Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Energy & Environment

Transgaz gets harsh fine for past procurement

Thursday, December 17, 2020

Consiliul Concurentei ruled that the natural gas transport system operator Transgaz must pay a RON 34.2 million (EUR 7 mln) fine, representing 1.85% of the company's 2019 turnover, for irregularities found in connection to procurement procedures carried in 2011.   Transgaz explained that the fine is related to its activity in 2009-2011, before it adopted corporate management principles in line with the ...

The Court acquitted Lukoil accused of fraud and money laundering

Thursday, December 17, 2020

The Prahova Court acquitted, in a retrial, the companies Petrotel Lukoil and Lukoil Holland accused of fraud and money laundering in a case initiated by former prosecutor Mircea Negulescu.The sentence is not final and can be appealed by prosecutors at the Ploiesti Court of Appeal, according ...

Romania falls six places in the Climate Change Performance Index

Thursday, December 17, 2020

Romania ranks 30th in the Climate Change Performance Index (CCPI) 2021 developed by Germanwatch, NewClimate Institute, and Climate Action Network. Last year, Romania was at number 24.   The CCPI currently evaluates and compares the climate protection performance of 57 countries and of the European Union (EU), which are together responsible for more than 90% of global greenhouse gas (GHG) emissions. It ...

Commission proposes revised rules for cross-border energy infrastructure in line with the European Green Deal

Thursday, December 17, 2020

The European Commission has Tuesday adopted a proposal to ...

Eximbank US could finance investments in energy in Romania, including gas extraction in the Black Sea

Thursday, December 10, 2020

201210112541gaze_marea_neagra_56787654_02429900.jpg

Eximbank US could finance investments projects in energy in Romania, including as regards gas extraction in the Black Sea, a press release of the ministry of economy, energy and business environment says.Minister Virgil Popescu had a working meeting with a delegation of Eximbank US, led by the chairman of the bank, Kimberly Reed. The meeting was also attended by the US ambassador to Bucharest, Adrian ...

Commission calls on BULGARIA, CZECHIA and ROMANIA to comply with the EU rules on emergency stocks of crude oil and petroleum products

Thursday, December 10, 2020

Commission decided to send letters of formal notice to Bulgaria, Czechia and Romania requesting to take action to ensure full application of the EU legislation on oil stocks. The Oil Stocks Directive ...

Commission welcomes arrival of ‘Caspian gas’ to EU countries

Thursday, December 10, 2020

The European Commission welcomed on Friday (4 December) the start of the operations of the Trans-Adriatic Pipeline (TAP), the last stretch of the Southern gas corridor, thanks to which gas pumped from the Shah Deniz offshore gas field in Azerbaijan started reaching Italy.   As a key component of the 3,500 km Southern gas corridor, the TAP pipeline became operational on 15 November, ...

Nova Power and Electrogrup – new gas plant worth 7 mln. euro

Thursday, December 10, 2020

Nova Power & Gas and Electrogrup, member companies of the E-INFRA group, announce the start of works at the first natural gas-fired power plant in Campia Turzii, Cluj County, in a project worth 7 million euro.   „The Campia Turzii project is our first investment in state-of-the-art natural gas power plants, with increased efficiency and high operational flexibility. The plant will develop a ...

EU opens door to gas and nuclear in search for deal on 2030 climate target

Thursday, December 10, 2020

European Union is offering assurances on funding for poorer members and countries’ ability to choose their own energy mix, as it strives for a deal next week on a tougher target to cut greenhouse gas emissions, according to EU documents and sources.   To get on track for its plan to have “net zero” emissions by 2050, the EU’s executive Commission says the bloc must cut its net emissions at ...

Wider use of carbon markets to boost net-zero future – EBRD paper

Thursday, December 10, 2020

2012101128381604585984European_Bank_for_Reconstruction_and_Development__1_.jpg

If more countries start recognizing the catalytic potential of carbon markets, the cost of achieving their climate mitigation targets will go down. This will make it easier for countries to step up ambition of their climate efforts and aligning more closely with the 1.5 °C temperature threshold of the Paris Agreement when communicating new or updated national plans.   Now that the ...

Rompetrol opened a new gas station in Borjomi – Georgia

Thursday, December 10, 2020

201210113207Rompetrol_Georgia___Borjomi.jpg

KMG International Group recently opened a new Rompetrol gas station in Georgia, near the tourist resort of Borjomi - famous for its brand of carbonated natural mineral water exported to over 40 countries.   Located in the center of Georgia, the unit is part of the new concept of Rompetrol gas stations in Romania and in the region – the Republic of Moldova and Bulgaria, characterized by the new ...

