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Energy & Environment

Five EU countries call for 100% renewable energy by 2050

Thursday, March 7, 2019

* The European Union’s 28 energy ministers had their first public debate on the European Commission’s 2050 climate plan on Monday (4 March) but five member states derided the lack of a 100% renewable energy scenario among the EU executive’s proposed options, euractiv.com informs. The Commission’s Clean ...

#Romania2019.eu/Political agreement on reference indices for low-carbon activities

Thursday, February 28, 2019

The Presidency of the Council and the European Parliament reached a preliminary agreement on Monday on a proposal introducing a new category of financial reference indices aimed at providing broader information on the carbon footprint of an investment portfolio, informs a press release of the EU Council."The transition to a sustainable, low-carbon economy requires us to review how we operate in business and how we invest our money. Thanks to today's agreement, ...

Nuclearelectrica 2018 net profit up 27.4 pct

Thursday, February 28, 2019

National Company Nuclearelectrica (SNN) posted a 27.4 pct rise in the 2018 net profit that stood at 390.545 million lei, compared to 306.542 million in the previous year, according to the financial data released by the Bucharest Stock Exchange (BVB).The net profit per share increased to 1.3 lei from 1.02 lei.The company's total revenues were 2.128 billion lei, of which revenues from the sale of electricity amounted to 2.116 billion lei (2.111 billion ...

GEO 114/2018 will have negative effects on the natural gas market and the entire Romanian economy

Thursday, February 28, 2019

The Romanian Petroleum Exploration and Production Companies Association (ROPEPCA) brings to public opinion the results of a study analyzing the impact of Government Emergency Ordinance no. 114/2018 (GEO 114/2018) on the natural gas sector in Romania. The study, made by Deloitte Romania, reveals that GEO 114/2018 will have negative effects on the whole economy, among which we mention the decrease in contributions to the state budget, the disturbance of ...

Opinion: Overview of Romania Energy Industry

Thursday, February 28, 2019

Romania today is facing various challenges on multiple domains, energy being one of them. As the country struggles with corruption problems, a backlash from the private sector for the last fiscal changes, everything appears to fail and the EU presidentship got the country’s representatives as unprepared as this winter,energyindustryreview.com reads. Political, legal and economic instability became the national status quo during the last years, ...


Thursday, February 28, 2019


E-Distribu?ie Muntenia has invested 24.35 million lei in building two new underground high voltage power lines in Bucharest, in order to increase the capacity of the grid and enhance the quality of the distribution service and the safety of the energy supply for over 100.000 customers in central and northern areas of city. Thus, E-Distribu?ie Muntenia finalized, at the beginning of this year, the project for the complete replacement of the 110 kV ...

Transgaz to spend EUR 2 bn by 2027, of which half for BRUA pipeline

Thursday, February 28, 2019

Transgaz has planned total investments of EUR 1.9 million for expanding the gas transport system, according to its 2018-2027 Development Plan, which will be put to a vote in the shareholders’ meeting on March 11. The most important project in the plan is the BRUA pipeline connecting Bulgaria, Romania, Hungary and Austria, where the following investments have been allocated: phase 1 with EUR 478.6 million, phase 2 ...

MOL’s retail fuel sales in Romania maintained their strong level in 2018

Thursday, February 28, 2019

In 2018, MOL’s retail fuel sales in Romania maintained its strong 2017 level. Retail diesel sales noted a slight increase in 2018 (by 1%), while its gasoline sales were marginally lower compared with 2017. MOL Group announced its financial results for 2018 on Friday, saying it increased its EBITDA by 10% comfortably beating its upgraded 2018 target as Upstream and Consumer Services continued to significantly increase their contributions, while a ...

Gov't plans to change mining royalties setting new benchmark

Thursday, February 28, 2019

Government plans to change mining royalties setting new benchmark on the prices registered at international commodities exchanges, a new draft bill indicates. In Romania, mineral resources in the territory and in the basement of the country and the continental shelf, economic zone in the Black Sea are considered exclusive public property belonging to the Romanian ...

Mazarine Energy will continue investments in Romanian oil fields

Thursday, February 28, 2019

Mazarine Energy, an oil company specialized in exploiting mature oil fields in Romania, estimates the country’s oil reserves at more than one billion barrels and remains interested in more investments, the company’s manager Spencer Coca said on February 20 at the ZF Power Summit energy conference. Mazarine is part of Washington-based Carlyle Group, as well as Black Sea Oil and Gas (BSOG), which operates an offshore perimeter in ...

