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Energy & Environment
Electrica rated BBB by Fitch, investment grade with stable outlook
Thursday, September 26, 2019
Electrica Group obtained the corporate rating of issuer “BBB” Investment Grade, with a stable outlook, from the financial evaluation agency Fitch Ratings. The rating is higher than the sovereign rating of Romania (“BBB minus” / stable outlook) due to the reduced connections of the company with its main shareholder, the Romanian state, is shown in the Fitch statement. In the opinion of the financial evaluation agency, the ...
Enel aiming to cut greenhouse gas emissions by 70 pct by 2030
Thursday, September 26, 2019
Enel has committed to a 70 percent reduction in its direct greenhouse gas emissions per kWh by 2030, from a 2017 base-year, making it an early adopter of the emission reduction target in line with the April 2019 update of the Science Based Targets initiative (SBTi). Furthermore, Enel has committed to reduce by 16 percent its indirect emissions from the sale of natural gas in the retail market by 2030, also from a 2017 ...
Offshore law to be amended, to remove several tax barriers
Thursday, September 26, 2019
Energy Ministry has launched to public debate a draft law to radically amend the Offshore Law, which is regulating the investments in gas&oil deposits in the Black Sea. The amendments are ...
Consumers to pay EUR 2 bln over 10 years to save Oltenia Energy Complex
Thursday, September 26, 2019
All electricity consumers in Romania may have to pay a special fee for a period of ten years, between 2020 and 2030, to save the country’s second-biggest electricity producer – the Oltenia Energy Complex (CEO), ...
Bucharest plans to set up 300 solar-powered parking meters
Thursday, September 26, 2019
The municipal company Parking Bucharest plans to invest RON 58 million (EUR 12.2 million) over the next five years to modernize the city’s parking lots. A total of RON 20 million (EUR 4.2 million) would go on setting up 300 parking meters, RON 2.3 million (EUR 484,210) on the additional software to manage the meters, RON 8.5 million (EUR 1.7 million) on a parking lot management and maintenance software, and RON 15 million (EUR 3.1 million) ...
The 28th Rompetrol gas station in Dolj County
Thursday, September 26, 2019
Rompetrol Downstream – KMG International Group retail division in Romania opened the fifth Rompetrol gas station in Craiova (12 Henry Ford str.). The total investment amounts to $1.5 million and ensures 15 new work places. „The new gas station, the 11th opened this year, is part of the company’s strategy for the expansion of the retail network at the national level and the consolidation of its presence in key areas. This allows ...
ENEL X JOINS HUBJECT, A GLOBAL NETWORK OF MORE THAN 200,000 CHARGING POINTS
Thursday, September 26, 2019
By becoming a 12.5% shareholder in e-mobility joint venture Hubject, Enel X can extend the charging network accessible to its customers to the overall Hubject network Enel X will contribute with its technological expertise to further expand and strengthen Hubject, with the aim to boost worldwide electric mobility penetration Enel X has become a 12.5% ...
Top executive of Romanian energy company Transelectrica dismissed over diploma forgery suspicions
Thursday, September 26, 2019
The top executive of Romanian major energy company Transelectrica, which is consider a strategic company, was dismissed on Thursday morning over allegations that he forged his faculty diploma. The decision to remove executive Marius Danut Carasol from office was made by the Transelectrica supervisory board.Transelectrica confirmed initial reports regarding his dismissal in a press release stating that the decision is applicable today, September 19.He ...
Rafo Onesti, officially bankrupt
Thursday, September 26, 2019
The Bacau Tribunal ruled on Thursday the bankruptcy of Rafo Onesti, 11 years after the refinery's activity stopped, according to a press release of the Transylvania Insolvency House (CITR) .The Rafo bankruptcy comes as a natural consequence of the fact that the investors' intentions did not materialize in a transaction, corroborated with the expiration, on August 22, 2019, of the company's 18-month reorganization plan."Rafo Onesti has a symbolic ...
Cernavoda NPP shuts down Unit 1 for remediation works
Thursday, September 19, 2019
Romania's Cernavoda nuclear power plant (NPP) has shut down its Unit 1 in a controlled manner on Wednesday morning for remediation works to a process parameter, Cernavoda operator Nuclearelectrica [BSE:SNN] said. According to the power plant's norms and procedures, the remediation works require a controlled shutdown of the unit and will have no adverse impact on the personnel, the population and the environment, the company said in a statement filed with the Bucharest Stock ...
