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Energy & Environment
OMV Petrom brings Romania the best ranking at the global Datathon Challenge competition
Thursday, March 14, 2024
Cristina Daniela Nicolaescu, representative of the OMV Petrom financial team, ranked sixth worldwide in the Datathon Challenge "Equity in Healthcare" competition, held under the auspices of "Women in Data Science" (WiDS), a competition annual international competition launched by Stanford University.The global competition, in which over 1,600 experts in Data Science, from over 100 countries competed, was organized within the fourth edition of WiDS Romania 2024, supported by ...
EnergMin Burduja:The state-aid scheme approved by the EC will strengthen Romania's status as regional energy leader
Thursday, March 14, 2024
The European Commission (EC) approving the two-way contract for difference aid scheme will allow Romania to continue exporting energy and consolidate its status as a regional leader in the energy sector, Energy Minister Sebastian Burduja says.According to a press release issued by the Energy Ministry on Friday, the European Commission has approved a EUR 3 billion (RON 15.22 billion) Romanian scheme to support installations producing electricity from onshore wind and solar ...
Romania to send statement to ICJ, arguing that all states must reduce greenhouse gas emissions
Thursday, March 14, 2024
The Government approved the text of the declaration that Romania is going to send to the International Court of Justice (ICJ) and through which it claims that all states must significantly reduce their emissions of greenhouse gases.According to a press release, the Government approved the text of the written statement that Romania is going to send in the procedure by which the UN states decided to request the International Court of Justice for an advisory opinion on ...
Rompetrol Rafinare has started the general turnaround of Petromidia Refinery
Thursday, March 14, 2024
Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), has started the general turnaround of the Petromidia refinery, scheduled for the period March 8 - April 26, an extensive project aimed at the maintenance, recertification and modernization of the production units of the largest refinery in Romania. During the first stage of the turnaround, all installations will stop their operational processes, the oil product will be ...
Romania foresees rise in gas usage despite Council reduction agreement
Thursday, March 14, 2024
Energy Minister Sebastian Burduja foresees a rise in gas consumption in Romania, despite the political agreement reached at the EU Council on Monday on a recommendation to continue coordinated demand reduction, www.euractiv.com reads. Romania does not expect to reduce its gas ...
Hidroelectrica puts hydro unit 5 from Iron Gates I back into operation
Thursday, March 7, 2024
Hidroelectrica completed, on Monday, the part of preparation and tests for hydro unit number 5 from the Iron Gates I /Portile de Fier I Hydroelectric Power Plant in southwestern Romania, on the Danube river, and put the technical objective back into operation, the company informs, through a press release.On February 1, 2024, at around 8:30 p.m., Portile de Fier Hydropower Plant was affected by a fire at the transformer related to the previously mentioned hydro unit. ...
The EC approves a state aid of 3 billion euros granted by Romania to support onshore wind installations
Thursday, March 7, 2024
The European Commission has approved a €3 billion (RON 15.22 billion) Romanian scheme to support installations producing electricity from onshore wind and solar photovoltaic to foster the transition towards a net-zero economy, in line with ...
Commission approves prolongation and amendment of Romanian State aid scheme to support high-efficiency cogeneration of electricity and heat
Thursday, March 7, 2024
The European Commission has approved, under EU State aid rules, the prolongation and amendment of a Romanian scheme to support the production of electricity and heat from high-efficiency cogeneration installations connected to district heating networks in Romania. The scheme was originally approved ...
Eurowind Energy starts construction of Teius solar park in Romania
Thursday, March 7, 2024
After the launch of works last year on its Pecineaga wind power plant in Romania, Eurowind Energy is now building the Teius solar park of 60.2 MW in the Transylvania region, https://balkangreenenergynews.com/ reads. Romania is undergoing a solar boom, currently ...
Romania to provide Ecuador power grid modernisation consultancy
Thursday, March 7, 2024
Romania will provide Ecuador consultancy on the modernisation of the power grid under a programme that continues dialogue on this subject, as well as the subsequent technical stages, according to a press statement released by the Chamber of Commerce and Industry of Romania (CCIR) on Wednesday.CCIR Chairman Mihai Daraban on Tuesday had a series of working meetings with officials of the central authorities of Ecuador: Vice-President Ecuador's Parliament Eckenner Reader ...
Retele Electrice Dobrogea completed the modernization of high voltage lines through a project worth approximately 11 million lei
Thursday, March 7, 2024
Retele Electrice Dobrogea (part of PPC group, previously called E-Distribu?ie Dobrogea) has completed a project worth approximately 11 million lei, which consisted in increasing the distribution capacity of four high-voltage overhead power lines in the Constanta – Medgidia – Mircea Vod? area and modernizing four primary substations in the same area. The project was co-financed from the European Regional Development Fund through the ...
