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Energy & Environment
Oil Terminal Constanta net profit grew by 83% in first semester
Thursday, August 18, 2022
Oil Terminal Constanta, the operator of the Black Sea state oil terminal, obtained a net profit of 17.8 million lei in the first semester of the year, 83% higher than in the similar period of 2021 (9.73 million lei). The net business figure of the company went up by about 39%, to 131.66 million lei, from 94.84 million lei in the first part of 2021. The company transported 4.36 million tons of crude oil, gas, diesel ...
Non-refundable financing for energy infrastructure investment projects available through Modernization Fund
Thursday, August 11, 2022
Non-refundable financing for energy infrastructure investment projects is available through the Modernization Fund, and the budget allocated for 2022 is 100 million euros, Minister of Energy Virgil Popescu said on Tuesday in a Facebook post."We invest in the development of the expansion and modernization of the electricity distribution network. Through the Modernization Fund we have non-refundable financing for energy infrastructure investment ...
Timisoara to have 20 solar-powered smart waste bins
Thursday, August 11, 2022
A total of 20 solar-powered smart waste stations are to be installed on the streets of Timisoara, a major city in western Romania. The high-capacity BigBelly smart bins have automated systems to compact waste and communicate their status with sanitation agents. Timisoara City Hall said in ...
In 10 years since commissioning, Brazi power plant has supplied 32-plus TWh into the grid
Thursday, August 11, 2022
Oil company OMV Petrom invested 530 million euros in the Brazi power plant, in what represents the largest greenfield private investment in Romania, the company informs.Since its commissioning in August 2012, the plant produced a total amount of more than 32 TWh of electricity.The Brazi facility is a state-of-the-art combined cycle plant that uses natural gas to produce electricity for the national grid and uses an advanced technology that allows ...
Minister Popescu : OMV Petrom and Romgaz must declare Neptun Deep as commercially viable by end of year
Thursday, August 11, 2022
Under a provision in the petroleum agreement for the concession of the Neptun Deep offshore natural gas perimeter in the Black Sea (amended in February), the concession operators of the perimeter (OMV Petrom and Romgaz) are obliged to officially declare, by the end of this year, that the discovered deposits have commercial value and can be exploited under conditions of economic profitability, Romania's energy minister Virgil ...
PV panels for the future of mountain grazing – a project of the Intelligent Energy Association
Thursday, August 11, 2022
Photovoltaic panels are already a well-known reality in the mountainous part of Valcea County. From Vaideeni up to Varful lui Roman and beyond, in the alpine areas, almost every house, small or large, has already installed solar energy production systems. The main reason for this is the absence of an electricity grid. For some years now, photovoltaic panels have been added to fossil fuel-fired ...
NuScale reactor passes last test of U.S. Nuclear Regulatory Commission
Thursday, August 4, 2022
The NuScale type reactor passed the last test of the U.S. Nuclear Regulatory Commission and will practically be the first small modular reactor (SMR) in the world fully authorized, including from the point of view of operational safety, so that Romania will have access to the newest technology, Minister of Energy Virgil Popescu announced on Wednesday."Practically, Romania will have access to the latest technology, both from the point of view of ...
Romgaz completes acquisition of Exxon's stake in Neptun Deep project in the Black Sea
Thursday, August 4, 2022
The National Natural Gas Company Romgaz SA completed the acquisition of Exxon's stake in the Neptun Deep project in the Black Sea, the Romanian company announced in a press release sent to the Bucharest Stock Exchange (BVB)."S.N.G.N Romgaz S.A. announces the completion of the acquisition transaction and the transfer of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited which holds 50% ...
Megalodon Storage build 7MW electricity storage facility north of Bucharest
Thursday, August 4, 2022
Megalodon Storage, a Romanian company controlled by Austrian investors, obtained a permit to build an electricity storage facility “with a maximum power of 7 MW,” located in the village of Caciulati in the commune of Moara Vlasiei, north of ...
Iohannis: European approach for voluntary gas savings, correct, it is wise to save where we can
Thursday, August 4, 2022
President Klaus Iohannis said on Friday that the European approach to voluntary savings of 15% on gas is the right one and stressed that the economy must be done "wisely" and "where possible"."It is obvious that we will face a complicated winter, given that the gas delivered by Russia is becoming less and less, the gas on the international market is becoming more and more expensive. However, the European approach to making voluntary savings of ...
