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Energy & Environment

Speaker Dragnea: Offshore law, to be adopted in three weeks, regardless of pressures

Thursday, September 13, 2018

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Deputies Chamber Speaker Liviu Dragnea stated on Sunday evening that he had a tense discussion with the representatives of OMV and Exxon who have told him that only after seeing the final shape of the offshore law will they make the decision whether to continue investments in the Black Sea or not.Dragnea said the law will be adopted in three weeks, adding that no matter what pressures are put on him and the party. MPs will not give in."The OMV CEO came ...

Reuters: OMV optimistic on approving billion euro investment in Romania soon

Thursday, September 13, 2018

Austria’s OMV is confident Romania will establish an acceptable framework for its Black Sea exploration project in the autumn and that it will be able to give the green light for a billion euro investment soon after, its upstream chief said quoted by Reuters correspondent în Vienna. The exploration of the Black Sea Neptun block is a joint venture between OMV’s Romanian subsidiary Petrom and U.S. major ExxonMobil and includes the first ...

Romania needs to invest EUR 10 bln to upgrade its electricity distribution network

Thursday, September 13, 2018

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Romania needs to invest close to EUR 10 billion to upgrade its obsolete electricity distribution network, Electrica CEO Catalin Stancu said on Thursday, quoted by Agerpres, http://business-review.eu reads. “At present, 60 percent of Romania’s distribution and transport network is overdue, meaning it is a relatively old structure. If we are to translate this in figures compared to the average for the ...

Vestmoldtransgaz takeover is completed; Transgaz has to finish Ungheni-Chisinau pipeline on schedule

Thursday, September 13, 2018

The acquisition of Vestmoldtransgaz has been completed and now Transgaz has to focus on finishing the Ungheni-Chisinau gas pipeline on schedule, Romania's Minister of Trade Danut Andrusca is quoted as saying in a news statement released on Friday.According to the document, Romania's national natural gas transmission corporation SNTGN Transgaz's takeover of Moldova's Vestmoldtransgaz gas transmission company was completed on Thursday, September 6, with the final ...

PRIMARY ENERGY RESOURCES ,  up 2.1 percent DURING 1.I.–31.VII.2018

Thursday, September 13, 2018

- During 1.I – 31.VII.2018, primary energy resources increased by 2.6%, while those of electricity decreased by 0.1% as compared to the same period of previous year. Romania's January - July final electricity consumption amounted to 32.472 bln kWh, up 2.1 percent from the same period of the year before; public lighting consumption was 3.5 percent down YoY, and household consumption was 11.2 percent lower, the National Institute of ...

THE FIRST DUAL SYSTEM  CLASS SUPPORTED BY E-DISTRIBU?IE MUNTENIA STARTS AT ENERGY TECHNICAL COLLEGE BUCHAREST

Thursday, September 13, 2018

· Future electricians will benefit from monthly scholarships, as well as practical formation on the sites of E-Distributie Muntenia ·After graduation, the certified electricians will have the opportunity to be hired by E-Distribu?ie companies The first class in dual system for electricians, supported by E-Distribu?ie Muntenia ...

Hidroelectrica under investigation, after losses registered by suppliers

Thursday, September 13, 2018

Power suppliers have registered losses as a result of Hidroelectrica’s behavior of selling more energy on the balancing market where the price is higher, instead of the Day Ahead Market (DAM), but consumers would have suffered as well if the situation would have continued, said the president of the Competition Council, Bogdan Chiritoiu, quoted by energynomics.ro. Comments came after the Council announced on Monday that it had launched an ...

The Competition  Council authorised the transaction by which MET Holding of Switzerland takes over RWE Energy

Thursday, September 6, 2018

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The Competition Council announced on Wednesday that they authorised the transaction through which  MET Holding AG of Switzerland takes over RWE Energie SRL. In  June, the energy groups MET  and Innogy (Elmu-Emazs) announced  the signing of the agreement regarding the acquisition by MET of the company RWE Energie (RWEE) Romania owned by  Innogy.As a result, MET reaches the top three suppliers on the competition market of energy in Romania. Later, the ...

Romgaz: new discovery of ore from Caragele could be put into operation in 2020-2021

Thursday, September 6, 2018

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The new discovery of ore Romgaz from Caragele, Buzau, estimated at about 30 billion cubic meters, could be put into operation in 2020-2021, currently being developed  investment for drilling, announced on Wednesday in a press release, the deputy general manager of the company, Dumitru Gheorghe Rotar."The discovery Caragele announced a few years ago is not part of the commercial ore  Caragele. It is not at the isobath level of the Caragele ore, It is much deeper. At the ...

KMG International - refining and trading activities increased in the first half of 2018

Thursday, September 6, 2018

The KMG International Group (KMGI) has recorded exceptional financial and operating results during the first half of the year, being supported in particular by refining and petroleum product trading, a press release sent to ACTMedia informs. Based on an increase by 27% of the processed raw material quantities and by 80% of the total volume of marketed products during the first quarter, the Group has obtained an EBITDA operating result of de USD 114.6 million, exceeding the one that ...

