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Energy & Environment

The ministry of energy: there are companies interested to get into offshore exploitation of gas

Thursday, November 26, 2020

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Dan Dragan, state secretary in the ministry of energy says that there are important companies who want to get on the market of offshore gas extraction in Romania‘The ministry of economy announced that they prepare an amendment of the offshore legislation which they intend to place under public debate and send it to the new parliament as soon as possible. The purpose is to eliminate as many barriers as possible and free important investments for the Black Sea ...

OMV Petrom: Black Sea could turn Romania into EU's largest gas producer

Thursday, November 26, 2020

Romania could become the EU's largest gas producer once the exploitation of Black Sea gas deposits begins, Franck Neel, member of OMV Petrom's Executive Board, told an online conference on Wednesday.We started with the liberalization of the natural gas market as of July 1, 2020. It was a good initiative to get in line with the European Union, and an important step, because there has been much debate about how prepared the market is and for finding solutions ...

Romgaz to double turnover in seven years by burning more gas

Thursday, November 26, 2020

The strategy of the Romanian state-owned gas and power group Romgaz includes the development of gas-to-power installations with a combined capacity of 1,500-2,000 MW.   The investment might double the group's turnover, but this would require external natural gas resources, said the general manager of Romgaz, Adrian Volintiru, at the Romanian International Gas Conference (RIGC), an online event organized ...

Transgaz criticizes Bulgaria for not completing gas interconnector with Greece

Thursday, November 26, 2020

Ion Sterian, the CEO of Romanian natural gas transport system operator Transgaz, which recently announced it completed its BRUA section (not including the extension to the Black Sea), expressed disappointment with the sluggish completion, on the Bulgarian side, of the interconnector with Greece (ICGB).   "ICGB, a 182 km gas pipeline with a value of about EUR 220 million, included in the European ...

Energy Ministry: Phase I of BRUA project has been completed

Thursday, November 26, 2020

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Phase I of the BRUA project has been completed, both the pipeline and the compression stations, which will lead to the diversification of Romania's gas supply sources, Dan Dragan, Secretary of State in the Ministry of Economy, Energy and Business Environment, told Monday's online event "The Romanian International Gas Conference.""The BRUA phase I project is completed, both the pipeline and the compression stations. BRUA will lead to the diversification of supply ...

Romania's end electricity consumption last year was 45,573 GWh

Thursday, November 26, 2020

The country's end electricity consumption last year was 45,573 GWh, by only 7 GWh higher than the previous year, according to the National Institute of Statistics (INS).Consumption in industry was 21,949 GWh, down 1.2%. In transport, the value of the indicator was by 0.4% higher, to 1,060 GWh, while public lighting increased by 10.7% to 578 GWh.At the same time, the population's consumption was higher by 1.6%, reaching 12,984 GWh last ...

Romania to start construction on units 3, 4 of Cernavoda n-power plant

Thursday, November 26, 2020

Prime Minister Ludovic Orban said on Friday, on a visit to Suceava County, that Romania will start construction on units 3 and 4 of the Cernavoda Nuclear Power Plant after an intergovernmental agreement between the United States of America (USA) and Romania in the field of civil nuclear co-operation received the approval of the European Commission.According to him, the construction of the units will be conducted with strategic partners from the US and ...

Govt. approves another EUR 1 bln state aid for CE Oltenia

Thursday, November 26, 2020

Government signed the memorandum for the restructuring of state-owned coal and power group CE Oltenia (CEO) under a five-year program that involves some EUR 2 billion of aid from both state and the European Union's decarbonization program. The memorandum involves EUR 1.33 bln of state aid, out of which more than EUR 250 mln was already extended as a rescue loan that the company could not ...

Romgaz negotiates the acquisition of the whole package for which ExxonMobil owns in the Black Sea

Thursday, November 19, 2020

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Romgaz, one of the two big gas producers in Romania, negotiates to take over the shares owned by the American giant ExxonMobil with the gas project Neptun Deep in the Black Sea, and the minister of economy, energy and business environment Virgil Popescu stated on Wednesday, in  a press conference, that the gas producer is creditworthy enough to get that acquisition.   ‘ At present, Romgaz is negotiating the ...

The gas in the Black Sea, energetic efficiency and the nuclear programme should be the priorities of Romania

Thursday, November 19, 2020

The exploitation of gas in the Black Sea, the growth of energetic efficiency and the continuation of the nuclear programme of the country are among the priorities which should be found in the governing programmes of the political parties for the next years, consider most experts in the energy sector, who took part in the debate ‘The energy in the elections’ which happened on Wednesday.Organised by Asociatia Energia Inteligenta (Smart Energy ...

