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Energy & Environment

IMF Blog: Soaring Metal Prices May Delay Energy Transition

Thursday, November 11, 2021

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Anna Akhalkatsi (World Bank): COP26 must be about ambition and action

Thursday, November 11, 2021

The COP26 reunion is underway for another few days, in Glasgow, and all the huge assembly of world leaders and experts might be well summarized in two words, believes Anna Akhalkatsi, World Bank Country Manager for Romania. In an exclusive top-level conversation proposed by Energynomics, she spoke about ambition and action, but also about the potential that Romania has in terms of transition to a green, sustainable ...

Biden, Iohannis announced the construction of cutting edge civil nuclear technology plant in Romania

Thursday, November 4, 2021

US President Joe Biden and Romanian President Klaus Iohannis announced în Glasgow plans to build a “first-of-a-kind” small modular reactor (SMR) plant in Romania in partnership with U.S. NuScale Power, ...

U.S. Announces $25 Million to Support Access to Clean Nuclear Energy

Thursday, November 4, 2021

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Today at the UN Climate Change Conference, Under Secretary of State for Arms Control and International Security Bonnie Jenkins announced the United States’ commitment of $25 million in support towards expanding access to clean nuclear energy.  The announcement, also called a “Nuclear Futures Package,” represents efforts from across the U.S. government, and includes ongoing programs and projects under development ...

World leaders join UK’s Glasgow Breakthroughs to speed up affordable clean tech worldwide

Thursday, November 4, 2021

The UK Prime Minister is launching an international plan to deliver clean and affordable technology everywhere by 2030 at COP26 on Tuesday, informs a press release by the UK Embassy in Bucharest.   Over 40 world leaders have backed and signed up to the new Breakthrough Agenda, including the US, India, EU, China, developing economies and some of the countries most vulnerable to climate change – ...

Virgil Popescu : 1.62 billion euro is allocated for energy in PNRR

Thursday, November 4, 2021

 The budget allocated to energy in PNRR is 1.62 billion euro, the highest sum, of 515 million euro, to be directed to the infrastructure of gas distribution from renewable sources and the production capacities of green hydrogen, according to the interim minister of energy, Virgil Popescu.The minister presented on Friday on Facebook the investments in energy towards which the money allocated through PNRR goes. It is about new ...

FPPG : the gas imports could grow at 50%, at the level of 2030, due to the lack of the projects in the Black Sea

Thursday, November 4, 2021

  The natural gas in the Black Sea represents the solution for the energy independence of Romania and the lack of these projects it is estimated that gas imports could grow by 50% at the level of 2030, according to the representatives of the Federation of Employers in Oil and Gas ...

Romgaz will pay USD 1 bln for ExxonMobil’s stake in Black Sea gas project

Thursday, November 4, 2021

Romanian state-controlled gas producer Romgaz (BVB ticker: SNG) will pay USD 1.06 bln to take over a 50% stake in the Neptun Deep offshore gas project in the Black Sea from the U.S. group ExxonMobil.   The company’s board approved the deal on Tuesday, November 2, and the General Shareholders Meeting will vote on it on December 9.   Romgaz will ...

State of the Energy Union 2021: Renewables overtake fossil fuels as the EU's main power source

Thursday, November 4, 2021

The Commission adopted its State of the Energy Union Reports for 2021, taking stock of the progress that the EU is making in delivering the ...

Energy regulator approves increase of gigacalorie price throughout Romania

Thursday, November 4, 2021

The National Energy Regulatory Authority (ANRE) has approved the increase in the price of the gigacalorie delivered by all the CET (thermoelectric power plants)'s in the country, the biggest increases being in northwestern Oradea, western Arad and eastern Barlad, according to an ANRE press release.This is not the final price paid by the population, but represents only the tariff at which the plant delivers the heating agent, to which are added the transport ...

Electrica raises RON 750 Million for funding the expansion on electricity value chain

Thursday, November 4, 2021

Societatea Energetica Electrica S.A., one of the leading players in Romania’s electricity distribution and supply market, today announced that it has signed a RON 750 million financing deal with Erste Group Bank AG and Raiffeisen Bank România S.A. Electrica will employ the loan, which corresponds to roughly EUR 150 million, to finance the implementation of its strategy for the period 2019-2023, which also envisages expanding on the value chain of ...

