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Energy & Environment
EnergMin Popescu:Romania can act as important transit country for transporting Azerbaijan gas further to Europe
Thursday, June 1, 2023
BAKU, Azerbaijan, May 31. Romania can act as an important transit country for transport of gas volumes from Azerbaijan, Romania's Minister of Energy Virgil-Daniel Popescu said in an exclusive interview with Trend on the occasion of the Baku Energy Week. "Romania and the Republic of Azerbaijan ...
President Iohannis calls for review of law on electricity and gas market measures
Thursday, May 25, 2023
President Klaus Iohannis on Wednesday sent to Parliament for review legislation on measures applicable to end customers in the electricity and natural gas market between 1 April 2022 and 31 March 2023, as well as for amending and supplementing certain energy legislation. "We consider that some of the provisions newly introduced by the law approving GEO 153/2022 are likely to generate dysfunctions and imbalances in ...
NuScale Power joins Romanian Atomic Forum ROMATOM
Thursday, May 25, 2023
NuScale Power joined the Romanian Atomic Forum (ROMATOM) as a supporting member of the association's objectives for the development of nuclear energy projects and for the development of the future generation of experts, engineers and operators in advanced nuclear technology in Romania."This decision demonstrates NuScale's commitment to the development of clean nuclear energy with small modular reactor (SMR) technology in Romania and in the European region and ...
Romania, a pillar of stability through cable project connecting Caspian Zone to Europe
Thursday, May 25, 2023
The project of the cable that will connect the Caspian Zone to Europe shows that Romania is ready to prove that it is a pillar of stability in the area and sits at the table of important players in the energy sector, said, on Monday, George-Sergiu Niculescu, the chairman of the National Regulatory Authority in Energy (ANRE).According to the Agreement signed in Bucharest on December 17, 2022, the cable that will connect the Caspian Zone to Europe will cross Azerbaijan, ...
EnergMin: We wish to fully supply Rep. of Moldova with energy and natural gas from Romania
Thursday, May 25, 2023
Energy Minister Virgil Popescu said on Monday that Romania wishes to fully and completely supply the Republic of Moldova with energy and natural gas from Romania, and he mentioned the memorandum approved last week in the Government on strengthening energy cooperation with the neighbouring country,Asked about the energy relationship with the Republic of Moldova, Virgil Popescu stressed that "it is a priority for us, both in terms of natural gas and electricity ...
Romania wants to reach 10 GW renewable energy by 2027
Thursday, May 25, 2023
Romania wants to reach 10 GW of renewable energy by 2027, and in the next two to three years another 3 GW will be put into the grid, Energy Minister Virgil Popescu announced on Monday."In June we will complete the evaluation and signing of contracts for the almost 3 GW of renewable energy, solar and wind, through the PNRR, because there has been an oversubscription of projects. We have a lot of projects, in total almost 3 GW of renewable energy. This means that in the next ...
OMV Petrom gets 39 million EUR financing through PNRR for green hydrogen production at Petrobrazi
Thursday, May 25, 2023
OMV Petrom has signed with the Ministry of Energy a financing contract through the National Recovery and Resilience Plan (PNRR), with a maximum value of about 39 million EUR, for the construction of a hydrogen production facility through water electrolysis at the Petrobrazi refinery, the company informed on Monday.The total investment is estimated at around 74 million EUR."We believe that Romania has significant potential for the development of green energy ...
Plans afoot for Romanian solar park with installed capacity exceeding that of Cernavoda n-reactor
Thursday, May 25, 2023
A solar power park with an installed capacity higher than that of a Cernavoda nuclear reactor will be built in Romania in a move that reflects the investors' appetite to return to this market, president of the National Energy Regulatory Authority (ANRE) George-Sergiu Niculescu said on Thursday."Since I took over at ANRE, I've seen an application for an establishment license - I think this is the largest facility so far, a solar power park of approximately 1,050 MW, this is ...
Enel Green Power gets permission for wind farms of 513 MW in eastern Romania
Thursday, May 25, 2023
Renewable electricity division Enel Green Power Romania, in the process of being taken over by the Greek PPC, has obtained the permit to connect to the national grid a number of 4 wind farms in Potoc commune, Caras Severin County, with a cumulative installed power of 513 MW. The estimated deadline for completion and commissioning is the end of 2026 for 2 of the parks, respectively, the end of 2028 for the other ...
ENGIE Romania: New CEO Nicolas Richard, Eric Stab becomes CEO of ENGIE Germany
Thursday, May 25, 2023
ENGIE Romania announces that, after 13 years of activity in Romania, Eric Stab will end his mandate as CEO of ENGIE Romania, as of June 1, and will continue his professional career within the ENGIE group, as CEO of ENGIE Germany. At the same time, Eric Stab will retain his position as President of the Board of Directors of ENGIE Romania and will continue to supervise the Networks and Infrastructure ...
