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Energy & Environment
The European economies most affected in the event of a new sudden increase in energy prices: Romania, Hungary and the Czech Republic
Thursday, April 27, 2023
According to EY European Economic Outlook, euro area economic growth surprised on the upside, with stagnant GDP in Q4 2022 and likely modest growth in Q1 2023, quelling previous expectations of an imminent recession. Inflation has passed its peak (10.6% in October 2022) and begun to decelerate, driven by falling energy prices and base effects. In coming quarters, declining inflation will bring some ...
Transgaz and E.ON to consolidate Romania’s energy security in the context of Green Energy Transition
Thursday, April 27, 2023
Transgaz and E.ON Romania have signed on April 20th, in Bucharest, a “Memorandum of Understanding” planning to cooperate in order to consolidate Romania’s energy security by aligning and correlating the development strategies regarding the natural gas infrastructure with the European Green Deal provisions and other European legal provisions in the field, ...
Sunflower Hundred invests over 100 mln. euro in a solar panel factory in Dambovita
Thursday, April 27, 2023
Sunflower Hundred will invest in a first stage more than 100 million euro in Romania, in a solar panel factory with an annual capacity of 1 GW. The company from Hungary will build the factory of almost 15,000 square meters on a land of almost 5 hectares in Dambovita county, where solar panels with a maximum power of 600 and 410 W, respectively, will be produced. According to the investment plans, the ...
AEHR: Green Deal has reopened discussions on hydrogen in Romania
Thursday, April 27, 2023
Romania has been producing hydrogen for over 100 years, but this industry has been neglected and only after Green Deal the discussions on this topic have been resumed, said Ioan Iordache, president of the Romanian Hydrogen Energy Association (AEHR), at the ...
Keno enter the Romanian market with solar, heat pumps and installation systems
Thursday, April 27, 2023
Keno, one of the largest players in the renewable energy industry in Poland, has announced its official entry into the Romanian market. The Keno Group specializes in the production of solar panels, heat pumps, switchboards and isntallation systems. It is also the developer and manufacturer of Keno Home self-sustainable modular homes. The Polish company is already present in Germany, Great Britain, Norway, Poland, Hungary and the Czech ...
OMV hydrocarbon production reached 116,300 bep/day, în Q1, 2023
Thursday, April 20, 2023
In quarter 1, 2023, OMV Petrom had a hydrocarbon production of 116,300 bep/day, 4.13% lower than in the same period of 2022 (121,300 bep/day), according to data sent to Bucharest Stock Exchange. Crude production was 56,000 bep/day (minus 4%), while that of natural gas was 60,300 bep/day (minus 4.3%). In the first three months of the ongoing year, the total hydrocarbon sales volume was 111,400 bep/day, 4.4% lower ...
BCR coordinated up to USD 600 million syndicated credit facility for Rompetrol
Thursday, April 20, 2023
KMG International Group signed a new syndicated credit facility of USD 531.8 million, with the possibility to be increased up to USD 600 million. The loan will be used by KMG International – ROMPETROL RAFINARE S.A. (operator of Petromidia Navodari and Vega Ploiesti refineries), ROMPETROL ...
Population energy consumption down 18.2pct, in first two months of 2023
Thursday, April 20, 2023
Romania's energy resources in Romania increased by 3.3pct in the first two months of this year compared to the same period in 2022, while population consumption decreased by 18.2pct, according to data published on Thursday by the National Institute of Statistics (INS).According to the official statistics, primary energy resources fell by 6.4pct between January 1 and February 28, 2023, compared to the same period last year, totaling 5.158 million tons of oil equivalent ...
Schneider Electric doubles down on sustainable, digital industrial transformation at Hannover Messe
Thursday, April 20, 2023
Schneider Electric, the leader in the digital transformation of energy management and automation, will unveil an array of new technologies and software solutions at ...
Gas imports, down by almost 65% in the first two months of 2023
Thursday, April 20, 2023
Romania imported, in the first two months of 2023, a quantity of usable natural gas of 175,300 tons of oil equivalent (toe), 64.9% (-324,500 toe) less than in the same period last year, according to the data centralized by the National Institute of Statistics (INS).The domestic production of natural gas was, in the mentioned period, of 1.258 million toe, with 7.2% (84,000 toe) over that of the period January-February 2022.The National Strategy and Forecasting ...
