Preventing imbalances on the gas market
A few days of freezing weather have uncovered the lack of flexibility in the national natural gas system and have…
ANRE issued 1 million lei fines for 15 companies in the natural gas segment
The National Regulatory Authority for Energy (ANRE) paid fines totaling one million lei to a number of 15 participants in…
Deloitte expects investments of $ 22.5 billion in the Black Sea oil industry by 2040
Investments in the Black Sea oil and gas sector will generate revenues of over 26 billion USD to the state…
MOL Group posts a 2% growth of EBITDA in Q1, Romanian Diesel up 2.5%
MOL Group announced its financial results for Q1 2018. In the first quarter MOL Group increased its clean CCS EBITDA…
Net profit of 854 million lei for OMV Petrom in Q1, similar investments
OMV Petrom announced a net profit of 854 million lei, in the first quarter of this year, up 38% compared…
Russia’s Gazprom takes $3.4b impairment on Ukraine legal dispute
Russian gas giant Gazprom took a 213 billion rouble ($3.4 billion) impairment in relation to its legal row with Ukraine,…
OMV Petrom increases the investments in 2018 by 58%, to 5.5 billion lei
The Ordinary General Meeting of Shareholders approved OMV Petrom S.A.’s 2018 investment budget of 5.55 billion lei, up 58% from…
BP confesses ‘mistake’ in forecasting renewable energy growth
When oil and gas major BP published its 2018 Energy Outlook last February, the group’s chief executive underlined in the…
Shell gets 950 mln. USD from Argentina assets sale
Shell Argentina signed an agreement for the sale of its 645 service stations to Brazil-based Raízen for US$950mn in cash,…
Egypt is ready to be an energy hub for Europe
With gas production in full swing across a number of sites in Egypt, the country is ready to become a…
Romania imported 20% more oil in the first two months
In the first two months of 2018, Romania imported 1,453 million tons of crude oil equivalent, with 242,500 toes (20%)…
Sanctions imposed on Russia present a ”huge risk,” Energy minister
The Russian Energy minister said that sanctions imposed on his country are economic competition measures that impact negatively on its…
KMGI extended a 360 mln. USD credit line by 2021
The KMG International Group (KMGI) has amended and extended its USD 360 million multicurrency revolving credit facility on Friday, 20…
Greece accepts Snam-led consortium’s offer for gas grid DESFA, Romania’s Transgaz loses bid
Greece has accepted a 535 million euro offer from a consortium led by Italy’s Snam for a majority stake in…
The Ministry of Environment will change the legislation on green alternative fuels to include compressed natural gas
Although the European directives include compressed natural gas (CNG) in the list of green alternative fuels, it is not included…