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Energy & Environment

Romgaz is sole bidder for ExxonMobil’s stake in Black Sea project

Thursday, April 8, 2021

Romgaz (SNG), backed by the Government, is the only bidder for the 50% stake held by the US group ExxonMobil in local offshore gas perimeter Neptun Deep, Ziarul ...

Report : Renewables can accelerate the decarbonisation of the Romanian energy sector,

Thursday, April 8, 2021

The health crisis has amplified concerns on climate change and drawn more attention towards the rise of sustainability and environmental protection across the globe. The need for decarbonization has generated changes in global strategies of governments and companies in terms of energy efficiency and renewable energy sources across the globe. Globally, the major powers and, at the same time, the biggest polluters, China and the US are fighting for decarbonisation, while in Europe, the ...

Nuclearelectrica sells EUR 78 mln of electricity to Engie

Thursday, April 8, 2021

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Romanian state-controlled nuclear power company Nuclearelectrica (SNN) concluded a contract worth RON 383 million (EUR 78 mln) with gas and electricity supplier Engie Romania. The contract covers energy sales between April 1-30, according to a statement sent to investors.   The contract's value accounts for over 15% of Nuclearelectrica's turnover last year. Nuclearelectrica carried out the transaction on the Centralized Market with ...

GSP installs first offshore oil platform in Black Sea's Ana gas field

Thursday, April 8, 2021

Grup Servicii Petroliere (GSP) has successfully set in place more than 120 km off the Romanian Black Sea shores the first fixed offshore oil platform in the gas field, according to a press statement released by the company .The moment is significant in the history of hydrocarbon exploration on the Black Sea continental shelf, as it marks more than three decades since the first oil rig in the Black Sea became operational in May 1987. After 34 years, the Romanian company GSP, ...

Rompetrol and MOL will open new gas stations on highways A1 and A2 with recharging stations for electrical cars

Thursday, March 25, 2021

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  The National Company for Administration of Road Infrastructure (CNAIR) signed on Monday with Rompetrol and MOL concession contracts for the equipment, operation and maintenance of the space for services on highways A1 and A2, so that gas stations and recharging stations for electrical cars.According to a press release of CNAIR it is about routes Nadlac – Sibiu (A1) Pitesti – Bucuresti (A1) and Cernavoda – Constanta ...

Nuclearelectrica concludes transaction with Uranium National Company

Thursday, March 25, 2021

S.N. Nuclearelectrica S.A., the only nuclear energy producer in Romania, has taken over of the uranium oxide processing line from Uranium National Company S.A. Feldioara Branch. Radu si Asociatii SPRL provided legal assistance in the transaction.   The strategic decision to acquire a part of the Feldioara assets necessary for the processing of the raw material took into account the need for integrated ...

OMV Petrom expects 32 pct higher net profit this year

Thursday, March 25, 2021

OMV Petrom's net profit estimate for this year stands at 1.824 billion lei, by 32 percent higher than the 1.382 billion lei registered the year before, the documents posted on the company's website state.The oil and gas group has budgeted investments of 3.319 million lei in 2021, up by 3.5 percent from last year's figure, which stood at 3.206 million lei.Sales revenues are expected to grow by 3 percent to 15.875 billion lei from 15.437 billion ...

Investments worth 1.563 billion lei in electricity networks last year

Thursday, March 25, 2021

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Electricity distribution and transmission operators invested a total of 1.563 billion lei last year, compared to a forecasted value of 1.572 billion lei, which means an achievement of over 99 percent, according to a press release of the Romanian Energy Regulatory Authority (ANRE), sent on Monday."Following the constant monitoring that ANRE undertakes on the investment programs of the Electricity distribution and transmission network operators, the Authority ...

Romgaz to bid for Exxon’s stake in Neptun Deep within two weeks

Thursday, March 25, 2021

Romania's Government has deferred amending the Offshore Law until local gas producer Romgaz takes over the 50% stake and the leading position in Neptun Deep perimeter from ...

Group Electrica seeks EUR 360 mln financing

Thursday, March 25, 2021

Electrica (EL), the largest Romanian group in the field of energy distribution and supply, has summoned its shareholders on April 28 to approve guarantees for a RON 1 billion (EUR 210 million) loan from the European Investment Bank (EIB) and a RON 750 mln (EUR 153 mln) bridge loan from a consortium formed by Erste Bank and Raiffeisen Bank.   The EUR 210 mln loan from the EIB will be contracted by ...

