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Energy & Environment
Iohannis: European Commission commits itself to bring some solutions to energy prices increase within a week
Thursday, October 7, 2021
President Klaus Iohannis said on Wednesday that, after the informal meeting of the European Council, the European Commission has committed itself to come up with some solutions on increasing energy prices."We had an informal discussion last night and I think two conclusions are very important, which were drawn from the discussions that lasted until late at night. The first is related to the way in which we, the EU, see ourselves in the global politics, the ...
The minister of energy: Romania will build with American, Canadian and French partners the two reactors in Cernavoda
Thursday, October 7, 2021
Decarbonisation without nuclear energy is impossible, that is why, Romania will build with American, Canadian and French partners the two reactors in Cernavoda, announced on Wednesday the minister of energy Virgil Popescu following the plenary session’ Building a green future – getting to net zero’. Moderated by John Kerry, special envoye of the president of US for ...
Romgaz and ExxonMobil extend negotiations on Deep Water XIX Neptune Zone perimeter
Thursday, October 7, 2021
Romgaz and ExxonMobil announced on Tuesday that they extend the exclusivity period from October 15, 2021 to November 15, 2021 for negotiations on the purchase of all shares issued by ExxonMobil Exploration and Production Romania Ltd., that holds 50% of rights received and obligations assumed through the Concession Accord for oil exploration, development and exploitation in the Deep Water XIX Neptune ...
Romgaz to double indebtedness for taking over Black Sea offshore project stake
Thursday, October 7, 2021
Romanian state-controlled natural gas company Romgaz confirmed in a note to investors that it ...
Romgaz sets operational and green targets for 2030
Thursday, October 7, 2021
The shareholders of state-controlled Romgaz, the largest gas producer in the country, were expected to vote on the company's development strategy for the period 2021-2030. Romgaz's strategic objectives are to reduce emissions of carbon, methane and other gases by at least 10% (by 2030 compared to 2020), an annual decline in gas production of less than 2.5%, an EBITDA operating profit margin between 25 - 40% and a ROACE ...
Borosan: Interconnection of the Iasi-Ungheni-Chisinau gas pipeline is of major importance for the Republic of Moldova
Thursday, October 7, 2021
The Iasi-Ungheni-Chisinau gas pipeline is already interconnected and this means diversifying Moldova’s gas supply routes, which will certainly increase the competitiveness of the gas market, said Constantin Borosan, Secretary of State for Energy, Ministry of Infrastructure and Regional Development, within the ...
Public and private action Fit for 55. How to build a working ecosystem
Thursday, October 7, 2021
by Radu Magdin, analyst and consultant Climate changes we are experiencing today are placing Romania and the rest of the EU member states before a myriad of policy options in tackling this emerging challenge, as well as associated opportunities and costs for key stakeholders, including the population and the ...
Energy performance criteria should become widespread in public tenders
Thursday, October 7, 2021
The European Commission has published a new set of recommendations ...
ANRE is investigating 26 energy companies for market manipulation
Thursday, September 30, 2021
The National Energy Regulatory Authority (ANRE) is investigating 26 energy companies for market manipulation, and fines will be between 5% and 10% of their turnover, the chairman of ANRE, Dumitru Chirita, said on this Wednesday.He was audited in the parliamentary inquiry committee regarding energy prices."We have 26 economic operators being investigated for market manipulation. What we noticed: operator A sells operator B a quantity of electricity, B sells to A the ...
President Iohannis: High energy prices - global issue, Government has taken issue very seriously
Thursday, September 30, 2021
President Klaus Iohannis said on Monday that high energy prices are a global problem, but that these issues are being discussed both at European level and in the Romanian government."There is no coincidence that the President [of the European Commission - ed.n.] and I have discussed this topic today, quite a lot and deeply. I want it to be very clear. High energy prices, especially electricity, are not a Romanian problem. It is an issue that seems to have become ...
EnerMin: We could discuss about over-taxing energy companies, to cap final consumer's price
Thursday, September 30, 2021
Energy Minister Virgil Popescu said on Monday he is willing to consider the option of over-taxing energy companies as a tool to limit the high energy prices for final consumers."Today I heard about another type of capping - capping by taxation. It's a discussion that can take place. I'm not an advocate of capping the price of the producer, because that's what staves off investment, but if we're talking about something else, an over-taxation for extra-profits, if we're ...
