RSS
Energy & Environment
Romania's crude oil production down 3.4pct in Q1 2024, imports drop 15.1pct
Thursday, May 23, 2024
In the first quarter of 2024, Romania produced 682,400 tonnes of oil equivalent (toe) of oil, 23,900 toe less (-3.4%) than in the same period of the previous year, according to data centralised by the National Institute of Statistics (INS).Imports of crude oil exceeded 1.773 million toe in the period, 315,700 toe less than in January-March 2023 (-15.1%).According to the latest Energy Balance Forecast, published by the National Commission for Strategy and ...
OMV Petrom invests 23 million EUR in largest crude oil storage tank in Romania, at Petrobrazi refinery
Thursday, May 23, 2024
OMV Petrom has commissioned the largest crude oil tank in Romania at the Petrobrazi refinery, after an investment of more than 23 million EUR commissions, according to a company press release ."The construction of the new oil tank is a new important project successfully completed on the Petrobrazi platform, together with the installation of new coking chambers and other modernisation projects. All these investments strengthen our capacity to ensure a good and safe operation ...
Electrica signs Memorandum of Understanding with Esyasoft Holding Ltd.
Thursday, May 23, 2024
Electrica has signed a Memorandum of Understanding with Esyasoft Holding Ltd., a subsidiary of the International Holding Company (IHC), Abu Dhabi, United Arab Emirates (UAE), informs the company through a press release sent to the Bucharest Stock Exchange. "Electrica informs investors that it signed today, May 16, 2024, in the presence of the prime minister of Romania, a Memorandum of Understanding with Esyasoft Holding Ltd., regarding the collaboration ...
Romania's electricity distribution operator invests 70.3 M RON in Q1
Thursday, May 23, 2024
Romania's electricity distribution operator Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, made investments of 70.3 million RON in the first quarter of the year, representing 102.1% of the estimated value, according to the financial results communicated by the Electrica Group.According to Mihaela Suciu, general director of DEER, the increase in security and the acceleration of the digitalization process of the distribution ...
Romgaz has new branch in Republic of Moldova - Chisinau branch for natural gas supply
Thursday, May 23, 2024
The Romgaz branch in Chisinau was registered on Thursday with the Public Services Agency of the Republic of Moldova, in the State Register of Legal Entities, the company informs through a release ."The process of registering the Romgaz Branch in Chisinau falls within the scope of the company's actions in order to expand its gas supply activity at the regional level, an objective foreseen in the company's strategy for the period 2021 - 2030. Romgaz wants to contribute to ...
Coal production drops 11.6pct in Q1 2024; imports up 35.8pct
Thursday, May 23, 2024
Romania's net coal production totaled, in the first three months of this year, 511,600 tonnes of oil equivalent, by 11.6% lower (minus 66,900 toe) compared to the same period in 2023, according to data centralized by the National Institute of Statistics (INS).Net coal imports reached, in the mentioned period, 52,000 toe, higher by 13,700 toe (plus 35.8pct) compared to January-March 2023.In the last forecast of the energy balance, the National Strategy and ...
Minister Burduja: New contracts and calls through the Modernization Fund, storage gets top priority
Thursday, May 23, 2024
The Ministry of Energy is preparing the launch of the call for the cogeneration of electricity and heat (CHP) from the Modernization Fund, for which at least two CETs from Bucharest, Grozavesti and Progresu, will be eligible, announced the Minister of Energy, Sebastian Burduja, at an event Specialized. “I can’t resist talking to you about Bucharest, because, unfortunately, the ELCEN situation is critical and I would be happy to discuss it ...
Reuters: Hungary to sign deal to allow gas imports from Romania -PM Orban
Thursday, May 23, 2024
Hungary will soon sign a deal which will allow the imports of 4 billion cubic meters of natural gas from Romania annually over the next 15 years, Prime Minister Viktor Orban said on Friday quoted by Reuters. Orban told a news conference that three Hungarian companies had won a tender in Romania for the gas. He did not name the companies. "Within moments we will sign an agreement, which will allow for the next 15 ...
Transgaz posts RON 241.94 ml in Q1 net profit
Thursday, May 16, 2024
National gas transmission operator Transgaz posted a net profit of RON 241.94 million for Q1 2024, up 93 percent year-over-year, show the Quarterly Financial Results as of March 31, 2024 submitted to the Bucharest Stock Exchange on Wednesday.Across the group, which includes Eurotransgaz SRL in the Republic of Moldova, and its subsidiary Vestmoldtransgaz SRL, the Q1 net profit was RON 262.86 million, up 113 percent compared to the first quarter of last ...
