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Energy & Environment

Black Sea Oil & Gas to start extraction of offshore gas in Romania in November

Thursday, February 25, 2021

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Romania-based Black Sea Oil & Gas (BSOG) will begin extracting offshore natural gas in Romania in November, its chief executive said on Tuesday, but added further progress hinged on scrapping a disputed tax, according to Reuters.The additional tax on offshore projects is the last remnant of a series of price caps, taxes and export restrictions introduced two years ago by a previous centre-left government. The changes, most of which have since been ...

Romania to devise national strategy for hydrogen production

Thursday, February 25, 2021

 Romania is due to elaborate a national strategy on producing hydrogen energy in the next period, as it is one of the technologies on which the European Union is increasingly focusing for the future, Energy Minister Virgil Popescu told a specialized conference on Tuesday."At the moment, Romania does not have a hydrogen strategy. A team from the Ministry of Energy will work with specialists to devise a national hydrogen strategy. On the way here [the ...

EnerMin Popescu: First Romanian gas molecule from Black Sea perimeter to be drilled this year

Thursday, February 25, 2021

The first Romanian gas molecule in the Black Sea will be drilled this year by the Black Sea Oil&Gas company from the Aurora perimeter, and from the Neptune Deep area it will probably happen in 2025, Energy Minister Virgil Popescu said on Monday evening on private B1 TV broadcaster."I think we're going to get more out of the Black Sea than we can consume, but we have until 2025 probably when the first gas molecule from Neptune Deep could be extracted, and ...

Fondul Proprietatea confirms the sale of its whole stake in Nuclearelectrica

Thursday, February 25, 2021

Fondul Proprietatea (FP), the biggest investment fund in Romania, has sold its entire stake in state-controlled nuclear power producer Nuclearelectrica ...

Delgaz Grid: Investments of almost 3 billion lei in natural gas infrastructure in Romania, in last 15 years

Thursday, February 25, 2021

 Delgaz Grid has invested almost 3 billion lei in modernizing the natural gas infrastructure in the last 15 years, and the number of customers served has increased by 670,000, according to a company press release, sent on Monday.The announced investments were mainly aimed at modernizing the natural gas distribution network that currently supplies more than 1,080 localities in 20 counties located in the north of the country. In this sense, over 5,600 km of ...

Transgaz concludes historical contract with Gazprom

Thursday, February 25, 2021

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The historical contract for gas transport through the T3 transit pipeline on Romania’s territory to third countries, concluded with Gazprom Export LLC (GPE), which was valid until December 31, 2023 has ceased before expiry by agreement of the parties , Transgaz has announced in a press release today. According to the announcement, the Romanian party will not suffer financial losses.   Romanian state company Transgaz ...

Restart Energy invests $ 30 Million in A 45 MW solar project in Salaj County

Thursday, February 25, 2021

Restart Energy, an independent supplier of electricity and natural gas operating on the local market, intends to invest approximately 30 million dollars in developing a 45 MW solar project in Sarmasag locality in Salaj county. The purchased project is in the “ready to build” phase, and the money will be invested in the park’s construction. The company estimates that the park will start to function in the first quarter of 2022. This 45 ...

"Steaua Romana" refinery, one of oldest in country, enters bankruptcy

Thursday, February 25, 2021

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The "Steaua Romana" Refinery, from southern Campina municipality, one of the oldest in the country, founded 126 years ago, enters bankruptcy at almost 8 years since filing for insolvency, the Court's decision not being definitive yet.According to the Court portal, the Bucharest Tribunal ruled on February 8, the bankruptcy and dissolution of the debtor company SC Rafinaria Steaua Romana SA, a decision that may be appealed in 7 days since the ...

SN Nuclearelectrica SA: Publication of the preliminary financial statements related to the financial year ended on 31.12.2020

Thursday, February 25, 2021

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SN Nuclearelectrica SA ("SNN") announces that it has published, in compliance with the financial calendar for 2021, the preliminary and unaudited individual financial statements for the financial year ended December 31, 2020. SNN registered a net profit of 684,709 thousand lei, an increase of 27.8% compared to 2019, an increase of 3.4% of ...

The European Commission confirms that they received complaints in connectio to the deregulation of the electricity market in Romania

Thursday, February 18, 2021

The European Commission confirms that they received complaints in connection to the process of deregulation of the market in Romania and at the same time, sent to the Romanian authorities a letter on 26th January regarding the lifting of export restrictions imposed to Hidroelectrica, stated on Wednesday for AGERPRES a spokesperson of the European Commission.‘The Commission confirms that they received complaints in connection to this topic, which they ...

