RSS
Energy & Environment
Rompetrol Rafinare recorded losses in 2023
Thursday, March 7, 2024
Rompetrol Rafinare, a member company of the KMG International Group, recorded, in 2023, a decrease in financial indicators, on the background of the volatility of international quotations for crude oil and refined products. Quotations continued their downward trend, reaching in 2023 a decrease of 14% for gasoline and 21% for diesel. Thus, the gross turnover was 5.3 billion dollars, in 2023, a 19% decrease compared to the previous year, the operating ...
Transgaz net profit down 56 pct in 2023
Thursday, March 7, 2024
National Gas Transmission Company Transgaz recorded a gross profit of 198.679 million RON in 2023, down 238.795 million RON (-55%) compared to the previous year, while net profit was 159.962 million RON, down 205.793 million RON (minus 56%), according to preliminary data sent to the Bucharest Stock Exchange on Thursday.Revenues from operating activities before balancing and construction activities were higher than those realized as of December 31, 2022 by 9% (plus ...
Nuclearelectrica closes 2023 with rd 2.5 bn RON in profit
Thursday, March 7, 2024
Societatea Nationala Nuclearelectrica recorded a net profit of almost 2.5 billion RON in 2023, 10.2% lower than the one obtained in 2022, according to preliminary data submitted to the Bucharest Stock Exchange on Thursday.EBITDA decreased last year by 13.1%, to 3.1 billion RON, while revenues from the sale of energy increased from 6.3 billion RON in 2022 to 7.4 billion RON in 2023.Energy production totaled 10,294 GWh, being 0.9% higher compared to the ...
Electrica Group profit, up by 11% in 2023
Thursday, March 7, 2024
The Electrica Group recorded a net profit of 620.4 million RON in 2023, up by 61.6 million RON (plus 11%), according to preliminary data submitted on Thursday to the Bucharest Stock Exchange.The company's report states that the result was generated mainly as a result of the performance of the distribution segment, in the context of the decrease in electricity costs to cover OTC (own technological consumption), as a result of the implementation of the MACEE centralized ...
Green House Photovoltaic Panels program gets record-high RON 2bn budget
Thursday, February 29, 2024
The Green House Photovoltaic Panels program is the most popular program run by the Environmental Fund Administration (AFM), so that a record-high budget of two billion RON was allocated for this year's relevant applications, AFM said in a release.The government approved at its Wednesday meeting AFM's budget for the current year, which provides for an allocation of RON 300 million for registrations within the Rabla Classic car scrappage program.RON 600 ...
Electrica officially included in FTSE Russel Global Equity Index Series
Thursday, February 29, 2024
Power distribution and supply company Electrica was approved for inclusion in the FTSE Global Equity Index Series (GEIS), and will effectively join the FTSE Russell indices starting with the March 18, 2024 trading session, the company said in a report submitted to the Bucharest Stock Exchange.The indices committee of global provider of benchmarks and indices FTSE Russell confirmed on Tuesday evening that Electrica shares comply with all the criteria for inclusion in the ...
SEE Countries Move At Varied Speeds In Grid Modernisation, Energy Storage
Thursday, February 29, 2024
Bulgaria, Croatia, Greece, Romania, Serbia and Slovenia already comply with the EU’s 2030 target for 15% grid interconnection compared to installed power, but the expected flurry of capacity additions, especially in terms of renewable energy, necessitates new projects to avoid clogs. Individual country plans in that regard seem encouraging but there are significant discrepancies at the regional level. These varied speeds of development are even ...
Engie Romania's Richard: Gas reserves, opportunity for Romania to make gradual transition to green energy
Thursday, February 29, 2024
The country's gas reserves represent an extraordinary opportunity for Romania to make a gradual transition to green energy, Engie Romania CEO Nicolas Richard told a specialist event on Tuesday.When we talk about the energy transition, we are actually talking about several perspectives: the first one refers to the energy mix, that is how we produce, how we consume. The second, which is very important, concerns everything related to resilience, system ...
Amounts over RON 45 billion collected by state from energy companies, RON 25 billion, settled
Thursday, February 29, 2024
The energy system has contributed much more than it has received in the context of the energy crisis and as a result of all the fiscal measures, with the amounts collected from energy companies exceeding RON 45 billion, of which no more than RON 25 billion have been settled, Energy Minister Sebastian Burduja told the ZF Power Summit on Tuesday.Asked whether the capping scheme will be extended until 2026, the minister replied that in the current formula it will be difficult ...
Hidroelectrica - Masdar partnership, very close to be inked
Thursday, February 29, 2024
The partnership with the Emirati company Masdar is "very close to inking", the final approvals will be given in the management, directorate and supervisory boards, after which the project can be started, Borbely Karoly, chief executive officer of Hidroelectrica, said on Tuesday."We are at the end, very close to signing. The final approvals in the management, directorate and supervisory boards are coming, after which we can start the project. It is a very big company, we ...
