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Energy & Environment

Eleven million jobs at risk from EU Green Deal, trade unions warn

Thursday, March 12, 2020

This article is part of euractiv. com special report Europe’s new Climate Law: Leaving no-one behind?. The European Green Deal risks deepening economic and social divisions between east and western EU countries, trade unions say, warning the 27-member bloc risks imploding before it reaches its 2050 climate neutrality ...

PATRES not happy with regulations planned to improve market balancing

Thursday, March 12, 2020

The association of investors in wind farms, PATRES, objected to new rules drafted by the market regulator ANRE with the declared aim of changing the behavior of wind farm operators and eventually decrease the net imports of electricity. Romania turned into a net importer of electricity last year and this was broadly interpreted in the context of obsolete domestic production capacities, part of which are polluting and inefficient. While this might be partly true, the wind ...

The European Green Deal – How can Romania turn challenges into opportunities?

Thursday, March 5, 2020

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By Laura Ciobanu, Manager, Climate Change and Sustainibility Services, EY Romania One of the priorities of the new European Commission (EC) will be the fight against climate change and environmental degradation. To that end, the European Green Deal lays down the actions meant to turn Europe into the first carbon-neutral continent by 2050. However, can Europe become the first climate-neutral ...

Committing to climate-neutrality by 2050: Commission proposes European Climate Law and consults on the European Climate Pact

Thursday, March 5, 2020

Wednesday, the Commission presented a proposal to enshrine in legislation the EU's political commitment to be climate neutral by 2050, to protect the planet and our people. The European Climate Law sets the 2050 target and the direction of travel for all EU policy, and gives predictability for public authorities, businesses and citizens. At the same time, the Commission is launching a public consultation on the future European Climate Pact. Through this consultation the ...

2050 long-term strategy

Thursday, March 5, 2020

The EU aims to be climate-neutral by 2050 – an economy with net-zero greenhouse gas emissions. This objective is at the heart of the European Green Deal and in line with the EU’s commitment to global ...

OMV and Petrom officials meet Romanian Govt. to talk about taxes and Black Sea project

Thursday, March 5, 2020

Rainer Seele, the CEO of Austrian group OMV, and Christine Verchere, the CEO of OMV’s Romanian subsidiary - OMV Petrom, had a meeting with Romanian acting prime minister Ludovic Orban and the minister of economy and energy Virgil Popescu, on March 3. The discussions addressed the sluggish legislative steps towards removing the problematic provisions of the so-called “greed tax” ordinance (OUG 114/2018), which determined OMV to ...

Record operational results for Rompetrol Rafinare, in 2019

Thursday, March 5, 2020

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Rafinare S.A. and those of the subsidiaries Rompetrol Quality Control S.R.L., Rom Oil S.A., Rompetrol Downstream S.R.L., Rompetrol Logistics S.R.L. Rompetrol Gas S.R.L and Rompetrol Petrochemicals S.R.L. Rompetrol Rafinare, part of the KMG International Group, managed in 2019 to maintain a positive trend in terms of operational results, with record values for processed raw materials, fuel production and sales on the domestic ...

Electrica's 2019 net profit decreases by 13.5pct, to 257.774mln lei

Thursday, March 5, 2020

Power supply and distribution company Electrica SA reported a net individual profit (according to preliminary unaudited results) down by 13.5pct in 2019 compared to 2018, to 257.774 million lei, and the net profit per share was of 0.76 lei, against 0.88 lei, according to the preliminary unaudited results on December 31, 2019, sent on Friday to the Bucharest Stock Exchange (BVB).At Group's level, the consolidated net profit amounted to 206 million lei, down by more ...

Energo Continent to develop 180MW wind farm in R.of Moldova

Thursday, March 5, 2020

Energo Continent, controlled by Romanian investors, will develop a 180MW wind park in the southern part of the Republic of Moldova. The investors claim that their project will be able to cover 15% of the electricity demand in the country, according to Moldovan news agency ...

Enel Romania pays EUR 625 mln dividends

Thursday, March 5, 2020

The three regional electricity distribution companies controlled by Italian utilities group Enel in Romania decided to distribute nearly RON 3 bln (EUR 625 mln) as extraordinary dividends, out of which the Romanian state and investment fund Fondul Proprietatea will receive over EUR 100 mln ...

ELCEN’s assets could be sold to any private investor

Thursday, March 5, 2020

Sierra Quadrant, the judicial administrator of ELCEN, registered with the Bucharest Court the modified plan for the reorganization of ELCEN, which will be submitted to the vote of the Creditors’ Assembly within 20 days from the publication in the Insolvency Procedures Bulletin of the announcement. ”The most important change provides for a period of six months from the confirmation of the plan by the Syndic Judge in which the Romanian state ...

