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Energy & Environment
Romania needs improved, predictable energy legislation in order to attract investors
Thursday, February 16, 2023
In order to attract investors Romania must improve its energy legislation which should no longer be subjected to frequent changes, Adrian Borotea, vice-president of the Romanian Wind Energy Association (RWEA) on Tuesday told the online debate "Wind energy, part of Romania's clean energy mix" organized by the Smart Energy Association.Borotea emphasized that last year at least seven legislative changes were operated in the area of energy overall and as regards renewable energy in ...
Romania's final energy consumption down 7.2pct in 2022
Thursday, February 16, 2023
Romania's primary energy resources decreased by 0.6pct in 2022 compared to last year and the final energy consumption was lower by 7.2pct, according to the data published by the National institute of Statistics (INS) on Tuesday.In the analyzed interval, the main primary energy resources totalized 33.492 million tone of oil equivalent (toe), down by 190,500 toe.Moreover, the domestic production was 17.817 million toe, decreasing by 467,200 toe (-2.6pct) YoY, and the ...
Italy's Enel expects to sell Romania business before end-June, its CEO says
Thursday, February 16, 2023
A sale of Enel's Romanian assets is moving "in the right direction" and it expects a deal before the end of June, the chief executive of the Italian power utility said on Tuesday, Reuters informs. The sale of the business in Romania is part of Enel's strategy to reduce net debt to 51-52 billion euros ($55 billion to $56 billion) at the end of this year from a peak of nearly 70 billion euros reached at the end of ...
The price of carbon certificates will continue to influence the price of electricity in 2023
Thursday, February 16, 2023
The prices of carbon certificates are kept high by the intervention of financial funds in this market. At the same time, as the main beneficiary, the state has no interest in reducing the prices of emission certificates. In this context, the high quotation of certificates, which directly influences the price of electricity, will continue to exert the same influence during 2023 as well. “The price of carbon certificates will keep increasing and will have a ...
Elcen is out of insolvency
Thursday, February 9, 2023
The Bucharest Tribunal decided to close the insolvency procedure and the reintroduction of Electrocentrale Bucuresti (Elcen) in the economic circuit, the company says.The request through which Electrocentrale Bucuresti SA asked for the opening of insolvency proceedings was admitted on 6th October 2016, at the Tribunal Bucuresti.The ...
Electrica acquired the company which develops the photovoltaic project Vulturu in Vrancea, of 9.75 MW
Thursday, February 9, 2023
The energy supplier and distributor Electrica announced that they finalized the acquisition of the project company Green Energy Consultancy&Investments owned by Vlad-Mihai Ungureanu and Tudor-Nicolae Ungureanu and which develops the photovoltaic project Vulturu, Vrancea county with an installed capacity of 9.75 MW (net evacuable power). The project is at the stage of ...
The Petromidia refinery has returned to optimal operational capacity
Thursday, February 9, 2023
The Petromidia Navodari refinery has returned to optimal operational capacity, following the successful completion of the programmed technological operations carried out by Rompetrol Rafinare, member company of the KMG International Group (Rompetrol). "The completion of the works allows us to ensure an optimal degree of utilization of the refining capacity for the rest of the year, in support of the ...
Romgaz -Socar Trading signed new individual contract for delivery of natural gas to Romania
Thursday, February 9, 2023
Romgaz National Gas Company (SNGN) and Socar Trading, a subsidiary of the national oil company of the Republic of Azerbaijan signed on Friday in Baku a new individual contract for the delivery of Azerbaijani natural gas to Romania."In order to ensure our country's consumption need, today, I have participated in the signing ceremony of a new individual contract for the delivery of Azerbaijani natural gas to Romania, between the SNGN Romgaz SA and Socar ...
Transelectrica to build its own security operations centre on USD 2.7m investment
Thursday, February 9, 2023
Transelectrica is laying the foundations for the development of its own security operational centre on US investment totalling 2.7 million US dollars, the company informed on Friday.According to a press release, the national electricity transmission corporation signed a grant agreement worth about 1.1 million US dollars with the US government represented by the United States Trade and Development Agency (USTDA) for the establishment of a security operations ...
OMV Petrom's 2022 contribution to state budget in direct and indirect taxes, by 7 bln RON higher
Thursday, February 9, 2023
The contribution of energy company OMV Petrom to Romania's state budget increased last year by 7 billion RON from 12 billion RON in 2021 to over 19 billion RON, while the industry-specific tax topped 7.3 billion RON, shows data presented on Thursday in a press conference by the company's CFO Alina Popa."In 2022 we had record contributions to Romania's state budget, in amount of 20 billion RON, while our net profit stood at 10 billion RON. Direct taxes and ...