Coal used by Paroseni Power Plant to be replaced by pellets made by Arbaflame

Thursday, November 4, 2021

 The Minister of Energy, Virgil Popescu, and Bjorn H. Knappskog, general manager of Arbaflame, signed a letter of intent on Tuesday to transform the activity of the Paroseni Power Plant into a sustainable one from the point of view of CO2 emissions, in accordance with the objectives assumed by the Romanian Government for achieving the energy transition targets.According to a press release from the Energy Ministry, the collaboration with Arbaflame, a Norwegian ...

Total available energy resources in 2020 record 6.2 drop over 2019

Thursday, November 4, 2021

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The total available energy resources in 2020 recorded a drop of 6.2 pct compared to those in 2019, while compared to the previous year, the production of primary energy has dropped by 8.9 pct, energy resource imports increased by 11.9 pct, the gross internal energy consumption dropped by 2.6 pct and the final energy consumption recorded a decrease of 1.5 pct, shows the data of the National Institute for Statistics (INS), published on Tuesday.The total available ...

Crude oil imports up over 10 pct in first eight months of 2021

Thursday, November 4, 2021

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Romania has imported, in the first eight months of 2021, 4.837 million tons of oil equivalent (toe) in oil, by 452,000 toe (10.3) more than the quantity imported in the similar period of 2020, according to data centralized by the National Institute for Statistics (INS).The oil production exceeded 2.085 million toe, by 4.7 pct (102,400) lower than in the previous year.According to estimates of the National Strategy and Forecast Commission, oil ...

OMV Petrom Group resultsi for January – September and Q3 2021

Thursday, November 4, 2021

Highlights Q3/21 Group In Romania, demand for our products broadly recovered to pre-COVID levels - Clean CCS Operating Result at RON 1.3 bn, 135% higher, returning to pre-crisis level - Clean CCS net income attributable to stockholders at RON 1.0 bn, up 112% - Cash flow from operating activities at RON 2.3 bn, 35% higher - CAPEX at ...

PKN Orlen rejects rumours about plans to take over OMV's stake in Petrom

Thursday, November 4, 2021

Polish oil group PKN Orlen is not in talks with the Austrian OMV regarding the purchase of the latter's assets in Romania, said Robert ?leszy?ski, M&A director at PKN Orlen.   He thus denied rumours circulated by the Austrian daily Kurier about Orlen considering an offer to purchase shares in Petrom from OMV. OMV owns 51% in OMV ...

Datacor expands services into the solar energy sector

Thursday, November 4, 2021

* The Romanian IT&C integrator is now providing turnkey Solar Photovoltaic Solutions for companies looking to use clean energy   Datacor, the Romanian integrator of intelligent communications and infrastructure ...

Nuclearelectrica signed a contract with SDEE Electrica for the  wholesale sale of electricity worth 27.35 million lei

Thursday, October 28, 2021

The National Society Nuclearelectrica signed with Societatea Distributie Energie Electrica Electrica Romania a contract worth over 27.35 million lei for the wholesale sale of electricity for the period 1st January – 30th April 2022 according to a report of SNN sent to the Stock Exchange Bucuresti.According to the contract, SDEE Electrica must constitute guarantees worth 14.108 million lei. If the guarantee is not paid, this means that the contract does not ...

Energy spot markets in Romania and Bulgaria have been coupled

Thursday, October 28, 2021

The markets for the following day, spot, in Romania and Bulgaria, have been coupled, the first delivery day being Thursday, October 28, according to a press release sent by Transelectrica on Wednesday.The new successful coupling is the result of the cooperation between the Designated Operators of the Electric Energy Market (OPEED) and the Transport and System Operators (OTS) in Bulgaria and Romania, namely IBEX EAD, OPCOM, ESO EAD and CN Transelectrica, along with the ...

European Energy takes over 90MW wind farm project in Romania

Thursday, October 28, 2021

Danish renewable energy company European Energy AS (EE) took over Electra Norte Eolian, the developer of one of the oldest Romanian wind farm projects, with a planned capacity of ...

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