High electricity prices boost Nuclearelectrica’s earnings
Thursday, September 30, 2021
Romanian state-controlled power company Nuclearelectrica (SNN) targets a 40% higher net profit this year, compared to the previous budget, mainly due to the increase in electricity prices. The outlook of the energy sector as a whole is also supportive of the investors’ expectations, which pushed up the company’s shares markedly since the beginning of the year. The target is included in the draft budget for this year, which will ...
PNRR: 4.3GW of new green & gas power units to replace coal-fired plants by 2025
Thursday, September 30, 2021
Romania will gradually shut down its entire 4.59GW coal-fired power plants by the end of 2032 under a frontload schedule, according to the recovery and resilience plan (PNRR) sealed with the European Commission. Romania has become the 19th European country to formalise plans to exit coal, announced Europe Beyond Coal (EBC) - an alliance of civil society groups working to catalyse the closures of coal mines and power plants. "With only 810 MW of ...
BSOG seeks 15-year extension of Black Sea concession Midia
Thursday, September 30, 2021
The owners of the Midia natural gas perimeter in the Romanian offshore, Black Sea Oil & Gas (BSOG) and Petro Ventures and Gas Plus, have applied to the Agency National Institute for Mineral Resources (ANRM) for a 15-year extension of the concession agreement concluded with the Romanian ...
Romgaz seeks EUR 350 mln to pay for Exxon's 50% stake in Neptun Deep
Thursday, September 30, 2021
State-controlled company Romgaz will borrow EUR 350 mln from a syndicate of banks to finance the purchase from Exxon of the 50% participation in the Neptun Deep offshore gas project carried out with OMV Petrom. According to estimates, Romgaz should pay around close to EUR 1 bln for the 50% ...
Renovatio returns to Romania’s green energy market with 50 MW wind project
Thursday, September 30, 2021
Renovatio Asset Management, backed by Portuguese EDP Renewables in Romania and International Financial Corporation (IFC) in Moldova, has got the technical permit to connect to the national power grid a wind farm developed under a EUR 40 mln ...
EnerMin Popescu: Decarbonisation process cannot be without nuclear power
Thursday, September 30, 2021
Energy means security, and the decarbonisation process cannot be without nuclear power, Energy Minister Virgil Popescu said on Thursday after the ministerial meeting of the Transatlantic Partnership for Energy and Climate Cooperation (P-TECC) held in Poland in Warsaw, according to a press release of the Ministry of Energy."I've said that energy means security, and the process of decarbonisation cannot be without nuclear power. At the same time, during the meeting with our ...
Danish renewable enegy company European Energy enters Romanian market
Thursday, September 30, 2021
The Danish renewable energy company European Energy, which develops, finances, builds and operates wind and solar farms, as well as hydrogen installations and global storage capacities, has opened a subsidiary in Romania, as part of the expansion plans of international presence and strategy to becoming an important player on the local market, says a press release sent by the company .Starting with September, Ioannis Kalapodas was appointed Head of ...
Repair works at Petromidia Navodari refinery, near completion
Thursday, September 30, 2021
Rompetrol Rafinare, member company of the KMG International Group, has completed most of the turnaround of the production units on the Petromidia platform and performs the last technical checks in order to restart the production activity in conditions of maximum safety. The technological installations will be restarted in stages and are expected to reach, by the end of October, the optimal operating efficiencies, the company informs in a press release sent to ...
ENEL X AND POWER ELECTRIC PARTNERSHIP FOR THE DEVELOPMENT OF THE PRIVATE CHARGING AREA FOR ELECTRIC VEHICLES AND THE EXTENSION OF THE NETWORK OF STATIONS IN ROMANIA
Thursday, September 30, 2021
Enel X Romania, a subsidiary of Enel X, the Enel Group's advanced energy services business line, has signed an agreement with Power Electric to sell electric vehicle charging stations, the company informs in a press release sent to ACTMedia.. It is the first partnership of this kind signed by Enel X Romania to expand the client portfolio and accelerate the ...