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Energy & Environment

Homes of the future will have almost zero energy consumption. 4 steps for decarbonizing houses

Thursday, June 3, 2021

Daikin, the manufacturer of heating and cooling equipment with over 90 years of experience in the field, contributes to reducing carbon emissions in residential buildings, with the main goal of increasing the share of equipment using renewable energy for heating and cooling to 40% by 2030. In addition, decarbonisation of homes supports the European Union’s environmental impact reduction targets of at least 53% less net greenhouse gas emissions by 2030. In this context, ...

BSTDB funds energy efficiency upgrade of Romanian households

Thursday, May 27, 2021

The Black Sea Trade and Development Bank (BSTDB) is providing a loan of up to EUR 10 million to Garanti BBVA Consumer Finance, to finance energy improvements and resource efficiency of residential buildings in Romania. The three-year facility will be on-lent to Romanian homeowners to invest in upgrades that will reduce the high energy and water consumption, install renewable energy generation, and improve their waste ...

EY Study: Financial hurdles could be the biggest barrier to achieve net zero targets

Thursday, May 27, 2021

In 2020, global renewable energy capacity investments grew 2% to US$303.5b, the second-highest annual figure recorded to date despite the impact of the global COVID-19 pandemic. However, the 57th EY Renewable Energy Country Attractiveness Index (RECAI) ...

EnergMin, Hidroelectrica exec discuss developing green hydrogen production technologies

Thursday, May 27, 2021

Energy Minister Virgil Popescu visited on Friday the Lotru Ciunget Hydroelectric Power Plant in Valcea County, to discuss with President and CEO of Hidroelectrica Bogdan Badea the development of green hydrogen production technologies, according to a Hidroelectrica press statement.Also on Friday, Popescu called on the National Research and Development Institute for Cryogenic and Isotopic Technologies (ICSI) in Ramnicu Valcea, where he discussed a strategy to ...

ENGIE Romania buys operational photovoltaic park of 5.46 Mwp

Thursday, May 27, 2021

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ENGIE Romania announced on Thursday the purchase of an operational photovoltaic park with an overall installed capacity of 5.46 MWp, from a company owned by two German investors. The company operates now 113 MW of renewable energy in wind and photovoltaic capacities.   “The photovoltaic park is located in the south of Romania, at Nenciulesti, Teleorman county. It was commissioned in 2014 and had ...

Zhu Qiang, Huawei: Oil and gas industry needs digital transformation

Thursday, May 27, 2021

For Huawei, the oil and gas industry is one of the most important market segments, said Zhu Qiang, Senior Solution Manager Huawei EBG Global Energy Unit, at the ...

Future gas-fired power plants in Romania must also be able to use hydrogen

Thursday, May 27, 2021

Gas power plant projects for which European money is wanted must be able to use hydrogen as fuel, said Dan Dragan, secretary of state in the Ministry of Energy, according to e-nergia.ro.   “I want to send a message – that all the gas power plants that will apply for financing in the next period must be prepared for the use of hydrogen mixed with methane gas. We want in Romania to have a ...

CIS GROUP enters the Republic of Moldova through CIS GAZ TRADING

Thursday, May 27, 2021

CIS GROUP, one of the most important players in the Romanian natural gas industry, is expanding its activity in the Republic of Moldova through subsidiary CIS GAZ TRADING, following obtaining the license to supply natural gas and electricity from the National Agency for Energy Regulation.   In 2021, the CIS company holding celebrates 30 years since its establishment and it plans to reach 25% of its ...

Rompetrol Refining results, improvement by six times in profit, in the first three months of 2021

Thursday, May 20, 2021

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Rompetrol Rafinare, member company of the KMG International Group, managed, in the first three months of the year, a significant improvement of the financial indicators, compared to those recorded in the similar period of 2020 - the beginning of the COVID-19 pandemic in Romania and internationally. Furthermore, the company's results are influenced by the volatility in the market environment and the effects caused by the COVID-19 pandemic, the company says în the ...

The price of energy on the stock exchange has increased significantly, with more than 150% in April 2021 against the previous year

Thursday, May 20, 2021

The price of electricity on the spot market of the stock Exchange OPCOM ( the market for the next day – PZU) had an average of 309 lei/MWh in April 2021, with 150.6% more than the price registered during the same month of last year, lnamely 123 lei/MWh, according to the monthly report posted on the site of the stock exchange operator.   The total value of tradings was 765.7 million lei, up by 218% against April 2020 ( ...

