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Energy & Environment
OMV Petrom shareholders get dividends despite plummeting oil prices
Thursday, April 30, 2020
The shareholders of Romanian oil and gas group OMV Petrom approved the distribution of dividends in gross value of approximately RON 1.76 billion (EUR 360 million), representing 48% of the 2019 net profit. Approximately RON 362 mln (EUR 75 mln) will go to the Romanian state, which holds a minority stake of over 20.6% in the company. Austrian group OMV, which holds the 51% majority stake in the company, will get close to RON 900 ...
Hidroelectrica proposes shareholders EUR 260 mln dividends
Thursday, April 30, 2020
Romanian state-controlled hydropower group Hidroelectrica convened shareholders on May 26 to approve the distribution of 90% of last year's RON 1.39 billion (EUR 290 mln) profit as dividends. The company's management proposed the dividend payout ratio abut the shareholders - the Romanian state (80%) and investment fund Fondul Proprietatea (20%) - have the final decision. Fondul Proprietatea would receive RON 250 mln (EUR 42 mln) ...
Moody's announces completion of a periodic review of ratings of Transelectrica S.A.
Thursday, April 30, 2020
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Transelectrica S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not ...
Fitch Revises Electrica's Outlook to Negative on Sovereign Action
Thursday, April 30, 2020
Fitch Ratings has revised the Outlook on Electrica SA's Long-Term Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'BBB'. The revision of the Outlook mirrors the recent revision of the Outlook on Romania's rating to Negative from Stable (largely driven by the implications of the coronavirus pandemic) as we do not expect to rate Electrica more than one notch above the Romanian state (BBB-/Negative), its largest ...
Romgaz pays dividends worth EUR 128 mln this year
Thursday, April 30, 2020
Romanian state-controlled natural gas producer Romgaz is the first blue-chip company on the Bucharest Stock Exchange that has had its 2019 dividends approved by the shareholders. The company will pay a gross dividend of RON 1.61 per share, resulting in a yield of 5.8% based on the latest share price (RON 27.75). In addition to last year's net profit, the company will also distribute to shareholders part of its reserves ...
Energy Transition: CEEP asks for more, fresh money and better allocations
Thursday, April 30, 2020
The costs of the energy transition are enormous and there is a clear need to increase the spending for the transformation of the European energy sector, writes Maciej Jakubik, Executive Director of Central Europe Energy Partners – CEEP, in the latest report of ...
Roland Berger’s Romanian E-Mobility Index shows strong increase in demand for electric-powered vehicles
Thursday, April 30, 2020
Demand growth for electric powered vehicles has accelerated in 2019 H2, shows the second edition of the Romanian E-Mobility Index developed by Roland Berger. In total about 1,960 units were registered in the respective period, up by 210% compared to 2019 H1. New car registrations for pure electric vehicles (EVs) more than tripled in the second semester, while plug-in hybrid electric vehicles (PHEVs) registrations more than doubled over the same ...
Analysis: the negative historic price of oil - implications for Romania
Thursday, April 23, 2020
The day of Tuesday 22 April represented a shock for the oil industry, for the first time in history the barrel was traded at negative values in the US. The West Texas Intermediate oil (WTI) was traded at -40.32 USD/barrel by comparison to a value of 18.27 USD/barrel on Friday.The consequences of this situation for Romania differe from one category to another, Razvan Nicolescu says in his analysis. For consumers, especially for transporters, this collapse of the ...
Romania allows derogations in fossil fuel blending
Thursday, April 23, 2020
The Romanian government adopted on 9 April an emergency ordinance that changes the regulations on fuel sales and allows the sale of gasoline and diesel without the mandatory quotas including biofuels, EURACTIV.ro reported. It said the ...
EBRD: How to stop the coronavirus pandemic disrupting a green future
Thursday, April 23, 2020
In the ancient history of a few months ago, before the coronavirus crisis had caused massive damage to the global economy, 2020 was going to be the big green year – the time when half a decade of planning and investment since the 2015 Paris ...
