RSS
Energy & Environment
OMV Petrom completed the modernization of the Arad fuel depot
Thursday, May 23, 2019
OMV Petrom completed the modernization of the Arad fuel depot, the largest in the west of Romania and the second largest in the country, an investment worth almost EUR 19 million. The terminal in Arad has a storage capacity of more than 32,000 cubic meters, equivalent to over 550,000 car fillings. “With the modernization of the Arad fuel storage, we successfully complete the optimization program for the fuel storage infrastructure. The program ...
Eurostat: În Romania, gas price for households rose by 16.3 pct in 12 months
Thursday, May 23, 2019
The gas price for households in Romania registered the 4th largest growth rate year-on-year in the European Union in the last quarter of 2018, according to Eurostat. As a consequence, Romania isn’t anymore the country with the lowest gas price for households in the EU as gas prices in Hungary are now lower. Romania has now the second-lowest prices for gas and the fifth lowest prices for electricity among the 28 ...
Oil Terminal Constanta reported in Q1 a net profit of 536,000 lei
Thursday, May 16, 2019
Oil Terminal Constanta, the operator of the oil terminal run by the state at the Black Sea reported in Q1 a net profit of 536,000 lei from only 17,000 lei in the similar period of the previous year at business of 36,565 million lei (7,68 million euro) according to the data published on the site of BVB. Similarly, the net turnover of the company was 36,56 million lei with 8.2% higher than the one registered in the first three months of last year, of 33.78 million lei. Oil ...
The final consumption of electricity dropped with 1.6% in Q1
Thursday, May 16, 2019
The final consumption of electricity was, in Q1 of this year of 14,451 billion kWh less than the similar period of 2018, but the consumption of the population was increased with 12%, says on Monday the National Institute for Statistics.Public lightning registered during the period under discussion growth of 5.7% and the technological one in networks and stations dropped by 248.9 million kWh at almost 1.801 billion kWh. The export of electricity was 862.6 million kWh dropping ...
The oil companies in Romania will pay fees depending on the quotation of Brent barrel in the London stock exchange
Thursday, May 16, 2019
The companies which extract oil from Romania will pay to the state budget fees depending on the quotation of the Brent barrel on the stock exchange in London according to an order of the chairman of the National Agency for Mineral Resources (ANRM) published on Friday in the Official Gazette.‘ It is considered key oil with physical-chemical characteristics and quality conditions and market similar to the types of oil in the domestic production, the Brent type’ the ...
Romania becomes a large electricity importer due to output shortages
Thursday, May 16, 2019
Romania has become in the first quarter of this year a net electricity importer as it relied on large imports to ensure the power needed by its businesses and households. The official statistics body said that Romania imported 1,125.5 million kWh in January-March and exported only 862.6 million kWh and the electricity balance of the country was on the deficit. Electricity export halved (-52.9 percent) in the first 3 months of this year while import rose by 78.5 ...
Enel’s Romanian subsidiary posts lower profit despite 20% surge in revenues
Thursday, May 16, 2019
Italian energy group Enel's revenues in Romania rose by 20% from EUR 298 million to EUR 357 million in the first quarter of this year, according to the group’s quarterly report. However, the earnings before interest, taxes, depreciation and amortization (EBITDA) decreased from EUR 45 million to EUR 22 million, mainly due to the evolution of the electricity supply ...
Romgaz’s net profit up 16.26 percent in Q1 2019
Thursday, May 16, 2019
The Romgaz Group posted a net profit of RON 541.9 million in the first quarter of 2019, up 16.26 percent (plus 75.8 million lei) compared to the same period last year, and a turnover RON 1,713 billion, up 15.57 percent (plus 230.8 million lei), according to data released to the Bucharest Stock Exchange (BVB). Group Income amounted to RON 1.684 billion (plus 19.71 percent) in the first three months, and RON 1.089 billion (plus 28.71 percent). Gas production rose by 4.8 percent ...
În Q1 of 2019, Rompetrol Rafinare’s operating profit dropped 50 percent
Thursday, May 16, 2019
Rompetrol Rafinare, member of the KMG International Group, posted a 50 percent drop in operating profit after the first three months of this year to USD 17.163 million from USD 34.6 million in the same period last year amid international developments. From an operational point of view, the Petromidia refinery managed to reach 1.35 million tons of raw materials processed in the Atmospheric and Vacuum Distillation Unit in the first quarter of 2019, up by 14 kt compared to the same ...
Electrica posts net loss of RON 41 million for Q1 2019
Thursday, May 16, 2019
The total operating revenues of the Electrica Group in the first quarter of 2019 amounted to RON 1.62 billion, an increase of 17 percent or RON 237 million compared to the same period of 2018. The electricity transporter recorded a net loss of RON 41 million, as a result of rising costs for the purchase of electricity. In the distribution segment, revenues increased by 4.5 percent as a result of the increase in the distributed share by 0.5 percent, the increase in average ...