OMV Petrom: More information needed on offshore gas law
Thursday, August 4, 2022
Romanian oil and gas firm OMV Petrom ROSNP.BX will need more information on a newly amended offshore gas law before it makes a final investment call on its Black Sea project in mid-2023, its chief executive said on Thursday. The introduction of a tax on offshore gas income in 2018 prompted OMV Petrom, controlled by Austria's OMV OMVV.VI, to put on hold its Neptun Deep deepwater project, where it ...
PM Ciuca: Rosia Poieni copper ore should be processed in Romania for a higher added value
Thursday, August 4, 2022
After a visit on last Thursday to Cupru Min SA Abrud, the company that exploits the Rosia Poieni deposit where 60% of Romania's copper reserves lie, Prime Minister Nicolae Ciua said that investment should be supported so that the copper ore can be processed in the country."Today, together with Alba County local officials, I visited Cupru Min. I wanted to start the working visit with this company because, from my assessment at the government ...
OMV Petrom Group reports net profit higher by over 370 pct on Q1 2022 v Q1 2021
Thursday, August 4, 2022
OMV Petrom has closed its first semester of this year with a growing net profit of 374%, to 4.646 billion RON, when comparing with the net result of 980 million RON, registered during the similar period of last year, according to the financial data published by the Bucharest Stock Exchange on Thursday.The income value from consolidated sales has gone up to 25.581 billion RON during the first half of this year, going up by 153% when comparing ...
Photon Energy to open three photovoltaic power stations in Romania
Thursday, August 4, 2022
Dutch renewable energy company Photon Energy will build three new solar farms with a combined capacity of 6 MWp, generating roughly 9.6 GWh annually for the Oltenia region. Located near the town of Calafat in Dolj County, the power plants will cover over 10.2 hectares of land and will house approximately 10,800 solar ...
Delgaz Grid launches an online application that will help improve the connection process
Thursday, August 4, 2022
Delgaz Grid launched the “Work programs” application, as the first stage of the implementation of the SharePoint-type online platform “Electricity partners”, with the objective of improving the connection process and reducing its duration, the company announced. By using the platform, which has been operational since July 1, the time to approve work schedules ...
Energy Minister: Romania has broad support from USA
Thursday, July 28, 2022
Romania is benefiting from broad support from the United States of America, says Virgil Popescu, the Minister of Energy, on his Facebook page, after a series of work meetings with representatives of U.S. Department of State, on Tuesday."I had a series of work meetings with several members of the State Department. I met with C. S. Eliot Kang, Assistant Secretary for the Bureau of International Security and Non-proliferation at the U.S Department of State. His ...
Nuclearelectrica inks first contract with Candu Energy to refurbish Cernavoda's Unit 1
Thursday, July 28, 2022
Nuclearelectrica announces the Unit 1 Refurbishment Project's advancement by signing the first contract with Candu Energy, member of the SNC-Lavalin group, and the Design Authority of Unit 1 and OEM (Original Equipment Manufacturer) for CANDU technology, in phase II of the project, according to a Nuclearelectrica press release issued on last Thursday .Under the contract, Candu Energy will provide engineering services for the elaboration of the technical ...
Romania's crude oil production goes down by 6.2% during first 5 months of 2022
Thursday, July 28, 2022
In the first five months of 2022 Romania produced 1,224 tons of oil equivalent (toe) of crude oil, down 80,500 toe (6.2%) from the similar period of 2021, according to data with the National Institute of Statistics (INS).Imports of crude oil in the same period amounted to 3.14 million toe, 242,700 toe (7.2%) below those of January-May 2021.According to estimates of the National Strategy and Forecast Commission (CNSP), Romania's 2022 crude oil ...
Electrica Furnizare installs almost 10,000 photovoltaic units for Romaqua Group Borsec
Thursday, July 28, 2022
The company Electrica Furnizare has announced on Monday that they will continue the partnership started last year with Albacher Brewery, belonging to Romaqua Group Borsec and says that they will build a new photovoltaic plant with an installed power of 4.6 MWp on the lands in the immediate vicinity of the Albacher Brewery in Sebes. The second stage of the project ...
OMV Petrom to pay out 2.5 bln lei in special dividend
Thursday, July 28, 2022
Romania's top oil and gas group OMV Petrom [BSE:SNP] said that its shareholders approved a proposal to pay out more than 2.5 billion lei ($513.64 million/506.7 million euro) in special dividend. The company will pay out a gross dividend of 0.045 lei per share, it said in a press release on Tuesday. As a result, the Romanian state, ...