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Energy & Environment
Reuters: Eight countries, including Romania, say gas deserves help as EU readies 'green recovery' fund
Thursday, May 28, 2020
Eight European countries have urged the European Union to include natural gas in future funding, as the bloc’s executive prepares to unveil its plan for a green economic recovery from the coronavirus pandemic. The European Commission presented on Wednesday its trillion-euro proposal for the bloc’s next budget, alongside a coronavirus Recovery Fund to mobilise investments in line with its climate goals, Reuters correspondent ...
EP Wind Project (Rom) Six Ltd sues Romania at WB’s arbitrage court
Thursday, May 28, 2020
Cyprus-based offshore EP Wind Project (Rom) Six Ltd, which owns the 80MW Chirnogeni wind farm in Dobrogea, commissioned in 2013, has filed a complaint against the Romanian state at the World Bank’s ICSID arbitration court, according ...
Transgaz becomes associate member of Romanian Investor Relations Association in Romania
Thursday, May 28, 2020
Transgaz, a strategic company and the technical operator of the national gas transmission system has become an associate member of the Romanian Investor Relations Association (ARIR), the non-governmental organisation made the announcement on Tuesday, in a press release."A new valuable member, the 20th, strengthens now the ARIR community. Alongside the largest companies in our economy, Transgaz is also among the most traded 10 companies on the stock exchange, a ...
Energy-intensive companies to get EUR 291 mln state aid
Thursday, May 28, 2020
Some 170 Romanian electricity-intensive companies will get state aid worth around EUR 291 million, related to their electricity consumption in ...
Renewable hydrogen, key to unlocking the complete decarbonisation of European industries
Thursday, May 28, 2020
Eight industry leading companies, SolarPower Europe and WindEurope have launched “Choose Renewable Hydrogen”, a joint initiative highlighting the crucial role of renewables to ensure a sound economic recovery, aligned with the European Green Deal. Signatories called on the European Commission to make the right choices for Europe’s upcoming energy system integration and hydrogen strategy, harvesting the full potential of renewable electricity to fully ...
Rompetrol, growing retail activities in the first four months of 2020
Thursday, May 28, 2020
KMG International Group continued for the first four months of the year to consolidate and develop its retail activities in the Black Sea region, by opening 12 new fuel stations, but also expanding the range of products and services offered. “Rompetrol makes sustained efforts to always satisfy the needs of customers in Romania and the Black Sea region, but also to offer new services and products. During this difficult period, we managed to ...
ANRE keeps energy prices at a regulated level until the year-end; SMEs are included
Thursday, May 28, 2020
ANRE issued a new draft order “for the approval of the Methodology for establishing regulated tariffs and prices applied by suppliers of last resort to final customers for the period July 1 – December 31, 2020.” The project is under public debate. Following the crisis generated by the coronavirus, ANRE ordered “the identification, as a matter of urgency, for a determined period of time, respectively until 31 December 2020, of ...
Hidroelectrica has appointed the consultant for the IPO; the value of the contract, 950,000 euro
Thursday, May 28, 2020
Hidroelectrica and STJ Advisors Group Limited signed the contract for the provision of consulting services for the “Equity Advisor” capital market, the winning bid being worth 950,000 euros. According to a statement from Hidroelectrica, the contract was signed on Tuesday, May 19, and the services offered by STJ Advisors Group Limited aim at training and assistance in carrying out the Hidroelectrica IPO. The contract was awarded following a ...
Coal production in Valea Jiului, at a historic minimum
Thursday, May 21, 2020
The quantity of coal taken from the mines in Valea Jiului dropped at about 650 tons per day, which means a quarter of what was produced at the beginning of the year, as all four exploitations in the Energy Unit Hunedoara (CEH) are facing problems, some of them dealing with opening new working places in the mine. ‘ The four mines in Valea Jiului produce daily a quantity of almost 650 tons in one mine’ stated the special manager of CEH Cristian Rosu. The CEH ...
