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Energy & Environment
ANRE : the production of gas in the Black Sea must start in two to three years, otherwise it will be too late
Thursday, May 13, 2021
The production of gas from the Black Sea must start in 2-3 years, otherwise it will be too late and there we will not be able to extract these resources,stated on Monday Zoltan Nagy-Bege, vice-chairman of the National Association for the Regulation in Energy (ANRE). He took part in the online conference on the issue of energy transition, organised by the Council of Foreign Investors (FIC).‘We cannot afford the ...
End electricity consumption, up 0.5% in Q1
Thursday, May 13, 2021
End electricity consumption in the first three months of 2021 was 14.207 billion kWh, by 0.5% higher than last year, according to data released by the National Institute of Statistics (INS) on Wednesday.Public lighting decreased by 11.9%, and household consumption increased by 9.6%. Electricity exports stood at 1.609 billion kWh, down 7.8 million kWh, while the technological consumption in networks and stations was 1.832 billion kWh, up 105.9 million ...
Foreign Investors' Eric Stab: EUR 70 billion investment in next 10 yrs in Romanian energy system
Thursday, May 13, 2021
The companies announced investments of over 70 billion euros in the Romanian energy sector in the next ten years, most of them in electricity generation, said on Monday Eric Stab, vice president of the Council of Foreign Investors (FIC) and CEO of Engie Romania, on his participation in an online conference on the energy transition, organized by the FIC."Most of this amount, 31 billion euros, will go to the electricity sector: 26 billion euros in production, ...
MOL GROUP Q1 RESULTS: STRONG QUARTER DESPITE THIRD WAVE OF PANDEMIC AND LOCKDOWNS
Thursday, May 13, 2021
MOL Group delivered Clean CCS EBITDA of USD 664mn in Q1 2021, 7% higher than last year in the same quarter, reflecting the stronger oil-and gas prices and the record high petrochemical margin Upstream EBITDA increased 66% year-on-year in Q1 to USD 307mn, driven by significantly higher oil and gas prices and by the ...
Tinmar Energy will take over energy consumers that remain without supplier in May
Thursday, May 13, 2021
The National Authority for Energy Regulation (ANRE) designated Tinmar Energy as provider of last instance in May for end clients that do not have electrical energy ensured from any other source, according to a document of the authority.ANRE also approved the prices for last instance provision in May.Thus, Tinmar Energy has the lowest price, namely 359 RON per MWh. The next provider is Electrica Furnizare, with a price of 401.40 RON per MWh, E.ON ...
BSTDB loan for Romania's offshore gas production development
Thursday, May 13, 2021
The Black Sea Trade and Development Bank (BSTDB) has granted a EUR 15 million loan to support the Midia Gas Development (MGD) project, which aims to develop the Ana and Doina offshore gas fields, the bank said in a statement.The loan is granted to three Romanian companies, namely Black Sea Oil & Gas SA, Petro Ventures Resources SRL and Gas Plus Dacia SRL.BSTDB's financing of the Midia Gas Development project is part of an existing financial ...
Transelectrica warns about concentration of wind farms in eastern Romania
Thursday, May 13, 2021
Romania’s state-owned power grid operator Transelectrica informs that no power generation capacities can be authorised for connection in the south-eastern part of the country (Dobrogea, but also its adjacent regions) until the projects aimed at increasing the grid capacity are completed. The statement, quoted ...
AOT Energy plans mixed PV-hydrogen plant in western Romania
Thursday, May 13, 2021
Swiss group AOT Energy, a global leader in energy trading, covering crude oil and derivatives, renewables, petrochemicals, natural gas, and LNG, intends to finance a mixed energy project in Arad, consisting of a photovoltaic park with an installed capacity of 45 MW and a 3 MW electrolysis hydrogen production plant. The project would be developed by a private (and insolvent) company on a 69-hectare land that belonged to CET Arad - the ...
EU Renewable Energy bill confirms the 38-40% target for 2030
Thursday, May 13, 2021
A draft EU future renewable energy directive confirms the EU bloc’s goal of obtaining 38-40% of energy from renewable sources by 2030, doubling the share of solar, wind and other renewable energy in Europe’s energy mix by the end decade, informs euractiv.com. European Commission’s revised Renewable Energy Directive will be presented on July, 14 as part of a wider package of laws aimed ...
Romgaz postpones for the third time the termination of the contract for the Iernut power plant project
Thursday, May 13, 2021
Romgaz gave the contractor another two weeks for settling the issues related to the compilation of the 430MW gas-fired power plant in Iernut, the company says in a note to ...
