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Energy & Environment
PM Orban: Ungheni - Chisinau gas pipeline is ready
Thursday, August 13, 2020
Prime Minister Ludovic Orban said on Friday that the Ungheni - Chisinau gas pipeline is completed, and once this investment is completed, there is the possibility of supplying natural gas from Romania to the Republic of Moldova."I have good news for you. Even though an extremely important investment for Romania has not been inaugurated, this investment is ready, it is the Ungheni - Chisinau gas pipeline. The investment made by Transgaz is completed and once ...
Nova Power & Gas, part of the E-INFRA Group, develops a natural gas network in Huedin
Thursday, August 13, 2020
Nova Power & Gas, company member of the E-INFRA group, develops the natural gas network in Huedin (Cluj county). The project, worth RON 8.5 million, continues the E-INFRA group strategy to develop Romania’s critical infrastructure, through private investments in essential public utility projects. „Following the inauguration of the distribution network in Moara, Suceava, in June, we have already started a new project for the development ...
Investors in renewable energy warn about side effects of land sale ban in Romania
Thursday, August 13, 2020
The draft law that restricts the sale and use of agricultural land, passed by the Romanian Parliament, will hinder the planned investments in renewable energy projects, the two associations of renewable energy producers, PATRES and RWEA, warned in a letter to president Klaus ...
PM Orban: Jiu Valley must be viewed with realism
Thursday, August 13, 2020
The government is concerned about the problems in the Jiu Valley and is looking to find the best solutions so that the region has a future, said Prime Minister Ludovic Orban. This region was heavily industrialised and the main activity was coal mining, but due to low efficiency, most of the mines were closed down in the years following the collapse ...
ELECTRICA Time of change
Thursday, August 13, 2020
The Electrica Group is going through major transformations, meant to modernize companies, to unify them digitally, to increase efficiency and to optimize costs, for the benefit of shareholders, but especially of final consumers. In addition to the strategic investment programs, Electrica is preparing the merger of the three distribution operators, intends to participate in the acquisition of CEZ assets that fit the group’s core business and diversify its service ...
ENEL X ROMANIA INSTALLED A PHOTOVOLTAIC SYSTEM AT LTA MONDIAL EDIBLE OIL FACTORY
Thursday, August 6, 2020
Enel X Romania, part of Enel X, the advanced energy services division of Enel Group, has installed a photovoltaic panels system on the edible oil factory of LTA Mondial company located in Baia, Tulcea County, which will help the plant to reduce its annual grid energy consumption by almost 8%, as well as to prevent the emissions of about 86 tonnes of greenhouse gases per year, the company informs. The project involved the delivery of a turnkey PV system ...
KMG International (Rompetrol) continues the "Career Ready" internship program
Thursday, August 6, 2020
KMG International (Rompetrol) has launched the 20th edition of the “Career Ready” internship program, aimed at young people who want to pursue a career in the oil and gas industry, the company informs. This year, 55 students and recent graduates were selected to participate in a special edition of the training program. For two months, the youngsters will benefit from the expertise of over 35 mentors, who will use their experience to guide ...
GAZ Romania Trade Unions Federation: BRUA, a project with strategic value for Romania and EU
Thursday, August 6, 2020
The BRUA gas pipeline is a project with strategic value for both Romania and the European Union, say representatives of the GAZ Romania Trade Unions Federation, who totally disapproves of the opinions recently launched in the public space by various people and organizations in reference to its so-called lack of utility."The GAZ Romania Trade Unions Federation, a nationally representative organization that represents the interests of employees in the gas industry - ...
CEZ Group implementing long-term teleworking system in Romania
Thursday, August 6, 2020
The CEZ Group is implementing a long-term teleworking system in Romania as more than half of the employees of CEZ companies in Romania have been teleworking since the beginning of the state of emergency, the company announced on Friday."Since the beginning of the state of emergency, over 50% of the employees of CEZ companies in Romania have carried out their activity remotely. The proven operational efficiency and the safety priority of CEZ employees and ...
Delayed Coking unit efficiency project, implemented by Rompetrol Rafinare
Thursday, August 6, 2020
Rompetrol Rafinare, a member company of KMG International, has completed a new investment project to increase the degree of crude oil processing and optimize operational flows. With a value of over 1.4 million dollars, the project was recently implemented during the general turnaround of the Petromidia refinery and aimed at installing a new light gas oil recovery system at the fractionation column within the Delayed Coking ...
