PAUL BRUMMELL: WE ARE NOT LEAVING EUROPE; ALL OUR VALUES REMAIN EXACTLY THE SAME
Your Excellency, you have been the British ambassador in Romania since 2014, starting with just a few months before the election of a new president here. And there were turbulent times afterwards, with four or more governments in three years, with significant changes in the public agenda and sentiments, with huge street protests and significant tensions which at times seemed to put politicians against most of Romania’s external partners and their representatives here. How would you describe the country you discovered in these past three or four years?
THE NEW ROYALTIES’ FRAMEWORK IN THE ROMANIAN O&G UPSTREAM
The Economy Ministry published in October the draft law for mineral, petroleum, and hydro-mineral resources. The document includes a much anticipated new royalties’ framework for the upstream O&G sector. Indeed, after three years of uncertainty caused by rumors and various attempts to change the royalties’ regime, and against the backdrop of politically hyped expectations that the government’s take from the extraction of oil and gas should raise, the draft law has brought investors a needed degree of clarity and closure.
POSITIVE DEVELOPMENTS IN THE LEGISLATION RISE HOPES FOR THE OFFSHORE SECTOR
This October, Bucharest hosted the 5th edition of the Black Sea Oil & Gas conference, organize by GBC. There were two days of unrivaled networking, and updated information on existing and pending offshore and onshore activities in the region. As a media partner, energynomics.ro had the chance of some insightful dialogues with some of the top experts and decision-makers participating.
SAND HILL PETROLEUM ROMANIA TO INVEST UP TO 20 MILLION EUROS IN 2018
Sand Hill Petroleum Romania SRL (”Sand Hill”) is one of the newcomers in the Romanian Upstream sector (crude oil and natural gas exploration, development and production). Lured by the potential of the local onshore underground, Sand Hill plans to invest up to 20 million euros in Romania in 2018 for exploration.
FP IDENTIFIED THE WORST DAY OF CORPORATE GOVERNANCE IN ROMANIA
Fondul Proprietatea considers 2017 as a a difficult year, marked by blatant disregard, attacks and systematic abuses of corporate governance. On top of this, the vote on Wednesday in the Parliament made it “the darkest day in the history of corporate governance in Romania”. The Parliamentary majority decided to replace professional management in state-owned companies with political appointments.
UNICREDIT JOINS GEFF WITH 45 MLN. EURO EBRD LINE
The EBRD is extending its support for energy efficiency investments in Romania’s residential sector through a loan of up to RON 206 million (EUR 45 million equivalent) to UniCredit Bank Romania SA and UniCredit Consumer Finance IFN SA. The other bank that joined GEFF facility is Banca Transilvania.
WHY WE NEED A COMPETITIVE ENERGY MARKET
Daniel Apostol, Secretary General of ROPEPCA
ECONOMY MINISTRY: TRANSGAZ DOESN’T GIVE UP THE BUYOUT OF MOLDOVIAN GAS OPERATOR
The Ministry of Economy continues to support Transgaz’s takeover of Moldova’s Vestmoldtransgaz gas operator, and the vote in the company’s general meeting on Tuesday reflects only the denial of an accounting artifice, as the only competent authority to take such a measure is the Board of Directors.
ABB OPENS ITS FIRST-EVER ROBOTICS CENTER IN ROMANIA
ABB inaugurated its training center for robotics, established through public-private partnership with the Polytechnic University in Bucharest, within the Faculty of Engineering and Management of Technological Systems, Machine and Manufacturing Systems Department (MSP). The fully equipped training center will serve ABB’s customers, partner companies and the University students.
THE OPERATORS LOSE YET ANOTHER PERCENTAGE POINT FROM THE REGULATED POWER DISTRIBUTION TARIFFS
The Regulatory Committee of the National Regulatory Authority for Energy – ANRE approved on Tuesday, December 12, 2017, the specific tariffs for the electricity distribution service and the reactive electricity price for the distribution operators in 2018, according to a press release.