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Energy & Environment

CE Oltenia forecasts revenues of RON 3.913 billion

Thursday, May 2, 2019

The Oltenia Energetic Complex (CE Oltenia) has budgeted revenues of RON 3.913 billion in 2019 and expenses of RON 3.912 billion, resulting in a gross profit of RON 1 million, according to the draft budget of revenues and expenditures, published by the Ministry of Energy. The profit tax will be zero, so the net profit will be as much as one million lei, according to the cited document, quoted by Agerpres. CE Oltenia will also ...

Energy expert: Before extending gas networks, we must first see if people can foot the bill

Thursday, May 2, 2019

The extension of gas networks should not be driven by electoral reasons and before taking the pipeline to the people's gates, the authorities must make sure that they can afford footing the bill, executive director of the Federation of Energy Utilities Associations (ACUE) Silvia Vlasceanu told a specialist conference."I am afraid that these extension works are just for the sake of extending, because there are mayoral and parliament elections ahead and so on, watch ...

Serinus Energy announces start of gas production in Romania

Thursday, May 2, 2019

Serinus Energy plc has announced on Friday that production has commenced at the Moftinu Gas Plant in Romania. Gas from the Moftinu 1003 production well has been flowed through the gas plant into the sales gas pipeline. The processed gas meets the water dew point and hydrocarbon dew point specifications set by the Romanian National Gas Transportation Company, Transgaz. The  Company  will  follow  a  conventional start-up program  whereby ...

OMV, ExxonMobil temporarily dismantle teams assigned to Black Sea gas project due to legislative uncertainty

Thursday, May 2, 2019

OMV and ExxonMobil teams working on gas exploration and exploitation in the Black Sea have been temporarily dismantled due to the legislative uncertainty in Romania, according to reporting by ProTV. The frequent and sudden legislative changes enacted by Romanian authorities have endangered the ...

Zero-emission EU industry ‘within reach’ but costly, study says

Thursday, May 2, 2019

Bringing down emissions from heavy industry to net-zero by 2050 is possible but will require costly new production processes and a 25-60% increase in near-term capital investments to reach €40-50 billion per year, according to new research published on 25 April quoted by euractiv.com. Achieving net-zero emissions for European energy-intensive industries is “within reach” but time is running out, with 2050 only one investment ...

Romgaz will supply 50% of the gas production at capped price and OMV Petrom -35%

Thursday, April 25, 2019

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The National Authority for  Regulation in Energy (ANRE) established the quantities of gas which have to be supplied by the producers at capped ;price of 68 lei/MWh to household consumers and thermo power units which deliver thermal agent to the population between 1 May 2019 and 31 March 2020.Thus, according to the decision ANRE, Romgaz will deliver at a regulated price of 24.2TWh ouf of which 16 TWh to the population and 8.,2 TWh to CETs.At the ...

ANRM: between 2008-2017 the state lost 3 billion dollars due to the lack of updating the price of natural gas

Thursday, April 25, 2019

The maintenance of the key price for natural gas by the National Agency for Mineral Resources (ANRM) at a level which was not updated for a period of 10 years, between 2008 and 2017 led to losses in the state budget worth 3 billion dollars, stated on Thursday DorinUrsarescu, the adviser of the ANRM chairman.‘In October 2017, when the new leadership of ANRM took over the position, we noticed things which were very serious. The first thing was the fact that ...

The minister of energy: Closing down the non-competitive mines is a programme assumed by Romania

Thursday, April 25, 2019

Closing down the non-competitive mines is a programme assumed by Romania eight years ago and aims at the mines which raise important issues for the environment and  economic efficiency, consider the representatives of the ministry of energy (ME).‘Closing down the non-competitive mines in Romania is a programme assumed by our country eight years ago, namely in 2011 and altered by the Ciolos cabinet (2016)through the inclusion of two new mines on the list ...

OMV Petrom, investments of RON 4.17 billion in 2019

Thursday, April 25, 2019

OMV Petrom shareholders approved an investment budget of RON 4.17 billion for 2019, from which a large part will go to the upstream segment. “The Ordinary General Meeting of Shareholders approved OMV Petrom SA’s budget for 2019. It is estimated that the investments in 2019 will reach approximately RON 4.17 billion. Most of the allocated amount of about RON 3.42 billion, 82 percent of the upstream investment will partially offset the natural ...

Nuclearelectrica approved dividends of RON 378.9 million from 2018 financial results

Thursday, April 25, 2019

Nuclearelectrica shareholders approved the distribution of dividends totaling RON 378.9 million, the gross dividend per share being RON 1.2567, according to a press release sent to the Bucharest Stock Exchange (BVB). The gross dividend value is RON 378.914 million and the gross dividend per share is RON 1,25670615, with the dividend payment date of June 28, 2019. However, the shareholders rejected the proposal to distribute the amount of RON 438.625 ...