ANRE Project: Gas producers must sell on the stock exchange 30% of annual output

Thursday, March 5, 2020

The National Energy Regulatory Authority (ANRE) has launched in public debate a project that provides that gas producers must sell on the stock exchange an annual quota of 30% of output, between July 1, 2020 and December 31, 2023. ANRE argues that the reason is the low liquidity of the gas market in Romania. “The draft normative act is proposed in the context in which the natural gas market in Romania has a low liquidity, the measure wishing to ...

The deposit system, the only chance for Romania; the problem of recycling is the collection

Thursday, March 5, 2020

The storage system is the only chance at the moment to increase the amount of waste collected and thus to reduce the amount of waste that reaches the landfill, said Denise Deleanu, Chief Operating Officer of Reciclad’OR, at the Circular 7 conference, organized by Green Report. “We believe that the deposit system is the only chance at the moment to increase the amount of waste collected and automatically reduce the amount of waste that ...

Transgaz signed with EBRD a memorandum regarding the cooperation and support of investments in the energy sector

Thursday, March 5, 2020

The national gas transporter Transgaz and the European Bank for Reconstruction and Development (EBRD) signed the Memorandum for Agreement regarding the cooperation and support of investments in the energy sector in Romania. Transgaz has a Development Plan for ten years where the FID projects (Final Investment Decision) and A-FID (Advace Final investment Decision) are worth 1.25billion euro. On the part of Transgaz, the ...

ANRM could bid only the onshore oil areas in the Round IX of concessions

Thursday, March 5, 2020

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The National Agency for Mineral Resources (ANRM) could bid only the 22 onshore oil areas in the IX round of concessions, as in the case of the six offshore areas there is still judicial uncertainty, according to some sources in the agency. In July 2019, ANRM announced that they offer through public appeal the concession of the operations for exploration, development and oil exploitation of 28 areas (22 onshore and 6 offshore) in the XI round of bids, ...

Nuclearelectrica obtained in tribunal the suspension of an ANRE order regarding the energy quantities at regulated prices

Thursday, March 5, 2020

Nuclearelectrica obtained in tribunal the suspension of an ANRE order through which it has presented the Methodology for the establishment of prices and electricity quantities which energy producers can sell on the regulated market this year,sources in the domain said. More exactly, it is about the ANRE order 216/2019 for the approval of the Methodology for the establishment of prices for electricity sold by producers on the basis of the regulated ...

The minister of economy: the offshore law may be amended only in the parliament

Thursday, February 27, 2020

The acting minister of economy, energy and business environment Virgil Popescu stated on Monday that gas in the Black Sea represents a country topic which should get political consensus and the Offshore law which rose many discussions may be amended only in the parliament. Present at the forum ‘ The geo-strategic  and economic importance of the Black Sea in the present European context’ the minister brought into discussion the European ...

State aid: Commission approves €251 million Romanian rescue aid to CE Oltenia

Thursday, February 27, 2020

The European Commission has approved, under EU State aid rules, Romanian plans to grant a €251 million temporary loan to Romanian state-owned lignite-based electricity producer Complexul Energetic Oltenia (“CE Oltenia”), which is currently experiencing financial difficulties. CE Oltenia has 3.2 gigawatt of capacity and generates close to 25% of electricity in Romania. ...

Energy Minister: Romania needs Black Sea gas to comply with Green Deal

Thursday, February 27, 2020

Romania needs the Black Sea gas resources in order to accomplish the ambitious carbon dioxide emission cuts undertaken through the Green Deal, Minister of Economy, Energy and Business Virgil Popescu told a specialist conference on Monday."The European Green Deal is the hot topic of this year. Under the Green Deal, the European Union aims to reduce carbon dioxide emissions by 55 percent until 2030, a high ambition Romania has acquiesced to and I think that we can ...

Nuclearelectrica posts profit increasing by 31.7 pct last year

Thursday, February 27, 2020

The National Company Nuclearelectrica SA (SNN) posted a net profit of 541 million lei at the end of last year, an increase by 31.7 pct compared to 2018, according to the Preliminary Unaudited Individual Financial Statements sent by the company to the Bucharest Stock Exchange (BVB).The company's total revenues last year rose to 2.378 billion lei, of which 2.365 billion lei were revenues from the sale of electricity and 12.208 million lei came from electricity ...

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