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Energy & Environment
Nuclearelectrica confirms plans to replace coal-power plants with small nuclear reactors
Thursday, November 25, 2021
The locations of the small-sized nuclear reactors in Romania will be decided under a study that started last year, but some of them may coincide with the coal-fired power plants that were closed or are going to be closed, confirmed Teodor Chirica - CEO of Romanian nuclear company Nuclearelectrica, which recently sealed with the US peer NuScale a memorandum for the development of such power generation units across the ...
EC includes second stage of BRUA pipeline among critically important projects
Thursday, November 25, 2021
The European Commission on Friday (November 19) approved the fifth list of Projects of Common Interest in the field of trans-European energy infrastructure, a list that includes several projects in Romania - especially the second phase of the BRUA (Bulgaria - Romania - Hungary - Austria) pipeline ...
Romania's Jan - Sep coal production up 20.8 pct YoY
Thursday, November 25, 2021
Romania's net coal production over January - September 2021 amounted to 2.404 million tons of oil equivalent (toe), up 20.8 percent (413,200 toe) from the same period of 2020, according to data released by the National Institute of Statistics (INS).In the reporting period Romania imported 353,600 toe of net coal, by 41,200 toe (13.2 percent) more y-o-y.Estimates by the National Strategy and Prognosis Commission (CNSP) see this year's coal ...
Competition Council authorizes takeover of shares from National Uranium Company by Nuclearelectrica
Thursday, November 25, 2021
The Competition Council authorized the transaction by which Nuclearelectrica takes over from the National Uranium Company shares of the technical processing line of uranium concentrate of E Refinery Works – Feldioara branch, according to a press release. The main activity of Nuclearelectrica is producing electric and thermal energy by nuclear procedures and producing nuclear fuel by using CANDU 6 ...
Romania, US discuss potential cooperation on offshore wind resources
Thursday, November 18, 2021
Romanian and American officials discussed on November 11, in Washington, about a possible bilateral collaboration for the installation of offshore wind farms in the Black Sea, in the broader context of the bilateral cooperation in the field of energy, with particular attention to the implementation of the Intergovernmental Agreement for cooperation on Romania’s nuclear power program signed last ...
Romanian gas producers to no longer be taxed based on Vienna price
Thursday, November 18, 2021
Romanian gas producers will no longer be taxed based on the reference price of the Vienna gas market, but the Romanian market price will be take into consideration, the Acting Minister of Energy, Virgil Popescu, declared on Wednesday, during the Focus Energetic conference."We have a complicated winter as a result of market turbulence. I am convinced that we will get through it fine, the stocks are within parameters. There are gas stocks ...
Oltenia Energy Complex expects restructuring plan to be approved by European Commission in January 2022
Thursday, November 18, 2021
The European Commission could approve the restructuring plan of the Oltenia Energy Complex in January 2022, after the company proves that there are investors interested in its development projects, the chairman of the Oltenia Energy Complex board, Daniel Burlan said on Wednesday."At the last analysis, the representatives of the European Commission appreciated the progress made by Romania and showed that only time separates us from a favorable decision. We ...
Crude oil imports increase by 4.3 pct in first nine months of 2021
Thursday, November 18, 2021
Romania imported, in the first nine months of 2021, over 5.189 million tons oil equivalent (toe) of crude oil, by 212,400 toe (4.3 pct) more than the quantity imported in the similar period of 2020, according to data centralized by the National Institute for Statistics (INS).Crude oil production rose to nearly 2.34 million toe, being 4.4 pct (106,500 toe) lower compared to the production of the previous year.According to the ...
Restart Energy implements a solar project worth 360.000 euro for Avastar
Thursday, November 18, 2021
Restart Energy, one of the largest independent energy suppliers for electric energy and gas on the local market, announces signing a contract worth 360.000 euros with Avastar company, for installing a photovoltaic project with a power of 570 kWp. The project involves 1.140 photovoltaic panels, covering 3.400 sqm, installed on the rooftop of Avastar slaughterhouse in Liteni, Suceava ...