ORSE: Romania needs to invest in building rehabilitation through REPowerEU
Thursday, May 18, 2023
High heating costs, caused by inefficient buildings and heating/heating systems, are the main source of vulnerability and energy poverty, and, in this regard, funds should be allocated primarily to the thermal energy rehabilitation of housing, say experts from the Romanian Observatory on Energy Poverty (ORSE). Similarly, according to ORSE experts vulnerable consumers must be supported to have access to ...
Transgaz reported a net profit dropping by 53%after the first quarter
Thursday, May 18, 2023
The National Society for Transport of Natural Gas Transgaz recorded in Q1 2023 an individual net profit of 125.37 million lei, dropping by 53% as compared to the one in the similar period of 2022, according to the individual financial results sent on Monday to the Stock Exchange Bucuresti.The income in the domestic transport activity dropped during January-March 2023 by 4% at 393.76 million lei and those in international transport and ...
Electrica Group narrows its Q1 2023 loss to 67 million RON net
Thursday, May 18, 2023
Electrica Group narrowed its Q1 net loss to 67 million RON from 158 million RON in Q1 2022, while the group's EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 220 million RON to a positive 170 million RON, Electrica said in a statement.In Q1 2022 Electrica posted a negative EBITDA of 51 million RON.The operating revenues for the first three months of 2023 amount to 3.533 billion RON, up from the 3.258 billion ...
Hidroelectrica, included in stock market indices
Thursday, May 18, 2023
The Bucharest Stock Exchange (BVB) Index Committee decided in its extraordinary meeting on May 12 the inclusion of Hidroelectrica shares in the stock market indices, starting with the company's first day of trading on the stock exchange, according to a BVB press release.Thus, the Index Committee decided to approve the inclusion of Hidroelectrica SA in the BET, BET-TR, BET-TRN, BET-XT, BET-XT-TR, BET-XT-TRN, BET-BK, BET-NG and BET Plus indices ...
Rompetrol Rafinare ends first quarter of 2023 with net profit of 14.5 million dollars
Thursday, May 18, 2023
Rompetrol Rafinare, a member company of the KMG International Group, recorded, in the first quarter of 2023, a net profit of 14.5 million dollars, compared to losses of 132.8 million dollars reported at the end of March 2023, according to a release sent on Monday."Rompetrol Rafinare (...) reached, in the first quarter of 2023, a consolidated gross turnover of about 1.3 billion dollars, up 10% compared to the same period last year. The evolution was ...
Energy Minister, Solar Impulse Foundation head assess Romanian energy sector, clean technologies
Thursday, May 18, 2023
The Romanian energy sector was analysed on Monday by Energy Minister Virgil Popescu, together with Bertrand Piccard, President of the Solar Impulse Foundation, UN Ambassador for the Environment and Special Advisor to the European Commission."Today I had a working meeting with one of the great explorers of aviation, Bertrand Piccard, President of the Solar Impulse Foundation, UN Environment Ambassador and Special Advisor to the European Commission. He has ...
Household electricity consumption down 15 pct in the first three months
Thursday, May 18, 2023
Final electricity consumption was 12.694 billion kWh in the first three months of this year, down 8.8% compared to Q1 2022, according to data published Monday by the National Institute of Statistics (INS).Final electricity consumption in the economy fell by 6.4%, public lighting by 29.1% and household consumption by 15.1%.Domestic electricity production totalled 4.643 million toe, up 147,900 toe (+3.3%) year-on-year, while imports ...
Virgil Popescu: Reinforcing Romania's energy transmission network as part of strategy to increase green energy production
Thursday, May 18, 2023
The minister of energy, Virgil Popescu has discussed on Friday with the representatives of the companies Taqa, Meridiam, Fluor, Transelectrica and E-Infra about the possible involvement in the project of the High Voltage Direct Current Line (HVDC)5000 MW on the Romanian territory, on the corridor of the BRUA gas main and the future Tuzla-Podisor main. ‘We strengthen the ...
First E2 Centre in Europe to run NuScale SMR simulator, launched at Politehnica University of Bucharest
Thursday, May 18, 2023
The first Energy Exploration Centre (E2 Centre) in Europe to run the NuScale small modular reactor (SMR) simulator was inaugurated on last Friday at Politehnica University of Bucharest."Today we inaugurated and will inaugurate for the whole society a product that is not only aimed at a small group of people (but) for the entire society. A simulator that puts in front of students, teachers a complex activity as if we were in a nuclear power ...
Oil Terminal achieves net profit of almost 23.4 million RON in Q1, 2023
Thursday, May 18, 2023
Oil Terminal ended the first quarter of this year with a net profit of 23.39 million RON and a turnover of 85.615 million RON, according to the data submitted Friday by the Bucharest Stock Exchange.The company's revenues totaled 87.53 million RON and its expenses amounted to 60.31 million RON.Gross profit was 27.2 million RON, 23.5 million RON higher than the budgeted level for the period, as the approved physical program for the first 3 months ...