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Energy & Environment
Enel Romania pays EUR 625 mln dividends
Thursday, March 5, 2020
The three regional electricity distribution companies controlled by Italian utilities group Enel in Romania decided to distribute nearly RON 3 bln (EUR 625 mln) as extraordinary dividends, out of which the Romanian state and investment fund Fondul Proprietatea will receive over EUR 100 mln ...
ELCEN’s assets could be sold to any private investor
Thursday, March 5, 2020
Sierra Quadrant, the judicial administrator of ELCEN, registered with the Bucharest Court the modified plan for the reorganization of ELCEN, which will be submitted to the vote of the Creditors’ Assembly within 20 days from the publication in the Insolvency Procedures Bulletin of the announcement. ”The most important change provides for a period of six months from the confirmation of the plan by the Syndic Judge in which the Romanian state ...
ANRE Project: Gas producers must sell on the stock exchange 30% of annual output
Thursday, March 5, 2020
The National Energy Regulatory Authority (ANRE) has launched in public debate a project that provides that gas producers must sell on the stock exchange an annual quota of 30% of output, between July 1, 2020 and December 31, 2023. ANRE argues that the reason is the low liquidity of the gas market in Romania. “The draft normative act is proposed in the context in which the natural gas market in Romania has a low liquidity, the measure wishing to ...
The deposit system, the only chance for Romania; the problem of recycling is the collection
Thursday, March 5, 2020
The storage system is the only chance at the moment to increase the amount of waste collected and thus to reduce the amount of waste that reaches the landfill, said Denise Deleanu, Chief Operating Officer of Reciclad’OR, at the Circular 7 conference, organized by Green Report. “We believe that the deposit system is the only chance at the moment to increase the amount of waste collected and automatically reduce the amount of waste that ...
Transgaz signed with EBRD a memorandum regarding the cooperation and support of investments in the energy sector
Thursday, March 5, 2020
The national gas transporter Transgaz and the European Bank for Reconstruction and Development (EBRD) signed the Memorandum for Agreement regarding the cooperation and support of investments in the energy sector in Romania. Transgaz has a Development Plan for ten years where the FID projects (Final Investment Decision) and A-FID (Advace Final investment Decision) are worth 1.25billion euro. On the part of Transgaz, the ...
ANRM could bid only the onshore oil areas in the Round IX of concessions
Thursday, March 5, 2020
The National Agency for Mineral Resources (ANRM) could bid only the 22 onshore oil areas in the IX round of concessions, as in the case of the six offshore areas there is still judicial uncertainty, according to some sources in the agency. In July 2019, ANRM announced that they offer through public appeal the concession of the operations for exploration, development and oil exploitation of 28 areas (22 onshore and 6 offshore) in the XI round of bids, ...
Nuclearelectrica obtained in tribunal the suspension of an ANRE order regarding the energy quantities at regulated prices
Thursday, March 5, 2020
Nuclearelectrica obtained in tribunal the suspension of an ANRE order through which it has presented the Methodology for the establishment of prices and electricity quantities which energy producers can sell on the regulated market this year,sources in the domain said. More exactly, it is about the ANRE order 216/2019 for the approval of the Methodology for the establishment of prices for electricity sold by producers on the basis of the regulated ...
The minister of economy: the offshore law may be amended only in the parliament
Thursday, February 27, 2020
The acting minister of economy, energy and business environment Virgil Popescu stated on Monday that gas in the Black Sea represents a country topic which should get political consensus and the Offshore law which rose many discussions may be amended only in the parliament. Present at the forum ‘ The geo-strategic and economic importance of the Black Sea in the present European context’ the minister brought into discussion the European ...
State aid: Commission approves €251 million Romanian rescue aid to CE Oltenia
Thursday, February 27, 2020
The European Commission has approved, under EU State aid rules, Romanian plans to grant a €251 million temporary loan to Romanian state-owned lignite-based electricity producer Complexul Energetic Oltenia (“CE Oltenia”), which is currently experiencing financial difficulties. CE Oltenia has 3.2 gigawatt of capacity and generates close to 25% of electricity in Romania. ...
Energy Minister: Romania needs Black Sea gas to comply with Green Deal
Thursday, February 27, 2020
Romania needs the Black Sea gas resources in order to accomplish the ambitious carbon dioxide emission cuts undertaken through the Green Deal, Minister of Economy, Energy and Business Virgil Popescu told a specialist conference on Monday."The European Green Deal is the hot topic of this year. Under the Green Deal, the European Union aims to reduce carbon dioxide emissions by 55 percent until 2030, a high ambition Romania has acquiesced to and I think that we can ...
