited financial reports posted by the company on the Bucharest Stock Exchange (BVB) website on Monday. Operating revenue levelled out at 1.65 billion lei from the year before, while financial revenue was up 30 percent, to 43.237 million lei. Transgaz's total revenue in 2015 ...
Nuclearelectrica recorded a 2015 net profit of 149.84 million lei
Thursday, February 18, 2016
Nuclearelectrica National Company recorded a 2015 net profit of 149.84 million lei, up 13 percent from 133.06 million lei net profit in 2014, as well as a total turnover of 154.45 million lei, according to a report by the company posted on the website of the Bucharest Stock Exchange (BVB) on Monday. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) increased 9 percent from the same period of the previous year, to 601.08 million ...
Romgaz estimated 2015 profit is standing at 1.18 billion lei
Thursday, February 18, 2016
Romgaz estimated 2015 profit is standing at 1.18 billion lei, down nearly 16 percent from the year before, according to preliminary data released by the company on Monday and carried by the Bucharest Stock ...
ENGIE GDF SUEZ Energy Romania Signs Multi Year Agreement With Cason For Smart Metering and Related IT Services
Thursday, February 18, 2016
ENGIE GDF SUEZ Energy Romania and Cason Inc, a technology company focusing on green technology and smart metering signed an agreement for providing monitoring technology on measuring main consumers and related IT services for 3 years. The results were ...
Romania reached Europe 2020 renewable energy goals in 2014, says Eurostat
Thursday, February 18, 2016
Romania is among the one third EU members that have already reached the 20 percent level required to meet their national Europe 2020 targets for renewable energy out of gross energy consumption, according to information published by Eurostat, the statistics office of the EU. The 24.9 percent Romania registered in 2014 also puts the country almost ten percentage points over the EU average of 16 percent, business-review.eu ...