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Energy & Environment
Romania to reach 90 pct gas storage stock by the end of summer season
Thursday, August 1, 2024
Romania will reach 90 percent gas storage filling by the end of the summer season, and this will help for winter preparations, Franck Neel, OMV Petrom Executive Board member, responsible for Gas & Power, told a press conference on Wednesday.We know that the winters are no longer so cold. The trend is for winters to be milder, but there will certainly be days with peak consumption, when consumption will be very high, but not over the entire winter season. Anyway, we do ...
Competition Council Reviews OMV Petrom’s Acquisition Of 3 Renewable Energy Companies
Thursday, August 1, 2024
The Competition Council is analyzing the transaction by which OMV Petrom SA intends to take over, together with RES Terranet Holding SRL, the companies Tenersolar Park SRL, Enerintens Solar SRL and CIL PV Plant SRL. The OMV Petrom Group is active in the energy industry, from the exploration and production of crude oil and natural gas, to the refining and distribution of fuels, and further to the generation of electricity, as well as the trading of ...
61 million euro syndicated loan for Premier Energy Group from Vista Bank & Optima Bank
Thursday, August 1, 2024
Vista Bank (Romania) and Optima Bank (Greece) granted a syndicated loan of 61 million euros for Premier Energy Group, according to a statement sent on Tuesday."The Facility was granted by Vista Bank and Optima Bank, both as Financiers, while Vista Bank also acted as Principal Intermediary, Agent, Guarantee Administrator and Bank-administrator of the accounts. The facility of 61 million euros will be used by Premier Renewable Invest Co. SRL to finance the acquisition ...
PPC Renewables is building a new 140 MW wind farm in eastern Romania
Thursday, August 1, 2024
A new wind power plant, with an installed capacity of 140 MW, in Deleni commune, eastern Vaslui county, is added to the organic development of the portfolio of renewable energy sources of PPC Renewables, reaching the construction phase, the company informs in a press release.The new wind farm is designed with 23 6.1 MW GE Vernova turbines and will be connected to the grid by the end of 2025. Given the high wind potential of the region, the estimated ...
Hydrocarbon production of Romgaz, up by 4.6% in first semester of 2024
Thursday, August 1, 2024
Romgaz recorded in the first half of this year a total production of hydrocarbons of 16.12 million barrels of oil equivalent (boe), 4.6% higher than in the same period last year, according to a report submitted on Friday, by Bucharest Stock Exchange.The amount of gas extracted, gross series, was 15.99 million boe (+4.3%), and condensate production was 136,000 boe (plus 50.5%).Natural gas from production capitalized totaled almost 2.245 billion cubic meters, down ...
Greenpeace Romania files complaint to have Neptun Deep environmental permit cancelled
Thursday, August 1, 2024
Environmental advocacy NGO Greenpeace Romania filed a preliminary complaint with the Constanta Environmental Protection Agency (APM), requesting the cancellation of the environmental permit for the Neptun Deep offshore gas project, the organization announced in a release on Friday.The move comes as a result of APM Constanta's decision to release the permit despite the issues highlighted by Greenpeace and which include: the absence of an adequate assessment of the long-term ...
Jan - May coal production drops almost 21 pct YoY, imports shrink 17.8 pct
Thursday, August 1, 2024
Romania's net coal production over January - May 2024 amounted to 858,700 million tons of oil equivalent (toe), 20.9 percent down (-203,800 toe) from the same period of 2023, according to data released by the National Institute of Statistics (INS).In the reporting period Romania imported 87,100 toe of net coal, by 18,800 toe (-17.8 percent) less y-o-y.The National Strategy and Projection Commission (CNSP) indicates that by 2026 the dynamics of coal production ...
Bilfinger develops cooperation with Black Sea Oil & Gas in Romania under framework agreement
Thursday, August 1, 2024
Bilfinger, the leading global industrial services provider, has won a series of engineering projects under the universal framework agreement that has been closed with Black Sea Oil & Gas company, https://www.ogv.energy/ reads. It is the first new offshore gas development project in the Black Sea built in over 30 years that managed to extract ...
Eurowind Energy completes the transformation station of the 60 MW Teius solar park
Thursday, August 1, 2024
The Danish developer and operator of wind, photovoltaic and hybrid energy projects Eurowind Energy announces the completion of the electrical transformation station and the start of the installation of the photovoltaic panels within the Teius park. Due to become operational in mid-October 2024, the project in Alba county will produce approximately 103.59 GWh annually, contributing to the reduction of carbon emissions by 37,125 tons ...
Gas imports increase by 11.8% in first five months of 2024, production up by 1.7%
Thursday, July 25, 2024
Romania imported, in the first five months of 2024, a quantity of usable natural gas of 661,400 tonnes of oil equivalent (toe), 11.8% higher (+69,900) compared to the similar period of last year, according to data centralized by the National Institute of Statistics (INS).The domestic production of natural gas totaled, in the mentioned period, 3.206 million toe, being 1.7% more than from January - May 2023 (+52,200 toe).According to the estimates ...
