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Energy & Environment
PM Ciuca: We have as first objective the opening of the interconnector between Greece and Bulgaria
Thursday, March 10, 2022
Premier Nicolae Ciuca stated on Sunday, at Digi 24 that Romania does not have any risk to remain without gas and that we have as first objective to open the interconnector between Greece and Bulgaria, so that starting with the autumn we can use American liquified gas. About the offshore law, the head of the executive said that the leaders of the coalition committed to bring it into the ...
Prime Minister discusses with representatives of energy companies solutions to increase the level of energy independence
Thursday, March 10, 2022
Prime Minister Nicolae Ciuca on Tuesday spoke with representatives of Romelectro, Hidroconstruct, Hidroelectrica, Oltenia Energy Complex and Hunedoara Energy Complex to identify solutions for developing the national electricity production capacity, analyzing the measures to increase the level of energy independence of Romania starting this year.According to a Government release, the working meeting was also attended by the Secretary General of the Government, ...
Petromidia under cyberattack
Thursday, March 10, 2022
Rompetrol Rafinare (RRC), the company that operates Romania's largest refinery Petromidia, faced a "complex cyber attack" during the night of March 6 to 7, it announced in a note to ...
Govt. seeks ways to increase local power generation quickly
Thursday, March 10, 2022
In a meeting with representatives of the main power generation companies in the country, Romanian prime minister Nicolae Ciuca and minister of energy Virgil Popescu reviewed the options for increasing the installed generation capacity in the short term, until next year. Thus, the coal and power group CE Oltenia will increase the operating capacity by 300 MW, and Romgaz will complete the gas-fired power ...
Senate President Citu: 600 people to be hired back in coal mining industry
Thursday, March 10, 2022
Senate President Florin Citu announced on Wednesday that 600 people will be hired back in the coal mining industry, which will help bolster Romania's energy resources by 300 MW."Yesterday there was a longer discussion on energy. The Prime Minister met last night with representatives of the Muntenia and the Hunedoara energy complexes in a bid to restart these coal-fired capacities. It's clear that in this complicated situation, the entire Europe is ...
Petromidia Navodari closes for technological turnaround
Thursday, March 10, 2022
Romania’s biggest oil refinery – Petromidia Navodari – will suspend its operational activity between March 11 and April 3 for a scheduled technological turnaround. The refinery is operated by Rompetrol Rafinare, a member company of the KMG International Group (KMGI), which is listed on the Bucharest Stock Exchange. During the maintenance period, works will be carried out to ...
EnerMin Popescu: We will have no issues with supply of natural gas
Thursday, March 10, 2022
Romania is looking at every single possibility regarding gas supply, and Azerbaijan certainly is a source and a supply route with natural gas, the Minister of Energy, Virgil Popescu, said on Monday, during a press briefing in Government."During the visit and joint government session with the Greek Government, we discussed about the interconnector between Greece and Bulgaria to operationalise the vertical corridor, in order to have access to gas from ...
Eurostat: Energy represented 62% of EU imports from Russia
Thursday, March 10, 2022
In 2021, Russia was the fifth largest partner for EU exports of goods (4.1% of extra-EU exports, equivalent to €89 billion) and the third-largest partner for EU imports of goods (7.5% ...
Offshore Law climbs up on the Romanian lawmakers' agenda
Thursday, March 10, 2022
The amendments to the Offshore Law, expected to unlock the natural gas projects in Romania's Black Sea perimeter, are likely to climb up fast in the agenda of the lawmakers after President Klaus Iohannis mentioned the energy independence (besides larger defense spending) as a strategic medium-term target. Iohannis, indeed in his speech on March 1, mentioned the nuclear and renewables sectors as elements of energy ...
The Green Brief: A turning point for fossil fuels
Thursday, March 10, 2022
Russia’s war on Ukraine has put an end to years of cheap oil and gas, a situation expected to last well into next year which is prompting the EU to accelerate its shift to clean energy, https://www.euractiv.com/ ...
The EU analyzes an emergency synchronization of the energy system in Ukraine and the Republic of Moldova with the European one
Thursday, March 3, 2022
The Minister of Energy, Virgil Popescu, announced in a press release that the EU member states are analyzing the technical conditions for achieving an emergency synchronization of the energy system in Ukraine and the Republic of Moldova with the European one. Currently, the power systems of Ukraine and the Republic of Moldova operate in isolation from ...
