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Energy & Environment
Romania finally set to make the most of its vast Black Sea gas reserves
Thursday, April 21, 2022
Punitive Romanian taxes on offshore gas production, as well as an export ban, look set to be revoked within weeks, https://emerging-europe.com/ ...
Virgil Popescu: Energy development strategy thought for passage from coal to natural gas
Thursday, April 21, 2022
Energy minister Virgil Popescu says that “the entire energy development strategy is thought for the passage from coal to natural gas”, and explained that after Romania will increase its capacities for natural gas extraction “there will be some reserve coal units for crisis situations.” “We ...
Eurostat: Romania is the EU country with the lowest dependence on natural gas imports
Thursday, April 21, 2022
In 2021, ...
Electrica approves EUR 150 mln investments this year and new strategy
Thursday, April 21, 2022
The Board of Directors of the Romanian energy supply and distribution company Electrica Group (BVB: EL), with the Romanian state as the largest owner, approved a RON 750 mln (EUR 150 mln) investment plan ...
EnergyMin Popescu: Offshore law was and is a priority for me and my colleagues in PNL
Thursday, April 21, 2022
The offshore law was submitted to the Parliament on Friday and will be adopted as a matter of urgency, and the changes will unblock the investments and thus ensure Romania's energy independence and reduce its dependence on Russian gas, according to the Minister of Energy, Virgil ...
Total and OMV Petrom get two-year extension to explore offshore perimeter in Bulgaria
Thursday, April 21, 2022
The Bulgarian energy ministry said it extended by another two years the oil and natural gas exploration permit granted in 2012 for the 1-21 Han Asparuh offshore block in the Black Sea, where Romanian oil and gas company OMV Petrom holds a 42.9% interest,seenews.com ...
Prime Minister Ciuca: We will have the possibility to have the first gas from the Black Sea at the middle of the year
Thursday, April 21, 2022
Premier Nicolae Ciuca stated that the extraction of the first natural gas from the Black Sea could take place this year, saying that over the period to come investments in the Neptun Deep start as well as those connected to the exploitation of the gas from the ...
Romania's Jan - Feb gas imports up by almost 17 pct, output down 6 pct
Thursday, April 21, 2022
Romania's gas imports in the first two months of 2022 stood at 500,400 tons of oil equivalent (toe), up 16.9 percent YoY, show figures centralized by the National Institute of Statistics (INS).The domestic gas production over January - February 2022 amounted ...
Fondul Proprietatea evaluates Hidroelectrica at EUR 10 bln
Thursday, April 21, 2022
Hidroelectrica, the largest electricity producer in Romania and the largest state-owned company, is valued at RON 50 bln (EUR 10 bln) by the minority shareholder Fondul Proprietatea in the most recent evaluation report, published on April 15 at the Bucharest Stock Exchange, ...
Deloitte Romania assists Romgaz in getting 325M euro loan needed to take over Exxon shares
Thursday, April 21, 2022
Deloitte Romania has assisted Romgaz in obtaining a 325-million-euro loan from Raiffeisen Bank for the partial financing of a takeover of Exxon shares in the Black Sea gas project."Deloitte Romania has assisted Romgaz, the largest natural gas producer in Romania 70% owned by the Romanian ...
Virgil Popescu: “We can import LNG from Israel, via Egypt”
Thursday, April 14, 2022
Romania could start importing liquefied natural gas (LNG) from Israel via Egypt in order to reduce its dependence on Russian gas, Romania's energy ministry said on Wednesday. "This morning we had a very good dialogue with the representatives of NewMed Energy, a Delek group company, which exploits the largest offshore gas field in Israel. We told them that we were interested in diversifying our supply ...
Around 1, €4 billion from the modernization Fund to finance strategic projects in the energy sector
Thursday, April 14, 2022
The Investments Committee has recently approved the money from the Fund for Modernisation for important investment projects, the total sum approved being almost 1.4 billion euro, announced the minister of energy, Virgil Popescu, on his Facebook page.According to the minister, it is about eight projects lodged by the Energy Unit Oltenia for the production of energy from renewable sources, worth 670.802 million ruto out ...
Gas suppliers mandated to stock 30 pct of their clients' consumption
Thursday, April 14, 2022
The National Energy Regulation Authority (ANRE) has approved new conditions regarding the level of minimal stock of natural gas that holders of supply licenses for natural gas have the obligation to constitute in the period April 2022 - October 2022, shows a release sent, on Wednesday."Given the fact that Government Emergency Ordinance no. 27/2022 has entered into force on March 22, 2022, ANRE has approved in emergency regime the new provisions that ...
E-DISTRIBUTIE INVESTED 500,000 EUROS IN PHOTOVOLTAIC POWER PLANTS WITH STORAGE INSTALLED IN THREE PRIMARY SUBSTATIONS
Thursday, April 14, 2022
The photovoltaic power plants generate an annual production of over 330 MWh and cover all the necessary consumption of the three primary substations in Banat, Dobrogea and Muntenia The projects integrate renewable energy plants with 100 kWh battery storage, increasing grid resiliency The three primary substations provide electricity for ...
OMV Petrom's hydrocarbon output shrinks by 13% y/y in Q1
Thursday, April 14, 2022
OMV Petrom (BVB: SNP) said that its crude oil and natural gas production declined by 13% and 12%, respectively, in the first quarter of 2022 compared to the same period in 2021, according to a report filed on Friday at the Bucharest Stock Exchange. The decline is in line with the natural depletion of the deposits, yet perhaps slightly steeper compared to the medium-term ...
OMV Petrom ceased importing Russian crude oil
Thursday, April 14, 2022
OMV Petrom (BVB: SNP), the largest energy company in Romania, no longer buys crude oil from Russia for consumption at the Romanian refinery, company officials ...
Bulgaria, Romania buy Greek LNG receiving capacity
Thursday, April 14, 2022
Greek gas transmission system operator DESFA has granted requests from Bulgaria and Romania for access to its Revithoussa LNG import terminal, SEENews reported. Bulgaria-based trader MET Energy already has a contract for unloading 142,500 metres3 of LNG in May, the report said, citing Greek daily newspaper Kathimerini. Revithoussa LNG is central to Greece's ...
CE Oltenia receives 895 million euros for of photovoltaic, gas-fired power plants
Thursday, April 14, 2022
The Oltenia Energy Complex receives 895 million euros for the construction of photovoltaic and gas-fired power plants of a total capacity of 2,060 MW from the Modernisation Fund, according to a statement by the company released on Friday.The Investment Committee of the Modernisation Fund approved Romania's application for funding future gas-fired power plants of the EC Oltenia and also confirmed funding for the photovoltaic power plants.These are ...
KGHM seeks partnership with Romania's Nuclearelectrica
Thursday, April 14, 2022
Polish metal mining company KGHM is preparing a partnership with Romania's nuclear company Nuclearelectrica focused on developing small modular nuclear reactors (SMR). "Small nuclear reactors are one of KGHM's priorities. Romania is a country that has been developing SMR projects and has been using nuclear energy for 30 years. We are initiating cooperation with Nuclearelectrica, a meeting with the Secretary of State for Energy, and a ...
Hidroelectrica plans to take over several regional power suppliers
Thursday, April 14, 2022
Romanian state-controlled power producer Hidroelectrica asked shareholders' permission to hire a consultant to help it in the process of taking over up to three electricity ...