RSS
Energy & Environment
EIB to allocate more money to clean energy projects, opportunity for Romania
Thursday, February 20, 2020
The European Investment Bank (EIB) will no longer finance projects on fossil fuel energy production, which means that more money will be directed towards green energy investments, and Romania will benefit from this opportunity, Andrew McDowell, vice president of the institution, told on Thursday a conference on the financing of investments, organized by the EIB in Bucharest.Andrew McDowell was asked by journalists what this means for Romania, as our country relies ...
Oil Terminal – profit almost nine times higher than in 2018
Thursday, February 20, 2020
Oil Terminal, the operator of the Black Sea oil terminal, reported a preliminary net profit of 2.42 million lei for 2019, almost nine times over that of the previous year, of 0.28 million lei, due to an increase in revenues from the provision of services of 15.5%, up to 166.13 million lei, is shown in the report of the company, sent to the Bucharest Stock Exchange (BVB). Personnel expenses rose by 12.2% to 89.06 million lei, while in the category ...
Romgaz eyes 20% stake in Neptun Deep offshore gas project
Thursday, February 20, 2020
Romanian natural gas producer Romgaz [BSE:SNG] is interested in acquiring a 20% stake in Neptun Deep - the offshore gas project in the Black Sea in which ExxonMobil holds a 50% stake, local media reported on Tuesday. Romgaz have the appetite to acquire 20% of Neptun Deep when Exxon make their final decision on selling, Ziarul Financiar newspaper quoted Romgaz CEO Adrian Volintiru as saying at an energy ...
Exxon “not committed” to exit Neptun Deep project, minister Popescu says
Thursday, February 20, 2020
Officials of U.S. group Exxon have said that they are not committed to leave Romania and are only testing the market, and that is why they have put up for sale their 50% stake in the Neptun Deep offshore gas project developed with OMV Petrom in Romania’s Black Sea - to see if they receive an offer that could determine them to sell, said Romania’s acting minister of economy and energy Virgil Popescu, at Realitatea Plus TV station. Related to ...
A new platform for smarter energy performance contracts is coming to Europe
Thursday, February 20, 2020
* Innovative solutions for building owners and investors through the active control of smart buildings will be tested in Portugal and Belgium A new concept for adding flexibility in the Energy Performance Contracting model is currently being developed at a European level. This approach aims to support building owners and investors by promoting comfort and energy-cost savings through active demand response solutions. Additionally, it will have ...
Nuclearelectrica is ready to develop new reactor on its own
Thursday, February 20, 2020
Romanian state-controlled nuclear company Nuclearelectrica needs between EUR 3 bln and EUR 3.5 bln to develop the third nuclear reactor of the Cernavoda nuclear power plant using own resources and bank loans, but it needs state guarantees to contract the loans, said Theodor Chirica, member of the company’s board and former CEO speaking at an energy ...
EBRD interested in 5% stake in Romania's Hidroelectrica
Thursday, February 20, 2020
The European Bank for Reconstruction and Development (EBRD) is interested in acquiring a 5% stake in state-owned Romanian hydro power producer Hidroelectrica, local media reported on Monday. "We support the listing of the company on the Bucharest Stock Exchange. We have a letter of intent from the EBRD who want to be part of the pre-listing procedure by acquiring a 5% stake," Ziarul Financiar newspaper quoted economy and energy minister Virgil Popescu ...
Transelectrica's 2019 profit at 104.4 ml lei, up 28 pct
Thursday, February 20, 2020
National electricity transmission system operator Transelectrica's net profit stood at 104.4 million lei last year, up 28 percent from the 81.3 million lei registered in 2018, shows a report sent on Friday to the Bucharest Stock Exchange.Transelectrica's total revenues were 2.397 billion lei in 2019, down 11.9 percent from 2.721 billion lei in 2018. At the same time, expenses decreased by 13.3 percent to 2.271 billion lei from 2.620 billion lei in the previous ...
Intero Integrity Services acquires environmental and integrity service provider The Sniffers
Thursday, February 20, 2020
Intero Integrity Services announced it has acquired The Sniffers, a longstanding service provider to the oil & gas industry and specialized in emission monitoring and pipeline integrity services. The 90-employee company The Sniffers, founded in 1991 and headquartered in Belgium, offers emission reduction services such as LDAR and tank emission measurements, energy saving projects for flare- and steam-losses and underground pipeline integrity ...
BSOG to deliver first offshore gas from Romania’s Black Sea in 2021
Thursday, February 20, 2020
Black Sea Oil and Gas (BSOG), the only company that has already made the final investment decision to exploit an offshore gas perimeter in Romania’s Black Sea, maintains its goal of bringing the first gas to shore in 2021 despite the operations lagging slightly behind schedule. “We are a little late, the project is at 25% [versus 50% planned], but we will start the extraction in 2021,” Mark Beacom, CEO of ...