Romania, willing to table BRHA pipeline, in order to bring gas from Azerbaijan to Europe
Thursday, March 3, 2022
Romania is willing to table the BRHA pipeline which can be an alternative route for supply in order to bring to Europe gas from Azerbaijan, said, on Monday, in Brussels, the Energy Minister, Virgil Popescu, before the extraordinary session of the Energy Council."We mustn't depend on a single major source of supply, there is need to diversify supply sources and routes. Romania is willing to table the BRHA pipeline, which was constructed as a European project ...
Producers of renewable energy ask the authorities to give up overtaxing revenue
Thursday, March 3, 2022
The Romanian Association for Wind Energy (RWEA), the Employers’ Organisation of Renewable Energy Producers of Romania (PATRES) and the Association for Photovoltaic Industry in Romania (RPIA) require the authorities to give up the measure of over taxing by 80% of the revenue made by the electricity producers, as well as the measure to suspend for a period of one year green certificates, not to endanger the production of green ...
Electricity distribution and supply group Electrica posts losses in 2021
Thursday, March 3, 2022
Energy company Electrica (BVB: EL), one of the largest electricity distribution and supply companies in Romania, reported for the year 2021 an unaudited consolidated loss of RON 552 mln (EUR 110 mln) compared to a profit of RON 387 mln achieved in 2020, according to the report sent to the Stock Exchange (BVB). The company has a market capitalisation of RON 3.46 bln (EUR 700 mln) after the price of its ...
Romgaz boasts 52% stronger earnings in 2021
Thursday, March 3, 2022
Romanian state-controlled gas company Romgaz (BVB: SNG) posted a strong RON 1.90 bln (EUR 380 mln) net profit in 2021, 52% stronger compared to 2021 and 74% higher than 2019, according to the preliminary financial results released by the company. The company’s market capitalisation is RON 14.7 bln (EUR 3 bln) after the price of its shares rose by 3.11% on the day the 2021 FY results were ...
Transgaz, net consolidated profit of over 166 million RON in 2021
Thursday, March 3, 2022
The National Company for Natural Gas Transmission Transgaz has recorded last year a net profit of 166.938 million RON, by 1.03% more than the previous year, according to consolidated interim results sent on Friday to the Bucharest Stock Exchange.Compared to the profit accomplished in 2020, the preliminary consolidated gross profit was higher by 16%, namely by 32.372 million RON, clocking in at 231.924 million RON.Incomes from the internal ...
Companies in Romania can access up to a maximum of EUR 30 M for investments in solar and wind energy
Thursday, March 3, 2022
The Ministry of Energy has announced the immediate availability of a funding package totalling approximately €600 million of non-reimbursable funds in the field of renewable energy, aimed at SMEs, large companies and start-ups alike, facilitating investments in the development of “green” solutions for companies operating in Romania, for projects where up to €15 million of funds can be accessed per eligible beneficiary or up to €30 ...
Gastrade announces that it submitted to RAE an application for a new Independent Natural Gas System (INGS) license
Thursday, March 3, 2022
Gastrade announces that it submitted to the Regulatory Authority for Energy of Greece (RAE) an application for a new Independent Natural Gas System (INGS) license. The new project, “Thrace INGS”, will consist of a Floating Storage & Regasification Unit and will be developed at the Sea of Thrace, offshore Alexandroupolis. The FSRU will have a storage capacity of 170,000 cbm of LNG and ...
Rompetrol Rafinare’s financial results in 2021
Thursday, March 3, 2022
Rompetrol Rafinare, a member company of the KMG International Group, managed to improve its financial indicators in 2021, amid a sales volume similar to the previous year, but also as a result of higher market quotations compared to similar periods from 2020. However, the company's consolidated results were impacted by the shutdown of operational processes, caused by the technical incident that occurred ...
PM Ciuca: Government close to finishing support measures in Energy sector
Thursday, February 24, 2022
The Government is close to finishing measures for protecting the population and the economy from the price evolution of electricity and gas, following that they will be announced on Thursday, after a new meeting of the inter-ministerial committee for energy, Prime Minister Nicolae Ciuca said on Wednesday, before the beginning of the gov't sitting."We are close to finishing the package of measures at the level of the Government in order to ...