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Energy & Environment
WindEurope: Romania must raise renewable energy target for 2030, as neighbouring countries' example
Thursday, November 14, 2019
The countries around Romania have increased their initial renewable energy target for 2030, at the recommendation of the European Commission, and so should the new Government of Romania, on Thursday said Giles Dickens, CEO of WindEurope, present in Bucharest at the "Energy Transition 2019" conference.Only seven weeks to go until Romania and the other European states must finalize the National Energy and Climate Plans, in order to define their renewable energy ...
ENEL, NET ORDINARY INCOME UP 14.1% IN THE FIRST NINE MONTHS OF 2019, ORDINARY EBITDA TARGET FOR THE YEAR REVISED UPWARD TO 17.8 BILLION EUROS
Thursday, November 14, 2019
Revenues: 57,124 million euros (55,246 million euros in the first nine months of 2018, +3.4%) the increase was mainly attributable to the activities of Infrastructure and Networks, especially in Latin America thanks to the contribution of Enel Distribuição São Paulo in Brazil and the settlement of pending regulatory issues in Argentina, as well as to Thermal Generation and Trading activities, mainly in ...
Romania could benefit faster from bilateral contracts (PPAs)
Thursday, November 14, 2019
The Energy Law, now in the Chamber of Deputies, could include a provision regarding power purchasing agreements (PPAs), which would allow the development of the renewable market, told energynomics.ro a source close to the wind industry. “The adoption of Regulation 943 in the legislation will take place in January, and passing the new Energy law through the Parliament, mentioning the possibility of ...
Minister Popescu: Energy and gas subsidies to the entire population of Romania must cease
Thursday, November 14, 2019
Subsidizing the price paid by the entire population of Romania for energy and gas should cease and will continue to receive aid only those who really need it, said on Wednesday, the Minister of Energy and Business Environment, Virgil Popescu, at the taking office ceremony. “We want to repeal GEO 114 which has caused great dissensions in the market. We will see the European Commission’s response to the proposed timetable and depending on ...
Head of DG Clima met with officials of the Ministry of Economy and Energy for the Modernization Fund – more than 5 billion euros in stake
Thursday, November 14, 2019
The officials of DG Clima met in Bucharest on last Thursday with representatives of the Ministry of Economy and Energy, to elaborate some details related to the new investment facilities of the European Union, sources told energynomics.ro. Mainly, there were discussions about the major facilities made available to Romania by the Union through the Modernization Fund, which could bring to Romania about 5 billion euros, said the source. “The head of ...
Europe needs to double electricity share to meet climate goals – EU official
Thursday, November 14, 2019
The European Green Deal to be unveiled in early 2020 will pursue a strategy of increasing the share of electricity in the EU’s energy mix, the new head of the European Commission’s energy department told a conference in Brussels Wednesday (6 November), quoted by euractiv.com. “First assessments show we need to double the share of electricity in energy consumption by 2050,” Ditte Juul-Jørgensen said at an event organised ...
WTS Energy Romania opened a new office in Bucharest targeting new onshore and offshore developments
Thursday, November 14, 2019
In 2016, when the first discussions of opening the WTS Energy office in Romania have started between the current country manager of WTS Energy Romania, Mihaela Sarlea (Manta) and the CEO of WTS Energy, Frederik Rengers, there were a lot un uncertainties in the oil and gas market. Following years of working on Middle East area, Mihaela ?arlea embraced the ...
PM Orban: We will try to identify fastest solutions to unblock gas drilling in the Black Sea
Thursday, November 7, 2019
Prime Minister Ludovic Orban on Wednesday sent a message to the investors in the energy sector that the new Government will try to identify the fastest solutions to unblock the major offshore gas projects in the Black Sea.He attended the new Minister of Economy, Energy and Business Environment Virgil Popescu's portfolio takeover ceremony."In economy, our main objective is to regain the trust of the business environment in the Government. (...) For we ...
2018 primary energy production goes down 1.7pct; energy product imports went up 4.2pct
Thursday, November 7, 2019
Total energy resources available in 2018 stood at about the same level with those of 2017; compared to previous year, the primary energy production decreased by 1.7%, while imports of energy resources increased by 4.2%, gross inland consumption of energy increased by 0.4% and final energy consumption increased by 1.5% Romania's primary energy production declined by 1.7 percent in 2018 against the previous year, energy ...
Clarke Energy buys Romania's TEB Energy Business, Greek unit Genelco
Thursday, November 7, 2019
UK-based multinational company specialised in the engineering, installation and the maintenance of engine-based power plants Clarke Energy said on Friday it has acquired Romanian energy service company TEB Energy and its Greek subsidiary Genelco Power Systems. The deal, whose value was not disclosed, includes the addition of 38 new employees and an installed gas engine fleet in these countries of more than 200 MW in the field, Clarke Energy said in a ...