Climate Action: Commission urges Romania to notify national measures on penalties for infringements of Regulation on fluorinated greenhouse gases
Thursday, February 13, 2020
Today, the European Commission decided to send a reasoned opinion to Romania for failing to adopt measures on penalties for breaches of Regulation (EU) No 517/2014 on fluorinated greenhouse gases. Fluorinated greenhouse ...
EC approves Romania’s EUR 53 mln support scheme for charging stations
Thursday, February 13, 2020
Romania will offer grants totalling EUR 53 million to companies that will install charging stations for electric and hybrid vehicles, after the European Commission (EC) approved the support scheme as legal. The EUR 53 million budget covers the period 2020-2025. The goal is to stimulate the creation of a national network of charging stations for electric vehicles that will cover urban, suburban and rural ...
OMV Petrom to install electric charging stations in 30 gas stations
Thursday, February 13, 2020
Romanian oil and gas group OMV Petrom, which manages the largest fuel distribution network in Romania and also has gas stations in the Republic of Moldova, Serbia and Bulgaria, will start installing electric car charging stations, announced Radu Caprau, the company’s member of the directorate in charge with the downstream oil segment, according ...
Romania exceeds 250 green buildings, with two-thirds in Bucharest
Thursday, February 13, 2020
Over 250 dwellings in Romania have been certified as green buildings, and most of them, respectively 75pct, are in Bucharest, according to a release from the consulting firm BuildGreen, released on Wednesday .The capital is followed by Cluj-Napoca, Timisoara and Brasov."The implementation of sustainable development norms has already become a widespread practice on the real estate market in Romania. We already have office buildings with sophisticated systems that ...
Romania, net electricity importer in 2019
Thursday, February 13, 2020
Romania in 2019 was a net electricity importer, given that the imports soared by 74 pct, while the exports dipped by 34 pct, according to data released on Wednesday by the National Statistics Institute (INS).The imports totalled 5.110 TWh, while the exports stood at 3.592 TWh, thus resulting in a 1.518 TWh negative balance.Romania's electric power final consumption last year parked at 55.2 TWh, 1 pct lower than the level recorded in ...
Vodafone Romania acquire 100% green energy for its operations, starting with 2020
Thursday, February 13, 2020
Vodafone Romania announced a major step within its strategic objective to reduce the carbon footprint and the environmental impact. Thus, starting with 2020, Vodafone Romania purchases 100% green energy for its operations, from renewable sources, following the renegotiation of contracts with energy suppliers. For the green energy purchased in 2020, the certificates of origin will be issued by the suppliers at the beginning of next year or at half-year, case by ...
Gov't resumes the liberalisation of its energy market
Thursday, February 13, 2020
Gas and electricity prices for households, which had remained on the regulated market, will be gradually liberalised in 2020 following a troubled period generated by emergency ordinance (OUG) 114/2018. But the bad effects may prove difficult to overcome. From July 1, the current price cap for gas sold to households will be removed, and electricity prices will be fully liberalised as of January 1, 2021. Prices were re-regulated ...
Transgaz loses 435 mln. lei in operating revenues in 2020, profit decreases by 65%
Thursday, February 13, 2020
Transgaz proposes to shareholders to approve, at the general meeting (GSM) of March 4, a budget of revenues and expenses (BVC), which marks a decrease of the net profit by about 65%. The operating revenues will decrease by 22%, mainly due to the diminution of the revenues with the balancing of the national transport system (SNT) by 214 million lei, but also to the “decrease of the revenues from international transport services by 211.6 million lei due to the termination ...
Romgaz reacts to the vote in the Senate: Liberalization will not raise prices after July 1
Thursday, February 13, 2020
Largest producer and main supplier of natural gas in Romania, Romgaz states that “it did not identify any real reason that with the liberalization of the market, on July 1, there will be any price increases for the natural gas supplied in the market”. And after July 1, the company will continue to provide the gas supplies needed for both households and industrial customers, says Adrian Volintiru, the General Manager of Romgaz, in a press ...
EIB approved EUR 4.9bn in investment for climate-action projects, Romania included
Thursday, February 13, 2020
European Investment Bank (EIB) has approved up to EUR 4.9 billion in investment for clean energy, sustainable transport, high-speed communications and social housing, as well as health and education infrastructure across the world. Of the approved investments, EUR 1.7bn are for the private sector investment, including reducing industrial energy use, developing medical devices and accelerating digitalisation of postal services. Money will be given to ...