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Energy & Environment
The Council of Competition has authorised the taking over of Crucea Wind Farm and Steag Energie Romania by Hidroelectrica
Thursday, February 11, 2021
The Competition Council has authorised the trading in which Societatea de Producere a Energiei Electrice in Hidrocentrale Hidroelectrica SA has taken over the companies Crucea Wind Farm SA and Steag Energie Romania SRL,according to a press release of the competition authority.Hidroelectrica SA is one of the main producers and suppliers of energy in Romania, as well as supplier of system technologial services.The main activity of Crucea Wind Farm SA is the ...
Opinion: What trends will mark the energy sector in 2021?
Thursday, February 11, 2021
Energy efficiency is important for companies in many fields of activity: industrial production, distribution and logistics, construction, and real estate, etc. The performance of energy efficiency depends on the quality of the equipment used, but also on the ability to maintain them in good working order, and here digital technologies and sensors are helpful, shows Lucian Anghel, founder and CEO of EneryPal-TimePal Romania, in an opinion. Another important ...
Minister Virgil Popescu: the offshore law will be amended in 2021
Thursday, February 11, 2021
The amendment of the Offshore law will be made during this year, but the exploitation of gas in the Black Sea cannot start before 2024-225, according to the minister of energy, Virgil Popescu.‘The exploitation of gas in the Black Sea cannot start before 2024-2025 if the decision for investments is made this year. What the operators in the Black Sea want is the amendment of the Offshore law so that it boosts investments andwe will do it, during this ...
OMV Petrom CEO: Black Sea gas is waiting to be exploited, 2021 is a critical year
Thursday, February 11, 2021
This year is critical for the offshore gas projects in the Black Sea as the gas there is waiting to be exploited and the investment decision depends only on the measures to be decided by the Romanian authorities, OMV Petrom CEO Christina Verchere said in an interview ...
OMV Petrom proposes same dividend as last year despite 64% profit drop
Thursday, February 11, 2021
Romanian oil and gas group OMV Petrom (SNP), the most valuable company listed on the Bucharest Stock Exchange, recorded a 64% drop in net profit in 2020 compared to 2019, to RON 1.29 bln (EUR 266 mln). However, the company’s Directorate proposes that the gross dividend for 2020 stays at the same level as the one paid from the 2019 profit, namely RON 0.031 per share. Thus, the shareholders could get total dividends worth RON 1.75 bln (EUR 360 ...
Romgaz hydrocarbon production falls 14.2% in 2020
Thursday, February 11, 2021
Romanian natural gas producer Romgaz [BSE:SNG] said that its total hydrocarbon production fell by 14.2% year-on-year in 2020 - to 29.24 million barrels of oil equivalent (boe), according to preliminary figures. Gross gas production decreased by 14.3% on the year to 29.06 million boe, Romgaz said in a statement on its 2020 preliminary operating results filed with the Bucharest Stock Exchange (BVB) ...
OMV Petrom 2020 net profit plummets 64%
Thursday, February 11, 2021
Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Thursday its net profit plummeted 64% year-on-year to 1.291 billion lei ($318.5 million/265 million euro) in 2020. The weak performance was mainly caused by the unfavorable market environment, as lower prices and the COVID-19 crisis had a negative impact on the group’s performance, blue-chip OMV Petrom said in an unaudited consolidated financial statement filed ...
State aid: Commission opens in-depth investigation: CE Oltenia
Thursday, February 11, 2021
The European Commission has opened an in-depth investigation to assess whether Romanian support measures in favour of Complexul Energetic Oltenia SA (‘CE Oltenia') would be in line with EU rules on State aid to companies in difficulty. CE Oltenia, a Romanian majority state-owned lignite-based electricity producer, has been experiencing financial difficulties. Following a temporary rescue aid granted by Romania to the ...
Green bonds offer to finance the supplier Restart Energy’s investments – oversubscribed in the first ten days after launch
Thursday, February 11, 2021
Restart Energy, one of the largest independent suppliers of electricity and natural gas on the local market, successfully concluded a green bond offer conducted between January 20 and February 3, 2021, obtaining financing of 16,361,200 lei, oversubscribed and completed in advance after the first ten days from launch. According to the Offer Document, the offer’s value was 15,000,000 lei, with the possibility of supplementation. The bond issue ...
Hidroelectrica wants to invest over 170 million lei in the retechnologisation of the Bradisor hydro-power station
Thursday, February 4, 2021
The state run company Hidroelectrica, one of the biggest energy producers in the country, wants to invest 170.37 million lei in the re-technologisation of the Bradisor hydro-power station.The topic will be placed under approval of the AGM of the Shareholders on 4th March. This re-technologisation aims at the CHE Bradisor functioning under conditions of safety for the ...