OMV Petrom may announce EUR 10 bln investments by 2030
Thursday, November 18, 2021
OMV Petrom announces that, on December 7, 2021, the company will ...
Hidroelectrica’s profit doubles in Jan-Sep on higher output and price
Thursday, November 18, 2021
Romanian state-controlled hydropower group Hidroelectrica, in the process of diversifying its production base to include new renewable resources, reported a record net profit of RON 2.65 bln (over EUR 0.5 bln) in January-September this year, more than double (+103%) compared to the same period last year. The company’s revenues increased by 70% YoY as the sales from own production expanded by more ...
Romgaz reports 22.7% higher net profit in Jan-Sep
Thursday, November 18, 2021
In the first nine months of 2021, Romgaz Group announced that its revenues rose by 19.8% YoY to RON 3.50 bln. In Q3 alone, its consolidated revenue increased by 71.9% YoY. The Group’s net profit increased slightly steeper, by 22.7% YoY to RON 1.156 bln. Consolidated net profit per share (EPS) was RON 3.0, 22.7% higher than the one recorded in the first nine ...
Core Value Capital plans 1GWh PV parks in Romania
Thursday, November 18, 2021
Austrian investment fund Core Value Capital envisages investing EUR 800 mln in Romanian photovoltaic projects with a total capacity of 1GW over the next seven years. However, in the meantime, it purchased two hectares in southern Bucharest, where it will develop a 550-apartment project, according ...
The independent gas producer Amromco files for insolvency
Thursday, November 18, 2021
Amromco Energy, for a long time the third-largest natural gas producer in Romania in terms of output after Romgaz and OMV Petrom, has officially filed for insolvency after it failed to amend or even suspend contracts signed in advance with its ...
The battle for gold in Rosia Montana: What Romania risks
Thursday, November 18, 2021
The World Bank Tribunal in Washington (ICSID) began deliberations in the case opened by the Canadian company Gabriel Resources against Romania, which has been going on for six years, ...
Energy consumption up 5.6pct in Jan-Sep
Thursday, November 18, 2021
Romania's national electricity consumption was 5.6pct higher in the first nine months of the year, compared to the same period last year, reaching 41.4 TWh, according to a statement from the National Institute of Statistics (INS).The consumption of the population increased the most, by 7.7pct, followed by the industrial consumption, with an increase of 5pct.In the same period, the production was 44.5 TWh, higher by 7.8pct. Production in ...
Electrica Group: Net profit down by RON 324 million January through September
Thursday, November 18, 2021
Electrica Group obtained, in the first nine months of this year, a consolidated net profit of RON 72 million, down by 324 million lei compared to the RON 396 million recorded as profit in the same period of 2020, according to a press release issued by the company on Friday.The decrease was mainly generated by the significant increase in the costs of purchasing electricity, which climbed by 23.4 pct, to RON 3.423 billion, the source ...
Romania drops eight spots in the Climate Change Performance Index
Thursday, November 18, 2021
Romania ranks 38th in the Climate Change Performance Index (CCPI) 2022 published by Germanwatch, NewClimate Institute and the Climate Action Network. The country dropped eight spots from last year, when it ranked ...
Wind and PV energy producers in Romania concerned about windfall tax levied by Govt.
Thursday, November 18, 2021
The green energy associations in Romania, mainly owners of wind farms and PV parks, warned that the so-called windfall tax levied by the Government on surplus revenues derived by all energy producers - except for those burning fossil fuels - is not solving but rather deepening the energy crisis. Under law 259/2021, the 80% tax levied on revenues generated from the sale of power by power generators ...
Econergy and Nofar join forces to develop biggest Romanian PV park
Thursday, November 18, 2021
International independent power producer (IPP) of utility-scale renewable energy projects Econergy and Nofar Energy, an international renewables company based in Israel with renewables projects in Israel, Spain, Italy, the United States, completed the acquisition of a ready-to-build 155MW photovoltaic (PV) Romania from Portland Trust. The 155MW project is planned to be the largest of this kind in ...