KPMG Global Economic Outlook - H1 2023: Inflation and supply chain fears easing, but global economy continues to face uncertainty
Thursday, April 20, 2023
Sharp falls in inflation to leave behind some of the recent challenges for the global economy. Central banks approaching the end of the tightening cycle partly as a response to recent tensions in the banking system. Easing supply chain pressures and resilient labor markets to support recovery but uncertainty about the outlook remains high. KPMG forecasts world GDP growth of ...
Romgaz signs gas sale-purchase contract with Engie Romania of almost 853 mln RON
Thursday, April 13, 2023
National Gas Company Naturale Romgaz signed with Engie Romania a contract for the sale and purchase of natural gas in the amount of 852.8 million RON, according to a report submitted on Friday to the Bucharest Stock Exchange.The contract covers the period April 1 - November 1, 2023. Payment is to be made within 30 days of invoicing, and in case of delay the penalties will be 0.1% per day.With a history of more than 100 years, Romgaz has a vast ...
Nuclearelectrica completes operationalization of Feldioara Branch for the development of the integrated nuclear fuel cycle
Thursday, April 13, 2023
SN Nuclearelectrica SA announces that it has completed the operationalization of Feldioara Branch during January-March 2023, as part of its development strategy of the Romanian integrated nuclear fuel cycle. On December 28, 2022, the acquisition of some assets of the tehnical uranium concentrate processing stream from CNU Feldioara Subsidiary was completed, as well as the acquisition of a property ...
ElectricUP: By September there will be 1,800 completed projects
Thursday, April 13, 2023
The ElectricUP program was contracted last year, now we are in the implementation phase and by September we expect to have around 1,800 completed projects, which will add up to over 100 new green MW and over 4,000 charging stations for electric cars, stated on Thursday, in a conference on energy issues, Cristian Ilie, general director of the ...
Lektri.co: Romania has 27,590 electric vehicles and 3,300 charging stations
Thursday, April 13, 2023
Romania reached, in February 2023, 27,590 electric vehicles, after as many electric cars were registered last year as in the last 10 years combined, while the number of public chargers in the country barely exceeded the 3,300 mark, according to a Lektri.co study. The study indicates that, in the first two months of 2023, a total of 2,247 electric vehicles were registered. January, with 1,132 EVs, ...
FPPG advocates the strategic role of the oil and gas industry in Romania
Thursday, April 13, 2023
Total tax contributions paid by the oil and gas sector to the consolidated state budget amounted to 29.8 billion lei in 2021 and 21.5 billion lei in the first half of 2022, representing 7.8% and 9.7% of total state revenues, respectively, ...
Romgaz signed with Electrocentrale Bucuresti a contract for sale-purchase gas worth almost 291 million lei
Thursday, April 13, 2023
The National Company for Natural Gas Romgaz signed with Electrocentrale Bucuresti a contract for sale-purchase of natural gas worth 290,86 million lei, according to a report issued, on Friday to the Stock Exchange Bucuresti.The contract is about the period 1 April – 1 November 2023.With a history of more than 100 years, SNGN ...
Pixii and Elywhere – a partnership for the future of EV charging in a Circle K pilot project in Norway
Thursday, April 13, 2023
As the world moves towards cleaner and more sustainable energy solutions, the use of electric vehicles (EVs) is gaining popularity. Despite this trend, the widespread adoption of EVs is still challenged by inadequate charging infrastructure. The biggest obstacle to the widespread adoption of EVs is the insufficient grid capacity to support fast charging. The cost and time to upgrade old grid infrastructure to meet the needs of fast charging is a major ...
President Iohannis promulgates law on Cernavoda NPP Units 3 and 4 projects
Thursday, April 6, 2023
President Klaus Iohannis promulgated on Friday the law approving the signing of the Support Agreement between the Romanian state and the National Company "Nuclearelectrica" - SA for the Cernavoda Nuclear Power Plant (NPP) Units 3 and 4 Project.According to the explanatory memorandum of the normative act, "the purpose of the agreement is to establish the effective modalities of cooperation between the parties, by establishing commitments and obligations of the ...
EvoMAG aims to sell almost 2 million euros in the photovoltaic system category this year
Thursday, April 6, 2023
The online retailer evoMAG estimates, this year, sales of approximately 2 million euro in the category of photovoltaic systems, introduced on the site during the summer of last year. The most sold photovoltaic systems in Romania are of medium power, of about 5-6 KW. ‘evoMAG estimates, in 2023, sales of approximately 2 million euro in the category of photovoltaic systems, introduced on the site in ...