Govt. to help coal and power group CE Oltenia before EC’s approval

Thursday, March 25, 2021

Government will help coal and power complex CE Oltenia (CEO) buy the emission certificates it needs by the end of April, before the European Commission completes its in-dept investigation to evaluate whether the state aid complies with the EU regulations, announced the head of the Competition Council, Bogdan Chiritoiu. He didn't explain how the Government could help CEO before the EC's green light but stressed that "the investigation ...

PM Orban: Exploitation of natural gas in the Black Sea - important for Romania's energy supply

Thursday, March 18, 2021

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 The Speaker of the Chamber of Deputies, Liberal Ludovic Orban, stated that the exploitation of natural gas in the Black Sea is important for Romania's energy security, mentioning that a fund could be created from the taxes collected from these exploitations to finance major investments.Orban met in Parliament on last Friday with representatives of OMV Petrom to discuss legislative changes in the case of the Black Sea offshore gas exploitation project."Today I ...

Nuclearelectrica  proposes slightly lower dividends despite higher profit

Thursday, March 18, 2021

Romanian state-controlled nuclear power producer Nuclearelectrica (SNN) wants to pay dividends worth RON 472 mln (EUR 97 mln) to its shareholders from last year’s net profit.   The proposed gross dividend per share is RON 1.565 and the dividend yield is 6.3% based on Monday’s closing price of RON 24.65 per share.   The proposed dividend is 5% lower than last year (RON 1.653 per share) although the company’s net ...

Investors to develop 1.4 GWh new wind power capacities in RO within five years

Thursday, March 18, 2021

Investors could pour over EUR 2 billion in Romania over the coming five years to develop 1.4 GW of new wind power capacities in what seems to be the second wave of renewables in the country.   Large investors have already approached power grid operator Transelectrica to get approvals for their ...

CE Oltenia seeks long-term contract with aluminum producer Alro

Thursday, March 18, 2021

  CE Oltenia, which seeks state aid to restructure its activity and phase out coal use, said that it signed a memorandum of understanding with local aluminum producer Alro to sell electricity after it completes new gas-fired units (in ...

Enel launches voluntary partial public tender offer for Enel Americas’ shares and American depositary shares

Thursday, March 18, 2021

Enel S.p.A. announces that, in the context of the corporate reorganization process aimed at integrating the non-conventional renewable energy business of the Enel Group in Central and South America (excluding Chile) into the listed Chilean subsidiary Enel Américas, it has launched a voluntary partial public tender offer for the acquisition of shares of Enel Américas common stock and American Depositary Shares  of the above company up to a maximum overall amount of ...

OMV Petrom confirms it will pay the same dividend as last year

Thursday, March 18, 2021

Oil and gas group OMV Petrom (SNP) will pay a gross dividend of RON 0.031 per share from last year’s net profit and from reported profits from previous years.   The dividend yield is 7.6% at Wednesday’s closing price of RON 0.407 per share. The total value of dividends is RON 1.75 bln (EUR 360 mln), the same as last year, despite the 64% drop in the group’s consolidated net profit in 2020, to RON 1.29 bln (EUR 265 ...

COFACE: Diversification is one of the many effects of oil price volatility on Middle Eastern and African oil producers

Thursday, March 18, 2021

* Study on the impact of oil price volatility in the Middle East and Africa   The COVID-19 pandemic’s negative impact on global GDP growth and global trade volumes has caused a sharp drop in oil prices in the spring of 2020. This price drop, even if temporary, has affected Middle Eastern and African oil exporters differently, in line with their national output’s dependence on oil, as well as their fiscal strength and international ...

The Minister of Energy has chosen his state secretaries

Thursday, March 18, 2021

Dan Dragan, George Niculescu and Derzsi Akos were appointed state secretaries within the Energy Ministry by a decision of the prime minister. The first two were proposed by the National Liberal Party more than a month ago.   Dan Dragan has worked before with minister Virgil Popescu on the team of former Minister of Economy, Energy and Business Environment, in the same position as state secretary. Dan Dragan was ...

Delgaz Grid – investments of over 2.9 bln. lei for the modernization of electricity networks

Thursday, March 18, 2021

Delgaz Grid, part of the E.ON Romania Group, has invested over 2.9 billion lei (682 million euro) since 2005, for the modernization of the electricity distribution system in the six counties in Moldova in which it operates (Bacau, Botosani, Iasi, Neamt, Suceava and Vaslui). One of the company’s priorities is to automate the electricity distribution ...

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