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Energy & Environment

EnerMin: Increase in gas price is directed by Russia, price to drop after Nord Stream 2 inauguration

Thursday, September 9, 2021

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 The increase in natural gas prices is directed by the Russian Federation, through Gazprom, stated, on Friday, the Minister of Economy, Virgil Popescu, on Facebook."My opinion, regarding gas, is that after Nord Stream 2 is operational we will see a drop in price," claimed Virgil Popescu.On the subject of electricity prices, the Minister of Energy mentioned that the producers that don't use fossil fuels are presently selling energy at the marginal price on the ...

OMV Petrom celebrates 20 years since its listing on the Bucharest Stock Exchange

Thursday, September 9, 2021

OMV Petrom's capitalization has increased more than 15 times. OMV Petrom is the largest Romanian company on the Bucharest Stock Exchange. In the last 20 years, the SNP stock has offered investors an average dividend yield of approximately ...

DeepRock Minerals of Canada buys another gold concession in Romania

Thursday, September 9, 2021

Canadian mining company DeepRock Minerals, specialized in the acquisition, exploration and development of mineral perimeters, has entered into a purchase agreement to acquire the second perimeter in Romania, in the Apuseni Mountains, for the exploration of a prospective gold exploration property, the company announced.   According to the terms of the deal, DeepRock is paying upon signing CAD 275,000, will issue 9 mln ...

Govt. looks for solutions to tackle rising energy prices

Thursday, September 2, 2021

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The Government won’t intervene to cap the energy price, and Romania needs energy independence, prime minister Florin Citu said on Tuesday, August 31, during a meeting dedicated to the recent increases in domestic energy prices. He added that the Government would take the “toughest measures” if it discovers that the inefficiency of state-owned energy producers causes the higher energy prices paid by Romanian end consumers.   Energy prices have become a ...

AFEER proposes the cut or waive of VAT and excise duty on electricity and gas

Thursday, September 2, 2021

The Association of Electricity and Gas Suppliers ( AFEER ) asks specialists “from the entire energy sector to participate in consultations related to developments, as well as decisions regarding the Romanian energy market” and proposes reducing or waiving VAT on electricity and gas and exempting upon payment of the excise duty, it is shown in a release sent to Energynomics.   In this regard, AFEER sent an open letter to the competent ...

Minister Popescu: ANRE and ANPC will start controls at certain natural gas suppliers

Thursday, September 2, 2021

The National Energy Regulatory Authority (ANRE) and the National Authority for Consumer Protection (ANPC) will start a series of controls on natural gas suppliers that have concluded firm price contracts for a year and which now notify household consumers that they want to change the price, announced the Minister of Energy, Virgil Popescu.   “There is a speculative price trend at certain suppliers, we also discussed with ANRE and they will start, ...

E-DISTRIBUtIE BANAT INVESTED OVER 12 MILLION LEI FOR THE MODERNIZATION OF THE ORASTIE ZAVOI TRANSFORMER STATION

Thursday, September 2, 2021

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All the equipment of the station hes been replaced with modern one, in order to improve the quality of the electricity distribution service for consumers in Orastie and in surrounding localities The transformer station is integrated in the remote control system, and includes equipment for video surveillance, fire and access ...

Photovoltaic energy producer MW Green Power Export lists a new issue of bonds on the Bucharest Stock Exchange

Thursday, September 2, 2021

The second issue of MW Green Power Export bonds starts trading today, August 31st, on the Multilateral Trading System of the Bucharest Stock Exchange. The company attracted a total of over RON 7,4mn through the two bond issues listed at the Bucharest Stock ...

Holcim Romania opens new ecological concrete plant in Ilfov County

Thursday, September 2, 2021

Holcim Romania Group has announced the opening of a new ecological concrete plant in Tunari, Ilfov County. The company reaches 19 such stations across the country and continues its commitment to sustainability. ECOPact will be manufactured within the Tunari unit, the first range of green concrete in the industry, with 30% less CO2 emissions.   “Through this new ecological concrete plant in Tunari, we are one step closer to our customers and ...