Head of Transelectrica suspected of having falsified his diploma in engineering
Thursday, September 19, 2019
The chief executive of major Romanian energy company Transelectrica appears to have falsified his diploma in engineering which he listed in his resume, Transelectrica sources have told HotNews.ro. Previously, education news website Edupedu.ro has reported that the executive, Marius Danut Carasol, has falsified his resume data.The website reported that Carasol attended the Electronic technologies faculty of the Politehnica University in Bucharest for two years, but did not ...
Romanian authorities alerted by major companies' plans to sell assets, planned regulation shows
Thursday, September 19, 2019
All companies in the enegy sector may be forced to notify Romania's energy market regulator ANRE with a minimum 12 months in advance about any intention to change their judicial statute, a draft order of the ANRE which has been submitted for public consultation says. The bill comes at a delicate time for the local energy market.Both ENEL and CEZ companies have announced their interest in selling significant assets in Romania. ExxonMobil is also reported to consider a Black Sea ...
Reuters: IKEA buys 80% stake in Romanian wind farms from Vestas
Thursday, September 19, 2019
Ingka Group, which owns most IKEA stores, said on Friday it would buy an 80% stake in seven Romanian wind farms from wind turbine maker Vestas (VWS.CO) for 136 million euros ($151 million). Ingka Group said ...
FPPG: Romania is the largest natural gas producer in Eastern Europe
Thursday, September 19, 2019
Romania is the largest natural gas producer in Easter Europe, with an average natural gas production in recent years of about 11 billion cubic meters, the Oil and Gas Employers' Federation (FPPG) stated."Today, 13 September, we are celebrating the Day of the Romanian Gas Worker. The Oil and Gas Employers' Federation, through its member companies, conveys a thank-you message to all the people working in the natural gas sector and, on this occasion, brings to mind the importance of ...
ENEL, 70% LESS GREENHOUSE GAS EMISSIONS BY 2030, SCIENCE-BASED TARGET CERTIFIED
Thursday, September 19, 2019
Enel strengthens its leading position in the energy transition by ramping up its push towards decarbonisation, drastically cutting its emissions compared to 2017 levels, as certified in line with SBTi, a global initiative which validates corporate decarbonisation strategies The new commitment, which follows the UN pledge to pursue the goal of limiting the maximum global temperature increase to 1.5°C from pre-industrial levels, ...
'We need this dinosaur’: EU lifts veil on gas decarbonisation strategy
Thursday, September 19, 2019
As the new European Commission of Ursula von der Leyen prepares to take office, one of its key priorities will be to deliver on a new market design for gas that will have EU decarbonisation objectives at its core. And natural gas of fossil origin will play a significant part, officials say, quoted by euractiv.com. It now looks like the legislative proposals, due in 2020, will be renamed the “gas decarbonisation package,” reflecting a growing focus on natural gas as a ...
Rainer Seele, confirmed for two more years at the helm of OMV
Thursday, September 19, 2019
The term of office of the current CEO and Chairman of the Executive Committee of the OMV, Rainer Seele, was extended for another 2 years, until June 30, 2022, with the right of extension for another year. The decision was taken on Wednesday by the OMV Supervisory Board, which motivated it with the exceptional results recorded by the company in 2015, since the appointment of Seele to OMV management: a doubling of the adjusted operating results and a 40% increase in ...
FPPG rejects the alarmist statements about the effects of returning to a free and functional gas market
Thursday, September 12, 2019
The Oil and Gas Employers’ Federation ...
“Just E-Volution 2030” study: Romania will gain more than 3 bln. euro in GDP form energy transition
Thursday, September 12, 2019
The growth of industrial production, an increase in employment and positive effects on health, accompanied by a sharp reduction in the associated socio-economic costs: Europe is moving towards an increasingly sustainable future driven by the energy transition. This is the picture that emerges from the Just E-Volution 2030 study, produced by The European House – Ambrosetti in collaboration with Enel and the Enel Foundation and launched within the framework of The European House – ...
Mistery company becomes one of Romania's biggest gas importers
Thursday, September 12, 2019
Gas market stakeholders have been watching the spectacular evolution of a limited company with only two employees which has become one of the biggest gas importers in Romania, hotnews.ro reads. In April this year, it even became the biggest importer, temporarily, with over 50% of total imports. Voices on the market claim the strings behind the company may lead to Moscow.Regulators in both Romania and Hungary are said to run a joint investigation on the activities of the company, ...