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Energy & Environment
Romgaz analyzes potential takeover of Bucharest’s heat supplier
Thursday, August 27, 2020
State-owned Romgaz, one of the two big gas producers in Romania, analyzes the takeover of Electrocentrale Bucuresti, a state-controlled electricity and heat producer that generates the heat and hot water for households in Bucharest. Electrocentrale Bucuresti is under judicial reorganization due to cash flow problems. The reorganization plan drafted by the company’s judicial ...
CE Oltenia will send for approval to Brussels a restructuring plan worth 7 bln. Lei
Thursday, August 27, 2020
Oltenia Energy Complex (CEO) and the Ministry of Economy will send for approval to the European Commission, through the Competition Council, the company’s restructuring plan, which provides for total investments of 7 billion lei in the period 2021-2026, according to a CEO statement. The Oltenia Energy Complex has benefited from a rescue aid worth 1.2 billion lei, and will either repay it within a maximum of six months or, if the company’s ...
Energy suppliers must purchase 3.8 million green certificates for Q 2
Thursday, August 20, 2020
Companies that deal with energy supply must purchase a total of 3.8 million green certificates for quarter 2, 2020, according to a document posted on the ANRE website. Electrica Furnizare must purchase 842,605 green certificates, followed by Enel Energie Muntenia with 423,683 certificates, Enel Energie – 400,736 certificates, E.ON Energie -370,888, CEZ Vanzare -322,176 and Tinmar Energy – 248,609 ...
E.ON Romania developed 74 projects for solar energy production in last two years
Thursday, August 20, 2020
E.ON has developed in Romania, since 2018 to the present day, 74 project for the production of solar energy for customers from different economy sectors, according to a company press release. Of them 29 projects were completed and other 45 projects are in varied development stages. 25,000 photovoltaic panels have already been installed for 58 companies from the most performing industries such as ...
Calik Enerji Turkey is the general contractor for the construction of the Petromidia new cogeneration plant
Thursday, August 20, 2020
The Kazakh-Romanian Energy Investment Fund (FIEKR) signed with Calik Enerji(Turkey) the EPC (Engineering, Procurement and Construction) contract for the turnkey construction of the cogeneration plant on the Petromidia platform. FIEKR is owned by KMG International and the Romanian State through Societatea de Administrare a Participatiilor în Energie - SAPE. The total investment of the fund in this project amounts to about 148 million USD, the ...
Smart gas distribution networks get 235 million euros in European funds
Thursday, August 20, 2020
Mayors should partner locally to receive European funds to develop smart gas distribution networks and projects to serve at least 1,000 households, according to the Ministry of European Funds (MFE)."A new first proposed by the Ministry of European Funds: in order to receive European money, mayors are encouraged to associate locally so that projects serve at least 1,000 households and implementation is completed before December 2023," according to a MFE press ...
Transelectrica's H1 net profit up 282 pct YoY
Thursday, August 20, 2020
National electricity transmission company Transelectrica posted a net profit of 116 million lei in H1, by 282 percent higher compared to the same period of the previous year, the company said in a statement on Monday.Mid-year revenues amounted to 1.09 billion lei, down 8 percent YoY, while expenses stood at 809 million lei, by 19.3 percent lower. EBITDA was 281 million lei, up 55 percent."The positive financial result was obtained as a result of ...
Gov't to launch call for projects to expand natural gas distribution networks
Thursday, August 20, 2020
The government will launch a call for projects for a programme to expand the natural gas distribution networks in areas of Romania that do not have such utilities, Prime Minister Ludovic Orban announced on Friday.He said in Craiova that the budget of the programme is over one billion euros, but in the first stage 234 million euros will be allocated from the national budget."Our goal in the next four years is to expand the main networks as much as ...
Romgaz reports 17.9 pct smaller H1 net profit
Thursday, August 20, 2020
National gas producer Romgaz reported a net profit of 800 million RON in the first half of the year, down 17.9 pct from the same period last year, according to the company's financial report submitted on Friday to media.The company's turnover was 2.193 billion RON, lower by 23.7 pct. "The consolidated turnover decreased by 23.7 pct (681.4 million RON) compared to the first half of 2019, as a result of the decrease in revenues from the sale of natural gas ...
Oil Terminal posts 64 pct higher H1 net profit
Thursday, August 20, 2020
Cargo handling company Oil Terminal made 7.6 million lei in net profit in the first half of this year, up 64 percent from the same period of 2019, shows data referred by the company to the Bucharest Stock Exchange on Thursday.The turnover reached 91.6 million lei, by 12.3 percent more YoY, and 12.2 percent higher than initial estimates."The 12.2 percent increase in turnover compared to the amount set forth in the revenue and expenditure budget approved ...
