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Energy & Environment

Governing program: Energy priorities - nuclear agreement with U.S., Black Sea gas, energy investment fund

Thursday, November 25, 2021

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Developing a nuclear program based on U.S. technology, unblocking the Black Sea gas projects and setting up an energy investment fund are some of the goals set out in the Energy chapter of the 2021-2024 Governing Program pledged by the PNL-PSD-UDMR coalition."Decarbonising the energy supply in line with the EU target of cutting greenhouse gas emissions by at least 40 percent from 1990 levels can only be achieved by increasing the nuclear production ...

Rompetrol Rafinare cooperates with anti-corruption authorities in case of fake sludge lagoon dredging

Thursday, November 25, 2021

 KMG International Group was surprised to learn about the action this morning by DIICOT Ploiesti anti-corruption prosecutors in connection with the greening of the historic sludge lagoons at the Vega Ploiesti refinery, part of Rompetrol Rafinare, but cooperated with the judicial authorities and provided all the necessary documents and information, the company said in a release today."Up until now, none of the Rompetrol Rafinare employees has been ...

OMV Petrom's new strategy for 2030 sets out ambitious environmental targets

Thursday, November 25, 2021

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In its new strategy for 2030, energy company OMV Petrom sets itself new, more ambitious environmental targets, in line with the Fit for 55 proposals, company CEO Christina Verchere told a specialist conference on Monday.According to her, the company has already reduced its carbon footprint by 26 percent compared to 2010."This was our goal for 2025 and we have already attained it four years earlier. We have also started to build charging stations ...

Enel to reduce investments in Romania, if authorities do not alter compensation measures and bill capping

Thursday, November 25, 2021

The measures for compensating and capping energy bills, adopted by Romania, are incorrect, create instability and discourage investors, thus the Italian group Enel will reduce investments in our country if these provisions remain in effect, the Enel officials said on Wednesday, during the Enel Capital Markets Day conference.Francesco Starace, Enel CEO, said that the European Union published a few months ago a set of measures called Tool Box, which the ...

OMV Petrom to begin USD 30 mln seismic campaign in Georgia's offshore next year

Thursday, November 25, 2021

  OMV Petrom, the most important oil and gas company in Romania, will launch in 2022 a large seismic campaign on the continental shelf and in the offshore economic zone of Georgia, a campaign estimated at a value of USD 30 mln.   Last year, OMV Petrom announced that it was going to explore the oil and gas fields in the Georgian territorial waters of the Black Sea after winning the tender for ...

Dacian Petroleum takes over 40 onshore oil and gas fields from OMV Petrom

Thursday, November 25, 2021

  The Romanian Government cleared the transfer of the rights and obligations related to 40 oil concession agreements from OMV Petrom to Dacian Petroleum, a company founded by Ion Popa - the former general manager of Petrom until the privatization, during 1992-2003.   Dacian Petroleum will pay USD 17.8 mln to buy the 40 fields, according ...

Nuclearelectrica confirms plans to replace coal-power plants with small nuclear reactors

Thursday, November 25, 2021

The locations of the small-sized nuclear reactors in Romania will be decided under a study that started last year, but some of them may coincide with the coal-fired power plants that were closed or are going to be closed, confirmed Teodor Chirica - CEO of Romanian nuclear company Nuclearelectrica, which recently sealed with the US peer NuScale a memorandum for the development of such power generation units across the ...

EC includes second stage of BRUA pipeline among critically important projects

Thursday, November 25, 2021

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The European Commission on Friday (November 19) approved the fifth list of Projects of Common Interest in the field of trans-European energy infrastructure, a list that includes several projects in Romania - especially the second phase of the BRUA (Bulgaria - Romania - Hungary - Austria) pipeline ...

Romania's Jan - Sep coal production up 20.8 pct YoY

Thursday, November 25, 2021

Romania's net coal production over January - September 2021 amounted to 2.404 million tons of oil equivalent (toe), up 20.8 percent (413,200 toe) from the same period of 2020, according to data released by the National Institute of Statistics (INS).In the reporting period Romania imported 353,600 toe of net coal, by 41,200 toe (13.2 percent) more y-o-y.Estimates by the National Strategy and Prognosis Commission (CNSP) see this year's coal ...