The additional tax on Black Sea gas will be relaxed in the new offshore law

Thursday, November 19, 2020

The new offshore law will keep the windfall tax but increase the threshold over which this tax will apply, announced Niculae Havrilet, a state secretary in the Ministry of Economy and Energy, according ...

OMV Petrom invests 21 ml euros to increase Petrobrazi refinery's biofuel blending capacity

Thursday, November 19, 2020

OMV Petrom has increased the annual biofuel blending capacity of its Petrobrazi-based refinery from 200 kilotons to about 350 kilotons, on an investment of approximately 21 million euros, so as to supply fuels with increased levels of bio-components into finished products, the company said in a release on Wednesday.The use of fuels with an increased level of bio components contributes to achieving the EU's greenhouse gas reduction ...

EC evaluates EUR 2 bln restructuring strategy at RO coal and power group

Thursday, November 19, 2020

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One of Romania's biggest energy producers, the coal and power group CE Oltenia (CEO), enters the final stage of the evaluation process of the Restructuring and Decarbonization Plan as it will notify the European Commission (EC). According to the company's management, the EC expressed surprise with the lack of multi-annual contracts, a legislative barrier that Romania is expected to remove early next ...

Gross turnover of Rompetrol Rafinare drops 35 pct in first 9 months

Thursday, November 19, 2020

Rompetrol Rafinare, a member company of KMG International, recorded in the first 9 months of 2019 a gross turnover of 2.5 billion dollars, a drop by 35.8 pct compared to a result of 3.9 billion dollars in the same period of last year, informs the company in a release sent on last Friday.Net losses clocked in at 156.1 million dollars, an increase of 480 pct over the losses of 26.9 million dollars recorded in the similar period of 2019.These descending ...

Electricity consumption in Romania declines 5.1pct, Jan.-Sept. 2020

Thursday, November 19, 2020

Romania's final electricity consumption reached 39.3 TWh in the first nine months of 2020, down 5.1% from the same period last year, according to a press statement released by the National Institute of Statistics (INS) on Friday.Public lighting decreased by 8.1%, and household consumption increased by 3.6%.Electricity exports were 3.673 billion kWh, up 1.095 billion kWh.Own technological consumption in networks and stations was 3.8 billion ...

Romgaz and Petrom want to produce hydrogen in a wind farm in Dobrogea

Thursday, November 19, 2020

Romgaz and OMV Petrom, the biggest local energy company, could partner to develop a hydrogen production facility near a wind farm in Dobrogea, according to Niculae Havrilet, a state secretary in the Ministry of Economy and Energy. The plant would use electricity to produce hydrogen through hydrolysis - to be later used in automobiles and energy generation applications. It would be the first such project in ...

Nuclearelectrica posts 15% higher profit in first nine months

Thursday, November 19, 2020

Nuclearelectrica, which operates Romania’s Cernavoda nuclear power plant, announced a net profit of RON 477 mln (EUR 98 mln) in the first nine months of this year, up 14.8% compared to the same period of 2019.   The company’s operating income declined by 1.8% year-on-year, to RON 1.78 bln (EUR 366 mln), as a slightly lower sale price on the competitive market compared to the same period of 2019 counterbalanced ...

Transgaz has investment projects worth 1.1 billion euros this year

Thursday, November 19, 2020

Transgaz has 1.1 billion euros worth of investment projects this year, aimed at achieving goals not only of national interest, but also goals that benefit the European Union, Prime Minister Ludovic Orban said on Thursday after visiting the Transgaz National Society.He welcomed the completion of a "soul project", the Ungheni - Chisinau gas pipeline, which "will allow the citizens of the Republic of Moldova to benefit from the Romanian gas".The ...

EBRD: How the Platform on Sustainable Finance will help define our green future

Thursday, November 19, 2020

With an ever more ambitious global green agenda coming into focus, states, markets, blocs and businesses are working to go carbon-neutral in time to keep world temperature rises from exceeding 2C and, preferably, the more ambitious target of 1.5C.   But, to achieve their goals, those taking action in so many different fields – who each started by developing their own bespoke vocabulary to describe ...

Deloitte Romania advised CEZ Group in the sale of seven of its Romanian subsidiaries

Thursday, November 19, 2020

Deloitte Romania advised the Czech energy group CEZ in the sale of seven of its Romanian subsidiaries, active in ...

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