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Energy & Environment
Romania’s energy strategy non-existent, says Energy minister
Thursday, May 21, 2015
Energy minister Andrei Gerea said on Tuesday at a Mediafax conference that it is true that Romania does not yet have an energy strategy, but that neither at the European Union’s level there is not yet clear the common direction in this area. According to Gerea, as quoted by Mediafax, energy is the future and is an element of security, and if some countries use energy as a weapon, then “weapons are a ...
Reuters: Romania's OMV Petrom net profit falls 68 pct y/y
Thursday, May 21, 2015
Romanian oil and gas company OMV Petrom, controlled by Austria's OMV, recorded a 349 million lei ($89.77 million) net profit in the first quarter, about 68 percent down on the year, due to dwindling international crude prices. A Reuters poll of five banks and brokerages estimated a Petrom would record a 60 percent fall in its January-March net profit due to weak upstream ...
Bloomberg: Transgaz May Sell Bonds to Build Gas Pipeline to Central Europe
Thursday, May 21, 2015
Romania’s Transgaz SA may sell bonds as early as this fall to finance construction of a gas pipeline to link the Balkan country’s southern region to central Europe, the head of the company said. The natural-gas grid operator will apply for European Union funding in July to back the 560 million-euro ($639 million) project called BRUA, linking Bulgaria, Romania, Hungary and Austria, Chief Executive Officer Petru Vaduva said in an interview in ...
Romania's energy Min wants a balanced, competitive and technologically neutral energy mix
Thursday, May 21, 2015
Romania's Minister of energy Andrei Gerea presented Romania’s energy policy in European context and the national objectives in the field of energy and environment. “Our main concern is to ensure energy security in this part of Europe. We want Romania to ensure a balanced, competitive and technologically neutral energy mix where renewable energy sources and nuclear energy could contribute to achieving energy and climate targets set at European and national ...
Romania hikes mining taxes by nearly 7%
Thursday, May 21, 2015
* The government last touched mining taxes in 2013 Romania’s leftist government hiked taxes for mining activities by just under 7 percent to align them with inflation, it said on Wednesday. The annual tax for mining prospecting was raised to 341 lei ($85.38) per square kilometres from 320 lei. The levy for mining exploration and exploitation rose 6.8 percent to 1,367 lei and 34,180 lei per square ...
Romania’s primary energy resources up by 4.8 pct in Q1
Thursday, May 21, 2015
According to a press release of the National Statistics Institute, primary energy resources increased by 4.8 percent in the first quarter of 2015 compared to the first quarter of 2014, amounting 8.294 million tones of oil equivalent. Electricity resources increased by 5.1 percent. Domestic production amounting 5.7132 million tones of oil equivalent, increased by 4.9 percent, while the imports increased by 4.5 percent. In the ...
Nuclearelectrica posted a 35.435 million lei profit for the first quarter of 2015
Thursday, May 21, 2015
The state-owned nuclear energy company Nuclearelectrica posted a 35.435 million lei profit for the first quarter of 2015, up 11 percent year-on-year; according to the company's report to the Bucharest Stock Exchange on Thursday, the EBITDA was 24 percent up, to 160.265 million lei. The company had Q1 revenues of 468.79 million lei (slightly up from 461.532 million in Q1 2014 - 440.293 million lei from electricity sales and 28.497 million lei from electricity ...
Fossil fuels subsidised by $10m a minute, says IMF
Thursday, May 21, 2015
Fossil fuel companies are benefitting from global subsidies of $5.3 trillion (€4.74 tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary ...
FP sues E.ON over granting useless management contracts; E.ON rejects accusations
Thursday, May 21, 2015
The administrator of Fondul Proprietatea (FP), Franklin Templeton, announced that the Fund sues E.ON Romania for awarding useless intra-group consulting contracts worth 7.7 million euro. However, E.ON România denies allegations and says it „totally respects the current legislation and the corporate governance principles”. “The Fund requested the agendas completion of the Ordinary General Meeting of Shareholders ...
EurActiv: Balkan coal rush risks lasting damage, campaigners warn
Thursday, May 21, 2015
Balkan countries and Ukraine are making "substantial investments" in polluting coal power stations to sell cheap electricity to the European Union, as the bloc searches for new suppliers to reduce its dependence on Russian gas. EU officials appear reluctant to use energy negotiations next month, or trade law, to force higher air pollution and environmental standards, despite the risks the rush poses to EU climate change and enlargement policies, and to ...
