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Energy & Environment
The gas in the Black Sea, energetic efficiency and the nuclear programme should be the priorities of Romania
Thursday, November 19, 2020
The exploitation of gas in the Black Sea, the growth of energetic efficiency and the continuation of the nuclear programme of the country are among the priorities which should be found in the governing programmes of the political parties for the next years, consider most experts in the energy sector, who took part in the debate ‘The energy in the elections’ which happened on Wednesday.Organised by Asociatia Energia Inteligenta (Smart Energy ...
The additional tax on Black Sea gas will be relaxed in the new offshore law
Thursday, November 19, 2020
The new offshore law will keep the windfall tax but increase the threshold over which this tax will apply, announced Niculae Havrilet, a state secretary in the Ministry of Economy and Energy, according ...
OMV Petrom invests 21 ml euros to increase Petrobrazi refinery's biofuel blending capacity
Thursday, November 19, 2020
OMV Petrom has increased the annual biofuel blending capacity of its Petrobrazi-based refinery from 200 kilotons to about 350 kilotons, on an investment of approximately 21 million euros, so as to supply fuels with increased levels of bio-components into finished products, the company said in a release on Wednesday.The use of fuels with an increased level of bio components contributes to achieving the EU's greenhouse gas reduction ...
EC evaluates EUR 2 bln restructuring strategy at RO coal and power group
Thursday, November 19, 2020
One of Romania's biggest energy producers, the coal and power group CE Oltenia (CEO), enters the final stage of the evaluation process of the Restructuring and Decarbonization Plan as it will notify the European Commission (EC). According to the company's management, the EC expressed surprise with the lack of multi-annual contracts, a legislative barrier that Romania is expected to remove early next ...
Gross turnover of Rompetrol Rafinare drops 35 pct in first 9 months
Thursday, November 19, 2020
Rompetrol Rafinare, a member company of KMG International, recorded in the first 9 months of 2019 a gross turnover of 2.5 billion dollars, a drop by 35.8 pct compared to a result of 3.9 billion dollars in the same period of last year, informs the company in a release sent on last Friday.Net losses clocked in at 156.1 million dollars, an increase of 480 pct over the losses of 26.9 million dollars recorded in the similar period of 2019.These descending ...
Electricity consumption in Romania declines 5.1pct, Jan.-Sept. 2020
Thursday, November 19, 2020
Romania's final electricity consumption reached 39.3 TWh in the first nine months of 2020, down 5.1% from the same period last year, according to a press statement released by the National Institute of Statistics (INS) on Friday.Public lighting decreased by 8.1%, and household consumption increased by 3.6%.Electricity exports were 3.673 billion kWh, up 1.095 billion kWh.Own technological consumption in networks and stations was 3.8 billion ...
Romgaz and Petrom want to produce hydrogen in a wind farm in Dobrogea
Thursday, November 19, 2020
Romgaz and OMV Petrom, the biggest local energy company, could partner to develop a hydrogen production facility near a wind farm in Dobrogea, according to Niculae Havrilet, a state secretary in the Ministry of Economy and Energy. The plant would use electricity to produce hydrogen through hydrolysis - to be later used in automobiles and energy generation applications. It would be the first such project in ...
Nuclearelectrica posts 15% higher profit in first nine months
Thursday, November 19, 2020
Nuclearelectrica, which operates Romania’s Cernavoda nuclear power plant, announced a net profit of RON 477 mln (EUR 98 mln) in the first nine months of this year, up 14.8% compared to the same period of 2019. The company’s operating income declined by 1.8% year-on-year, to RON 1.78 bln (EUR 366 mln), as a slightly lower sale price on the competitive market compared to the same period of 2019 counterbalanced ...
Transgaz has investment projects worth 1.1 billion euros this year
Thursday, November 19, 2020
Transgaz has 1.1 billion euros worth of investment projects this year, aimed at achieving goals not only of national interest, but also goals that benefit the European Union, Prime Minister Ludovic Orban said on Thursday after visiting the Transgaz National Society.He welcomed the completion of a "soul project", the Ungheni - Chisinau gas pipeline, which "will allow the citizens of the Republic of Moldova to benefit from the Romanian gas".The ...