Romania-Hungary gas link failure augurs ill for new Black Sea projects
Thursday, April 23, 2020
* No appetite for expanded cross-border gas capacity * BRUA-2 failure 'undermines' Romania confidence: BSOG CEO * ExxonMobil moving ahead with Neptun preparation: source The failure this week of the process to attract interest in expanded gas export capacity from Romania to Hungary was a bad sign for new developments in the Black Sea, industry officials and sources said for ...
DIY retailer Dedeman to invest 4 mln euro in rooftop solar plants
Thursday, April 23, 2020
Romanian do-it-yourself retailer Dedeman said on Wednesday it plans to install photovoltaic power plants on the roofs of 28 of its stores - an investment project worth 4 million euro ($4.83 million). The electricity produced by the solar plants is exclusively intended for the company's own consumption, Dedeman said in a press release. The total installed capacity at the 28 locations will be over 7 MWp (Mega Watt ...
Govt. urges state energy companies to be more active amid slowdown
Thursday, April 23, 2020
All energy companies under the authority of the Romanian Ministry of Economy and Energy will have to draft and approve, until June 15, an investment plan for the next five years, according to an order signed by minister Virgil Popescu, ...
Postponing bills payment - unfortunate solution, E.ON says
Thursday, April 23, 2020
Postponing the payment of electricity bills is an unfortunate solution for the energy system, instead the Government should inject liquidity into the system, said on Wednesday the Deputy Director General at E.ON Romania, Anca Dragu, in the video-conference organized by the Bursa newspaper on "Crisis management for the energy industry and critical infrastructure operators"."This 3-month postponement of the bills payment has been discussed. Of course, there are ...
Investor: Delaying the deadlines of the Casa Verde program is a positive step
Thursday, April 23, 2020
Distribution operators are no longer engaging with the public, and applicants within the Casa Verde program should have obtained their Technical Network Connection Notice (ATR) within 90 days, so the extension of program terms is welcome, an investor told energynomics.ro. “There are some steps that need to be taken to get the ATR. For example, one of the steps is to go with the notification to the town hall, where you must notify the town hall, ...
Electrica’s objective is a balanced portfolio including renewables
Thursday, April 23, 2020
Undergoing an ambitious process of internal transformation, Electrica group is facing this year rather unclear market conditions after the legislative and regulatory turmoil in 2019. No time for “business as usual”! The purchasing opportunities in Romania and the new reality of the national energy system being net importer asks for a reinterpretation of the roles that the Electrica group can ...
How the coronavirus outbreak affects the EU’s 2030 climate targets
Thursday, April 16, 2020
Ultimately, the coronavirus pandemic may slow down initial plans to adopt the European Climate Law and a number of other climate-related policy proposals, writes Robert Jeszke for euractiv.com. Robert Jeszke is Head of Strategy, Analysis and Auction Department and the Centre for Climate and Energy Analyses (CAKE) in ...
Romania puts on hold sale/purchase of energy cos during state of emergency
Thursday, April 16, 2020
Romania has suspended the sale and purchase of majority stakes in energy companies as of April 10 until the end of the state of emergency declared to limit the coronavirus spread, the interior ministry said on last Friday. "During the state of emergency, the procedures for selling/buying majority stakes in companies which are part of the national energy system, regardless of the form of their ownership, are suspended," ...
Rompetrol continues to support the fight against covid-19 pandemic, through a partnership with Romanian Red Cross
Thursday, April 16, 2020
KMG International, under Rompetrol brand, concluded a partnership with the National Society for Red Cross Romania to buy a mobile intensive care unit with 12 beds, in the value of USD 264,930, which will be donated to the Department for Emergency Situations (IGSU), as part of the national strategic reserve for civil protection, being used during the pandemic to offer rapid support where mostly needed. For the acquisition of the mobile ICU unit, KMG ...
ENEL X AND HERE TECHNOLOGIES LAUNCH “CITY ANALYTICS – MOBILITY MAP” IN RESPONSE TO THE COVID-19 EMERGENCY
Thursday, April 16, 2020
City Analytics – Mobility Map is the new solution released by Enel X City Analytics, which provides Italian government agencies with mobility indicators to support analysis of COVID-19 containment measures so as to implement recovery policies To support the response to the COVID-19 emergency, Enel X, the innovative global business line of the Enel Group, and HERE Technologies, global leader in geographical data ...