Romanian gas transporter starts testing Iasi-Chisinau pipeline
Thursday, August 6, 2020
Romania's natural gas transport system operator Transgaz started the technical tests on the Iasi - Ungheni - Chisinau gas pipeline that would facilitate the exports of Romanian natural gas to ...
C. Ghita, Nuclearelectrica: Romania needs a coherent and integrated plan of investments in new capacities
Thursday, August 6, 2020
Nuclearelectrica will soon initiate a feasibility study to establish concrete data for the development of new electricity generation capacities and to respond to the National Energy Climate Plan (NECP). No truly robust energy system can really work only on the basis of renewable sources, said Cosmin Ghita, the CEO of ...
H. Adrian (Holcim): Green Deal means huge investment needs for cement plants
Thursday, August 6, 2020
Holcim maintained its activity in Romania with no incidents caused by Covid-19. “During this period, our first concern was the safety of our employees,” said Horia Adrian, CEO of Holcim Romania. In terms of business decisions and short-term economic prospects, they are “under the spell of individual and collective responsibility for adapting to a new normal”. In Romania, just as it is the case at the level of the LafargeHolcim ...
OMV Petrom: Fuel consumption will decrease by 10% this year and will not recover in 2021
Thursday, August 6, 2020
Fuel consumption will fall by 10% this year due to the coronavirus pandemic, and demand will not return to pre-pandemic levels earlier than 2022, said Radu Caprau, OMV Petrom’s Downstream Oil director, said on Wednesday. “In the second quarter, the demand for oil products was strongly affected, which will be reflected in year-on-year decreases, even if we see a recovery trend in this period, better than we initially estimated. We believe ...
PwC: The energy demand shock of 2020 is the largest in the last 70 years
Thursday, August 6, 2020
In recent months, the energy sector has suffered a double shock: due to the COVID-19 pandemic and the disruption of the oil market amid falling demand and surplus supply. According to PwC estimates from the “PwC Power Utilities Future of Industries” report, which is based on data from the International Energy Agency for 2020 (IEA), the 2020 energy demand shock is the largest in 70 years. At the same time, global energy demand is expected to fall by 6% this year, ...
OMV Petrom, net profit drops by 56 pct in first half of the year
Thursday, July 30, 2020
OMV Petrom, the main Romanian oil company, has obtained in the first half of this year a net profit of 867 million RON, by 56 pct less than in the similar period of last year, according to the half-year report sent on Wednesday.Sales income stood at 10.069 billion RON, an 11 pct decrease. The decline of sales comes following the negative evolution of market prices and smaller sales volumes for oil products, the company's representatives ...
OMVPetrom: Black Sea gas can help Romania's economic recovery, yet offshore law delayed
Thursday, July 30, 2020
Black Sea gas can help Romania's post-pandemic economic recovery, but changes to the Offshore Law are delayed, which erodes the economic foundation of this project, said OMV Petrom CEO Christina Verchere in an interview with Agerpres..ExxonMobil and OMV Petrom are equal partners in the Neptun Deep Black Sea offshore project, where a gas deposit evaluated at 42-84 billion cubic meters was found. By comparison, Romania's annual production is 10-11 billion cubic ...
Austria’s OMV wins EUR 59 mln case against Romania in international court
Thursday, July 30, 2020
Austrian’s OMV group, which controls Romanian oil and gas group OMV Petrom, has won a lawsuit against Romania’s Environment Ministry filed at the International Chamber of Commerce in Paris (ICC), according to the group’s quarterly report. The ICC’s Arbitral Tribunal ruled on July 9 that Romania must pay EUR 59 million worth of compensation plus related interest (unspecified amount) to OMV Petrom. The sum represents the value of ...
Gov't to approve this week 1 bln euros for expansion of Romania's gas networks
Thursday, July 30, 2020
The government will approve this week a 1 billion euro allocation for the expansion of Romania's gas networks, Deputy Prime Minister Raluca Turcan announced on Tuesday. According to the cited official, Romania's current gas connection rate is 32 percent of localities connected, and the central authorities want to raise it to 70 percent."The Orban Government will approve this week one billion euros to increase Romania's mains gas connectivity from the almost ...
Grampet group company buys over industrial platform of RAFO Onesti refinery
Thursday, July 30, 2020
The Roserv Oil company, part of the Grampet group, has acquired the industrial platform of the RAFO Onesti refinery as part of a public tender coordinated by CITR, according to a press statement of the insolvency firm released on Monday.The sale of the asset was completed according to a capitalisation strategy approved by the creditors to RAFO Onesti as part of the insolvency procedure, with the aim of developing the largest logistics centre in ...