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Energy & Environment

Michal Osladil, IBM: Energy companies in the CEE region increasingly use artificial intelligence

Thursday, July 23, 2020

There are currently a number of disruptive changes in the energy sector, considers Michal Osladil, Energy & Utilities Leader, IBM CEE, referring mainly to the decarbonization process. “Decarbonization is changing the structure of electricity generation, even dramatically, for many companies in the EEC region,” said Michal Osladil at the 2020 Energy Strategy Summit. “Countries in this region, such as Poland or ...

Has the coronavirus killed the oil sands industry?

Thursday, July 23, 2020

The spectacular collapse in oil prices caused by the coronavirus pandemic has brought the costliest – and most polluting – oil projects such as tar sands to a standstill, a development some analysts say could be definitive, euractiv.com reads. Even though oil prices have partly recovered from the April market crash, they have not returned to pre-crisis levels yet and market analysts wonder if they ever ...

Elena Popescu ( Energy Strategy Summit): PNIESC will be subject to strategic environmental assessment before having a final form

Thursday, July 23, 2020

Currently, the Ministry of Economy and Energy (MEEMA) is working to coordinate the National Energy Strategy with the National Energy Climate Plan (NECP), explained at the Energy Strategy Summit Elena Popescu, Director, Transition and Renewable Energy Policy Directorate, MEEMA. “The text of the Energy Strategy had to be revised accordingly. It will be sent to the Ministry of Environment and will be available on the ...

Ringhel raised over 500,000 euros from investors using the SeedBlink platform

Thursday, July 23, 2020

Ringhel, one of the main local partners in the field of energy digitization, raised over 500,000 euros from investors in two days, using the SeedBlink platform. Initially, Ringhel had set out to attract 400,000 euros worth funding during a 30-day campaign, but given the large interest proven by the investors, the company decided to move to over-subscription so that as many investors as possible can join this investment project. The campaign will most ...

Transgaz opens a 300 mln. lei credit line at Banca Transilvania

Thursday, July 23, 2020

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Transgaz signed a new credit agreement with bank guarantees with Banca Transilvania on Thursday. The 300 million lei credit line will be used to ensure “the necessary working capital for the current activity of the company”, says Ion Sterian, general manager of Transgaz. “As you know, Transgaz has started a competitive selection procedure of a financial institution for contracting a credit facility worth up to 300 million lei, without ...

Gas grid operators unveil plan for European hydrogen infrastructure ‘backbone’

Thursday, July 23, 2020

A group of eleven European gas infrastructure companies from nine EU member states presented on Friday (17 July) a plan to create a dedicated hydrogen pipeline network of almost 23,000 km by 2040, to be used in parallel to the natural gas grid, euractiv.com informs. The “European hydrogen backbone” was presented in ...

CEZ will stop the process of share selling in Romania if the bids are not attractive enough

Thursday, July 16, 2020

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The Czech utilities group CEZ is not pressed by time in the process of withdrawing from the market in Romania and could stop the sale of local shares if they do not get the price they want, stated on last Friday Ondrej Safar, country manager CEZ Romania, in a meeting with the press.‘I want to assure everybody again that we behave as a long-term investor and at this point of the process of withdrawal from Romania, we continue to behave as a long term ...

EU unveils blueprint for a more efficient energy system

Thursday, July 16, 2020

The European Commission on Wednesday (8 July) unveiled its “energy system integration strategy” which aims to link different energy carriers, infrastructure and consumption sectors together in order to boost renewables and reduce carbon emissions, euractiv.com reads. The strategy aims to achieve deep decarbonisation at the “lowest possible costs” by minimising waste and using the relative strengths of different energy carriers ...

Romgaz, Hidroelectrica must enter supply market for home consumers, otherwise Gov't takes measures

Thursday, July 16, 2020

Minister of Economy, Energy and the Business Environment, Virgil Popescu, stated on Tuesday evening, at private broadcaster Digi 24 that he is disappointed by state companies Romgaz and Hidroelectrica because they are not entering the supply market for home consumers and warned that he will take measures if nothing changes in their commercial policy."I am very disappointed by Romgaz, which is a gas producer and did not understand until now that if it remains at ...

Prime Minister sets up Strategic Coordination Committee for implementation of Cernavoda CNE 3 and 4 Units Project

Thursday, July 16, 2020

Prime Minister Ludovic Orban has ordered the setting up of the Strategic Coordination Committee for the implementation of Cernavoda Nuclear Power Plant (CNE) Units 3 and 4, by a decision published on Tuesday in the Official Journal.The committee will be chaired by the Minister of Economy, Virgil Popescu. The advisory body also includes Minister of Public Finance Florin Citu, presidential adviser Cosmin Marinescu and Ionel Danca, Head of the Chancellery of the ...