Romgaz invests 1.6 billion lei in 2018, almost half in Thermal Power Plant in Iernut

Thursday, September 6, 2018

The head of the National Natural Gas Corporation Romgaz, Andrei Bobar, told on Wednesday a press conference that the company will make investments worth 1.6 billion lei in 2018, almost half of the amount being due to be allocated for the construction of a new Thermal Power Plant in Iernut, the Mures County (central Romania)."Our plan is to reach our investment budget, of approximately one billion and a half - 1.6 billion consolidated, 1.5 billion lei Romgaz individually. In our ...

E-DISTRIBU?IE BANAT TO AWARD CONTRACT FOR WORKS ON GRIDS WITH A VALUE OF UP TO 110 MILLION LEI

Thursday, September 6, 2018

E-Distribu?ie Banat will award, by public tender, a multi-services contract for works on the medium voltage and low voltage lines of the electricity distribution grids, and back-office operations, in the counties Arad, Timis, Caras Severin and Hunedoara, with a total value of up to 110 million lei (approx. 23.7 million euros). The participation announcement for the 3-year contract has been published on the platform of the electronic system for public procurement ...

Euro Gas Systems will build gas compressor station in Croatia

Thursday, September 6, 2018

Romanian company Euro Gas Systems (EGS) will build a gas compressor station for Croatian gas transporter Plinarco. The two companies signed the contract worth EUR 8.2 million on Friday, August 31, according to ...

New research concludes that Member states should capitalise on their renovation strategies to achieve national energy efficiency targets

Thursday, September 6, 2018

  A report assessing the updated national renovation strategies of Bulgaria, Croatia, Germany, Romania and Slovenia is published today by the H2020 project EmBuild, finding that the objectives of Article 4 of the Energy Efficiency Directive, in force since 2012, are still only partially met in these five countries. The report states that the opportunity to deliver an array of benefits through renovating the building stock is being missed. The development and implementation of ...

The takeover of Vestmoldtransgaz by Transgaz  will be finalised next week

Thursday, August 30, 2018

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The takeover of the state-run company Vestmoldtransgaz  from the Republic of Moldova by the gas transporter Transgaz will be finalised  next week, after the clauses of the privatisation contract will be signed, announced on Monday the ministry of economy.’A team of specialists  belonging to Eurotransgaz, the company owned by Transgaz in the Republic of Moldova will go at the end of next week to Kishinev for the stocktaking of the patrimony of ...

Electricity stock exchange price goes up by 70% in August

Thursday, August 30, 2018

The average price of electricity in the spot market of OPCOM exchange reached 281 lei/MWh on Tuesday, on the rise by 70% against the quotation valid on August 1 - 166 lei/MWh, according to data posted on the website. The average price for top consumption hours (9:00-22:00) went up by 80% since the beginning of the month, from 184 lei to 329 lei. The price has been growing continuously in August, on the background of the low ...

Hidroelectrica: Romania will not reach renewable target for 2030

Thursday, August 30, 2018

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The intention of the Water Ministry to forbid building hydropower plants at heights between 800 and 1,500 m will have huge impact on Hidroelectrica activity and Romania will not reach the renewable energy target for 2030, said Bogdan Badea, the general manager of Hidroelectrica. “We will analyse the way in which existing installations are affected and we estimate that the impact is very big, when most large accumulations are at over 800 m ...

Regional ministerial conference on nuclear energy to be hosted by Bucharest in October

Thursday, August 30, 2018

Romania's Deputy Prime Minister Viorel Stefan on Wednesday welcomed William Magwood, general manager of the Nuclear Energy Agency (NEA) of the Organisation for Economic Co-operation and Development (OECD) to discuss preparations for a regional ministerial conference on nuclear energy to be hosted by Bucharest in October.According to a press statement release by the Romanian government, Magwood visits Romania as part of the preparations for the Regional Ministerial ...

EPG: Romania faces high reputational costs if Black Sea gas exploitation hits snag

Thursday, August 30, 2018

Romania will be racking up very high reputational costs, as well as costs arising from the arbitration lawsuits filed by oil companies, if the latter halt investments in the leased Black Sea offshore gas blocks, director of the Energy Policy Group (EPG) think-tank Radu Dudau said on Wednesday, during a debate on offshore gas.Dudau said that back in 2010, when the oil companies signed the lease agreements with the National Agency for Mineral Resources, they had ...

Transelectrica to open a branch in Moldova, says Economy minister

Thursday, August 30, 2018

Economy minister Danut Andrusca said on Tuesday that national electricity provider Transelectrica, one of the most profitable Romanian state companies, is planning to open a branch in The Republic of Moldova, according to news.ro QUOTED BY http://business-review.eu. The minister had a bilateral meeting with his Moldovan counterpart, Economy and Infrastructure minister Chiril Gaburici. “Moldova is an interesting and ...

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