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.
ANDREI MAIOREANU: THE ENERGY STRATEGY WILL MENTION THE MAJOR INVESTMENT PROJECTS OF NATIONAL INTEREST
The final form of the national energy strategy will mention several investment projects, among which the 600 MW of Rovinari and the new Cernavoda nuclear reactors, the state secretary in the Ministry of EnergyAndrei Maioreanu announced in the Keynote Speech opening 5th edition of the energynomics AwardsGala. The official reaffirmed the basic principles for the development of the Romanian energy sector, including interconnection with neighboring markets, ensuring competition in the energy markets and increasing Romania’s contribution to the regional and European markets by capitalizing on the national primary energy resources.