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Energy & Environment
Coal production advances 1pct in H1 2022, imports up 22.2pct
Thursday, August 18, 2022
Romania's H1 2022 net coal production totalled 1.459 million tonnes of oil equivalent (toe) up 1% (14,100 toe) from H1 2021, according to data with the National Institute of Statistics (INS).In H1 2022, Romania imported 281,500 toe of net coal, 51,200 toe (22.2%) more than the amount imported in H1 2021.The National Economic Strategy and Forecasting Board (CNSP) is expecting Romania's 2022 net coal production to reach 3.325 million toe, up 10.1% from 2021, ...
Transgaz lists consolidated net profit by 33 pct higher after first half of 2022
Thursday, August 18, 2022
The National Company for Natural Gas Transmission Transgaz has recorded a consolidated net profit higher by 33% after the first half of this year, to 177.278 million RON, and a turnover higher by 47.48%, to 1.178 billion RON, according to the report sent by the Bucharest Stock Exchange on Tuesday.Income from exploitation, before the balancing and construction activity, was situated at 703.921 million RON, going up slightly from the similar period of last year, and expenses with ...
Romania's H1 2022 crude oil production declines 6.2pct
Thursday, August 18, 2022
In H1 2022, Romania produced 1.464 million tonnes of oil equivalent (toe) of crude oil, down 97,100 toe (6.2%) y-o-y, according to data with the National Institute of Statistics (INS).Romania's H1 2002 crude oil imports stood at 3.95 million toe, up 50,400 toe (+1.3%) y-o-y.According to the National Economic Strategy and Forecasting Board, Romania's 2022 crude oil production is estimated at 3.17 million toe, down 2.3% from 2021, while the country's 2023 output ...
Romania's H1 2022 natural gas imports down 17.1pct, production down 5.5pct
Thursday, August 18, 2022
In H1 2002, Romania imported 1.067 million tonnes of oil equivalent (toe) of usable natural gas, down 17.1% (220,700 toe) y-o-y, according to data with the National Institute of Statistics (INS).The H1 2022 domestic production of natural gas exceeded 3.502 million toe, declining 5.5% (203,800 toe) y-o-y.The National Economic Strategy and Forecasting Board estimates for 2022 a natural gas production of 7.45 million toe and imports of 2.33 million ...
Romgaz more than doubles profit on higher prices
Thursday, August 18, 2022
Romgaz (BVB: SNG), a natural gas and electricity producer and supplier controlled by the Romanian state ...
Nuclearelectrica triples profit in H1 despite windfall tax
Thursday, August 18, 2022
Nuclearelectrica (BVB: SNN), the operator of Romania’s nuclear plant located in Cernavoda, announced that its net profit more than tripled in the first half of the year, to RON 1.22 bln (EUR 244 mln). This was ...
Financial results of Rompetrol Rafinare, in the first half of 2022
Thursday, August 18, 2022
Rompetrol Rafinare, a member company of the KMG International Group, recorded, in the first semester of this year, increasing financial indicators, on the background of developments in international quotations for raw materials (crude oil, bio components, etc.) and petroleum products, as well as refining margin. "In the first half of the year, our company played an important role in the stability of fuel supply to customers in Romania and the region, ...
Transelectrica's H1 net profit at 28 ml RON, down 73 pct
Thursday, August 18, 2022
National electricity transmission company Transelectrica posted a net profit of 28 million RON in H1, down 73 percent compared to the same period last year, according to the half-yearly report sent to the Bucharest Stock Exchange on Friday.January-June 2022 total operating revenues were 83 percent higher year-over-year, at 2.6 billion RON, mainly due to the increase in the average transmission tariff, the rise in interconnection revenues, as well as in the revenues achieved on ...
Oil Terminal Constanta net profit grew by 83% in first semester
Thursday, August 18, 2022
Oil Terminal Constanta, the operator of the Black Sea state oil terminal, obtained a net profit of 17.8 million lei in the first semester of the year, 83% higher than in the similar period of 2021 (9.73 million lei). The net business figure of the company went up by about 39%, to 131.66 million lei, from 94.84 million lei in the first part of 2021. The company transported 4.36 million tons of crude oil, gas, diesel ...
Non-refundable financing for energy infrastructure investment projects available through Modernization Fund
Thursday, August 11, 2022
Non-refundable financing for energy infrastructure investment projects is available through the Modernization Fund, and the budget allocated for 2022 is 100 million euros, Minister of Energy Virgil Popescu said on Tuesday in a Facebook post."We invest in the development of the expansion and modernization of the electricity distribution network. Through the Modernization Fund we have non-refundable financing for energy infrastructure investment ...