Coal industry will never recover after coronavirus pandemic, say experts
Thursday, May 21, 2020
The global coal industry will “never recover” from the COVID-19 pandemic, industry observers predict, because the crisis has proved renewable energy is cheaper for consumers and a safer bet for investors. EURACTIV’s ...
Free to Power Purchase Agreements from June 1, for new investments in electricity generation
Thursday, May 21, 2020
Romanian Government has adopted an Emergency Ordinance to amend the Electricity and Natural Gas Law no. 123/2012 so as to allow producers to conclude “bilateral contracts outside the centralized market, at negotiated prices”, for electricity from new energy production capacities, put into operation after 1 June 2020. The National Energy Regulatory Authority – ANRE is called to issue the necessary regulations for the implementation of ...
Gas imports drop by 6.2 pct in Q1 of 2020, production reduces by 3 pct
Thursday, May 21, 2020
Romania imported, in the first three months of 2020, 629,000 tonnes of oil equivalent (toe) in usable natural gas, by 6.2 pct less (41,700 toe) than the similar period of 2019, according to data centralized by the National Institute for Statistics (INS).The internal natural gas production was, in the mentioned period, around 2,052 million toe, being 3 pct (64,300 toe) less than in the January-March 2019 period.According to the draft of Romania's Energy ...
Romgaz to invest EUR 3.2 bln by 2026
Thursday, May 21, 2020
Romania's state-controlled gas company Romgaz plans investments worth RON 15,7 billion (EUR 3.2 bln) by 2025, according to the company's investment strategy to be endorsed by shareholders on June ...
Hidroelectrica sees lower revenues and profit in Q1
Thursday, May 21, 2020
Both the revenues and net profit of Hidroelectrica, the largest electricity producer in Romania, contracted by some 14% in the first quarter of the year (Q1) compared to the same period in 2019. The evolution was due to the lower prices on the regulated segment of the electricity market, announced Fondul Proprietatea, a minority shareholder of the ...
Rompetrol Rafinare, gross turnover of 929 million dollars, in Q1 2020
Thursday, May 21, 2020
Rompetrol Rafinare reported a gross turnover of USD 929 million in the first quarter of the year, while the net result was negative of USD 87.8 million, down from the negative net result in the same period last year of minus USD 14 million, company data released on Thursday shows. "The first quarter of 2020 was marked by drastic drops in the oil and gas market, caused by restrictive measures imposed with the trigger of the COVID-19 pandemic. Rompetrol ...
Enel, no longer interested in selling Romanian assets
Thursday, May 21, 2020
Italian utility group Enel has abandoned the plans to sell minority stakes in its Romanian subsidiaries, according to sources familiar to the deal quoted ...
Jade Power Trust ponders selling its operations în Romania
Thursday, May 21, 2020
Canadian company Jade Power Trust has set up a special committee to explore several "strategic options," including a possible sale of its operations in the renewable energy sector in Romania. Another option would be to attract a strategic ...
Electrica Group ended the first quarter with a consolidated net profit of 80 million lei
Thursday, May 21, 2020
Electrica Group obtained, in the first quarter of 2020, a consolidated net profit of 80 million lei, registering an increase of 121 million lei, compared to the same period of the previous year, informs the company. Consolidated EBITDA (profit before interest, taxes, depreciation and amortization) reached the value of 224 million lei, being higher by 150 million lei compared to the value of the first three months of last ...
Romgaz confirms interest in Neptun Deep offshore project
Thursday, May 14, 2020
Romanian state-controlled gas company Romgaz still intends to take over part of the participation currently owned by ExxonMobil in the Neptun Deep offshore gas perimeter alongside OMV Petrom, general manager of Romgaz, Adrian Volintiru, confirmed in an interview ...
Engie Romania to invest over EUR 200 mln in gas distribution network
Thursday, May 14, 2020
Engie Romania, formerly GDF Suez Romania, has earmarked over RON 1 billion (over EUR 200 million) for investments in the rehabilitation, systematization, optimization, and expansion of its gas distribution ...