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Energy & Environment
Romania aims to become first country at Black Sea to have offshore wind legislation
Thursday, November 2, 2023
Romania aims to become the first country bordering the Black Sea to have legislation in the offshore wind sector, said National Energy Regulatory Authority (ANRE) President George-Sergiu Niculescu, at the Global Wind Offshore Regulators Forum in the US.He said that by the end of the year the draft law could be submitted to Parliament for adoption, in order to create the necessary legal framework for the development of offshore wind energy investments in the ...
Greenpeace Romania protest in Neptun Deep perimeter area
Thursday, November 2, 2023
Greenpeace activists protested on Tuesday on the Romanian coast, both in water and on land, to draw attention to the risks involved in the Neptun Deep project for biodiversity in the Black Sea.According to a press release from the environmental organization, the protesters marked with a yellow "X" the place where the pipeline from the sea will enter the land and displayed messages such as: "We protect what we love, we protect the Black Sea," "OMV ...
Largest photovoltaic park in southeastern Europe, opens in Ratesti, Arges County
Thursday, November 2, 2023
The largest photovoltaic park in Romania and southeastern Europe, stretching over approximately 170 hectares, was inaugurated on Tuesday in Ratesti, southern Arges County."The benefits of this inauguration are numerous and have a significant impact on Romania," secretary of state in the Ministry of Energy, Marius Neagu said at the inauguration event."We did some studies (...) by which we estimate that in the horizon of 2030 we will have around 45,000 ...
OMV Petrom estimates growing investments in 2023, up to 5.5 billion RON
Thursday, November 2, 2023
The total value of OMV Petrom's investments are estimated for the entire year 2023 to reach 5.5 billion RON, an increase compared to 2022, dedicated mainly to the Neptun Deep project, projects with reduced and zero carbon emissions, as well as the planned general overhaul of the Petrobrazi refinery."The value of investments is estimated to be up to 5.5 billion RON, with higher investments compared to 2022 dedicated mainly to the Neptun Deep project, projects with ...
Coal production down 15.2 pct, imports down 55.4 pct in first 8 months
Thursday, November 2, 2023
Romania's net coal production in the first eight months of this year totalled more than 1.715 million tonnes of oil equivalent (toe), up 15.2% (308,600 toe) from the same period in 2022, according to data centralised by the National Institute of Statistics (INS).In the reporting period, Romania imported 150,500 toe of coal net, by 186,900 toe (55.4%) less y-o-y.According to the National Strategy and Forecast Commission (CNSP) , Romania's coal ...
World Bank Warning: Rising Oil Prices Due To Regional Risks
Thursday, November 2, 2023
The World Bank has warned that the price of oil could see increases in the future, presenting three risk scenarios in a recent report titled “Commodity Markets Outlook.” While the international financial institution expects the global oil price to decrease to an average of $81 per barrel in 2024, it emphasized that an escalation of the conflict in the Middle East could lead to significant oil price hikes. The report outlines three possible ...
Romania collecting a little over 2 bn RON from oil & gas, mineral royalties
Thursday, November 2, 2023
Romania currently collects some 2 billion-plus RON in royalties, with the bulk of the amount - 1.2 billion RON - coming from the exploitation of natural gas, shows data presented by Finance Minister Marcel Bolos at the end of Friday's government meeting."I admit it, we put in that percentage that was agreed upon in the Coalition, of indexing the royalties by inflation, but the same draft ordinance stipulates that the stability clauses of the exploitation ...
Transelectrica: Winter power consumption peaks expected to be around 9,000 MW
Thursday, November 2, 2023
Power consumption peaks this winter are expected to be around 9,000 MW, lower than in previous years, director of National Power Grid Company Transelectrica Virgiliu Ivan on Friday told a conference titled "Challenges of winter 2023 - 2024 for the national energy system", organized by news outlet Focus Energetic.Ivan emphasized that this year, "the fruits" of the new installations connected into the system - of the producers, of the investors who ...
Romgaz: No syncopation in gas supply this winter
Thursday, November 2, 2023
Romgaz is ready for the coming winter, with more than 3 billion cubic meters of gas in storage, and will meet all its obligations without any problems, Romgaz director general Razvan Popescu said on Friday."If we talk about deposits, they are at an extremely high level. We have over 3 billion cubic meters in storage and we are certainly ready for the coming winter. In terms of a safety net, Romgaz still has a natural gas purchase contract with Socar and if ...