The net profit of Oil Terminal Constanta has increased by 58% in Q1

Thursday, May 20, 2021

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The Oil Terminal Constanta company, the state-run operator of the oil terminal at t he Black Sea has recorded in Q1 this year a net profit of 6.34 million lei, up by 58% from 4 million lei during the similar period of 2020 and the turnover increased by 7%, at 47.82 million lei, from 44.63 million lei in Q1 of 2020.   The turnover made in Q1 2021 is 47,827.652 lei. Against the same period of the previous year there was an ...

OMV Petrom closes the divestment of the production assets in Kazakhstan

Thursday, May 20, 2021

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* The transaction is part of OMV Petrom’s strategy to focus on the Black Sea region   OMV Petrom, the largest energy company in Southeastern Europe, announces the closing of the sale transaction for its 100% shareholding in Kom-Munai LLP (KOM) and Tasbulat Oil Corporation LLP (TOC) in Kazakhstan to MAGNETIC OIL LIMITED. KOM and TOC hold the production licenses for ...

Romania's crude oil imports increase 8.6% in Q1

Thursday, May 20, 2021

Romania imported, in the first three months of 2021, a quantity of crude oil of 2.077 million tons of oil equivalent (toe), 164,200 toe (8.6%) higher than that imported during the similar period of 2020, according to data with the National Institute of Statistics (INS).Crude oil production totaled 773,100 toe, 6.8% (56,500 toe) lower than the previous year.According to the draft Energy Strategy, published on the website of the Ministry of Energy, it is ...

Electrica sees 28% profit drop in Q1 2021

Thursday, May 20, 2021

Electrica (EL), a group of electricity distribution and supply companies 49% controlled by the Romanian state, saw its net profit drop by 27.5% in the first quarter of 2021 compared to the same period of 2020 to RON 58 mln ...

Romgaz sees lower sales and lower profit in Q1

Thursday, May 20, 2021

Romanian state-controlled gas producer Romgaz (SNG) recorded a 7.2% drop in revenues in the first quarter of 2021 compared to the similar period of 2020 to RON 1.33 bln (EUR 270 ...

Nuclearelectrica ups profit by 9% in Q1

Thursday, May 20, 2021

Nuclearelectrica (SNN), Romania’s state-controlled nuclear power producer, recorded a net profit of RON 234 mln (EUR 47.5 mln) in the first quarter of 2021, up 9% compared to the same period of last ...

Romania to add 6.9GW of green power capacities by 2030

Thursday, May 20, 2021

Romania’s target of 30.7% green electricity, to be met by 2030, involves the addition of new renewable energy generation installations with a total capacity of 6.9GW, Ministry of Energy’s state secretary Dan Dragan said in a conference organised by ...

Mazarine Energy will invest in geothermal projects

Thursday, May 20, 2021

Many companies in the petroleum industry have already embarked or are considering embarking into geothermal developments. Mazarine Energy is among such companies that have an interest for such projects in Romania, said Spencer Coca, president of ROPEPCA, at the conference “Oil&Gas and ...

Sale of CEZ's Romania assets, designated "Transaction of the Year" at Energy CEO Forum&Awards Gala

Thursday, May 20, 2021

The sale of Romanian assets concluded between the CEZ Group and the funds administered by Macquarie Infrastructure and Real Assets (MIRA) after 18 months since the start of the divestment process received the award "Transaction of the Year" during the Energy CEO Forum & Awards Gala 2021, informs the company in a press release sent on Tuesday."2020 was a year full of challenges which the CEZ team transformed into opportunities and into promises kept to ...

Romgaz estimates a gross profit of 1.14 billion lei this year

Thursday, May 13, 2021

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Romgaz, the gas producer, one of the most profitable state-run companies, estimates for this year a gross profit of 1.14 billion lei,at total revenue of 4.34 billion lei and decided to have investments of 1.292 billion lei. Romgaz Medias (  the parent company) is also single shareholder with Romgaz – Filiala de Inmagazinare Gaze Naturale Depogaz Ploiesti.   Thus, ...

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