OMV Petrom will install at least 40 charging stations for electric cars in its fuel stations
Thursday, May 13, 2021
OMV Petrom will install at least 40 charging stations for electric cars in its fuel stations by the end of 2022, in partnership with Renovatio - the operator of the largest network of charging stations for electric vehicles in Romania. All gas stations will have at least one recharging station with a minimum power of 50kW, and at least 20 of them will have recharging stations with an installed capacity ...
Competition fined E.On 30 million lei for abuse of a dominant position on the market of technical verification and revision services
Thursday, May 13, 2021
Romania's Competition Council slapped a RON 30 mln (EUR 6.1 mln) fine on Delgaz Grid, a member of the German group E.ON, for abuse of a dominant position on the market of services related to natural gas distribution. According to the competition body's statement, the fine sanctions the company's abuse on the market of technical verification and revision services of natural gas ...
Volker Raffel is the new CEO of E.ON Romania
Thursday, May 13, 2021
Volker Raffel will be the new CEO of E.ON Romania starting with August 1, replacing Manfred Paasch, who will retire from the position held for almost two years at the helm of the company. To prepare the transition, starting with May 1, Volker Raffel became a member of the Board, being responsible for Corporate Affairs, Strategy, Legal and Compliance, as Deputy General Manager of E.ON ...
Daniel Burlan (CEO): we have a permanent dialogue with the EC which wants to make sure the restructuring effort is realistic
Thursday, May 6, 2021
The chairman of the Directorate of the Energy Unit Oltenia (CEO), Daniel Burlan considers that the company has an important market share, of over 20% and if the activity and installed capacity is reduced, he says that ‘we need to replace with something to cover the necessary in the system’. He spoke, in an interview offered to ...
The Oltenia Energy Unit finalised the acquisition of the certificates of CO2 for the energy produced in 2020
Thursday, May 6, 2021
The Oltenia Energy Unit, one of the biggest producers of energy in the country, announces that they finalised the acquisition of CO2 certificates allocated for the energy produced in 2020, the value being 315 million euro. ‘In the Plan for Restructuring and decarburization sent to the European Commission there were estimated values between 26 and 35 euro for one certificate. The state aid ...
The net profit of OMV Petrom dropped by 12% in Q1 at 573 million lei
Thursday, May 6, 2021
The net profit of OMV Petrom dropped by 12% in Q1 at 573 million lei, from 653 million lei during the similar period of last year, while the income from sales dropped by 20% at 4.86 billion lei, from 6.08 billion lei in Q1 of 2020, shows the report sent on last Thursday by the company BVB (The Bucharest Stock Exchange). The total debt dropped by 313 million lei on ...
Eurohold mandated J.P. Morgan AG as lead and exclusive arranger for structuring the debt financing related to the deal with CEZ Group
Thursday, May 6, 2021
Eurohold, the largest Bulgarian public holding and a leading independent financial and insurance group operating in the CEE/SEE/CIS region, has ...
EBRD invests €67 million in VPG NV €600 million green bond
Thursday, May 6, 2021
Logistics company aims to boost sustainability of operations EBRD financing earmarked for Hungary, Latvia, Romania and Slovak Republic The European Bank for Reconstruction and Development (EBRD) has successfully subscribed to a €67 million ticket ...
ENEL CONTINUES THE ENERGY MARKET INFORMATION CAMPAIGN AND LAUNCHES “EVERYTHING ABOUT LIBERALIZATION” VIDEO SERIES
Thursday, May 6, 2021
Enel Energie and Enel Energie Muntenia continue the consumer information campaign on the energy market liberalization and launch “Everything about liberalization”, a series of video interviews meant to answer to the most frequently asked questions received from customers on this topic. With the help of Enel specialists, consumers can find out what are the main changes in the ...
Bailiff, sent to trial after causing 1.5 million RON worth of damages to CE Oltenia
Thursday, May 6, 2021
Nicolae Gagiu, bailiff in Targu Jiu, was sent to trial by the prosecutors of the National Anticorruption Directorate (DNA) in a case in which he is accused of abuse of office and money laundering, after causing approximately 1.5 million RON worth of damages to the Oltenia Energy Complex (CE Oltenia).According to a release from the DNA, sent on Wednesday, prosecutors with the National Anticorruption Directorate - the Craiova Territorial Service disposed the ...