OMV Petrom : Romania’s offshore is “huge opportunity”, but more is needed

Thursday, February 28, 2019

"The Black Sea is a huge opportunity for both OMV Petrom and Romania, but a free gas market, stable taxation and key infrastructure are necessary to move ahead with the project," OMV Petrom CEO Christine Verchere said at the ZF Power Summit on February 20. It is “a truly important project” and OMV Petrom wants to go further, so the company will continue talks with the authorities, who also want the project to move on, said the oil company's ...

Energy poverty prevalent in SEE countries, Bulgaria worst performer in EU - European Right to Energy coalition

Thursday, February 28, 2019

A majority of EU countries have significant levels of energy poverty, especially prevalent in Southeast Europe (SEE), and are unable to keep all their citizens warm this winter, the European Right to Energy coalition said, quoted by seenews.com. “Bulgaria far outstrips other countries for prevalence of four key indicators - damp and leaky homes, high energy costs for households, inability to keep homes warm against winter, and inability to keep ...

Romanian presidency of Council of EU gets support from member states for Natural Gas Directive

Thursday, February 21, 2019

The Permanent Representative Committee of the governments of Member States approved the provisional agreement reached by the Romanian presidency of the Council of the European Union with the European Parliament on the Natural Gas Directive, with the next step being the adoption of the Directive by the European Parliament, the Ministry of Energy announced."I am very pleased we've reached this agreement so quickly. This agreement eliminates a problem existing with ...

Electrica group planned investments worth 739 million lei for this year

Thursday, February 21, 2019


The Electrica group planned investments worth 739 million lei this year and 710 million of the sum is the investment plan of the distribution branches, informs the company in a press release sent on Wednesday to the BVB.‘During the meeting of 19 February 2019 the Board approved the consolidated sum for the Investment Plan (CAPEX) of the Electrica Group for 2019, worth 739 million ron. Out of this value, 710 million ron is the investment plan (CAPEX) of the ...

ROMGAZ supports completion of the Southern Corridor as a first step of national strategic intentions

Thursday, February 21, 2019


On the fifth annual meeting of the Southern Gas Corridor Advisory Council (SGC Advisory Council), taking place Wednesday in Azerbaijan, Romgaz restated its support for the development of the Southern Gas Corridor, while considering to continue the transmission infrastructure by finalising the Bulgarian-Romanian Interconnector and BRUA Project, in the context of developing the relationship with Azerbaijan and the potential partnership with ...

Extension of Iasi-Ungheni gas pipeline to Chisinau, to contribute to regional energy security

Thursday, February 21, 2019

The extension of the Iasi-Ungheni gas pipeline to Chisinau will contribute to regional energy security, Prime Minister Viorica Dancila said on Tuesday in the opening of the Government meeting."As I have said on several occasions, we are also concerned about the investments that contribute to the development of the entire region and, in this respect, the relationship with the Republic of Moldova is a special one. To this end, I welcome the start of the second phase ...

Transgaz starts building key-gas pipeline aiming to allow Chisinau to import gas from Romania

Thursday, February 21, 2019


The state-owned company Transgaz has officially started to build a key-gas pipeline that will allow Moldova to import Romanian gas for its Capital city. The second phase of the Iasi-Ungheni-Chisinau pipeline, 120 km-long, will connect Chisinau with Ungheni, allowing most part of Moldova and especially Chisinau to use Romanian gas and avoiding the current monopoly of the Russian giant Gazprom. “The project represents a ...

Hidroelectrica posts record profit in 2018

Thursday, February 21, 2019

State-controlled Hidroelectrica, the largest Romanian electricity producer, posted a record RON 1.55 billion (EUR 330 million) net profit in 2018, up 13.9% compared to the previous year. Its turnover increased by 30.7% to RON 4.25 billion (EUR 900 million), according to unaudited data published in the annual report of Fondul Proprietatea (FP), a minority shareholder in the company, quoted by ...

OMV Petrom to invest over EUR 55 million in pipeline installation works

Thursday, February 21, 2019

OMV Petrom is ready to spend up to RON 264.8 million (EUR 55.8 million) on works to install pipelines, according to a statement published on the SICAP acquisitions platform. The tender refers to the acquisition of “works to install high-density steel, glass fibre and polyethylene pipelines”. The value of the framework agreement is estimated between RON 32.1 million (EUR 6.8 million) and RON 264.8 million (EUR 55.8 ...

Transelectrica profit, up over three times in 2018

Thursday, February 21, 2019

National electricity transport company Transelectrica posted a net profit of 89 million lei in 2018, over three times higher than in the previous year, when it reported 28 million lei, according to the preliminary financial information sent on Friday to the Bucharest Stock Exchange.Gross profit rose by 106pct, from 47 million lei in 2017 to 96 million lei in 2018. Revenues totaled 2.719 billion lei, down 11pct.In 2018, the company saw a 54pct increase ...

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