Transgaz posts 19 pct lower profit in Q1 2019
Thursday, May 16, 2019
The National Natural Gas Transport Company, Transgaz, registered a net profit of RON 191.4 million in the first quarter of 2019, 19 percent lower than in the same period of last year, when it was RON 236.6 million. The revenue was influenced mainly by factors like the commodity component revenue, lower by RON 26.2 million due to the commodity transmission tariff that was reduced by RON 0.48/MWh, with a negative influence of RON 21.5 million, and the gas ...
Nuclearelectrica records RON 219.3 million in profit for the first quarter of 2019
Thursday, May 16, 2019
Nuclearelectrica S.A. National Company (SNN) recorded a net profit of RON 219.3 million, 23.9 percent higher compared to the same period of last year. The company’s operating income increased by 18.7 percent, influenced by the 23.5 percent increase in the weighted average price of the electricity sold in the first quarter of 2019 as compared to the weighted average price in the first quarter of 2018. Compared to the same period of the previous year, the quantity ...
Energy Ministry, CGN ink agreement for Cernavoda reactors 3,4 construction to start in 2-3 years
Thursday, May 9, 2019
Officials with the Ministry of Energy of Romania's Government and of the Chinese CGN company on Wednesday inked the investors' agreement for the project of the reactors 3 and 4 of Cernavoda nuclear plant, southeastern Romania, which will allow the establishment of a project company and the actual kick off of construction in the next two-three years, Energy Minister Anton Anton said."In my opinion, it is a very important day. What has been signed here under our ...
Transgaz, Black Sea Oil & Gas sign Memorandum for Midia Project
Thursday, May 9, 2019
SNTGN Transgaz SA and Black Sea oil & GAS have signed a Memorandum of Understanding to use and develop the natural gas transmission network for the Midia Gas Development Project (the MGD Project), according to a press release of the company."On May 6, 2019, at the headquarters of its representatives office in Bucharest, SNTGN Transgaz signed with Black Sea Oil & Gas (BSOG) a Memorandum of Understanding to use and develop the natural gas transmission ...
ANRE: Romania imported 55 pct more gas in January, for 37 per cent higher price
Thursday, May 9, 2019
Romania imported by 4.2 million MWh more gas in January 2019, by 55 per cent more, respectively, compared with the same month a year before, for a 37 per cent higher price, according to a report of the National Energy Regulatory Authority (ANRE).In January 2018, current imports accounted for 2.7 million MWh, according to the same document.The price was by 37 per cent higher. Thus, in January 2018, the imported gas cost 91.02 lei per MWh, while in the ...
OMV Petrom has not made a decision on Black Sea investments, main obstacle – the legal framework
Thursday, May 9, 2019
The current legal framework does not offer the needed premises for an investment decision worth billions in the Neptun Deep block, Petrom informs in the report on the first quarter. “We are still willing to see the Black Sea deposits developed and we will continue the dialogue with the authorities in order to understand the steps ahead,” the company says. At the end of March 2019, the Government approved Emergency ...
Romania increases its reliance on Gazprom as Russian gas imports rose by 55 pct in January
Thursday, May 9, 2019
Romania increases its reliance on Russian gas as imports from Gazprom rose by 55 percent during the first month of this year at much higher prices, official data show. According to Romanian energy regulator (ANRE), gas imports from Russia rose by 55 percent in January compared to January 2018, up to 4.2 million MWh, while the average price rose by 37 percent to RON 124.1 per MWh. Romania’s ...
OMV Petrom Group’s sales up 11 pct in Q1 2019 to RON 5.4 billion
Thursday, May 9, 2019
Consolidated sales of OMV Petrom Group in the first quarter were up 11 percent over the same period of 2018 to RON 5.4 billion, while net profit stood at RON 1.15 billion, up 35 percent over the reference period. According to the data reported by the company, the value of consolidated sales reported in Q1 in 2019 was supported by higher market prices in local currency and higher volumes of sales of electricity and petroleum products, partly ...
MOL Group announces a global profit before tax of USD 500 mln. and rising diesel sales in Romania
Thursday, May 9, 2019
Mol posted an EBITDA of over USD 500 million in the first quarter of 2019, the company said. In Romania, retail diesel sales of MOL Group increased by 2.5% compared to the same period of last year, from 121 kt in Q1 2018, to 124kt in the first three months of this year. Gasoline sales had a slight decrease in volume, reaching 35kt, compared to 36kt in the first quarter of last year. Global Upstream EBITDA remained flat ...
BR INTERVIEW: Romgaz in talks with two big players about Black Sea offshore gas
Thursday, May 2, 2019
Romgaz, one of the most profitable state-owned companies in Romania, is in talks with two large players about exploration and exploitation projects in Black Sea offshore gas, the company’s CEO, Constantin Volintiru, told Business Review in an interview. What are Romgaz’s main objectives for the coming years? Romgaz has expanded its development strategy for the next few years, with the main priorities ...