OMV Petrom signs two financing contracts for two green hydrogen production facilities
Thursday, February 29, 2024
OMV Petrom has signed two financing contracts under the National Recovery and Resilience Plan (PNRR) for the construction of two production facilities for green hydrogen of a total capacity of 55 MW at the Petrobrazi refinery, the company reported on Monday.The contracts were signed with the Romanian Ministry of Energy for a maximum funding amount of EUR 50 million; the total investment is approximately EUR 140 million."Through our Strategy 2030, ...
Gas imports drop 6.2 pct, domestic production goes up 1.5 pct in 2023
Thursday, February 29, 2024
Romania's net gas imports in 2023 amounted to 2.117 million tons of oil equivalent (toe), 6.2 percent down (-141,000 toe) from the previous year, shows data released on Thursday by the National Institute of Statistics (INS).The domestic production of natural gas last year totaled 7.5 million toe, up 1.5 percent (+109,000 toe) over 2022.According to estimates by the National Economic Strategy and Forecasting Board (CNSP), Romania's natural gas production will ...
Hidroelectrica launches new tender to rehabilitate Vidraru hydroelectric plant
Thursday, February 29, 2024
Hidroelectrica has resumed the tender for the refurbishment of the Vidraru hydropower plant through the electronic public procurement system (SEAP). The estimated contract value for this project is €188 million, reflecting an update of costs to new market values. The project “Refurbishment of AHE Vidraru” aims to carry out a complex set of works, including the assembly of mechanical and electrical equipment, integration of upgraded ...
A consortium of Romanian and Ukrainian companies are developing a project for producing hydrogen in Ukraine
Thursday, February 29, 2024
A consortium of Romanian and Ukrainian companies are developing a project for producing hydrogen in Ukraine and transporting it via natural gas pipeline to Europe, said Oleksandr Riepkin, Special Envoy of the Minister of Foreign Affairs of Ukraine on Economic Diplomacy and Member of the Board of the Ukrainian Hydrogen Council. The hydrogen that will be produced in Ukraine will be used by ...
Romgaz investments will exceed 4 bln. lei in 2024
Thursday, February 29, 2024
Romgaz has a very large investment plan for this year, of over 4 billion lei, and the drilling at Caragele has been restarted, with approximately 10 unconditional deep wells in the plan and two or three more conditional on the discoveries they will make does, said the general manager of Romgaz, Razvan Popescu. “We have a very large ...
Analysis: Natural gas market situation stabilises
Thursday, February 22, 2024
Europe has successfully weathered the energy storm of 2022-2023 and, in the absence of unforeseeable events, we will see a stabilisation of the situation on the natural gas market and, implicitly, of the price, but future energy crises determine the need for long-term energy strategies and the existence of plans of measures for energy emergencies, says the president of the Intelligent Energy Association, Dumitru Chisalita, in an ...
Prosumers already pay for "sun tax" metering
Thursday, February 22, 2024
The National Energy Regulatory Authority (ANRE) has prepared the infrastructure for charging self-consumption with prosumers' money, despite assurances from the government that it will not introduce the so-called "sun tax", claim on Monday the representatives of the Association of Prosumers and Energy Communities of Romania (APCE), in a release.According to the source, prosumers pay extra for these equipment without benefiting or being informed ...
Crude oil production down 4.4pct, imports 15.3pct lower in 2023
Thursday, February 22, 2024
Romania produced 2.795 million tonnes of oil equivalent (toe) of crude oil in 2023, 129,200 toe less (-4.4%) than in the same period last year, according to data centralised by the National Institute of Statistics (INS).Crude oil imports amounted to 7.371 million toe last year, 1.332 million toe less than in 2022 (-15.3%).According to the latest energy balance forecast, published by the National Commission for ...
Lockheed Martin and Romania Sign Letter of Energy Collaboration
Thursday, February 22, 2024
On Feb. 8, the Lockheed Martin (NYSE: LMT) Energy team hosted the Romanian Minister of Energy, Sebastian Burduja, for discussions on how the GridStar Flow® battery can help Romania with its net zero goals, and to sign a letter of energy collaboration. “Lockheed Martin’s GridStar Flow aligns with our goals and objectives for improving Romania’s energy ...
Minister Burduja: Romania to maintain the same energy price cap for another year
Thursday, February 22, 2024
Romania’s cap on energy prices will remain unchanged until March 2025, announced Romanian Energy Minister Sebastian Burduja on Thursday, meaning Romanian consumers will continue enjoying the EU’s fourth cheapest gas prices. After that date, adjustments to the pricing scheme may occur depending on market dynamics, he added, noting that the aim is to better target support ...