Hungary: US exemption of gas payments from Russia Gazprombank sanctioned
In a video on social media, Hungarian Minister of Foreign Affairs Peter Szijjarto stated that the United States had granted exemptions for gas payments from the sanctions they imposed against Russia's Gazprombank. The U.S. implemented sanctions against Gazprombank in November, creating a barrier for European gas buyers. Gazprombank was used by buyers to pay for their purchases. Hungary, which relies primarily on Russian oil, gas and other energy sources, requested an exemption from the U.S. These countries, including Turkey and Slovakia, are seeking clarifications and alternatives to pay for the U.S. Gazprombank sanctions.
Slovakia has a strong interest in ensuring transit of Russian gas and oil via Ukraine
Robert Fico, the Prime Minister of Slovakia, said that the country has a great interest in continuing the flow of oil and gas from Russia through Ukraine to the West. He added that the European Commission was putting pressure on the country to stop these supply flows. Fico said to reporters that the Slovak government and Ukrainian cabinet would meet on Monday. Due to Ukraine's ongoing war against Russia, the central European nation faces disruptions in its key Russian energy supply. Ukraine has said that it will not renew its gas transit agreement with Russia by the end of this year.
OMV Petrom Makes Largest Crude Oil Discovery in Decades
Romanian oil and gas group OMV Petrom, majority-controlled by Austria's OMV, said on Tuesday it discovered new crude oil and natural gas deposits equal to about three quarters of its overall 2022 production.The deposits are the largest crude oil discovery OMV Petrom has made in decades, it said, and were found in southern Romania holding over 30 million barrerls of oil equivalent (boe) of recoverable resources."The new discoveries will contribute to reducing the decline of our production and to the continuity of the supply of essential products for the economy…
Gas Prices Soar in Europe on Tight Russian Supply
European gas prices soared more than 30% on Tuesday as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.A key pipeline which normally delivers gas from Siberia to Europe continued to work in reverse on Tuesday, traders said, sending flows from Germany to Poland, while supplies of Russian gas from Ukraine to Slovakia were also subdued.Russian energy exports have been in the spotlight amid the country's broader standoff with the West , including over its tensions with neighboring Ukraine…
Six Dead After Blast at Czech Refinery
An explosion killed six people at a refinery in the Czech Republic on Thursday, rescue officials said. Two other people were taken to hospital with serious injuries, a fire department spokeswoman told Czech Television. The blast occurred at Unipetrol's plant in Kralupy nad Vltavou about 30 km (19 miles) north of Prague. "There was an explosion at the storage tank but no subsequent fire in the Kralupy refinery," Unipetrol spokesman Pavel Kaidl said. "The situation is under control and there is no other danger. The mayor of Kralupy told Czech Television the blast occurred during cleaning of the storage tank.
France's Engie Exploring Sale of German Power Plants
French energy group Engie is considering selling its power plant assets in Germany in a deal that could fetch a few hundred million euros, two people familiar with the process told Reuters. Engie owns or holds stakes in three hard coal-fired power plants in Germany. It is the sole owner of the 472 megawatt (MW) Zolling site near Munich and the 351 MW Farge plant, and has a 52 percent stake in the 731 MW site in Wilhelmshaven. One of the people said Engie had hired JP Morgan to advise on selling the assets, which could also include its local retail business. The source said the sale could also cover Engie's 800 MW Centrale Rotterdam plant in the Netherlands.
New Czech Firm to Invest in European Power
Czech energy investor Pavel Tykac has set up Seven Energy holding company to invest more than 1 billion euros mainly in European power plants fired by fossil fuels, even as many utilities shift their focus to renewables. The strategy mirrors that of Czech energy firm EPH, which has profited from buying up older plants in Germany, Britain, Italy and elsewhere in recent years. Tykac, who owns the Chvaletice power plant and coal mines in the Czech Republic, failed in his first bid to expand in power markets two years ago when he lost to EPH in a tender to buy lignite plants in Germany.
Czech Energy Group EPH Profit Drops Despite Higher Sales
Acquisitive Czech power group EPH, one of central Europe's biggest energy firms, saw its profit slip in the first half of the year despite increasing sales. EPH has been snapping up coal, gas and nuclear power assets in recent years, betting they will remain strong energy sources and pay off once electricity prices rise from lows. It bought Vattenfall's lignite plants in Germany this year and sold a 30 percent stake in its EP Infrastructure unit to a group of investors led by Macquarie Infrastructure and Real Assets. On Thursday the company posted a slight drop in first-half adjusted core profit (EBITDA) to 799 million euros from 834 million in the same period a year ago…
Unipetrol: Switajewski Removed as CEO and Board Chairman
Czech oil refiner Unipetrol supervisory board has removed Marek Switajewski from the position of board chairman and he will also be leaving the post of chief executive, the company said on Friday. Andrzej Modrzejewski was elected as the new chairman, the company said in a regulatory filing. No reason was given. Unipetrol is majority-owned by Poland's PKN Orlen. (Reporting by Jason Hovet and Jan Lopatka)
Czech Energy Group EPH to Float Stake in Infrastructure Unit
Czech energy company EPH is planning to sell a minority stake in its newly-created EP Infrastructure (EPIF) business on the stock market by the end of June, the company said on Tuesday. EPH has grown via acquisitions in recent years into one of central Europe's largest power companies and announced plans last year to hive off its infrastructure businesses with the intention of floating shares or selling a stake to an investor. EPIF will house EPH's assets in gas transmission, gas and power distribution, heating distribution and gas storage.