Nuclearelectrica posts profit increasing by 31.7 pct last year
Thursday, February 27, 2020
The National Company Nuclearelectrica SA (SNN) posted a net profit of 541 million lei at the end of last year, an increase by 31.7 pct compared to 2018, according to the Preliminary Unaudited Individual Financial Statements sent by the company to the Bucharest Stock Exchange (BVB).The company's total revenues last year rose to 2.378 billion lei, of which 2.365 billion lei were revenues from the sale of electricity and 12.208 million lei came from electricity ...
Romgaz 2019 net profit up 4.55 pct to 1.43 bln lei
Thursday, February 27, 2020
The National Natural Gas Corporation Romgaz reported a 4.55 pct growth in the 2019 preliminary net profit to 1.43 billion lei, and a turnover of 5.08 billion lei, 1.52 percent higher from the year before, shows the annual preliminary consolidated report released by the company.The turnover increase is the effect of several elements that include the 4.4 percent rise in revenues from the sale of natural gas from the company's own production as well as from the ...
ENEL X TEAMS UP WITH THE EUROPEAN COMMISSION AND EIB FOR THE E-MOBILITY REVOLUTION
Thursday, February 27, 2020
The AMBRA-Electrify Europe project reached full financial close through the co-financing provided by Enel X, the European Commission through its Innovation and Networks Executive Agency (INEA) and the European Investment Bank (EIB) The project, which will be completed by 2022, envisages a total investment of 70.75 million euros and will involve the construction of more than 3,000 charging ...
Rompetrol Rafinare invests 4.6mln dollars in modern system for recovering liquefied petroleum gas
Thursday, February 27, 2020
Rompetrol Rafinare has successfully implemented a modern system for recovering liquefied petroleum gas, following an investment of 4.6 million dollars, the company informs. The project ensures an improvement in the production flow and a substantial reduction in the sulfur dioxide emissions."It is a unique project at the level of Romania and it is part of the Group's strategy of continuous modernization of the operational processes at the level of the production ...
State aid: Romania to recover around €13 million from the National Uranium Company
Thursday, February 27, 2020
The European Commission has found that various Romanian public support measures in favour of the Compania Na?ional? a Uraniului SA ('CNU', the National Uranium Company) are not in line with EU rules on State aid to companies in difficulty. As a result, Romania cannot implement the support measures envisaged in the restructuring plan. It must also recover €13 million of incompatible rescue aid that CNU received in 2016, plus interest. Executive ...
Geotech Investigation in Offshore Midia Gas Development Project
Thursday, February 27, 2020
The Ministry of Economy, Energy and Business Environment (MEEMA) issued a permit on last Friday allowing the offshore geotech drilling on the subsea segment of the future upstream gas pipeline linking the Ana Platform to the shore and to a new onshore gas treatment plant ('GTP') in the Vadu area of Constanta County, according to a release of the institution."The Ministry of Economy, Energy and Business Environment supports the start of the offshore gas ...
IAEA reviews recent developments in Unit 1 of Cernavoda n-power plant refurbishment
Thursday, February 27, 2020
An International Atomic Energy Agency (IAEA) team of experts has completed a review of long term operational safety at the Cernavoda Nuclear Power Plant (NPP) in Romania.The Pre-SALTO (Safety Aspects of Long Term Operation) review mission was requested by the plant's operator, Societatea Nationala Nuclearelectrica SA.According to a press statement released on Friday by Nuclearelectrica, the mission is part of the support provided by IAEA for the ...
Lower transmission tariffs drag down Transgaz 2019 profit
Thursday, February 27, 2020
Romanian gas transmission company Transgaz [BSE:TGN] said on Thursday that its net profit fell by 29% on the year to 349.4 million lei ($79 million/73 million euro) in 2019, due to a drop in transmission tariffs. Operating revenue before balancing and construction activity edged down by an annual 2% to 1.57 billion lei, mainly influenced by lower commodity transmission tariffs, Transgaz said in its 2019 provisional report ...
MEP Basescu: European Green Deal risks pushing ‘two or three countries’ towards EU exit
Thursday, February 27, 2020
The European Green Deal “will definitely create tensions” inside the EU, and risks pushing “two or three countries” to leave the Union altogether, warns former Romanian President Traian Basescu, saying the real priority in Romania is to build new infrastructure like motorways and exploit natural gas resources from the Black Sea. Traian Basescu served for ten years as President of Romania and represented his ...
EurActiv:Romania must not squander EU Green Deal opportunity
Thursday, February 27, 2020
Positioning the country against the EU Green Deal, Romanian politicians appear to be on the wrong side of history and disconnected from the economic reality of energy markets, writes Suzana Carp for euractiv.com. Suzana Carp is Brussels Office Lead at Sandbag, an environmental NGO. Last week’s negotiations on the EU budget for 2021-2027 had everyone on their tip-toes: will the block be able to fill the Brexit gap ...