EconMin Popescu: At this time no political consensus in Parliament to amend Offshore Law

Thursday, July 16, 2020

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Parliamentary political parties have not reached a consensus until now, so that the Offshore Law is amended and investors in the Black Sea start extracting gas, said the Minister of Economy, Energy and the Business Environment, Virgil Popescu, in an interview for Agerpres.He repeated his previous statements, namely that the Orban Government does not intend to modify the Offshore Law, and this will only be done through Parliament.The Minister recalled ...

Statistics: 11.2 pct drop of primary energy resources in first five months

Thursday, July 16, 2020

Primary energy resources dropped by 11.2 pct in first five months, compared to the same period of 2019, and those of electric energy reduced by 3.8 pct, shows the data published on Monday by the National Institute for Statistics (INS).According to the statistic, the main primary energy resources, in the first five months, totaled 12.787 million tons of oil equivalent (toe), 1.6 million toe less than in the same period of last year.Furthermore, the ...

Gazprom to deliver 2.7 bcm of gas per year to Romanian fertilizer producers

Thursday, July 16, 2020

Romanian businessman Ioan Niculae, the owner of the Interagro group currently under insolvency, says the Russians helped him when local gas producer Romgaz did not want to sell him gas, and local banks refused to finance ...

Fitch confirms Transgaz rating at "BBB minus", with stable outlook

Thursday, July 16, 2020

Fitch Ratings has confirmed at 'BBB-' the Long-Term Issuer Default Rating (IDR) with a Stable Outlook for Romanian company SNTGN Transgaz SA, informs a release of the rating agency.The rating of Transgaz mainly reflects its solid business profile as a concessionaire and operator of the gas transmission network in Romania as well as the agency's expectation of a progressive contraction of its international gas transit business derived from traditional ...

OMV Petrom’s sales decline less than anticipated in Q2

Thursday, July 16, 2020

OMV Petrom's fuel sales decreased by 17% year-on-year to 1.39 million tonnes in Q2, according to a preliminary report published ahead of the complete quarterly financial reports expected for the end of July. The decline is surprisingly milder than the 45% plunge anticipated by the company's CEO. "On the fuel side, in the second quarter, we see a 45% decrease and a 20% decrease for the whole year," said Christina Verchere, CEO of ...

Cristian Badescu: Romania has to diversify its resources and to increase its energy capacities

Thursday, July 16, 2020

The zero emission target for the European Union in 2050 can only be achieved through a set of combined measures in the field of energy efficiency, new renewable energy production and new technologies that will allow us, at least for a transitional period, to use fossil fuels, said at the Energy Strategy Summit 2020, Cristian Badescu, Special Representative for Energy Security in the ...

Timmermans congratulates Romania on the decision to sign the statement regarding the use of PEE in the post-Covid period

Thursday, July 9, 2020

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The vicechairman of the European Commission Frans Timmermans congratulates Romania on the decision to sign the joint statement through which the Ecological European Pact (PEE) becomes the engine for the post Covid recovery according to the Facebook page of the ministry of environment.‘Vicechairman Timmermans said in the letter addressed to  minister Costel Alexe as an answer to the signing of the statement, that the PEE objectives will continue to guide ...

Electrica paid in 2019 contributions worth 1.098 billion lei to the state and local budgets

Thursday, July 9, 2020

Electrica paid in 2019 contributions worth 1.098 billion lei to the state and local budgets, according to the sustainability report published on Tuesday, which shows that from the total of 375.16 tons of dangerous waste generated a group level, 48% were put to value and recycled, and 42% are temporarily stored for elimination during the next year or being put to value. The group Electrica published the fourth Sustainability Report about activity in ...

E.ON invested 1.7 billion euro in Romania, over the last 15 years for the modernization of the distribution grids and the development of energy solutions

Thursday, July 9, 2020

Over the last 15 years, the German group E.ON invested 1.7 billion euro in Romania, in the modernization of the distributions grids and for the development of energy solutions, so that starting with 2005 since they got on the Romanian market, there have been modernized over 8,290 km of natural gas grids ( half of the total length of the grid taken over at privatization) and almost 6.450 km of electricity grid.  ‘Starting with 2005, since ...

Transgaz needs working capital

Thursday, July 9, 2020

Transgaz, the operator of the national natural gas transmission system, intends to borrow RON 300 million (over EUR 60 mln) for two years to finance the necessary working capital, according to an announcement published on the company's ...

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