Construction site of BRHA gas pipeline, blocked by archaeological find

Thursday, April 25, 2019

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Works on the Bulgaria-Romania-Hungary-Austria (BRHA) pipeline that will supply the four countries with the Black Sea gas risk being blocked in Gorj county, Romania, where several archaeological sites have been uncovered. Transgaz, the operator of the national natural gas transmission system in Romania, announced ...

Energy Complex Oltenia signs financing contracts for RON 500 million with 6 banks

Thursday, April 25, 2019

The Energy Complex Oltenia signed financing contracts with six banks for loans totaling RON 500 million, necessary for the payment of the pollutant emission certificates, said Sorin Boza, president of the company’s Directorate at the Energy Forum. “We signed the contracts on Friday, and I think it’s a success because the process was very difficult due to the fact that we negotiated with each of the six banks. Funding applications have ...

Gloria Offshore Oil Platform, drilling gas for 43 years, to be decommissioned on 1 May

Thursday, April 18, 2019

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The Gloria Offshore Oil Platform, which has been drilling gas from the Black Sea since 1976, will close its activity on 1 May and will be decommissioned and scrapped, said on Wednesday Sorin Gal, Director General of the National Agency for Mineral Resources (ANRM) at the Energy Forum, organized by Financial Intelligence."The first [oil] explorations in the Black Sea began in the 70's. The drilling in the Istria perimeter, at the renowned Gloria oil rig started in ...

OMV Petrom opens new Polyfuel unit at Petrobrazi, producing gasoline and diesel

Thursday, April 18, 2019

OMV Petrom has opened the new Polyfuel unit within Petrobrazi refinery, using an innovative technology to convert LPG and low-grade light gasoline into high-value petroleum products – gasoline and diesel. This unit is the third of its kind worldwide and the first to convert low-grade light gasoline, as well, not just LPG. ”The new Polyfuel unit brings the state-of-the-art technologies used in the petrochemical and refining industry to the ...

EU Council approves stricter carbon dioxide emission standards for cars, vans

Thursday, April 18, 2019

The Council of the European Union approved stricter carbon dioxide emission standards for cars and vans on Monday, thus being closer to achieving its climate targets, the Ministry of Transport announced on Monday."The EU makes road transport cleaner by setting new strict carbon dioxide emissions standards for cars and light commercial vehicles. Thus, the EU will be closer to achieving its climate goals and ensuring that car makers contribute to efforts to reduce ...

BSOG receives Gov’t approval for the Field Development Plan for the Ana and Doina gas fields

Thursday, April 18, 2019

Black Sea Oil & Gas SRL (BSOG) together with its co-venture partners, Petro Ventures Resources SRL and Gas Plus International B.V. announce that, following the taking of FID on February 6, 2019, they have now received the approval from the Romanian Government through the National Agency for Mineral Resources (ANRM) for their Field Development Plan (FDP) for the development of the Ana and Doina natural gas fields which make up the Midia Gas Development Project (MGD ...

MOL Group to acquire Aurora, a recycled plastic compounder with production plants for the automotive industry

Thursday, April 18, 2019

MOL Group singed a sales-purchase agreement to acquire Aurora Group, a recycled plastic compounder with production plants located nearby automotive plants and plastics conversion clusters in Baden-Wurttemberg, Germany. The acquisition is in line with the company’s 2030 Strategy to extend petrochemical portfolio with higher value-added products. Aurora is a medium-size German company, headquartered in Neuenstein, with a unique and lean closed loop ...

PRIMARY ENERGY RESOURCES DURING 1.I.–28.II.2019

Thursday, April 18, 2019

During 1.I – 28.II.2019, primary energy resources increased by 0.5%, while those of electricity decreased by 6.0% as compared to the same period of previous year. The main primary energy resources during 1.I.-28.II.2019 amounted to 5866.7 thousand tonnes oil equivalent1 (toe), increasing with 26.7 thousand toe as against 1.I.-28.II.2018. Domestic production amounted to 3346.1 thousand toe, decreasing with 141.0 ...

Gazprom-owned company finds oil in Romania, aims to begin production later this year

Thursday, April 18, 2019

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Nis Petrol Romania, a company indirectly owned by Russian giant Gazprom, has confirmed for e-nergia.ro that it has found oil in western Romania. Nis has already signed an agreement with Conpet to retrieve and deposit the oil for testing and will begin experimental ...

Government: state aids for closing down the non-competititve mines in the CE Hunedoara and Valea Jiului

Thursday, April 11, 2019

The government approved on this Wednesday the granting of state aids for the closing down of the non-competitive coal mines in the Complex Energetic Hunedoara and the Societatea Nationala de Inchideri Mine Valea Jiului SA announced on Wednesday the spokesperson of the government Nelu Barbu. ‘The government approved two government decisions, at the proposal of the ministry of energy, regarding the approval of granting state aids  to ...

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