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Energy & Environment
ENEL, 70% LESS GREENHOUSE GAS EMISSIONS BY 2030, SCIENCE-BASED TARGET CERTIFIED
Thursday, September 19, 2019
Enel strengthens its leading position in the energy transition by ramping up its push towards decarbonisation, drastically cutting its emissions compared to 2017 levels, as certified in line with SBTi, a global initiative which validates corporate decarbonisation strategies The new commitment, which follows the UN pledge to pursue the goal of limiting the maximum global temperature increase to 1.5°C from pre-industrial levels, ...
'We need this dinosaur’: EU lifts veil on gas decarbonisation strategy
Thursday, September 19, 2019
As the new European Commission of Ursula von der Leyen prepares to take office, one of its key priorities will be to deliver on a new market design for gas that will have EU decarbonisation objectives at its core. And natural gas of fossil origin will play a significant part, officials say, quoted by euractiv.com. It now looks like the legislative proposals, due in 2020, will be renamed the “gas decarbonisation package,” reflecting a growing focus on natural gas as a ...
Rainer Seele, confirmed for two more years at the helm of OMV
Thursday, September 19, 2019
The term of office of the current CEO and Chairman of the Executive Committee of the OMV, Rainer Seele, was extended for another 2 years, until June 30, 2022, with the right of extension for another year. The decision was taken on Wednesday by the OMV Supervisory Board, which motivated it with the exceptional results recorded by the company in 2015, since the appointment of Seele to OMV management: a doubling of the adjusted operating results and a 40% increase in ...
FPPG rejects the alarmist statements about the effects of returning to a free and functional gas market
Thursday, September 12, 2019
The Oil and Gas Employers’ Federation ...
“Just E-Volution 2030” study: Romania will gain more than 3 bln. euro in GDP form energy transition
Thursday, September 12, 2019
The growth of industrial production, an increase in employment and positive effects on health, accompanied by a sharp reduction in the associated socio-economic costs: Europe is moving towards an increasingly sustainable future driven by the energy transition. This is the picture that emerges from the Just E-Volution 2030 study, produced by The European House – Ambrosetti in collaboration with Enel and the Enel Foundation and launched within the framework of The European House – ...
Mistery company becomes one of Romania's biggest gas importers
Thursday, September 12, 2019
Gas market stakeholders have been watching the spectacular evolution of a limited company with only two employees which has become one of the biggest gas importers in Romania, hotnews.ro reads. In April this year, it even became the biggest importer, temporarily, with over 50% of total imports. Voices on the market claim the strings behind the company may lead to Moscow.Regulators in both Romania and Hungary are said to run a joint investigation on the activities of the company, ...
Interview with Pál Ságvári: Hungary’s response to risks related to natural gas supply
Thursday, September 12, 2019
Pál Ságvári, Ambassador-at-Large for Energy Security, Ministry of Foreign Affairs and Trade of Hungary talks about energy security, diversification of gas supply and alternative routes. Pál Ságvári will be one of the speakers of Budapest LNG Summit from 2-3 December ...
Final electricity consumption up 0.3 pct in first seven months, households consumption 19.4 pct higher
Thursday, September 12, 2019
During 1.I – 31.VII.2019, primary energy resources increased by 2.9%, while those of electricity decreased by 3.0% as compared to the same period of previous year. The final electricity consumption in the first seven months of the current year was 32.556 billion kWh, 0.3 pct higher from the same period of 2018, given that public lighting registered an increase of 12.5 pct, and household consumption rose by 19.4 pct, shows data of the National ...
ANRE sent letter to EC to warn about significant chance of Russia cutting gas deliveries to Ukraine
Thursday, September 12, 2019
The risk of Russia cutting gas transit through Ukraine is mentioned by Romania's energy market regulator ANRE in a document for the second time. This time, it's a letter it sent to the EU last week. According to the document, which was seen by HotNews.ro, ANRE mentions speculation about gas prices in the context of a significant probability of interruption in natural gas deliveries through Ukraine.The letter was sent as part of moves related to a gas-related infringement ...
On-bill financing in Europe: a new project to scale up investments towards deep energy renovations of residential buildings
Thursday, September 12, 2019
In order to achieve the European Commission’s long-term energy vision for 2050, yearly energy investments in the EU need to almost double during the decade 2021- 30. Of these investments, energy efficiency improvements in residential buildings represent more than half. Deep retrofits will thus be critical, but, as they can be expensive, new and innovative ways of financing are vital. The Horizon2020 project RenOnBill promotes the development and implementation of on-bill schemes ...
