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Energy & Environment
OMV Petrom’s output and sales, down around 7% yoy in Q4
Thursday, January 21, 2021
Romanian oil and gas group OMV Petrom (SNP) reduced its total hydrocarbon production by 7.6% year-on-year to 140,200 barrels of oil equivalent (boe) per day in Q4, 2020. The output in Q4 was also 0.8% lower than in the previous quarter, according to the group's key operational indicators released on January 14. The total volume of hydrocarbon sales was 133,300 boe per day, (-6.8% year-on-year, steady quarter-on-quarter), of ...
Drowned in comments, European Commission postponed green finance rules
Thursday, January 21, 2021
The European Commission was forced to delay publication of detailed implementing rules on the EU’s sustainable finance taxonomy because of the sheer number of comments received. In addition, EURACTIV writes that 10 eastern and southern EU member states wielded veto; they complained that natural gas had been denied “transition” fuel status in the draft guidelines, even when it replaces coal in power generation. The EC published on 20 November 2020 the ...
ANRE extends until June 30 the period in which household consumers can conclude contracts on the competitive market
Thursday, January 21, 2021
National Energy Regulatory Authority (ANRE) has extended until June 30 the period in which household energy consumers who were previously regulated can choose an offer in the competitive market from their supplier, it is shown in a new draft order of ANRE. Thus, from January 1, these consumers automatically switch to the new universal service market and the novelty is that if they choose their supplier’s offer on the competitive ...
Resumption of works on the Nord Stream 2 pipeline has been postponed
Thursday, January 21, 2021
The consortium responsible for the Nord Stream 2 gas pipeline project has decided to postpone construction work on the submarine pipeline, which was due to resume on Friday 15 January in Denmark’s territorial waters, a spokesman for the Nord Stream 2 AG consortium told the German daily Handelsblatt, Reuters reports. “We have permission from the Danish Energy Agency to start works on Friday. But that does not mean we will actually resume ...
USTDA and SN Nuclearelectrica SA Partner to Support the Delivery of Technical Assistance related to SMR sitting assessment
Thursday, January 14, 2021
Today, January 13, 2021, the U.S. Trade and Development Agency (“US-TDA”) and SN Nuclearelectrica SA (“SNN”) announce the awarding by US-TDA of a non-refundable grant in value of $1,277,115 US that aims to fund the cost of services required in connection with the delivery of technical assistance related to identifying and performing a preliminary assessment of new potential SMR compatible nuclear sites in Romania, outside in Cernavoda NPP, the ...
Restart Energy announces a joint venture with the Americans from Interlink Capital Strategies
Thursday, January 14, 2021
Restart Energy, one of the largest independent suppliers of electricity and natural gas in Romania, entered into a joint venture with the Washington, DC based Interlink Capital Strategies to develop 500 million dollars in green energy in Romania and neighboring countries as well as to expand into the US market with an innovative blockchain electricity trading platform. The investment for Romania will ...
E-Distributie Banat INVESTED 127 MILLION LEI IN 2020 FOR GRID MODERNIZATION, TO THE BENEFIT OF OVER 916,000 CONSUMERS
Thursday, January 14, 2021
The value of last year's projects adds to the 3.24 billion lei of investments made by E-Distributie Banat from privatization (2006) until 2019 Last year, the company developed the distribution infrastructure with almost 250 kilometers of new and modernized network, on low and medium voltage ...
4 million euro investment in a unit for the production of electricity in Azomures
Thursday, January 14, 2021
The biggest producer of fertilisers for agriculture in Romania, Azomures, announced that they will place an investment of four million euro in a unit for electricity production which will lead to the reduction of the carbon dioxide emissions, so that they can adapt to the requests of the programmed Green Deal of the European Commission.The Azomures spokesperson, Ovidiu Maior, stated that the new electrical unit will generate 5% of the annual consumption of ...
Manfred Paasch, CEO E.ON Romania: Only a free and functioning market can stimulate investors
Thursday, January 14, 2021
Romania should foster and support the development an internal energy market at European level, that should be competitive, integrated and liquid, by ensuring efficient price-setting mechanisms, and an increased delivery security, at the lowest cost possible, Manfred Paasch, CEO of E.ON Romania tells Energynomics in an exclusive ...
PwC: The global economy is projected to rebound by early 2022, with fastest rate in two decades
Thursday, January 14, 2021
The global economy is projected to grow in 2021 by around 5%, the fastest rate recorded in the 21st century, returning the global economy in aggregate to pre- pandemic levels of output by the end of 2021 or early 2022, according to PwC Global Economic Watch 2021. While the global economy is likely to be back to its pre-crisis levels, the rebound will be uneven across different countries, sectors and ...