OMV Petrom’s Cristina Verchere: We are closer than ever to the start of Neptun Deep project
Thursday, February 9, 2023
The final investment decision regarding the Neptun Deep project will be made in the middle of 2023 and we are closer than ever to the start of this project, said, on Thursday, in a press conference, the managing director of OMV Petrom, Cristina Verchere."Romania has been producing oil and gas from onshore lands for over 150 years, and the decline (of production, ed. n.) can no longer be compensated by onshore deposits. Therefore, the Black Sea is the answer for ...
OMV Petrom ends 2022 with 10.3 B RON in profit
Thursday, February 9, 2023
In 2022, the OMV Petrom Group recorded a net profit of 10.3 billion lei, 260% higher compared to the previous year, according to the unaudited financial results submitted to the Bucharest Stock Exchange on Thursday."The year 2022 was an unprecedented year for the energy industry, with energy supply difficulties, record international prices and fiscal volatility. Our results reflect this market environment and operational performance: diversification of energy ...
Razvan Popescu (Romgaz): I don’t see any long term problem in financing the Neptun Deep project
Thursday, February 2, 2023
Romgaz will need a mix of financing for the Neptun Deep project, but this must be chosen with much care and it will not be a long term problem due the dominant position of the company on the Romanian market, stated the Romgaz general manager, Razvan Popescu at a conference regarding the market for mergers and acquisitions.He said that at present, Romgaz and OMV Petrom estimate, in total, ...
Arctech Empowers Romania Solar Development With 91.55 MW SkySmart II Tracking Solution
Thursday, February 2, 2023
Arctech, the world’s leading tracking, racking, and BIPV solutions provider announced it has inked a deal to supply a 91.55 MW SkySmart II solar tracking solution in Romania, marking its another milestone in the European market, https://solarquarter.com/ ...
Eleven companies interested in buying first new Black Sea offshore gas exploitation
Thursday, February 2, 2023
There is high interest in the first new Black Sea offshore gas exploitation, by which the American company Carlyle, the biggest private equity stock administrator in the world and EBRD, stock holders of Black Sea Oil & Gas (BSOG) have in view the association with a third party or even sales Proft.ro writes. Profit.ro announced in November, that Carlyle investment fund and EBRD had requested Romanian ...
Energy regulatory authorities in Romania and Moldova sign action plan for 2023
Thursday, February 2, 2023
An official delegation of the National Energy Regulatory Authority (ANRE), led by the chairman of the institution, Dumitru Chirita, paid a working visit to the National Agency for Energy Regulation of the Republic of Moldova in Chisinau, between January 26-28, 2023, on which occasion Dumitru Chirita and his Moldovan counterpart Veaceslav Untila, general director, signed the Action Plan for the year 2023 between the two institutions in accordance with the Cooperation and ...
Energy regulator approves payment of 10.8 billion RON to energy suppliers
Thursday, February 2, 2023
The National Energy Regulatory Authority (ANRE) verified and sent for settlement from the state budget, for energy suppliers, according to the government emergency ordinances 118/2021 and 27/2022, an amount of over 10.8 billion RON, ANRE informs in a statement.Thus, regarding OUG 118/2021 (November 2021 - March 2022), 80 companies submitted 345 applications, of which 288 were approved, 55 being considered ineligible. The amount sent to the Ministry of Energy ...
The planned budget for photovoltaic panels, 3 billion RON, will be able to finance 150,000 projects
Thursday, February 2, 2023
The minister of the Environment, Barna Tanczos, said that the planned budget for photovoltaic panels in 2023 is three billion RON, money with which more than 150,000 projects can be financed.According to Barna Tanczos, in Romania there are over three million houses registered at the Cadastre ...
Transelectrica, Rep. of Moldova officials discuss OPCOM expansion
Thursday, February 2, 2023
Representatives of National Power Grid Company Transelectrica and Republic of Moldova officials discussed on January 26 in Bucharest the expansion of Romania's electricity and gas market operator OPCOM to the Moldovan electricity market, Transelectrica informs.The official delegation from the Republic of Moldova, headed by Deputy Prime Minister and Minister of Infrastructure and Regional Development Andrei Spinu visited the energy company to discuss ...
The Chairman of the Management Board of KazMunayGas, visit to Petromidia industrial platform
Thursday, February 2, 2023
The Chairman of the Management Board of KazMunayGas (KMG), Magzum Myrzagaliyev, has paid today an official visit to the Petromidia refinery and the site of the cogeneration plant located near the production unit in ...