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Energy & Environment
Rompetrol Refining results, improvement by six times in profit, in the first three months of 2021
Thursday, May 20, 2021
Rompetrol Rafinare, member company of the KMG International Group, managed, in the first three months of the year, a significant improvement of the financial indicators, compared to those recorded in the similar period of 2020 - the beginning of the COVID-19 pandemic in Romania and internationally. Furthermore, the company's results are influenced by the volatility in the market environment and the effects caused by the COVID-19 pandemic, the company says în the ...
The price of energy on the stock exchange has increased significantly, with more than 150% in April 2021 against the previous year
Thursday, May 20, 2021
The price of electricity on the spot market of the stock Exchange OPCOM ( the market for the next day – PZU) had an average of 309 lei/MWh in April 2021, with 150.6% more than the price registered during the same month of last year, lnamely 123 lei/MWh, according to the monthly report posted on the site of the stock exchange operator. The total value of tradings was 765.7 million lei, up by 218% against April 2020 ( ...
The net profit of Oil Terminal Constanta has increased by 58% in Q1
Thursday, May 20, 2021
The Oil Terminal Constanta company, the state-run operator of the oil terminal at t he Black Sea has recorded in Q1 this year a net profit of 6.34 million lei, up by 58% from 4 million lei during the similar period of 2020 and the turnover increased by 7%, at 47.82 million lei, from 44.63 million lei in Q1 of 2020. The turnover made in Q1 2021 is 47,827.652 lei. Against the same period of the previous year there was an ...
OMV Petrom closes the divestment of the production assets in Kazakhstan
Thursday, May 20, 2021
* The transaction is part of OMV Petrom’s strategy to focus on the Black Sea region OMV Petrom, the largest energy company in Southeastern Europe, announces the closing of the sale transaction for its 100% shareholding in Kom-Munai LLP (KOM) and Tasbulat Oil Corporation LLP (TOC) in Kazakhstan to MAGNETIC OIL LIMITED. KOM and TOC hold the production licenses for ...
Romania's crude oil imports increase 8.6% in Q1
Thursday, May 20, 2021
Romania imported, in the first three months of 2021, a quantity of crude oil of 2.077 million tons of oil equivalent (toe), 164,200 toe (8.6%) higher than that imported during the similar period of 2020, according to data with the National Institute of Statistics (INS).Crude oil production totaled 773,100 toe, 6.8% (56,500 toe) lower than the previous year.According to the draft Energy Strategy, published on the website of the Ministry of Energy, it is ...
Electrica sees 28% profit drop in Q1 2021
Thursday, May 20, 2021
Electrica (EL), a group of electricity distribution and supply companies 49% controlled by the Romanian state, saw its net profit drop by 27.5% in the first quarter of 2021 compared to the same period of 2020 to RON 58 mln ...
Romgaz sees lower sales and lower profit in Q1
Thursday, May 20, 2021
Romanian state-controlled gas producer Romgaz (SNG) recorded a 7.2% drop in revenues in the first quarter of 2021 compared to the similar period of 2020 to RON 1.33 bln (EUR 270 ...
Nuclearelectrica ups profit by 9% in Q1
Thursday, May 20, 2021
Nuclearelectrica (SNN), Romania’s state-controlled nuclear power producer, recorded a net profit of RON 234 mln (EUR 47.5 mln) in the first quarter of 2021, up 9% compared to the same period of last ...
Romania to add 6.9GW of green power capacities by 2030
Thursday, May 20, 2021
Romania’s target of 30.7% green electricity, to be met by 2030, involves the addition of new renewable energy generation installations with a total capacity of 6.9GW, Ministry of Energy’s state secretary Dan Dragan said in a conference organised by ...
Mazarine Energy will invest in geothermal projects
Thursday, May 20, 2021
Many companies in the petroleum industry have already embarked or are considering embarking into geothermal developments. Mazarine Energy is among such companies that have an interest for such projects in Romania, said Spencer Coca, president of ROPEPCA, at the conference “Oil&Gas and ...