Potential of Black Sea renewable energy to be considered at COP 26

Thursday, September 2, 2021

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Romania's Association for Clean Energy and Fighting Climate Change will hold a roundtable conference jointly with the European Commission to discuss the potential of renewable energy in the Black Sea at COP 26, the association's chairman, Razvan Nicolescu, said this Monday."We have gladly accepted the European Commission's proposal to hold an event in Glasgow together. It is an honour for a young organisation like ours. I am glad that we will bring Romania's situation to ...

Hidroelectrica and OMV Petrom boost Fondul Proprietatea’s profit in H1

Thursday, September 2, 2021

Fondul Proprietatea (FP), the biggest investment fund in Romania, recorded a net profit of RON 1.8 bln (EUR 367 mln) in the first half of this year, compared with losses of RON 849 mln in the same period of 2020.   The main contributors to the profit were the net unrealized gains from the fund’s investments in OMV Petrom (RON 244 mln) and Hidroelectrica (RON 910 mln). Oil and gas group OMV Petrom (SNP), which is listed on the ...

BSOG could start gas deliveries from Black Sea by the end of this year

Thursday, September 2, 2021

Black Sea Oil and Gas (BSOG), a Romanian company backed by US investment fund Carlyle, could start gas deliveries from Romania’s Black Sea section at the end of this year when work on the Midia Gas Development project will be finalized. French group Engie, one of the top gas suppliers in the Romanian market, has already signed a contract to take half of the gas extracted by BSOG from the Midia perimeter.   The project’s ...

Start in a new edition of the Rompetrol program "Ready for Career"

Thursday, September 2, 2021

KMG International (Rompetrol) launched the XXI edition of the program "Ready for Career", which will take place from September 1 to October 31. For 20 years, the Group has been supporting the training of specialists for the oil industry, and this year 49 youngsters selected following complex recruitment processes will participate in training programs.   The recruitment process started in May, and out of a total of over 150 candidates, 49 high school ...

Simtel Team built two electric power stations for Kaufland Romania

Thursday, August 26, 2021

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Simtel Team (SMTL), a Romanian company for engineering and technology listed on the AeRO market of the Stock Exchange Bucuresti announced on Tuesday that they built for the retailer Kaufland Romania two electric power stations which meant the installation of over 1,300 photovoltaic panels. The company has as a project the construction of 3.5 MW of photovoltaic power stations, which mean over 9,300 photovoltaic ...

EBRD - shareholder in VMTG, the subsidiary of Transgaz in the Republic of Moldova

Thursday, August 26, 2021

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The National Gas Transmission Company "TRANSGAZ" SA reports that the EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD) has become, starting with the 25th of August 2021, a shareholder with a 25% interest in the share capital of the gas transmission company VESTMOLDTRANSGAZ SRL, the subsidiary of TRANSGAZ in the Republic of Moldova, which owns and operates the gas transmission pipeline ...

Minster Tanczos, on anti-plastic ordinance: Control goes to producer and importer, not the trader

Thursday, August 26, 2021

 The control, based on the emergency ordinance prohibiting the placing on the market of certain disposable plastic products, goes to the producer and the importer, not to the trader, the Minister of Environment, Waters and Forestry Barna Tanczos told a Wednesday's press conference held at Victoria Palace."The control will be carried out, after the publication of the emergency ordinance, on the production capacities and on the imports. The stocks ...

Renewable energy to be more expensive without smart infrastructure

Thursday, August 26, 2021

Wind and solar energy cannot be used at full capacity without a smart electricity transmission and distribution infrastructure, which will lead to low profitability and a higher price for consumers, said Corneliu Bodea, president of the Romanian Energy Center (CRE) and CEO of Adrem, within the "New technologies in energy" project. "A sound policy for the development of a country's energy infrastructure should be ...

The price of natural gas is rising, amid declining production and more expensive imports

Thursday, August 26, 2021

Romania’s natural gas production fell below 9 billion cubic meters (bcm) in 2020, to its lowest level since 1970, since when oil giant BP has been publishing its annual report on the global energy market and resources ...

Money from the state for the energy bills of 400,000 vulnerable consumers

Thursday, August 26, 2021

The adoption of the law on the vulnerable consumer is one of the PNL’s priorities in the new parliamentary session, says Eugen Tapu-Nazare, vice-president of the PNL group in the Romanian Senate. If the law is approved in Parliament in September, vulnerable consumers will receive support for energy and gas bills starting this fall, said ...

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