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Energy & Environment
Winkler: Romania can reach energy independence before 2026
Thursday, March 31, 2022
Romania is among the few countries in the European Union with the necessary potential to reach the objective of energy independence before 2026 or 2027 but in order to do that they need to use all available resources of European financing, stated, recently the MEP Iuliu Winkler (UDMR, PPE). Recently, the European commissionaire for energy Kadri ...
Half of Transgaz accounting profit, for package of measures in energy field
Thursday, March 31, 2022
The Government has approved, on Wednesday, to distribute to the the state budget for financial exercise of last year under the form of dividends, with a 50% share of accounting profit of the Transgaz National Gas Transmission Company, with the money to be used for supporting the package of energy measures for protecting the population."A Government decision was adopted regarding the approval of distribution to the state budget for the financial ...
Steinhardt Development plans 25MW PV park and tourist attraction on land of former copper plant
Thursday, March 31, 2022
Steinhardt Development, a company owned by Brasov-based businessman Cristian Costel Eftinca, bought a 37ha portion of the former copper plant Cuprom Baia Mare last year and has already received the urban planning permit to develop a photovoltaic park on the site. The park would have a capacity of 25 MWp and be equipped with charging stations for electric ...
CE Oltenia seeks temporary staff to boost mining operations
Thursday, March 31, 2022
Coal and power group CE Oltenia (CEO), one of Romania's largest energy producers, is reportedly hiring personnel under contracts for a pre-determined period in order to extract more coal and increase its electricity ...
KMG International: Press release
Thursday, March 31, 2022
In the context of the recent incident in the port of Novorossiysk, which affected the ability to load crude oil from the Caspian Pipeline Consortium (CPC) pipeline, KMG International Group confirms that it does not experience difficulties in supplying raw materials and there are no elements that could lead, in the next period, to a reduction in the volume of oil products and deliveries at national level, but also in the ...
Hidroelectrica expects robust revenues this year, ahead of possible IPO
Thursday, March 31, 2022
State-owned Romanian company Hidroelectrica, the largest electricity producer in the country, expects its revenues to rise by 11% to RON 7.4 bln (EUR 1.5 bln) this year, while its net profit would edge down by 8% to RON 2.9 bln, still delivering an outstanding net profit margin of nearly 40%. At a dividend payout ratio of 85%, this would generate RON 2.47 bln (EUR ...
Romgaz approves 1 billion euro transaction with Exxon for Black Sea gas
Thursday, March 24, 2022
The management of Romanian state-controlled natural gas company Romgaz summoned for April 28 the representatives of the shareholders to endorse, once again, the USD 1.06 bln deal with ExxonMobil involving half of the offshore perimeter Neptun Deep in the Black Sea, the company announced in a note to investors. The company’s management estimates that the ...
Minister Of Energy: Exploitation of Black Sea gas kicked off
Thursday, March 24, 2022
Romania will have natural gas from other sources next winter, including from the Black Sea, and starting this year we will have one billion cubic meters of additional gas, announced the Minister of Energy, Virgil Popescu. “Romania will have gas from other sources next winter, including the Black Sea. Black Sea Oil & Gas has already begun to be exploited by Black Sea Oil & Gas. Tests are ...
State aid of over 43 million lei for the closing down of the mines Lonea and Lupeni
Thursday, March 24, 2022
The government approved, in the meeting on Friday, the state aid worth over 43 million lei for the closing down of the mines in Lonea and Lupeni, considered to be non-competitive, part of the energy complex Hunedoara –S.A, in insolvency for 2022. ‘The energy complex Hunedoara will receive a state aid for the closing down of the non-competitive coal mines (Lonea and ...
Gov't approves one-year cap on electricity and gas prices
Thursday, March 24, 2022
The government approved on Friday the Emergency Ordinance capping electricity and gas prices for one year, for both household and industrial consumers, Energy Minister Virgil Popescu wrote on Facebook."One more year of government support for the Romanians' energy bills! The new measures coming in force on April 1 benefit 8 million households for electricity, and all households connected to the grid for natural gas, regardless of consumption. ...
