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Energy & Environment
CNP: Romania's energy resources will stand in 2016 at 43.3 million tonnes of oil
Thursday, December 24, 2015
Romania's energy resources will stand in 2016 at 43.3 million tonnes of oil equivalent (TOE), being up by 1.6pct against 2015, according to the Energy Balance Prognosis carried by the National Prognosis Committee ...
KMG International Nv finalized the transfer of 51pct of the shares to CEFC China Energy Company Limited
Thursday, December 24, 2015
KMG International NV (former Rompetrol Grup) and CEFC China Energy Company Limited have finalized on Thursday the transfer of 51pct of the shares of the Dyneff group of companies that holds assets and trading and distribution operations in France and Spain, according to a KGMI release sent on Thursday.KMG International will continue to hold a 49pct stake in ...
Romania imported oil by 3.8pct higher in the first ten months of 2015
Thursday, December 24, 2015
Romania imported in the first ten months of 2015 some 5.821 million tonne of oil equivalent - toe, by 211,300 toe (3.8pct) higher than in the similar period of 2014, according to data centralized by the National Institute of Statistics (INS). The oil output ...
COP21 celebrations, but governments must mind the emissions gap
Thursday, December 17, 2015
World governments Saturday (12 December) agreed a historic international agreement to fight global warming at the UN Climate Change Conference (COP21) in Paris. Almost 200 nations agreed a deal to cap global warming at “well below” two degrees above pre-industrial levels, with a reference to a lower, long-term 1.5 degree target in the text. Any mention of the 1.5 degree limit seemed unlikely two weeks ago when the COP21 began. But the idea gradually ...
ANRE's Havrilet: Electricity bill for households to drop 3.5pct starting January 1, 2016
Thursday, December 17, 2015
Household consumers will pay starting January 1, 2016 by 3.5 percent less for electricity, president of the National Energy Regulatory Authority (ANRE) Niculae Havrilet told a meeting with the press on Wednesday.The decision was made in the regulatory committee, which took place on Wednesday. "We have decided on a 3.5 percent reduction starting January 1 for ...
Imported gas, by 78.4pct (274,100 toe) lower in the first ten months of 2015
Thursday, December 17, 2015
Romania imported in the first ten months of 2015 an amount of usable natural gas of 75,300 tonnes of oil equivalent (toe), by 78.4pct (274,100 toe) lower compared to that imported in the similar period in 2014, according to the data centralized by the National Institute of Statistics ...
PRIMARY ENERGY RESOURCES INCREASED BY 3.1% DURING 1.I – 31.X.2015
Thursday, December 17, 2015
- During 1.I – 31.X.2015, primary energy resources increased by 3.1%, while those of electricity increased, as compared to the same period of previous year, by 8.9%. The final electricity consumption went up 6.2pct in the ...
EnergoBit S.A.’s 30MW Babadag III Wind Farm in Romania will transmit energy
Thursday, December 17, 2015
EnergoBit S.A.’s 30MW Babadag III Wind Farm in Romania will transmit energy to the grid using 140km of Nexans’ high temperature conductor cables and accessories. Nexans to increase wind power potential in RomaniaThe existing Babadag-Tulcea Vest 110 kV power line does not have enough capacity to carry power from EnergoBit S.A.’s new wind farm. Nexans’ high temperature ACSS/TW BRANT conductors will double the line rating without adding mechanical loads. ...
Antares Group opens Romania´s first CNG filling station
Thursday, December 17, 2015
Antares Group has opened the first Compressed Natural Gas (CNG) filling station in Romania after a €3.2 million ($3.51m) investment.The budget was used for the purchase of a property strategically located in Ramnicu Valcea, near the E81 European route and close to a natural gas pipeline, the purchase of 20 buses that are filled with GNC and the construction of the CNG filling station itself. “Antares bets on natural gas as a fuel of the future and, as known that LPG cannot ...
Energy investments in Romania's Black Sea perimeter hit $1 bln in 2015 - report
Thursday, December 17, 2015
Investments in oil perimeter works in the Romanian section of the Black Sea totaled $1 billion (921 million euro) in 2015, local media reported on Tuesday, quoting Deloitte executive lead advisor Razvan Nicolescu. "We are the country with the most balanced energy mix. We fulfilled the target of renewable energy five years earlier than the agreed term with the EU," Ziarul Financiar reported, quoting Nicolescu. Nicolescu, a former energy minister, said that at the ...