ENEL LAUNCHES THE WORLD’S FIRST “GENERAL PURPOSE SDG LINKED BOND”, SUCCESSFULLY PLACING A 1.5 BILLION U.S. DOLLAR BOND ON THE U.S. MARKET
Thursday, September 12, 2019
Enel Finance International NV has placed on the capital market the world’s first bond linked to the achievement of a sustainable objective, part of the Group’s corporate strategy and in line with Enel’s commitment to achieving the Sustainable Development Goals (“SDGs”) of the United Nations The issue was almost three times oversubscribed, with orders of about 4 billion US dollars. The strong demand from investors for ...
Petromidia Refinery – four decades of performances and professionalism
Thursday, September 12, 2019
Petromidia Refinery Navodari celebrates 40 years of activity, time frame when from one idea it reached to be the largest such unit in Romania and one of the most modern in the Black Sea region. Petromidia started up its first installation in 1979 – Atmospheric Distillation – and since then it started an evolution carried on via major investments, every year. Only in 2019, 50 million dollars are allocated for the alignment and continuation of installation revamping, ...
FP portfolio manager Johan Meyer: investing in Cernavoda reactors 3 and 4 makes no sense financially
Thursday, September 5, 2019
Investing in reactors 3 and 4 of the Cernavoda nuclear power plant are not financially justified, and the subject is politically extremely sensitive, Johan Meyer, Franklin Templeton Investments CEO and Fondul Proprietatea portfolio manager told a news conference on Wednesday.Investing in reactors 3 and 4 makes no sense financially whatsoever. Secondly, the fact that the Chinese partner is now being subjected to sanctions in the United States makes this subject extremely sensitive ...
Reuters: Test-ban body chief enters race to lead U.N. nuclear watchdog
Thursday, September 5, 2019
The head of the global nuclear test-ban agency is running to become the next director general of the U.N. atomic watchdog, he told staff on Wednesday, bringing the number of candidates to four from three continents. International Atomic Energy Agency Director General Yukiya Amano died in July as he was preparing to step down early because of an unspecified illness that had visibly weakened him over the previous year. His right-hand man, Cornel Feruta of Romania, is now ...
The Competition Council analyses the trading through which OMV Petrom Marketing takes over the petrol stations owned by Art Petrol
Thursday, September 5, 2019
The Competition Council announced on Monday that they analyse the trading through which OMV Petrom Marketing takes over the petrol stations owned by Art Petrol, and the operation would surpass the value thresholds included in the law. ‘In accordance with the provisions of the law of competition (no.21/1996) this operation is an economic concentration which surpasses the value thresholds included in the law, being under the control of the Competition Council. The ...
Transgaz to build gas pipeline for Black Sea Oil & Gas offshore project
Thursday, September 5, 2019
Romanian state-owned company Transgaz will build until 2021 a gas pipeline connecting the shore of the Black Sea to the national transmission network in order to allow Black Sea Oil & Gas to sold output from its offshore project. The gas pipeline will have a total length of 24.4 km and will be build from the shore of the sea, at Corbu, to ...
Vestas to sell majority stake in three wind power plants in Romania for 136 mln euro
Thursday, September 5, 2019
Danish wind turbine manufacturer Vestas said it has entered into an agreement to sell 80% of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for 136 million euro ($151 million). Closing of the transaction is expected to take place within eight to ten weeks, Vestas said in a press release on Wednesday. The transaction is subject to certain closing conditions, including approval by the Romanian ...
Opposition tries to amend GEO 114/2018, PSD manages to block the return to free markets
Thursday, September 5, 2019
Deputies from the Committee of Budget postponed discussions on GEO 114/2018, with subsequent changes, after the members of the Committee for Industry had previously voted to eliminate the provisions with major impact on the energy markets. During Tuesday’s meeting, ALDE and UDMR representatives in the Committee did not attend, which allowed PSD representatives to have the final say. The elimination of the provisions of GEO 114 could still occur soon, but it all depends on the ...
GEO 114/2018 triggered two new infringement files against Romania; deadlines are close
Thursday, September 5, 2019
Of the 65 active infringement files of Romania at the European Commission, 15 refer to violations of EU law in the fields of environment and climate policies, and six files concern the energy field directly. Two were launched in 2019, following the adoption and implementation of the Government Emergency Ordinance (GEO) 114 of December 2018. Both refer to the impact of GEO 114 in the natural gas sector. The Commission calls on Romania to remove the barriers to natural gas exports; in ...
Stoica, BRM – Waiver of GEO 114 means a return to normal, but the effects will come slowly
Thursday, September 5, 2019
The natural gas market made a tough debut in Romania, being strongly influenced by the political factor. The market started operating a few years ago, when both the law and the secondary regulations functioned within normal parameters, says Septimiu Stoica, President of the General Meeting of Shareholders of the Romanian Commodities Exchange – BRM, during the Energy Breakfast Club – Oil & Gas – E&P, Transport and ...