Geothermal energy – the meeting point for various economic sectors
Thursday, January 14, 2021
Many believe that new companies and technologies have brought geothermal to the point that it may finally be ready to scale up and become a major player in clean energy. With the technology for accessing deep geothermal developing at faster and faster pace these years, we talked with a geoscientist with over 34 years of experience about this old promise of geothermal energy. For many decades, Stephen Birrell worked in ...
EnergyMin Popescu: After Jan 15 gov't to alter energy law
Thursday, January 7, 2021
The Government will modify the electricity and natural gas law after January 15, Energy Minister Virgil Popescu said on Tuesday, to establish exactly how the liberalization of the market will take place."They have a regulated customer base of 6 million for which they never paid. So this is obvious, when the privatisation was done, the distributions took over the electricity distributions, but not the customers. They automatically took over this database, they took over the ...
ANRE: Order allowing conclusion of retail contracts with current energy suppliers until March 31 not anti-competitive
Thursday, January 7, 2021
The order of the National Energy Regulatory Authority (ANRE) allowing household consumers to conclude contracts on the competitive market until March 31 only with the current suppliers does not distort competition, but ANRE will examine this aspect together with the Competition Council, ANRE vice-president Nagy-Bege Zoltan said.The energy regulator has a draft order in the making that allows household consumers to opt until March 31 for setting up a contract on the free market ...
Electrica SA completes merger process of three electricity distribution companies within Group
Thursday, January 7, 2021
Electrica SA power supply and distribution corporation has successfully completed the first stage of the merger through absorption of the three electricity distribution companies within the Group, which, as of January 1, 2021, has become Distributie Energie Electrica Romania SA (DEER), informs the company through a press release.The merger through absorption of the electricity distribution companies within the Electrica Group was approved in principle by the Board of ...
EnviMin Barna Tanczos: Closing 20 infringement procedures, fundamental priority
Thursday, January 7, 2021
The year of 2021 should be the year of investments for the environment, water and forests sector, and a fundamental priority is closing the two infringement procedures opened by the European Commission, says the minister of Environment, Waters and Forests, Barna Tanczos.He summoned the College Session of the Ministry of Environment, Waters and Forests, which reunites dignitaries and directors within the ministry, as well as the leadership of institutions operating beneath ...
OMV Petrom sells Kazakhstan operations to focus on Black Sea projects
Thursday, January 7, 2021
OMV Petrom (SNP), the largest energy company in Southeastern Europe, has sold its operations in Kazakhstan to Magnetic Oil Limited. The closing of this transaction is subject to certain conditions, including approval by the Kazakh Ministry of Energy, and is expected in the first half of 2021. The deal targets OMV Petrom's subsidiaries Kom-Munai LLP (KOM) and Tasbulat Oil Corporation LLP (TOC), which hold the production licenses for four onshore ...
DKV takes over Romanian independent fuel supplier Smart Diesel
Thursday, January 7, 2021
German mobility services provider DKV has reached an agreement to buy Romanian competitor Smart Diesel, founded by local entrepreneurs Ovidiu Andries and Daniel Imbre. The two sides haven't disclosed the transaction's value, which also needs to be approved by Romania's Competition Council. Smart Diesel is the largest independent fuel company in Romania. It offers fuel cards, bulk fuel, a solution for paying tolls, and VAT recovery services to over ...
Transelectrica increased cross-border capacity by 1,000 MW in 2020
Thursday, January 7, 2021
Transelectrica announces that as of 1 January 2021 it will ensure a cross-border capacity of 2.800 MW for export and 3.000 MW for imports into Romania with the countries with which it operates interconnected – Bulgaria, Hungary, Serbia and Ukraine. At the beginning of 2020, Romania’s cross-border capacity was around 2.200 MW export/import, says the national system operator in a press release. The company promises that over the next five ...
Competition Council to evaluate impact of Hidroelectrica buying large wind farm
Thursday, January 7, 2021
Romania's Competition Council will analyze the transaction through which major hydropower company Hidroelectrica intends to take over Crucea Wind Farm and the services company Steag Energie Romania. Crucea Wind Farm's main activity is the production and sale of electricity in Romania, through the Crucea Nord Wind Power Plant, with an installed capacity of 108 MW. Steag Energie Romania provides technical engineering services and monitors the services ...
PwC Net Zero Economy Index: The rhythm of decarbonization must increase by 5 times
Thursday, January 7, 2021
Achieving the Paris Agreement goal of limiting warming to 1.5°C will now require a rate of global decarbonisation of 11,7% every year, five times faster than in 2019, according to PwC Net Zero Economy ...