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Energy & Environment

CEZ Group to sell its businesses in Romania

Thursday, May 23, 2019

Czech group CEZ is reportedly planning to sell off its business in Romania, including energy distribution, supply and production, according to industry sources cited by profit.ro. Sources said that Romanian authorities had already been informed of the company’s plans. A Czech official is expected in Bucharest on Thursday to discuss CEZ’s next steps, but company representatives have not yet made any ...

Nord Stream 2 gas pipeline opening to be delayed to 2020

Thursday, May 23, 2019

The timetable for the Nord Stream 2 pipeline project to Germany is changing, according to Gazprom general manager Alexey Miller, cited by Reuters. His statement comes after Nord Stream 2 AG project operator announcement that the delay in obtaining licenses in Denmark could postpone the opening of the gas pipeline to 2020. Russian gas group Gazprom will bear half of the construction costs of the Nord Stream 2 pipeline, estimated at EUR 9.5 billion. The ...

Gazprom confirms first gas via TurkStream by December

Thursday, May 23, 2019

TurkStream sub-sea section and Russia’s land section have been finished while Turkey’s onshore section is nearly 73% complete. Russia’s Gazprom expects to send its first gas through the TurkStream natural gas pipeline to Turkey by the end of December, Gazprom’s deputy chairman Vitaly Markelov said late Tuesday. He confirmed that the sub-sea section to transport 31.5 billion cubic meters per year from ...

EU renewable electricity hopes get welcome jolt

Thursday, May 23, 2019

Fifty percent of the EU’s electricity will have to come from renewable energy sources by 2030 but the issue is more than just a matter of building more solar panels and wind turbines. The structure of Europe’s power grid will have to change, euractiv.com reads. According to new EU rules for the next decade, the bloc will have to get 32% of total energy from renewable energy by 2030 and make sure 14% of transport’s needs are from clean ...

Tariceanu to the PM: Mind the Exxon-OMV offshore contract

Thursday, May 23, 2019

Senate President Calin Popescu Tariceanu asks the prime minister to pay more attention to the extension of the concession contract that would allow the consortium formed by Exxom and OMV to exploit the Black Sea gas, saying that without the contract, the two companies would not invest in the offshore project, according to news.ro and profit.ro. “As you know, last year, in Parliament, we made a series of adjustments and adopted the law on offshore ...

ANRE is working on the aggregation of renewable sources

Thursday, May 23, 2019

The market regulator, ANRE, pledges the possibility of aggregating several players from renewable sources, energynomics.ro has learned. “ANRE is working to the legislation for the aggregation of different sources, such as wind and solar,” the quoted source said. Aggregation could allow both big players and prosumers to take advantage of the game of balancing energy sales between maximum and minimum consumption and production points between ...

OMV Petrom completed the modernization of the Arad fuel depot

Thursday, May 23, 2019

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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

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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

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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

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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

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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

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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

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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 ...

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