Georgia, Azerbaijan, Hungary, and Romania will build electric cables across the Black Sea
Thursday, March 7, 2024
Georgia, Azerbaijan, Hungary, and Romanian authorities are considering possibly creating a joint company to lay an electric cable under the Black Sea, https://radar.am/ informs. Georgia's Economy Minister, Levan Davitashvili, called laying the underwater electric cable an ambitious initiative. He said this will be crucial in ...
Rompetrol Rafinare recorded losses in 2023
Thursday, March 7, 2024
Rompetrol Rafinare, a member company of the KMG International Group, recorded, in 2023, a decrease in financial indicators, on the background of the volatility of international quotations for crude oil and refined products. Quotations continued their downward trend, reaching in 2023 a decrease of 14% for gasoline and 21% for diesel. Thus, the gross turnover was 5.3 billion dollars, in 2023, a 19% decrease compared to the previous year, the operating ...
Transgaz net profit down 56 pct in 2023
Thursday, March 7, 2024
National Gas Transmission Company Transgaz recorded a gross profit of 198.679 million RON in 2023, down 238.795 million RON (-55%) compared to the previous year, while net profit was 159.962 million RON, down 205.793 million RON (minus 56%), according to preliminary data sent to the Bucharest Stock Exchange on Thursday.Revenues from operating activities before balancing and construction activities were higher than those realized as of December 31, 2022 by 9% (plus ...
Nuclearelectrica closes 2023 with rd 2.5 bn RON in profit
Thursday, March 7, 2024
Societatea Nationala Nuclearelectrica recorded a net profit of almost 2.5 billion RON in 2023, 10.2% lower than the one obtained in 2022, according to preliminary data submitted to the Bucharest Stock Exchange on Thursday.EBITDA decreased last year by 13.1%, to 3.1 billion RON, while revenues from the sale of energy increased from 6.3 billion RON in 2022 to 7.4 billion RON in 2023.Energy production totaled 10,294 GWh, being 0.9% higher compared to the ...
Electrica Group profit, up by 11% in 2023
Thursday, March 7, 2024
The Electrica Group recorded a net profit of 620.4 million RON in 2023, up by 61.6 million RON (plus 11%), according to preliminary data submitted on Thursday to the Bucharest Stock Exchange.The company's report states that the result was generated mainly as a result of the performance of the distribution segment, in the context of the decrease in electricity costs to cover OTC (own technological consumption), as a result of the implementation of the MACEE centralized ...
Green House Photovoltaic Panels program gets record-high RON 2bn budget
Thursday, February 29, 2024
The Green House Photovoltaic Panels program is the most popular program run by the Environmental Fund Administration (AFM), so that a record-high budget of two billion RON was allocated for this year's relevant applications, AFM said in a release.The government approved at its Wednesday meeting AFM's budget for the current year, which provides for an allocation of RON 300 million for registrations within the Rabla Classic car scrappage program.RON 600 ...
Electrica officially included in FTSE Russel Global Equity Index Series
Thursday, February 29, 2024
Power distribution and supply company Electrica was approved for inclusion in the FTSE Global Equity Index Series (GEIS), and will effectively join the FTSE Russell indices starting with the March 18, 2024 trading session, the company said in a report submitted to the Bucharest Stock Exchange.The indices committee of global provider of benchmarks and indices FTSE Russell confirmed on Tuesday evening that Electrica shares comply with all the criteria for inclusion in the ...
SEE Countries Move At Varied Speeds In Grid Modernisation, Energy Storage
Thursday, February 29, 2024
Bulgaria, Croatia, Greece, Romania, Serbia and Slovenia already comply with the EU’s 2030 target for 15% grid interconnection compared to installed power, but the expected flurry of capacity additions, especially in terms of renewable energy, necessitates new projects to avoid clogs. Individual country plans in that regard seem encouraging but there are significant discrepancies at the regional level. These varied speeds of development are even ...
Engie Romania's Richard: Gas reserves, opportunity for Romania to make gradual transition to green energy
Thursday, February 29, 2024
The country's gas reserves represent an extraordinary opportunity for Romania to make a gradual transition to green energy, Engie Romania CEO Nicolas Richard told a specialist event on Tuesday.When we talk about the energy transition, we are actually talking about several perspectives: the first one refers to the energy mix, that is how we produce, how we consume. The second, which is very important, concerns everything related to resilience, system ...