Energy
October 17, 2016 11:12
OMV Petrom, the largest oil and gas producer in South-Eastern Europe and Mazarine Energy Romania S.R.L., a fully owned Romanian subsidiary of Mazarine Energy announce that parties have reached agreement on the transfer of 19 onshore oil fields plus three workover rigs and associated crews to Mazarine Energy Romania S.R.L. for an undisclosed purchase price. ...more »
September 30, 2016 15:17
Romania's energy security and strengthening US investment in the Romanian energy sector were the main topics of discussion in the framework of the fifth meeting of the Task Force for the implementation of the Strategic Partnership Romania - US. "We have a common interest in supporting BRUA pipeline construction, for which Romania has already achieved important European financing, or interconnection with Moldova for natural gas. ...more »
September 20, 2016 16:37
The Board of Directors of Electrica SA has appointed Dan Cătălin Stancu to the position of CEO, who will assume this responsibility as of October 24, 2016 informs the company in a press release. Dan Cătălin Stancu succeeds as CEO Iuliana Andronache - CFO, who assures the interim since March 2016. ...more »
July 14, 2016 16:55
Telecom operator RCS&RDS is the new energy supplier of the Romanian Television (SRTv), whereas CEZ is going to supply for Dacia Renault plant, the biggest company in Romania. RCS&RDS has won the bidding against Electrica, Industrial Energy, Elsaco and Enel Energie Muntenia. The contract period is one year, until July 2017, and RCS&RDS is going to charge 2.2 million RON (approx 490 000 EURO) without VAT, for delivering 6.842 MW (medium tension) to the headquarter in Bucharest, and 52.5 MW (low and medium tension) to the studios in Targu Mures, Cluj, Iasi, Craiova, and three more....more »
June 30, 2016 13:42
The Ministry of Energy proposed the Government to freeze the price for natural gas for population for the next nine months, until 31st of March 2017, according to a draft decision.  The current calendar agreed by the government with the ...more »
June 21, 2016 16:13
After 4 years of insolvency, the Bucharest Court decided on the 21st of June that hydro power producer Hidroelectrica can exit insolvency. Since 2012, Hidroelectrica has faced two insolvency procedures (2012-2013 and February 2014 – to date). During this years the company returned loans to banks and cancelled 11 onerous bilateral contracts worth 1.1 billion euro with several energy traders and final consumers: Energy Holding, Alpiq Romindustries, Alpiq Romenergie, Energy Financing Team, Alro Slatina, ArcelorMittal Galati, Electromagnetica, Electrocarbon, Euro-Pec, Elsid, Luxten....more »
June 16, 2016 16:01
Oscar Downstream, the largest independent oil & gas company, distributor for companies, celebrated on the 15th of June 15 years on the Romanian market. Oscar Downstream's businesses include classical distribution through fuel cards in their own network of 31 stations and fuel distribution in 1500 stations installed directly at the client, as main segments....more »
June 07, 2016 16:16
Hidroelectrica threatened Translectrica and CEZ with a law suit for moral and material prejudice caused by accusations in the power blackout on the 1st of June in counties Valcea and Arges, leaving 150 000 individual and industrial consumers without electricity.  According to Hidroelectrica, the common briefing sent by Transelectrica (energy transportation) and CEZ (energy distribution) was "built on a lie", "tendentious" and "prejudicial". They also state that they have no fault in the matter, since their power flows were 70 MW below the allocated power and they notified Transelectrica about it the day before. ...more »
May 30, 2016 21:44
After the approval within the Supreme Council of National Defense (CSAT) of the report edited by the Ministry of Energy concerning units 3 and 4 in Cernavoda, President Klaus Iohannis declared on the 27th of May that the nuclear energy quota will increase to 30-32 %. According to the president, this change will have a major impact in the economic growth, and also in keeping and creating jobs. ...more »
May 30, 2016 17:12
Gas transport companies SNTGN Transgaz and GRTgaz France signed a memorandum for cooperation on the 25th of May in Bucharest, in the presence of the Ambassador of France in Bucharest, Francois Saint-Paul, state secretary in the Ministry of Energy, Aristotel Jude, and representatives of French and Romanian specialty companies. According to Saint-Paul, this is "an agreement for implementing the European Energetic Strategy in Romania" and "it illustrates perfectly the cooperation and the connections that could take place between our countries". The memorandum was signed by President CA Transgaz, Ion Sterian, and the Head of European Funds and International Affairs Ciprian Alic for the Romanian side, as for the French side, it was signed by Thierry Trouve, General Manager of GRTgaz, and Laurent Thery, head of international development of GRTgaz. ...more »
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