Crude oil production in Romania down 3.8pct five months into 2024
Thursday, July 25, 2024
In the first five months of 2024, Romania produced over 1.132 million tonnes of oil equivalent (toe), down 44,200 toe (-3.8%) y-o-y, according to data with the National Institute of Statistics (INS).Imports of crude oil totalled 2.568 million toe, down 896,400 toe from January-May 2023 (-25.9%).According to the latest Energy Balance Forecast, published by the National Commission for Economic Strategy and Forecast (CNSP), crude oil production ...
Romania aims to roll out 5 GW of energy storage by end 2026
Thursday, July 25, 2024
*Romania is aiming to have at least 2.5 GW of energy storage installed by the end of next year and to exeed 5 GW only a year later, https://www.pv-magazine.com/ reads. According to Romanian Minister of Energy Sebastian Burduja, the ...
Energy association official: Investments in energy system - crucial for boosting its resilience
Thursday, July 25, 2024
Investments over the next five years in all the components of the national energy system are crucial for boosting its resilience, executive director of the Federation of Energy Utility Employers' Associations (ACUE Federation) Daniela Daraban declared on Friday at the end of the Energy Command meeting held at the Victoria Palace of Government under the coordination of Prime Minister Marcel Ciolacu."The conclusions of today's meeting were correct. The ...
We currently exceed 1,250 MW production in coal-fired power plants, EnergyMin Burduja says
Thursday, July 25, 2024
The energy consumption is, at this time, over 8,200 MW and it is important that it should be covered as much as possible from its own production, according to the Minister of Energy, Sebastian Burduja.He emphasized that the production in coal-fired power plants exceeds 1,250 MW."These days we have been looking for all possible solutions to increase the production of electricity, given we have high levels of consumption. At this time, the consumption is ...
Primary electricity generation to grow at average annual rate of 2.7 pct between 2024-2027
Thursday, July 25, 2024
The production of primary electricity will grow at an average annual average rate of 2.7% between 2024 and 2027, according to the latest Energy Balance Forecast published by the National Commission for Strategy and Prognosis (CNSP).According to the cited source, hydropower production in 2024 will have an estimated value of 1.469 million toe, down by 8.3% compared to 2023 under unfavorable climatic conditions, and will return to an increase of more than 4% in 2025 under ...
E.ON: Half of Romanians would like to purchase heat pumps
Thursday, July 25, 2024
Although the heat pump market is at an early stage in Romania, more than 50% of Romanians would consider purchasing such equipment in the next year if they had the necessary financing and if the state granted subsidies. This is one of the conclusions of a sociological research carried out for the despre-energie.ro platform, a project supported by the companies Delgaz Grid and E.ON. Of the respondents, almost 74% state that they have little or no ...
Retele Electrice Companies get loans of 1 bln. lei from a consortium led by EBRD
Thursday, July 25, 2024
Retele Electrice companies, part of the PPC Group, signed credit agreements worth one billion lei with the European Bank for Reconstruction and Development (EBRD), Banca Transilvania, BCR and ING Bank Romania, as part of a syndicated financing in which the EBRD former consortium leader. The funds will be used to refinance and finance the investment programs of electricity distribution operators Retele Electrice Muntenia (REM), Retele Electrice Banat (REB) and Retele Electrice Dobrogea ...
Rompetrol Rafinare: Modern system implemented in the Delayed Coking Unit
Thursday, July 18, 2024
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, has recently finalized modernizing the Delayed Coking Unit (Cx) of the Petromidia refinery, by implementing a new drilling/cutting system of petroleum coke, but also the automation of the production flow. The total value of the investment was about 13 million dollars. “Through these works, we manage to bring the Delayed Coking Unit to a new technological stage, an ...
Jan - May primary energy resources drop 5 pct YoY
Thursday, July 18, 2024
Romania's primary energy resources over January 1 - May 31, 2024 were 5 percent down year-over-year, with the country's main primary energy resources in the reporting period amounting to 12.801 million toe, by 669,800 toe less compared to the year-ago period, shows data released by the National Institute of Statistics (INS) on Monday.The country's electricity resources were 2.4 percent down from the same period of 2023.The domestic energy output amounted to ...
Attractive regulatory framework can secure grid investments to 2030
Thursday, July 18, 2024
Distribution operators should invest at least EUR 6 billion of their own resources over the next five years in the development and adaptation of electricity grids, but in order to draw such money, a regulatory framework is needed that allows the recovery of current funding costs through distribution tariffs, from the capital market, according to the Federation of Associations of Energy Utilities Companies (ACUE)."Electricity distribution operators are ready ...