Romania has, officially, electricity production capacities with a installed power of 20,608 MW
Thursday, August 20, 2020
Romania officially had, on August 14, electricity production capacities with a total installed capacity of 20,608 MW, according to the data of the National Energy Regulatory Authority (ANRE), but the institution is in a process of analysis to determine which of the plants still work. The official statistics were introduced on the ANRE website, which indicate the existence of installed capacities of 20,608 MW in total. Of the ...
BSOG begins installing pipeline to shore up gases from Midia Black Sea perimeter
Thursday, August 20, 2020
The oil company Black Sea Oil & Gas (BSOG), controlled by the American asset management group Carlyle, the only concessionaire of natural gas perimeters in the Black Sea that has so far made the final decision to invest in the Romanian offshore, maintains its goal of starting next year the gas production on the Midia concession, in spite of the problems caused by the COVID-19 pandemic. The project works advance on the premise that the ...
Hidroelectrica’s privatization, blocked until the autumn of 2022
Thursday, August 20, 2020
The President of Romania, Klaus Iohannis, approved on Thursday the law on ”some measures to protect national interests in economic activity,” despite the fact that the Liberals had previously challenged the draft in the Constitutional Court, which, however, rejected their referral. According to the normative act, from the date of entry into force of the law, for a period of two years, the alienation of state participations in national ...
Dacian Petroleum buys 40 perimeters from OMV Petrom for almost USD 18 mln
Thursday, August 20, 2020
Dacian Petroleum will buy 40 OMV Petrom fields located in the south of Romania and with a cumulative oil and gas production of approximately 1,700 barrels equivalent of oil (boe)/ day. The value of the transaction is of $17.8 million for 190 active wells, representing about 1% of OMV Petrom’s production in 2019. The transaction includes the transfer of the wells and the oil infrastructure related to the respective perimeters, as well as of a ...
Pewete chose Romania in order to create a hub of services for Europe
Thursday, August 20, 2020
Pewete Evo Europe SRL appeared on the Romanian well services market in 2018, but the General Manager, George Capatina is far from being a newcomer to this industry. Likewise, the company group of Pewete Evo Europe is a well-known and appreciated player in the Oil & Gas industry, listed on the Frankfurt stock Exchange, with a solid portfolio in Russia, Kazakhstan and Middle East – Petro Welt Technologies AG. Energyeconomics.com discussed with George Capatina about ...
Financial results of Rompetrol Rafinare Semester 1 2020
Thursday, August 20, 2020
Rompetrol Rafinare, a member company of the KMG International Group, recorded declining financial results in the first half of 2020, due to unprecedented volatility in the oil market, but also the impact generated by the influences of COVID-19 on the demand for petroleum products. In the context of the restrictive measures imposed with the onset of the pandemic that led to very low market demand, as well as the prolonged ...
CEZ in talks with best bidder for assets in Romania
Thursday, August 13, 2020
Czech energy group CEZ said on Tuesday that it is holding negotiations with the potential buyer who has submitted the best bid in the process for the sale of the group's assets in Romania. "On June 25, 2020, CEZ Group received binding offers for assets in Romania. Mainly the distribution and sales companies and the Fantanele and Cogealac wind power plants are subjects of the sale," CEZ Group said in a presentation of its first-half financial ...
Romania's electricity consumption down 7.1 pct in H1, exports double
Thursday, August 13, 2020
Romania's electricity consumption in H1 2020 amounted to 25.7 TWh, by 7.1 percent less from the same period of the year before, while imports were twice as high, the National Institute of Statistics (INS) informed today.Electricity consumption in the economy, ie of industrial consumers, registered the steepest decline of 10 percent, while household consumption was by 2 percent higher.The total power output was 11.7 percent down, with the most severe ...
Enel X opens network of car charging stations in Bucharest, surrounding areas
Thursday, August 13, 2020
Enel X Romania, a subsidiary of the Enel Group’s advanced energy services division Enel X, has installed and put in operation a network of 34 charging points for electric vehicles in Bucharest and surrounding areas, the company announced. The installation of Enel X charging points will continue with other units in Bucharest, Timi?oara, Sibiu, and Constan?a. The plan covers all ...
“Donate blood, save a life!” campaign launched by Rompetrol
Thursday, August 13, 2020
KMG International is launching a campaign to support blood donation at the national level, between August 10 and October 10, in partnership with the National Institute of Hematology and Transfusion and the SMURD Foundation. Through its retail division, Rompetrol Downstream, the Group will provide donors, free of charge, with products from its Rompetrol hei fuel distribution network. “The pandemic imposes physical distance on ...