EnergMin Burduja: Romania can outlive a moderate winter without energy imports
Thursday, November 2, 2023
Romania can outlive a moderate winter without problems in terms of energy supply and without resorting to imports, Energy Minister Sebastian Burduja said on Friday."In a moderate winter, as specified in the piece of legislation adopted by the government in preparation for the wintertime, Romania can outlive without problems and without resorting to imports. And even more so when it comes to natural gas, where domestic production, albeit smaller in ...
Ingka Investments buys 300-MWp solar project in Romania
Thursday, November 2, 2023
The Netherlands-based firm Ingka Investments has acquired a 300-MWp ready-to-build solar photovoltaic project in Dambovita county, Romanian, it said in a press release on Thursday quoted by https://renewablesnow.com/. The project will require an investment of over EUR 200 million (USD 210.9m). Details about the acquisition were not ...
OMV Petrom delists from London Stock Exchange
Thursday, November 2, 2023
OMV Petrom announces the entry into force of the delisting of GDRs from the standard listing segment of the Official List of the Financial Conduct Authority and the cessation of trading of GDRs on the Main Market of the London Stock Exchange, according to a company report submitted to the Bucharest Stock Exchange (BVB) on last Thursday."Following the current report dated August 24, 2023, the company hereby announces that: all global depository receipts ...
Level of investments in development of energy distribution network must triple in order to reach targets in 2030
Thursday, November 2, 2023
The investments made by the distribution operators in the development of the network amounted to 13.5 billion RON in the last 6 years, but in order to reach the targets that Romania has for 2030, a tripling of them is needed in a minimum mandatory scenario, the executive director of the Federation of Associations of Energy Utility Companies (ACUE), Daniela Daraban, said during The Sustainability Challenge 2023 conference, on Thursday.In her opinion, for this ...
CIS Gaz signs memorandum of cooperation with Egyptian gas transmission company Town Gas
Thursday, November 2, 2023
CIS Gaz continues the process of expanding and consolidating its presence in Egypt and has signed a Memorandum of Cooperation with Town Gas, the largest gas transmission company in Egypt.According to a press release sent on last Thursday, through this memorandum the two companies will jointly support mutually beneficial projects in the area of natural gas transmission.CIS Gaz participated, between October 9 and 11, with the support of the ...
World Bank: Decarbonizing the Romanian Economy – A Path to Prosperity and Improved Living Standards
Thursday, October 26, 2023
A new report released by the World Bank Group, titled the Romania Country Climate and Development Report ...
Energy Minister estimates that the number of prosumers in Romania will exceed 350,000 by 2030
Thursday, October 26, 2023
The number of prosumers in Romania will reach 236,000 until the end of 2025 and will surpass 350,000 until 2030, stated within the Climate Change a Summit 2023, the minister of energy, Sebastian Burduja.According to the minister, the future calls for financing through the Modernisation Fund as well as through the Programme ‘The Green House’ rely on the idea of energy storage for short, medium and long ...
Official: Romania to be 100% energy hub from 2027
Thursday, October 26, 2023
Romania will be a 100% energy hub from 2027 and must take advantage of its natural gas reserves and transform them into an alternative source of the future through compressed natural gas, Secretary of State with the Ministry of Energy Pavel-Casian Nitulescu told a specialist conference on Wednesday."The previous years, marked by a crisis in energy prices, by the armed conflict at the borders of the European Union, have led to a rethinking of the way member ...
ECITIM completes 13 photovoltaic parks in one year, following investment of more than 6 million euros
Thursday, October 26, 2023
ECITIM, a Romanian start-up in the energy field, completed 13 photovoltaic parks last year, which are fully operational and connected to the national electricity grid.The 13 photovoltaic parks were developed following an investment of more than 6 million euros, in collaboration and with the contribution of more than 500 partners and investors, the company said Tuesday.Established in April 2022, ECITIM thus becomes one of the most dynamic ...
Bloomberg: EU Green Goals Set to Cost Romania $356 Billion
Thursday, October 26, 2023
Romania needs to spend a massive $356 billion by 2050 to meet the European Union’s carbon-neutral targets, a sum its citizens are far from eager to pay, the World Bank said in its first climate and development report for an EU nation, highlighting the bloc’s difficult task in its transition to a greener economy, Bloomberg informs. The Balkan country has already reduced carbon emissions ...
EnergyMin Burduja: Romania has necessary funds to benefit from and boost energy revolution
Thursday, October 26, 2023
Romania has a great opportunity to be optimally positioned to benefit from this energy revolution, and investment funds worth 18 billion euros will help develop new projects, Energy Minister Sebastian Burduja said at the Climate Change Summit 2023 on last Thursday."We have, on the one hand, an extremely diverse energy mix - and you all know it - from the fact that a third or more of the country's energy comes from water, to the fact that ...