US discourages Greece from Turkish Stream
Thursday, May 21, 2015
The United States wants Greece to focus on the Western-backed TAP pipeline project rather than the rival Gazprom-favoured project Turkish Stream, a US special envoy said. Amos Hochstein, the US Special Envoy for Energy Affairs, told the New York Times on 8 May that his country was backing Greece to build the Trans-Adriatic Pipeline (TAP) that is set to bring gas from Azerbaijan by crossing through Turkey, Greece, Albania and under ...
Government approved a financial aid to the Hunedoara Energy Complex
Thursday, May 14, 2015
The government approved on Wednesday an emergency ordinance to provide financial aid to the Hunedoara Energy Complex, in the form of a loan from privatization income, Prime Minister Victor Ponta announced. "Thousands of people were waiting for this," Ponta ...
Romania's energy output rises 4.9% y/y in Q1
Thursday, May 14, 2015
Romania's energy output rose by an annual 4.9% in the first quarter of the year, while imports increased by 4.5%, the statistics office, INS, said on Tuesday. Romania's energy production totalled 5.71 million tonnes of oil equivalent (TOE) through March and imports rose to 2.58 million TOE, INS said in a statement. A TOE is the rounded-off amount of energy that would be produced by burning one metric ...
Romgaz, net profit down 7.4 pct in Q1
Thursday, May 14, 2015
Romgaz has ended first quarter of 2015 with a 563 million lei net profit, by 45.34 million lei (7.45 pct) smaller than the one in the similar period of 2014, which was 608 million lei, according to data released on Tuesday by the Bucharest Stocks (BVB). In the first quarter of 2015, the company recorded 1.37 billion lei in turnover, as compared to 1.45 billion lei in the first quarter of 2014, with a decrease by 5.78 ...
Romania approves law on measures in the field of electricity produced
Thursday, May 14, 2015
Romanian Parliament adopted by a large majority the legislation on measures in the field of electricity produced from renewable energy sources, according to a press release, issued by the Ministry of Energy, Small and Medium Sized Enterprises and Business Environment.According to the new law, energy producers and economic operators who were not issued individual decisions authorization from the European Commission, within 24 months from the date of accreditation, for ...
MOL Romania sells 7 pct more fuel in Q1
Thursday, May 14, 2015
Total fuel sales (in volume, including LPG and lubricants) of MOL Romania increased by 7 percent in the first quarter of 2015 to 121 kilotonnes, from 113 kilotonnes in the first three months of the previous year, supported by the gas station network’s expansion, according to information released by MOL Group in the quarterly report submitted to the capital market. Diesel sales held the largest share, amounting to 87 kilotonnes, up 5 percent ...
Enel Romania posts EUR 64 mln profit in Q1, down 1.5 pct
Thursday, May 14, 2015
Enel’s EBITDA in Romania fell by 1.5 percent in the first quarter of 2015, from EUR 65 million a year ago to EUR 64 million, according to data released on Friday by the Italian group. The company has obtained in Romania earnings before interest and taxes (EBIT) down by 26 percent, from EUR 50 million a year ago to EUR 37 million. Revenues decreased by 3.6 percent from EUR 275 million in the first quarter of 2014 to EUR 265 ...
G7 energy ministers optimistic about UN climate treaty
Thursday, May 14, 2015
Prospects for achieving a global climate deal by the end of this year are good, according to Germany's Economic Affairs Minister Sigmar Gabriel who said he had never seen so much agreement among the G7 states, EurActiv Germany ...
WINNERS OF ROMANIAN ENERGY AWARDS 2015 , May 12, 2015, Crowne Plaza Hotel, Bucharest
Thursday, May 14, 2015
The Diplomat-Bucharest organized the fourth edition of the Romanian Energy Awards 2015, on 12 May, at Crowne Plaza Hotel Bucharest . The event brought together the Who's Who in the energy and natural resources sector in Romania. The event was ...
ROMANIAN ENERGY EFFICIENCY SUMMIT 2015 CALL FOR ACTION IN ENERGY EFFICIENCY
Thursday, May 14, 2015
* June,12, 2015, Crowne Plaza Hotel, Bucharest The Diplomat-Bucharest organizes ROMANIAN ENERGY EFFICIENCY SUMMIT 2015 on June 12, at Crowne Plaza Hotel, Bucharest, on the ...