Romania imported 962 million cu.m of gas from Gasprom in 2020

Thursday, February 18, 2021

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Gasprom group exported to Romania 962 million cu.m of natural gas last year, on the drop by 3.2% against 994 million cu.m in 2019, according to data released by Gasprom on Monday.   According to those data, Romania is Gasprom's one of the smallest clients, while Hungary imported from Gasprom 8.637 cu.m of natural gas, Moldova 3.04 billion cu.m, Bulgaria 2.28 cu.m and ...

OMV Petrom signs partnership with Naftogas to search for gas in Ukraine

Thursday, February 18, 2021

OMV Petrom and Naftogas signed a memorandum to identify joint products for the exploitation and production of natural gas in Ukraine, according to the Naftogas press release posted on the Ukrainian website.    “Last year, Naftogas worked to identify new opportunities to explore and develop new gas areas in Ukraine. Once winning the license in the Yuzivska ...

OMV Petrom remains cautious in planning investments this year

Thursday, February 18, 2021

OMV Petrom (SNP), the Romanian company with the biggest investment budget, earmarked capital expenditures of only RON 2.9 billion (under EUR 600 million) for this year, half the budget planned for 2020, but only marginally below the actual investments realized last year.   This is bad news for OMV Petrom's ...

Transelectrica's 2020 net profit up 18pct y-o-y

Thursday, February 18, 2021

 Romania's national electricity transmission company Transelectrica reported a 2020 net profit of 114 million lei, up 18% from 2019, according to a press statement released on Monday.In 2020, the company's gross profit increased by 60 million lei, from 107 million lei in January-December 2019, to 167 million lei in January-December 2020, mainly on cutting all operational costs, including depreciation, as well as on efficient management of the resources ...

Datacor aims to improve the sustainability and energy consumption for local data centers

Thursday, February 18, 2021

Datacor, the Romanian integrator of intelligent communications and infrastructure solutions, aims to offer more sustainable and energy efficient solutions for data centers in 2021 and to encourage companies to align with new technologies for cooling ...

Non-reimbursable financing of 10,5 million euros for energy efficiency with Servelect

Thursday, February 18, 2021

The energy engineering and services company Servelect, from Cluj-Napoca, has helped attract non-reimbursable financing of over 10 million euros for its clients. “We have attracted some 10,5 million euro non-reimbursable financing for our customers, mainly through the Large Infrastructure Operational Program (POIM) and EEA and Norwegian grants”, said Iulia Bargauan, Business Development ...

Public consultation on future EU rules for reducing methane emissions

Thursday, February 18, 2021

The Commission has launched a public consultation on aspects of methane emissions in the energy sector. The objective of this 12-week consultation is to feed into the Commission preparation of proposals for new EU ...

The Council of Competition has authorised the taking over of Crucea Wind  Farm and Steag Energie Romania by Hidroelectrica

Thursday, February 11, 2021

The Competition Council has authorised the trading in which Societatea de Producere  a Energiei Electrice in Hidrocentrale Hidroelectrica SA has taken over the companies Crucea Wind Farm SA and Steag Energie Romania SRL,according to a press release of the competition authority.Hidroelectrica SA is one of the main producers and suppliers of energy in Romania, as well as supplier of system technologial services.The main activity of Crucea Wind Farm SA is the ...

Opinion: What trends will mark the energy sector in 2021?

Thursday, February 11, 2021

Energy efficiency is important for companies in many fields of activity: industrial production, distribution and logistics, construction, and real estate, etc. The performance of energy efficiency depends on the quality of the equipment used, but also on the ability to maintain them in good working order, and here digital technologies and sensors are helpful, shows Lucian Anghel, founder and CEO of EneryPal-TimePal Romania, in an opinion.    Another important ...

Minister Virgil Popescu: the offshore law will be amended in 2021

Thursday, February 11, 2021

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The amendment of the Offshore law will  be made during this year, but the exploitation of gas in the Black Sea cannot start before 2024-225, according to the minister of energy, Virgil  Popescu.‘The exploitation of gas in the Black Sea cannot start before 2024-2025 if the decision for investments is made this year. What the operators in the Black Sea want is the amendment of the Offshore law so that it boosts investments andwe will do it, during this ...

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