EBRD: How the Platform on Sustainable Finance will help define our green future
Thursday, November 19, 2020
With an ever more ambitious global green agenda coming into focus, states, markets, blocs and businesses are working to go carbon-neutral in time to keep world temperature rises from exceeding 2C and, preferably, the more ambitious target of 1.5C. But, to achieve their goals, those taking action in so many different fields – who each started by developing their own bespoke vocabulary to describe ...
Deloitte Romania advised CEZ Group in the sale of seven of its Romanian subsidiaries
Thursday, November 19, 2020
Deloitte Romania advised the Czech energy group CEZ in the sale of seven of its Romanian subsidiaries, active in ...
E.ON reaches 100 charging points for e-vehicles in Romania
Thursday, November 19, 2020
Utility company E.ON Energie Romania, part of German group E.ON, has installed about 100 public and private charging points for electric cars in Romania through the E.ON Drive project. Most charging points are in Bucharest and in the Moldova region, where E.ON also runs electricity distribution operations.The charging points can be found through the E.ON Drive online platform and mobile ...
Increased interest from local authorities for the exploitation of geothermal waters
Thursday, November 19, 2020
During the last year, the National Agency for Mineral Resources (ANRM) has intensified the procedures for granting the administration of geothermal water sources to the territorial administrative units (UAT). In an interview for Energynomics, the president of ANRM Nicolae Turdeanspecified that for the western and ...
ANRM: 6-7 billion dollars should be invested in Black Sea gas reserves
Thursday, November 12, 2020
The Black Sea can become a small North Sea, since it has has reserves of over 200 billion cubic meters, but investments of 6-7 billion dollars for their extraction, said Sorin Gal, general manager of the National Agency for Mineral Resources (ANRM) on Thursday. He participated in the Natural Gas Forum, organized online by Financial ...
PM Orban says he is not aware of Exxon’s plans with its offshore perimeter
Thursday, November 12, 2020
The US oil group ExxonMobile hasn't informed the Romanian authorities about its intentions with the 50% stake it holds in the Neptun Deep offshore perimeter, prime minister Ludovic Orban said at B1 TV on November 8. "We are not sure, we will see what their decision will be. As far as we are concerned, [the natural gas transport system operator] Transgaz is contracting works for the ...
Lukoil wants to sell its stake in Romanian Black Sea perimeter
Thursday, November 12, 2020
Lukoil wants to sell its 87.8% stake in the EX-3-Trident perimeter in Romania's Black Sea offshore area, according to the CEO of Romanian state-owned gas producer Romgaz - which holds a minority 12.2% stake in the project. "We received this letter from Lukoil. We will have a discussion with them. We don't know their reasons yet," Adrian Volintiru, general manager of Romgaz, told ...
Energy Ministry, reaction to CEZ Romania sale: New incentive will be well received by market
Thursday, November 12, 2020
The Romanian companies' offer to take over CEZ Romania was substantiated on commercial bases and a new incentive will be welcomed in the market, said Dan Dragos Dragan, the secretary of state in the Economy Ministry. He participated in the Natural Gas Forum, organized online by Financial Intelligence. CEZ Group approved the sale of its stock in Romania to funds ...
Energy Ministry wants gas exploitation in Neptune Deep offshore reserve to start before 2025
Thursday, November 12, 2020
The Romanian government wants to extract gas from Neptune Deep offshore reserve before 2025 and is preparing a suggestion for the amendment of the offshore law, said Dan Dragos Dragan on last Thursday. He participated in the Natural Gas Forum, organized online by Financial Intelligence. The official reminded that the ministry will come with a suggestion to ...
DAM Romania will join those in Germany and Austria next spring
Thursday, November 12, 2020
The day-ahead markets (DAM, or spot) in Romania, Hungary, Slovakia, and Czechia will be coupled starting next year with those in Germany, Austria, and Poland, according to Romania's power grid operator Transelectrica. Romania's DAM market is already coupled with those in Hungary, Slovakia, and Czechia (4M MC mechanism). The plan is to couple these markets with the spot ones in Germany, Austria, and ...
Motor fuel prices in Romania, 25pct lower than European average
Thursday, November 12, 2020
Motor fuel prices in Romania are 25% lower than the European average, while automotive gas oil prices are 18% lower, according to the latest data provided by the Oil Bulletin of the European Commission valid for November 2.Thus, the price for one litre of Euro super 95 motor fuel in Romania is 0.923 euros, while the average of the 27 EU member states is 1.247 euros per litre.Lower prices than in Romania are in Bulgaria, at 0.899 euros per litre. The ...