Q1 energy production down 2.4 pct, consumption inches up 1.4 pct
Thursday, May 16, 2024
Romania's electricity production was 2.4 percent down in Q1 2024 from the same period in 2023, while household power consumption was 0.1 percent up year-over-year, shows data released on Wednesday by the National Institute of Statistics (INS).In the reporting period, primary energy resources decreased 2.4 percent from the year-ago period, and electricity resources increased 1.3 percent.The main primary energy resources totaled 7.715 million tons of oil ...
Romgaz records net profit of RON 1.24 billion in Q1 2024
Thursday, May 16, 2024
Romgaz Group recorded a consolidated net profit of RON 1.24 billion in Q1 2024, 28% higher than in the same period last year, according to data sent by the Bucharest Stock Exchange (BVB).According to the source, Romgaz reported a turnover of RON 2.27 billion, down 21.86% compared to the same period in 2023, as a result of a 6.68% decrease in gas volumes delivered, an 18.33% decrease in electricity production and a 9.1% reduction in revenues from warehousing and ...
ACUE: Investment need in distribution networks is worth 15.6 bln. euro for the period 2020-2030
Thursday, May 16, 2024
The investment requirement in distribution networks is 15.6 billion euro for the period 2020-2030, of which about 9 billion euro must be attracted in addition to what the distribution operators have already planned from their own funds and from the European funds attracted for the period next, said Cristina Paun, deputy director of the Federation of Associations of Energy Utility Companies (ACUE). “The objectives of the PNIESC (Integrated ...
Photon Energy Group secures EUR 15 ml EBRD loan to finance solar PV power plants in Romania
Thursday, May 16, 2024
Dutch renewable energy developer Photon Energy N.V. announced on Tuesday the signing of a senior secured loan agreement of up to EUR 15 million with the European Bank for Reconstruction and Development (EBRD) intended to finance the construction and completion of six solar PV power plants in Romania, with a combined capacity of 29 MWp."Our decision to commit to the construction of additional PV power plants with a total capacity of 29 MWp and sell electricity into the ...
Black Sea offshore natural gas bolsters EU energy security
Thursday, May 16, 2024
The Neptun Deep project to produce natural gas offshore at the Black Sea is the key to reducing dependence on gas imports and strengthening the EU’s energy securit, https://www.politico.eu/reads. In an era when ...
Oil Terminal closes Q1 2024 with RON 28.4 million in net profit
Thursday, May 16, 2024
Oil Terminal obtained, in the first quarter of 2024, a net profit of RON 28.43 million, 21.5% higher than in the same period last year, according to financial data sent on Monday to the Bucharest Stock Exchange.The gross profit amounted to RON 33.2 million, higher by RON 26.9 million compared to the budgeted level for this period because the physical program approved for the first 3 months of the year was exceeded by 23.7%, which generated an increase in revenues. Total ...
Rompetrol Completes Petromidia Refinery Overhaul
Thursday, May 16, 2024
Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), has started the processes of restarting the production facilities in the Petromidia Navodari refinery, after the scheduled completion of the maintenance, recertification and modernization works of the units. Petromidia is the largest refinery in Romania, and the works totaled 85 million dollars. The maintenance works started on March ...
EC Drops Probe On Romanian Solar Park Tender, After Chinese Companies Withdraw
Thursday, May 16, 2024
The European Commission will close the investigation regarding the offers of some Chinese companies in a tender regarding the construction of a photovoltaic park in Romania. The auction was halted because Chinese firms withdrew from the bidding, Bloomberg reports . In early April, the European Commission initiated two thorough investigations into a public tender held in Romania by Parc Fotovoltaic Rovinari Est SA. The ...
Saint-Gobain Romania and OMV Petrom sign agreement for green energy supply
Thursday, May 16, 2024
OMV Petrom will deliver about 800 GWh of renewable energy to all 14 industrial sites of Saint-Gobain Romania over the next five years, following the signing of an agreement to supply electricity from renewable sources to all the company's facilities nationwide, according to a press release sent on Friday.According to the cited source, deliveries will start in January 2026 and energy will be obtained from wind and photovoltaic sources."Through the ...
Rompetrol Rafinare's results in the first quarter of the year, influenced by market volatility and the turnaround of the Petromidia refinery
Thursday, May 16, 2024
Rompetrol Rafinare, member company of the KMG International Group (Rompetrol), recorded in the first quarter of 2024 a gross turnover of about 1.1 billion USD, down 15% compared to the same period last year. At the same time, the operational profit (EBITDA) recorded by the company was 33.2 million dollars, the net result having a negative value of 23.8 million dollars. The operational and financial results were influenced by the ...
President Iohannis promulgates law on offshore wind energy
Thursday, May 9, 2024
President Klaus Iohannis promulgated the Law on offshore wind energy. The law regulates the general framework necessary for the implementation in Romania of electricity production projects from offshore wind resources."The implementation of electricity generation projects from offshore wind resources shall be carried out in compliance with the principle of non-discrimination, in conditions of fair competition, and in compliance with the principle of ...