Fitch downgrades Electrica to 'BBB-'; maintains negative outlook
Thursday, March 24, 2022
Fitch Ratings has downgraded Electrica SA's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BBB' and maintained the Negative Outlook, a release from the financial assessment agency informs.The Standalone Credit Profile (SCP) of Electrica has also been revised to 'bbb-' from 'bbb'.''The rating actions reflect Electrica's extremely weak performance in 2021, due to abnormally high energy procurement costs needed to cover its ...
Econergy expands footprint in Romania with another PV project
Thursday, March 24, 2022
Israel based international independent power producer (IPP) of utility-scale renewable energy projects Econergy will expand its presence in Romania, where it already invested EUR 1.5 bln, with another photovoltaic (PV) project estimated at EUR 50 ...
The electricity grids of Ukraine and the Republic of Moldova ‘connected’ to the European grid, EU announces
Thursday, March 17, 2022
The Ukrainian electricity grid is ‘connected’ to the European grid, announces on Wednesday the French minister of Ecological Transition Barbara Pompili, whose country has the presidency of the EU, AFP says. ‘We committed to this, and we did it. The Ukrainian electricity grid which functioned isolated at the beginning of the war is connected starting this morning to the ...
Presidents Iohannis, Radev discuss speedy commissioning of Bulgaria - Greece interconnector
Thursday, March 17, 2022
The Presidents of Romania and Bulgaria Klaus Iohannis and Rumen Radev discussed on Tuesday the diversification of energy sources and transport routes amid efforts to reduce energy reliance on the Russian Federation."With the mounting need to reduce energy reliance on the Russian Federation, we discussed the diversification of energy sources and transport routes. We also emphasized the importance of the speedy commissioning of the ...
Iohannis: I've talked to Azerbaijani President Aliyev about strengthening our energy cooperation
Thursday, March 17, 2022
President Klaus Iohannis had a telephone conversation with his Azerbaijani counterpart Ilham Aliyev on Wednesday about strengthening energy cooperation."A very good phone call with the President of Azerbaijan, Ilham Aliyev, about strengthening and expanding the Strategic Partnership between Romania and Azerbaijan in all areas of cooperation, in the context in which we celebrate 30 years of diplomatic relations. I spoke with President ...
Ciuca: Government supports speeding up the sustainable development of energy production capacities
Thursday, March 17, 2022
The Government supports the sped up of efforts aimed at the sustainable development of energy production capacities and endorses investors who contribute to this strategic approach, Prime Minister Nicolae Ciuca said at a meeting on Wednesday with the representatives of the EDP Renewable group, among the most important investors in green energy production in Romania.According to a release from the Executive, the dialogue emphasized the need for a framework ...
Virgil Popescu: Government approves emergency order that saves Oltenia Energy Complex
Thursday, March 17, 2022
Energy minister Virgil Popescu announced on Thursday that the government had approved the emergency order that saves Oltenia Energy Complex. “We are talking about turning to account the restructuring decision as state aid of 2.6 billion euros, approved by the European Commission on January 26, 2022 for the period of time 2021-2025. We are talking about 896 million euros from the modernization fund ...
Jiu Valley mines produce 1,000 tons of coal daily
Thursday, March 17, 2022
The four coal mines in Jiu Valley have reached an average production of 1,000- 1,100 tons a day, coal being used at Paroseni thermopower plant, part of Hunedoara Energy Complex (CEH). “At present we succeeded to increase coal production, yielding 1,000-1,100 tons per day and I hope that in the next period we will succeed to produce even more. There are four mines in the Jiu Valley – Lonea, ...
EU countries eye coal over gas supply fears
Thursday, March 17, 2022
Several EU countries have put their coal phase-out plans on hold as to continue would mean relying on natural gas imports from Russia. Instead of investments in gas infrastructure, renewables or other alternatives, the extension of coal mining is considered the quickest and most viable solution, euractiv.com reads. “There is a temporary role for coal, which we had ...
The government is reassuring there are no problems with fuel stocks
Thursday, March 10, 2022
The spokesperson of the government, Dan Carbunaru said, on Wednesday that ‘there are no problems with fuel stocks and premier Nicolae Ciuca required checks on the filling stations, after, in several areas of the country, there were long lines at the stations, the Romanians wanting to buy petrol, due to the worries concerning the increase of the fuel price. A short time after, minister of energy, Virgil Popescu said that Romania has no problem with ...