MOL Group: financial results for Q3 of 2019
Thursday, November 7, 2019
Last week, MOL Group announced its financial results for the third quarter of 2019. Despite a weaker macro environment and much lower oil and gas prices, strong Q3 EBITDA allows MOL Group to raise 2019 full year guidance to „around USD 2.4 bn” from „around USD 2.3 bn. Upstream EBITDA declined to USD 235mn in Q3, reflecting lower oil and significantly lower gas prices. The volume of hydrocarbon production slightly decreased by 1 % ...
Transgaz inaugurated second compressor station under BRUA project
Thursday, November 7, 2019
Romanian gas transmission company Transgaz [BSE:TGN] said on last Thursday that it has inaugurated the Podisor gas compressor station, part of the first stage of the BRUA gas pipeline project. The value of construction works at the Podisor gas compressor station totalled 104.5 million lei ($25 million/22 million euro), Transgaz said in a press release. The two compressor units fitted at the station cost a further 12.6 ...
ENEL JOINS “VALUABLE 500” GLOBAL MOVEMENT THAT PUTS DISABILITY ON BUSINESS AGENDAS
Thursday, November 7, 2019
Rome, November 6th, 2019 - Enel has joined the “Valuable 500”, a global movement calling for the participation of 500 private companies aimed at unlocking the business, social and economic value of people living with disabilities across the world. The Group, which has already integrated disability into the agenda of its Board of Directors, has taken a public commitment to disability action. Maria Patrizia Grieco, Enel Chairman, commented: ...
Romgaz is looking at greenfield development of wind and solar projects
Thursday, November 7, 2019
Romanian state-owned gas producer Romgaz is looking at greenfield development of wind and solar projects as it plans to begin producing electricity from renewable sources, Alexandra Posea, investor relations manager at Romgaz, said at BR’s Foreign Investors Summit. She spoked about the current challenges in the local gas market. “The challenges in the gas market are many. One of them is the fact that the gas is on ...
Ukraine ready in case transit of Russian gas stops
Thursday, November 7, 2019
Ukraine is ready for the gas transportation being stopped on the Ukrainian territory in case a new gas transit contract with Moscow is not negotiated, Ukraine’s Energy Minister Oleksiy Orzhel announced on Monday (4 November). The current gas contract expires on 31 December, euractiv.com reads. EU-mediated talks about the gas contract are currently in a deadlock. The EU has invested a lot of effort into ...
OMV Petrom Jan-Sept net profit rises 3% on higher sales
Thursday, October 31, 2019
Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Wednesday its net profit rose by 3% year-on-year to 2.76 billion lei ($643 million/580 million euro) in the first nine months of 2019. The increase was sustained by higher sales, blue-chip OMV Petrom said in its third-quarter unaudited consolidated financial statement filed with the Bucharest Stock Exchange, BVB. Sales rose 13% year-on-year to ...
German petroleum industry is convinced: The future belongs to cloud and web services
Thursday, October 31, 2019
* IFLEXX Meeting 2019 discusses community reorientation With data communication being a vital element of a seamless downstream supply chain, partnering companies must agree upon common processes and standards. To discuss this topic further, key players of the German petroleum industry gathered at the 15th IFLEXX meeting in Bochum on Thursday, October 24. All in all, 14 companies followed the invitation of the international software and consulting firm ...
Rompetrol Bulgaria opened its 55 fuel station, in Dupnitsa
Thursday, October 31, 2019
Rompetrol Bulgaria has officially opened a new fuel station in Dupnitsa, a city located 70 km south of the capital Sofia. Dupnitsa is an important industrial and commercial center in the western region of Bulgaria, with modern facilities in the pharmaceutical sector and heavy vehicles. Thus, Rompetrol Bulgaria has created 9 jobs and is still committed to community development, through jobs generated and taxes paid. The new station is considered a step ...
Romgaz: We are looking at greenfield development of wind and solar projects
Thursday, October 31, 2019
Romanian state-owned gas producer Romgaz is looking at greenfield development of wind and solar projects as it plans to begin producing electricity from renewable sources, Alexandra Posea, investor relations manager at Romgaz, said at BR’s Foreign Investors Summit. She spoked about the current challenges in the local gas market. “The challenges in the gas market are many. One of them is the fact that the gas is on ...
Greenlight for Lukoil Overseas drilling operations in Romanian Black Sea waters
Thursday, October 31, 2019
The Competent Authority for Regulation of Offshore Oil Operations in the Black Sea (ACROPO) has sent Lukoil Overseas its greenlight so the latter may start oil drilling operations in the Trident perimeter of the Romanian Black Sea territorial waters, according to a Facebook post of the institution."In accordance with the provisions of Law no. 165/2016 regarding the safety of offshore oil operations, with the subsequent modifications and amendments, following the ...