Programmers overthrow oil and gas workers to become highest paid employees in Romania, says INS
Thursday, December 17, 2015
After half of year of leading the charts in terms of net earnings, oil and natural gas extraction workers have been surpassed in October by programming, consultancy and information service employees, data released by the National Institute for Statistics (INS) show. Both gross and net nominal earnings increased by 2.1 percent in October over the previous month, sustained by a majority of fields which benefited from increases in net salaries. The most ...
SOCAR subsidiary in Romania plans to attract loan
Thursday, December 17, 2015
SOCAR Petroleum SA company, subsidiary of the State Oil Company of Azerbaijan in Romania, plans to attract 5 million euros of loan from the Dutch ING Bank, Romanian media reported. Reportedly, the loan is needed to finance the company’s working capital. The shareholders of SOCAR Petroleum SA approved signing a loan agreement during the general meeting in November, according to Romanian media. The loan which can be increased to 10 million euros is secured by the ...
Electrica shareholders elected the new Board of Directors
Thursday, December 17, 2015
Electrica S.A. Group has a new Board of Directors after the General Meeting of Shareholders on Monday. The new Board is composed of seven members, four of whom are non-executive and independent. “From my point of view, Electrica SA General Shareholders Meeting today elected a Board of Directors very balanced, which ensures premises for continuity in decision-making. We have four Romanian members and three foreigners, we have members of the former Board of Directors, who ...
ANRE certified Transelectrica as transport operator of the national electricity grid
Thursday, December 10, 2015
The committee for the regulation of the National Authority for Regulation in Energy (ANRE) approved the certification of the National Company for Electrical Energy Transport Transelectrica, according to the model of property separation, as transport operator and system operator of the national electricity system, according to a press release of ANRE, ‘ Transelectrica had been certified by ANRE through order ANRE no.71/2014 as transport and system operator of the ...
Romania lost the opportunity to get 3 billion euro out of the sale of emissions certificates surplus
Thursday, December 10, 2015
Romania could have obtained 3 billion euro out of the trading of the carbon dioxide emissions certificates surplus, but this right was suspended for a nondefinite period due to the fact that the National Agency for the Protection of the Environment (ANPM) did not manage this sector correctly, according to a report of the Court of Auditors drawn up following the investigation made in Q1 2012. The report mentions the fact that Romania committed, in the Kyoto protocol, that ...
The breakdown of Turkish-Russian relations is changing energy security calculations in the Black Sea
Thursday, December 10, 2015
Bulgaria has publicly broken ranks with states opposing the Nord Stream II project. Other are rumored to follow, namely Romania and Slovenia, http://neurope.eu/ informs. The main idea of Nord Stream II is to scale up the gras transfer capacity of an existing route via the Baltic Sea by a massive 55 billion cubic ...
COR President takes swipe at COP deal, hails global Covenant of Mayors
Thursday, December 10, 2015
The President of the Committee of the Regions Tuesday (8 December) took a swipe at leaders struggling to reach a deal to cap global warming at the UN Climate Change Conference in Paris, while hailing the efforts of mayors to save the planet. Markku Markkula said that local leaders were delivering real results on climate and were more ambitious than their national equivalents. He hailed the ‘globalisation’ of the Covenant of ...
Romania is the heaven of devaluated energy assets
Thursday, December 10, 2015
Fondul Proprietatea is “the cheapest fund in the world”, said Mark Mobius, executive chairman of Templeton Emerging Markets Group, in a press conference in Bucharest, after the GSM on October 29. Poor liquidity keeps the assets of Fondul Proprietatea – 90% of them in the energy sector – dearly undervaluated. According to energynomics.ro Magazine's article, the situation forces the fund managers from Templeton Emerging Markets Group (TEMG) into unusual ...
Laurentiu Ciurel was removed from the CEO position at CE Oltenia
Thursday, December 10, 2015
Laurentiu Ciurel was dismissed Friday from the job of general director of Oltenia Energy Complex (CE Oltenia) by the Supervisory Board of the state-owned company. The revocation was motivated by failure of reaching performance criteria, according to a document signed by the Chairman of the Supervisory Board of CE Oltenia, Cristian Eugen Radu. Revocation has been tested also in 23 November. Laurentiu Ciurel was indicted in Turceni-Rovinari case, in ...
Romania risks disengagement of 500 million lei for the European projects in energy, due to delays
Thursday, December 3, 2015
Romania risks disengagements of over 500 million lei (112 million euro) for projects in the energy sector financed with European funds, in the financial exercise 2007 – 2013 due to the fact that they will not be finalised until 31 December 2015 according to the minister of energy Victor Grigorescu. ‘I regret the fact that we are among the institutions which, unfortunately, risk disengagement of European funds, we speak about funds worth ...