Romanian retailer Altex aims to install 0.67ha of PV panels on its buildings
Thursday, February 4, 2021
Altex, the leader of the electro-IT retail market in Romania, wants to install as many PV panels as possible on the roofs of its stores and logistics parks in the coming years. The retailer has already installed over 1,600 photovoltaic panels on its stores and Altex logistics centers in Arad, Satu Mare, and Chiajna and is deploying over 3,000 more photovoltaic panels in Lugoj, Deva, and Dragomiresti, aiming at a total ...
Reveal Marketing Research : Romanians' perception regarding the liberalization of the energy market in January 2021
Thursday, February 4, 2021
88% of Romanians say they knew that the energy market has been liberalized starting with January 1, 2021. 64% of respondents say they intend to continue with the same energy supplier. One third of Romanians (33%) found out about the liberalization of the energy market only after the 1st of January ...
Completion of the participation of BULGARTRANSGAZ to the LNG Terminal in Alexandroupolis
Thursday, February 4, 2021
The participation of BULGARTRANSGAZ, the operator of the national natural gas transmission network of Bulgaria, with 20% in the share capital of the Greek company GASTRADE that develops the Liquified Natural Gas (LNG) Terminal in Alexandroupolis, was completed today following the approval granted by the Bulgarian Commission for Protection of Competition. The participation of Bulgartransgaz in the ...
Elcen will rent modular capacities only for next winter, implementation would take 2-3 months
Thursday, February 4, 2021
Electrocentrale Bucuresti (Elcen) will rent modular thermal energy production capacities only for next winter, as the commissioning works would have lasted up to three months, Elcen administrator Claudiu Cretu told Energynomics. Initially, Elcen intended to carry out the connection of capacities following an emergency procedure, in order to make up for heat losses, especially in sectors 2 and ...
Enel Green Power and FNM sign agreement for hydrogen mobility development
Thursday, February 4, 2021
Examining and identifying the best way to supply green hydrogen – produced exclusively using renewable energy – for mobility by rail in Lombardy, as part of the “H2IseO” project. This is the aim of the memorandum of understanding signed by FNM and Enel Green Power. The agreement, signed by FNM Chairman Andrea Gibelli and Enel Green Power CEO Salvatore Bernabei, foresees the establishment of a joint ...
The law of vulnerable consumers must cover much more than financial aids for heating
Thursday, February 4, 2021
The draft law on vulnerable consumers launched by the Ministry of Labor has stimulated numerous comments and proposals for improvement from energy experts. It is not clear whether these were taken into account by the authorities, as the messages sent to the ministry were not followed by invitations to dialog or mere acknowledgment of receipt. One of the most important observations arising from the analyzes ...
White House says Biden believes Nord Stream 2 pipeline is ‘bad deal’ for Europe
Thursday, January 28, 2021
President Joe Biden believes the Nord Stream 2 natural gas pipeline is a “bad deal for Europe” and his administration will be reviewing restrictions on the project included in a bill that passed during the Trump administration, the White House said on Tuesday (26 January), euractiv.com informs. The restrictions on the undersea pipeline project were included in the annual defense policy bill ...
German government, businesses come forward in support of Nord Stream 2
Thursday, January 28, 2021
The German government said it will not abandon the Nord Stream 2 project, despite US sanctions and calls by the European Parliament to impose EU measures against the Russian-backed gas pipeline project over the Navalny case. “There is no direct connection between the Navalny case and Nord Stream 2,” government spokesman Steffen Seibert said in Berlin on Monday (25 January), adding that the ...
IRENA Forges New Partnerships to Advance Energy Transformation
Thursday, January 28, 2021
The International Renewable Energy Agency (IRENA) signed a host of new agreements in the margins of IRENA’s recently concluded Eleventh Assembly. The four-day meeting held virtually for the first time brought close to 100 minister level representatives and 2000 attendees together to discuss pathways needed to drive renewables adoption in a year of critical climate action. In the margins of the ...
Nuclearelectrica signed with E.ON Energie a contract worth almost 239 million lei
Thursday, January 28, 2021
Nuclearelectrica signed with E.ON Energie Romania a contract worth 238.853 million lei for the sale of wholesale electricity according to a report sent on Friday to the Bucharest Stock Exchange.The period for the energy delivery will be 1-28 February 2021.The National Society Nuclearelectrica is producer of electrical, thermal and nuclear energy. The company has two unincorporated branches: Sucursala CNE Cernavoda which exploits unit 1 and 2 from CNE ...