TRANSGAZ: THE BASIC PRINCIPLES FOR THE FUTURE ENTRY-EXIT SYSTEM IN THE NATURAL GAS MARKET
According to a document from Transgaz, the proposed entry-exit system creates the premises for increasing the liquidity of the natural gas market in Romania, especially regarding short-term (daily / intra-day) transactions. This document is the first result of a working group formed last Autumn by representatives of DG ENERGY, ACER, ENTSOG, ANRE and TRANSGAZ, in order to check the compliance of the current regulatory framework with the provisions of European legislation and to formulate concepts / specific recommendations for amending national secondary legislation or other applicable rules.
CE WILL SUE ROMANIA IN THE CASE OF MOVING ALL THE GAS TRADING TO OPCOM
The European Commission will sue Romania at the European Court of Justice if the Bucharest Parliament adopts the amendments to the Emergency Ordinance 64/2016 on natural gas, European Energy Commissioner Miguel Arias Canete said on a meeting in Brussels with representatives of the Romanian energy sector.
CE OLTENIA ESTIMATES PROFITS OF OVER 44 MILLION LEI IN JANUARY
The Oltenia Energy Complex estimates for January a profit of more than 44 million lei, after a profit of approximately 200 million lei last year, says a statement posted on the company’s website.
BUCHAREST CITY MAYOR G. FIREA: PERHAPS IT WOULD BE BETTER NOT TO TAKE OVER ELCEN
Bucharest City Mayor Gabriela Firea expects “in a decent time” ELCEN to set the amount that the municipality should pay for the acquisition of the company, and then the General Council will decide whether the ELCEN takeover from the Ministry of Energy is efficient.
ENERGY COMPLEX OLTENIA ESTIMATES PROFIT OF OVER RON 44 MILLION IN JANUARY AND DENIES INSOLVENCY RUMOURS
The Energy Complex Oltenia estimates profit of over RON 44 million in January and approximately RON 200 million in 2017, denying the insolvency rumours.
BLACK SEA GAS AND INTERNATIONAL EXPANSION ARE THE ANSWERS FOR THE FUTURE OF OMV PETROM
Over the past 12 years, the company has invested over 13 billion euros, said Mariana Gheorghe, CEO of OMV Petrom, in the press conference for the presentation of the preliminary financial results in 2017. These investments allow the main oil company in Romania to announce that it detains proven reserves of hydrocarbons for 10 more years, a time horizon similar to the one calculated in 2004, the year of privatization.
BUCHAREST MINICIPALITY VOTED ITS ANNUAL BUDGET, RADET GETS 76 MLN. LEI FOR INVESTMENT
The General Council of the Capital adopted the Bucharest City Budget Draft for 2018, which provides for expenditures of 6.2 billion lei and total revenues of 5.7 billion, supplemented by the 560 million lei surplus from previous years. The RADET district heating company got 76 million lei for investments and 397 million lei in subsidies.
PETRU ION VĂDUVA TO BE NAMED CEO AT CHIMCOMPLEX BORZESTI
Petru Văduva, former general manager of Transgaz, will become CEO of Chimcomplex Borzeşti, after the company will take over the main assets of the Oltchim plant, according to a press release issued to Agerpres on Wednesday. “Chimcomplex SA Borzeşti, the winning company to acquire the main assets of Oltchim, consolidates its top management positions with well-trained people to successfully set up the Romanian Chemical Company that will integrate the two industrial platforms – Borzeşti and Ramnicu Valcea – to become a relevant industrial player in the industry”, according to the communiqué quoted by Agerpres.
ENVIRONMENT MINISTRY’S BUDGET FOR 2018 COVERS STATE AID SCHEME FOR RECYCLING INDUSTRY
The Environment Ministry’s budget for 2018 comprises a state aid scheme for recycling industry in Romania, said on Thursday the Environment minister Gratiela Gavrilescu.
HARALD KRAFT: ALL MEMBERS OF ROPEPCA PAID THE ROYALTY AT THE SELLING PRICE, NOT AT THE REFERENCE FROM NAMR
With regard to the amounts calculated by the Court of Auditors as being unpaid in the last years on account of oil royalties, it seems that we are witnessing a perfect example of a dialogue of the deaf. NAMR mentions payments made on the basis of an outdated benchmark of its own, and thus it seems to support a previous position from the Court of Auditors, while ROPEPCA has repeatedly stated that the reference in the calculation of the royalties payable by the producers was the price at which they were concluded sale transactions of their produced output, higher than the NAMR reference. We discussed these issues with Harald Kraft, ROPEPCA President, as well as other hot issues in the oil and gas industry.