Timisoara to have 20 solar-powered smart waste bins
Thursday, August 11, 2022
A total of 20 solar-powered smart waste stations are to be installed on the streets of Timisoara, a major city in western Romania. The high-capacity BigBelly smart bins have automated systems to compact waste and communicate their status with sanitation agents. Timisoara City Hall said in ...
In 10 years since commissioning, Brazi power plant has supplied 32-plus TWh into the grid
Thursday, August 11, 2022
Oil company OMV Petrom invested 530 million euros in the Brazi power plant, in what represents the largest greenfield private investment in Romania, the company informs.Since its commissioning in August 2012, the plant produced a total amount of more than 32 TWh of electricity.The Brazi facility is a state-of-the-art combined cycle plant that uses natural gas to produce electricity for the national grid and uses an advanced technology that allows ...
Minister Popescu : OMV Petrom and Romgaz must declare Neptun Deep as commercially viable by end of year
Thursday, August 11, 2022
Under a provision in the petroleum agreement for the concession of the Neptun Deep offshore natural gas perimeter in the Black Sea (amended in February), the concession operators of the perimeter (OMV Petrom and Romgaz) are obliged to officially declare, by the end of this year, that the discovered deposits have commercial value and can be exploited under conditions of economic profitability, Romania's energy minister Virgil ...
PV panels for the future of mountain grazing – a project of the Intelligent Energy Association
Thursday, August 11, 2022
Photovoltaic panels are already a well-known reality in the mountainous part of Valcea County. From Vaideeni up to Varful lui Roman and beyond, in the alpine areas, almost every house, small or large, has already installed solar energy production systems. The main reason for this is the absence of an electricity grid. For some years now, photovoltaic panels have been added to fossil fuel-fired ...
NuScale reactor passes last test of U.S. Nuclear Regulatory Commission
Thursday, August 4, 2022
The NuScale type reactor passed the last test of the U.S. Nuclear Regulatory Commission and will practically be the first small modular reactor (SMR) in the world fully authorized, including from the point of view of operational safety, so that Romania will have access to the newest technology, Minister of Energy Virgil Popescu announced on Wednesday."Practically, Romania will have access to the latest technology, both from the point of view of ...
Romgaz completes acquisition of Exxon's stake in Neptun Deep project in the Black Sea
Thursday, August 4, 2022
The National Natural Gas Company Romgaz SA completed the acquisition of Exxon's stake in the Neptun Deep project in the Black Sea, the Romanian company announced in a press release sent to the Bucharest Stock Exchange (BVB)."S.N.G.N Romgaz S.A. announces the completion of the acquisition transaction and the transfer of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited which holds 50% ...
Megalodon Storage build 7MW electricity storage facility north of Bucharest
Thursday, August 4, 2022
Megalodon Storage, a Romanian company controlled by Austrian investors, obtained a permit to build an electricity storage facility “with a maximum power of 7 MW,” located in the village of Caciulati in the commune of Moara Vlasiei, north of ...
Iohannis: European approach for voluntary gas savings, correct, it is wise to save where we can
Thursday, August 4, 2022
President Klaus Iohannis said on Friday that the European approach to voluntary savings of 15% on gas is the right one and stressed that the economy must be done "wisely" and "where possible"."It is obvious that we will face a complicated winter, given that the gas delivered by Russia is becoming less and less, the gas on the international market is becoming more and more expensive. However, the European approach to making voluntary savings of ...
OMV Petrom: More information needed on offshore gas law
Thursday, August 4, 2022
Romanian oil and gas firm OMV Petrom ROSNP.BX will need more information on a newly amended offshore gas law before it makes a final investment call on its Black Sea project in mid-2023, its chief executive said on Thursday. The introduction of a tax on offshore gas income in 2018 prompted OMV Petrom, controlled by Austria's OMV OMVV.VI, to put on hold its Neptun Deep deepwater project, where it ...
PM Ciuca: Rosia Poieni copper ore should be processed in Romania for a higher added value
Thursday, August 4, 2022
After a visit on last Thursday to Cupru Min SA Abrud, the company that exploits the Rosia Poieni deposit where 60% of Romania's copper reserves lie, Prime Minister Nicolae Ciua said that investment should be supported so that the copper ore can be processed in the country."Today, together with Alba County local officials, I visited Cupru Min. I wanted to start the working visit with this company because, from my assessment at the government ...