EPH, PPF Investments Bid for Vattenfall's German Iignite Assets
Czech groups EPH and PPF Investments have submitted a binding offer for Swedish utility Vattenfall's lignite mines and power plants in Germany, EPH said on Wednesday. "We believe that our binding (bid) offers a fair and firm value for the assets and clearly demonstrates our commitment to the transaction, the industry and the region," EPH Chairman Daniel Kretinsky said in a statement.
Czech Industry Minister Tells NWR Needs Survival Plan
The Czech industry minister urged loss-making coal miner New World Resources (NWR) on Thursday to come up with a new plan, after the government rejected the company's request for state aid to help it survive a coal price slump. The industry and trade ministry postponed talks with NRW on Wednesday after receiving the company's request for aid and other proposals, but has said it is ready to take action to save jobs. "From the point of view of the government the highest priority is of course to help the miners, the people in the area, the people in the region," Industry and Trade Minister Jan Mladek said on Thursday. "The situation is serious ...
Pegas Says Does Not Expect Impact from Unipetrol Stoppage
Czech artificial fabrics maker Pegas Nonwovens is on the "safe side" with raw material supplies for now despite a stoppage of production at supplier Unipetrol, Pegas's chief executive said on Thursday. A fire earlier this month halted petrochemical production at Czech downstream oil group Unipetrol's plant and the company said on Thursday a resumption of full production was still a matter of months. When asked about the impact on Pegas, CEO Frantisek Rezac said the company had the support of other suppliers and also had its own safety stock of raw materials and finished products.
Eustream: Launch of Gas Link to Hungary Under Threat
Slovak pipeline operator Eustream said on Thursday the commercial launch of a gas interconnector between Slovakia and Hungary is under threat because the Hungarian side has not handed over a section of the pipeline. Eustream said the section passed underneath a river on Slovak and Hungarian territory. Slovakia could not operate its section of the pipeline until it is handed over, it said, adding the construction site was not in a state agreed for handover. "Eustream is ready to launch the commercial operation of the pipeline, immediately after solving this issue," it said. (Reporting by Jason Hovet)
Skoda JS Wins Nuclear Fuel Container Deal with CEZ
Skoda JS has won a tender worth 2.7 billion crowns ($107.99 million) to supply Czech utility CEZ's Temelin nuclear power plant with containers for spent fuel, the companies said on Monday. Skoda JS, owned by Russian heavy engineering group OMZ, will deliver the first container at the end of 2018, followed by two to six containers a year until 2035. (Reporting by Jason Hovet and Robert Muller)
Hungarian-led Consortium Still Interested in Enel's Slovak Utility Stake
A Hungarian-led consortium is still interested in bidding for Enel's majority stake in the main Slovak electricity producer, the head of one of the companies in the group said on Thursday. The comment comes after Slovak Prime Minister Robert Fico said last week that the state, which owns 34 percent of Enel's Slovenske Elektrarne, would "actively obstruct" a sale because of uncompleted units at the Mochovce nuclear power plant. Oszkar Vilagi, head of Slovak oil refiner Slovnaft, which is owned by Hungarian oil and gas group MOL, said the consortium with Hungary's state-owned MVM Group was still interested in the Italian energy group's stake.
Unipetrol Bolstering Czech Reserves with 40,000m3 of Jet Fuel
Czech downstream oil group Unipetrol said on Monday it would supply 40,000 cubic metres of jet fuel to the country's reserves. Deliveries should be completed by October this year, Unipetrol said. Reporting by Jason Hovet
Czech EPH Completes Acquisition of Eggborough Power Plant in Britain
Czech energy company EPH said on Friday it had completed a deal to buy the 2,000 MW Eggborough coal-fired power plant from Eggborough Power Limited, its first acquisition in Britain. EPH had announced an agreement on the deal and has since received European Commission approval. Earlier this month, EPH also agreed to buy German utility E.ON's Italian gas- and coal-fired power plants. Reporting by Jason Hovet
Eustream Says Ready to Begin Testing Gas Link to Hungary
Slovak gas pipeline operator Eustream said on Monday it was ready to begin testing a new Slovakia-Hungary link. The two countries' pipeline operators announced this month the start of the open season for capacity on the interconnector, with bids due Dec. 15. The gas link should start full operations on Jan. 1. (Reporting by Jason Hovet; editing by Jason Neely)
EPH Vies for E.ON's Italian Assets
Privately-held Czech energy group EPH is interested in buying some Italian assets put on the block by German utility E.ON, potentially pitting it against France's EDF in a 2 billion euro ($2.5 billion) battle, two sources close to the matter said on Thursday. "It has been confirmed internally at the company (EPH)," one of the sources said, adding that EPH sees itself as being in a good position to win the auction. Edison, an Italy-based utility owned by French power giant EDF, remains interested in E.ON's Italian operations, a source familiar with the situation said. Another source said EPH may end up buying just gas turbine assets.