Competition Council authorizes takeover of shares from National Uranium Company by Nuclearelectrica

Thursday, November 25, 2021

The Competition Council authorized the transaction by which Nuclearelectrica takes over from the National Uranium Company shares of the technical processing line of uranium concentrate of E Refinery Works – Feldioara branch, according to a press release.   The main activity of Nuclearelectrica is producing electric and thermal energy by nuclear procedures and producing nuclear fuel by using CANDU 6 ...

Romania, US discuss potential cooperation on offshore wind resources

Thursday, November 18, 2021

Romanian and American officials discussed on November 11, in Washington, about a possible bilateral collaboration for the installation of offshore wind farms in the Black Sea, in the broader context of the bilateral cooperation in the field of energy, with particular attention to the implementation of the Intergovernmental Agreement for cooperation on Romania’s nuclear power program signed last ...

Romanian gas producers to no longer be taxed based on Vienna price

Thursday, November 18, 2021

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   Romanian gas producers will no longer be taxed based on the reference price of the Vienna gas market, but the Romanian market price will be take into consideration, the Acting Minister of Energy, Virgil Popescu, declared on Wednesday, during the Focus Energetic conference."We have a complicated winter as a result of market turbulence. I am convinced that we will get through it fine, the stocks are within parameters. There are gas stocks ...

Oltenia Energy Complex expects restructuring plan to be approved by European Commission in January 2022

Thursday, November 18, 2021

The European Commission could approve the restructuring plan of the Oltenia Energy Complex in January 2022, after the company proves that there are investors interested in its development projects, the chairman of the Oltenia Energy Complex board, Daniel Burlan said on Wednesday."At the last analysis, the representatives of the European Commission appreciated the progress made by Romania and showed that only time separates us from a favorable decision. We ...

Crude oil imports increase by 4.3 pct in first nine months of 2021

Thursday, November 18, 2021

  Romania imported, in the first nine months of 2021, over 5.189 million tons oil equivalent (toe) of crude oil, by 212,400 toe (4.3 pct) more than the quantity imported in the similar period of 2020, according to data centralized by the National Institute for Statistics (INS).Crude oil production rose to nearly 2.34 million toe, being 4.4 pct (106,500 toe) lower compared to the production of the previous year.According to the ...

Restart Energy implements a solar project worth 360.000 euro for Avastar

Thursday, November 18, 2021

  Restart Energy, one of the largest independent energy suppliers for electric energy and gas on the local market, announces signing a contract worth 360.000 euros with Avastar company, for installing a photovoltaic project with a power of 570 kWp. The project involves 1.140 photovoltaic panels, covering 3.400 sqm, installed on the rooftop of Avastar slaughterhouse in Liteni, Suceava ...

OMV Petrom may announce EUR 10 bln investments by 2030

Thursday, November 18, 2021

OMV Petrom announces that, on December 7, 2021, the company will ...

Hidroelectrica’s profit doubles in Jan-Sep on higher output and price

Thursday, November 18, 2021

Romanian state-controlled hydropower group Hidroelectrica, in the process of diversifying its production base to include new renewable resources, reported a record net profit of RON 2.65 bln (over EUR 0.5 bln) in January-September this year, more than double (+103%) compared to the same period last year.   The company’s revenues increased by 70% YoY as the sales from own production expanded by more ...

Romgaz reports 22.7% higher net profit in Jan-Sep

Thursday, November 18, 2021

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In the first nine months of 2021, Romgaz Group announced that its revenues rose by 19.8% YoY to RON 3.50 bln. In Q3 alone, its consolidated revenue increased by 71.9% YoY.   The Group’s net profit increased slightly steeper, by 22.7% YoY to RON 1.156 bln. Consolidated net profit per share (EPS) was RON 3.0, 22.7% higher than the one recorded in the first nine ...

Core Value Capital plans 1GWh PV parks in Romania

Thursday, November 18, 2021

Austrian investment fund Core Value Capital envisages investing EUR 800 mln in Romanian photovoltaic projects with a total capacity of 1GW over the next seven years. However, in the meantime, it purchased two hectares in southern Bucharest, where it will develop a 550-apartment project, according ...

The independent gas producer Amromco files for insolvency

Thursday, November 18, 2021

Amromco Energy, for a long time the third-largest natural gas producer in Romania in terms of output after Romgaz and OMV Petrom, has officially filed for insolvency after it failed to amend or even suspend contracts signed in advance with its ...

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