Ceremony for the finalisation of the works for the first stage of the BRUA gas pipeline

Thursday, December 3, 2020

2012031007579_brua_gazoduct_istock_636032898.jpg

President Klaus Iohannis stated on Saturday, on the occasion of the visit to the Unit for natural gas compression Jupa, that Romania is the second big producer of natural gas in the EU, but even so, half of the households use heating with wood. He congratulated the Transgaz company for finalising ‘ the most ambitious project in the domain of energy’ when referring to the BRUA gas pipeline, project made with European funds as ...

The law which modifies the provisions regarding the mining fee for resources and natural mineral waters exploitation promulgated

Thursday, December 3, 2020

President Klaus Iohannis promulgated on Friday the normative document for the amendment and completion of the law of mines 85/2003, sends the Presidential Administration.   This amends the law of mines in the sense that a percentage of 80% of each mining fee owed to the state budget be transferred to the local authorities on whose administrative territory the exploitation is. Out of this percentage, 55% goes to the local ...

Changes to the Mining Law – interview with Nicolae Turdean, the president of ANRM

Thursday, December 3, 2020

President Klaus Iohannis promulgated the amendments to the Mining Law so that part of each mining royalty due to the state budget would be transferred to the local authority in whose administrative territory the royalty-bearing exploitation was carried out.   The law also requires that by July 1, 2021, the Government should modify the organization and functioning structure of the National Agency for Mineral Resources in ...

ANRE OKays Transgaz investment plan worth EUR 4.2 bln until 2029

Thursday, December 3, 2020

The National Energy Regulatory Authority (ANRE) approved Transgaz's 2020-2029 investment plan, which provides for projects with a total value of EUR 4.2 billion, at the meeting of the regulatory committee on 25 November, according to a statement posted on the company's website."Transgaz's management continues one of the largest and most important natural gas transport infrastructure development programmes in Romania over the last 20 years, with investment projects ...

AIK Energy suspends operations in Romania

Thursday, December 3, 2020

AIK Energy Romania, a subsidiary of AIK Energy Ltd, headquartered in London, had its electricity supply activity suspended by the market operator ...

CEZ to complete sale of Romanian assets by mid-2021

Thursday, December 3, 2020

Australian group Macquarie Infrastructure and Real Assets (MIRA) could complete the takeover of Czech group CEZ's assets in Romania in the first half of next year, after obtaining approvals from the competition authority in Brussels and Romania's Supreme Council of National Defense (CSAT), Ondrej Safar, general manager of CEZ Romania said on Wednesday, November 25.   "As we have already informed, the ...

The ministry of energy: there are companies interested to get into offshore exploitation of gas

Thursday, November 26, 2020

201126092248desc__rcare__4_.jpeg

Dan Dragan, state secretary in the ministry of energy says that there are important companies who want to get on the market of offshore gas extraction in Romania‘The ministry of economy announced that they prepare an amendment of the offshore legislation which they intend to place under public debate and send it to the new parliament as soon as possible. The purpose is to eliminate as many barriers as possible and free important investments for the Black Sea ...

OMV Petrom: Black Sea could turn Romania into EU's largest gas producer

Thursday, November 26, 2020

Romania could become the EU's largest gas producer once the exploitation of Black Sea gas deposits begins, Franck Neel, member of OMV Petrom's Executive Board, told an online conference on Wednesday.We started with the liberalization of the natural gas market as of July 1, 2020. It was a good initiative to get in line with the European Union, and an important step, because there has been much debate about how prepared the market is and for finding solutions ...

Romgaz to double turnover in seven years by burning more gas

Thursday, November 26, 2020

The strategy of the Romanian state-owned gas and power group Romgaz includes the development of gas-to-power installations with a combined capacity of 1,500-2,000 MW.   The investment might double the group's turnover, but this would require external natural gas resources, said the general manager of Romgaz, Adrian Volintiru, at the Romanian International Gas Conference (RIGC), an online event organized ...

Premium News

Daily

Monday, September 27, 2021

Financial & Banking

Monday, September 27, 2021

Economic

Tuesday, September 21, 2021

Companies

Wednesday, September 22, 2021

Energy & Environment

Thursday, September 23, 2021