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Energy & Environment
Rompetrol Rafinare, a new type of product for the production of protective medical masks
Thursday, August 27, 2020
Rompetrol Rafinare through its petrochemical division - the only polymer producer in Romania has successfully developed a new product in the last 3 months, a special type of polypropylene dedicated to protective medical masks. It’s meant for the middle layer of the mask, the most important layer for filtering and protecting against pathogens. It is a premiere for Romania and Central and Eastern Europe, a major success of the team of specialists ...
ENEL X TEAMS UP WITH HUBJECT TO STREAMLINE PAYMENT SOLUTIONS FOR THE E-MOBILITY INDUSTRY
Thursday, August 27, 2020
Hubject, the world leading roaming platform will provide settlement solutions to facilitate transactions between charging point operators and e-mobility service providers, with the aim to boost profitability of electric mobility Enel X subsidiary Enel X Financial Services has been awarded a long-term partnership agreement with Hubject leveraging on the company’s fintech ...
Participation of BULGARTRANSGAZ in the Alexandroupolis LNG Terminal
Thursday, August 27, 2020
The Greek company Gastrade SA announces the signing of the agreement for the acquisition of 20% of its share capital by the Bulgarian company BULGARTRANSGAZ EAD (BTG), operator of the National Natural Gas System of Bulgaria, the company said in a statement. The agreement was signed in Athens by the Founding Shareholder Chairman of the Board of Directors of Gastrade, Mrs. Elmina Kopelouzou and the CEO of Bulgartransgaz, Mr. Vladimir Malinov in the ...
Euractiv: Turkey announces historic gas discovery in Black Sea
Thursday, August 27, 2020
President Recep Tayyip Erdo?an on Friday (21 August) said Turkey had made its biggest-ever discovery of natural gas after completing new exploration work in the Black Sea, euractiv.com reports. Erdo?an said the 320-billion-cubic-metre deep sea find was made at a site Turkish vessel Fatih began exploring last month, adding he hoped to see the first gas reach Turkish consumers in 2023, the 100th anniversary of the birth of the modern ...
FPPG : Turkey could become Romania's partner in Black Sea gas projects
Thursday, August 27, 2020
Turkey could become Romania's partner in Black Sea gas exploitation projects, with the huge discovery of gas in Turkish waters, Daniel Apostol, director of foreign relations with the Romanian Federation of Petroleum and Gas Employers (FPPG) told Agerpres on Monday.On Friday, Turkey announced the discovery of deposits estimated at 320 billion cubic meters of gas in the Black Sea, near the Neptun Deep perimeter in Romanian territorial ...
E-Distributie invests 100 million euros in 2020 in the modernization of electricity networks in Romania
Thursday, August 27, 2020
E-Distributie companies in Romania will invest 483 million lei (approximately 100 million euros), during the current year, in the modernization of the electricity network in Bucharest and in the ten counties in Romania in which they operate. The value of this year’s modernization programs adds up to the 2.025 billion lei investments made by E-Distribu?ie Banat, E-Distributie Dobrogea and E-Distributie Muntenia during the 2015-2019 ...
Hidroelectrica's H1 net profit drops 11 pct YoY
Thursday, August 27, 2020
Hydropower producer Hidroelectrica posted a mid-year net profit of 806 million lei, by 11 percent less YoY, the company said in a report posted on its website.The company's EBITDA (earnings before interest, taxes, depreciation and amortization) was 26 percent less, at 1.251 billion lei, while operating revenues fell 23 percent to 1.823 billion lei."Operating revenues in the first half of the year were lower than in the same period of 2019 as a result ...
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 ...