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Energy & Environment
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 ...
KHNP and Candu Energy are bidding together for the modernization of reactor 1 at Cernavoda
Thursday, May 9, 2024
Korea Hydro & Nuclear Power (KHNP), a South Korean state-controlled company, announced on Monday that it had signed an agreement with Canadian group Candu Energy to speed up preparations to submit a bid in the tender to be held to upgrade the reactor 1 from Cernavoda, Yonhap agency informs. KHNP stated that it signed an engineering services contract with Candu, in accordance with their objective to ...
Minister Burduja: Romanian energy and gas prices, among the lowest in the EU
Thursday, May 9, 2024
Romania had in the second half of 2023 the third lowest price paid by the population for natural gas and the fifth for electricity, according to Eurostat, which published statistics on the prices paid for electricity and natural gas by household consumers and non-households within the European Union (EU). The price of natural gas for households in Romania (0.0563 EUR/kWh) was the 3rd lowest price in the ...
Hidroelectrica resumes work on the Bumbesti-Livezeni hydroelectric project
Thursday, May 9, 2024
Hidroelectrica resumes work on the Bumbesti-Livezeni hydroelectric project, following a Government decision declaring it of public utility and national interest. The project, 90% complete, was halted in 2017 by the Bucharest Court of Appeals at the request of several environmental NGOs. According to a statement from Hidroelectrica, between April 28-30 there was a working visit and discussions with the ...
OMV Petrom posts RON 1.39 bln in Q1 net income, 6 pct lower y-o-y
Thursday, May 9, 2024
OMV Petrom Group posted a net income of RON 1.399 billion for Q1 2024, down 6 percent year-over-year from RON 1.481 billion, according to the financial report submitted to the Bucharest Stock Exchange.Consolidated sales revenues dropped 10 percent from the same period in 2023, affected by lower gas and electricity prices, as well as lower volumes of natural gas sales; this was partially offset by higher volumes of electricity and refined ...
Premier Energy Group Announces Publication Of Prospectus And Start Of Offer Period
Thursday, May 9, 2024
Premier Energy PLC , a privately owned vertically integrated energy infrastructure companies in SEE and one of the largest renewable energy players in Romania and the Republic of Moldova (“Moldova”), today announces the approval by the Romanian Financial Supervisory Authority and the publication of the prospectus for the initial public offering (the “IPO”) of its ordinary shares and for the admission of the Shares to trading on the Bucharest ...
OMV Petrom abandons search for hydrocarbons on Black Sea shelf of Georgia
Thursday, May 9, 2024
OMV Petrom SA has decided to leave Georgia, Report informs referring to the company. “The decision to leave the country has been made,” the company said in its quarterly report regarding offshore exploration work in Block II, located on the Black Sea shelf of Georgiaquited by https://www.azerbaycan24.com/. In March 2021, an agreement was signed providing for the extraction, collection, ...
Saint-Gobain signs Romanian energy deal
Thursday, May 9, 2024
Saint-Gobain has signed a five-year renewable electricity supply agreement (power purchase agreement or PPA) in Romania with energy supplier OMV PETROM SA, ...
Rompetrol Rafinare shareholders approve 2024 budget estimating losses of almost 40 million dollars
Thursday, May 9, 2024
Rompetrol Rafinare shareholders approved, in the Ordinary General Assembly, the draft revenue and expenditure budget for 2024, which estimates a net loss of 39.758 million dollars this year, according to a report submitted on Monday to the Bucharest Stock Exchange.The gross turnover is estimated at 4.516 billion dollars and the net one at 3.52 billion dollars, while the operating profit, without depreciation and amortization expenses (EBITDA) at 123.92 ...
Premier Energy Group acquires Mihai Viteazu wind farm in Constanta county
Thursday, May 9, 2024
The Premier Energy Group acquired the Mihai Viteazu wind farm in southeastern Constanta county, a region famous for its favorable wind conditions, the total installed capacity being 80 MW, and the estimated net production 165 GWh per year, the company announced on Monday.The value of the transaction is 88 million euros and includes approximately 520,000 green certificates. This will be subject to the standard regulatory approvals for this type of transaction ...
Romgaz's hydrocarbon production in Q1 2024 is 8.36 million boe
Thursday, May 9, 2024
Romgaz recorded in the first quarter of this year a total hydrocarbon production of 8.36 barrels of oil equivalent (boe), 4.56% higher than in the same period last year, according to a report submitted to the Bucharest Stock Exchange on Friday.The amount of natural gas extracted, gross, was 8.30 million boe (+4.39%), and the condensate production was 62,000 boe (plus 32.46%).Natural gas from internal production capitalized totaled 1.208 billion ...
Coal production decreases by 5.6%, imports down by 2.2% in first two months of 2024
Thursday, May 9, 2024
Romania's net coal production totaled, in the first two months of this year, 344,600 tonnes of oil equivalent (toe), being 5.6% lower (minus 20,300 toe) compared to the same period in 2023, according to data centralized by the National Institute of Statistics (INS).Net coal imports were, in the mentioned period, 22,700 toe lower by 500 toe (minus 2.2%) compared to January-February 2023.In the last forecast of the energy balance, the ...
SMR project in Romania to benefit from highest level of nuclear safety, technological robustness
Thursday, May 9, 2024
The SMR project in Romania will benefit from the highest level of nuclear safety and technological robustness, said Nuclearelectrica CEO Cosmin Ghita, after a visit to the Doosan Enerbility plant in Changwon, South Korea, as part of the delegation led by the President of Romania, Klaus Iohannis.According to a company press release, the visit to Doosan Enerbility was aimed at investigating Doosan's advanced SMR production capabilities. It also envisaged ...