Sale of CEZ's Romania assets, designated "Transaction of the Year" at Energy CEO Forum&Awards Gala
Thursday, May 20, 2021
The sale of Romanian assets concluded between the CEZ Group and the funds administered by Macquarie Infrastructure and Real Assets (MIRA) after 18 months since the start of the divestment process received the award "Transaction of the Year" during the Energy CEO Forum & Awards Gala 2021, informs the company in a press release sent on Tuesday."2020 was a year full of challenges which the CEZ team transformed into opportunities and into promises kept to ...
Romgaz estimates a gross profit of 1.14 billion lei this year
Thursday, May 13, 2021
Romgaz, the gas producer, one of the most profitable state-run companies, estimates for this year a gross profit of 1.14 billion lei,at total revenue of 4.34 billion lei and decided to have investments of 1.292 billion lei. Romgaz Medias ( the parent company) is also single shareholder with Romgaz – Filiala de Inmagazinare Gaze Naturale Depogaz Ploiesti. Thus, ...
ANRE : the production of gas in the Black Sea must start in two to three years, otherwise it will be too late
Thursday, May 13, 2021
The production of gas from the Black Sea must start in 2-3 years, otherwise it will be too late and there we will not be able to extract these resources,stated on Monday Zoltan Nagy-Bege, vice-chairman of the National Association for the Regulation in Energy (ANRE). He took part in the online conference on the issue of energy transition, organised by the Council of Foreign Investors (FIC).‘We cannot afford the ...
End electricity consumption, up 0.5% in Q1
Thursday, May 13, 2021
End electricity consumption in the first three months of 2021 was 14.207 billion kWh, by 0.5% higher than last year, according to data released by the National Institute of Statistics (INS) on Wednesday.Public lighting decreased by 11.9%, and household consumption increased by 9.6%. Electricity exports stood at 1.609 billion kWh, down 7.8 million kWh, while the technological consumption in networks and stations was 1.832 billion kWh, up 105.9 million ...
Foreign Investors' Eric Stab: EUR 70 billion investment in next 10 yrs in Romanian energy system
Thursday, May 13, 2021
The companies announced investments of over 70 billion euros in the Romanian energy sector in the next ten years, most of them in electricity generation, said on Monday Eric Stab, vice president of the Council of Foreign Investors (FIC) and CEO of Engie Romania, on his participation in an online conference on the energy transition, organized by the FIC."Most of this amount, 31 billion euros, will go to the electricity sector: 26 billion euros in production, ...
MOL GROUP Q1 RESULTS: STRONG QUARTER DESPITE THIRD WAVE OF PANDEMIC AND LOCKDOWNS
Thursday, May 13, 2021
MOL Group delivered Clean CCS EBITDA of USD 664mn in Q1 2021, 7% higher than last year in the same quarter, reflecting the stronger oil-and gas prices and the record high petrochemical margin Upstream EBITDA increased 66% year-on-year in Q1 to USD 307mn, driven by significantly higher oil and gas prices and by the ...
Tinmar Energy will take over energy consumers that remain without supplier in May
Thursday, May 13, 2021
The National Authority for Energy Regulation (ANRE) designated Tinmar Energy as provider of last instance in May for end clients that do not have electrical energy ensured from any other source, according to a document of the authority.ANRE also approved the prices for last instance provision in May.Thus, Tinmar Energy has the lowest price, namely 359 RON per MWh. The next provider is Electrica Furnizare, with a price of 401.40 RON per MWh, E.ON ...
BSTDB loan for Romania's offshore gas production development
Thursday, May 13, 2021
The Black Sea Trade and Development Bank (BSTDB) has granted a EUR 15 million loan to support the Midia Gas Development (MGD) project, which aims to develop the Ana and Doina offshore gas fields, the bank said in a statement.The loan is granted to three Romanian companies, namely Black Sea Oil & Gas SA, Petro Ventures Resources SRL and Gas Plus Dacia SRL.BSTDB's financing of the Midia Gas Development project is part of an existing financial ...
Transelectrica warns about concentration of wind farms in eastern Romania
Thursday, May 13, 2021
Romania’s state-owned power grid operator Transelectrica informs that no power generation capacities can be authorised for connection in the south-eastern part of the country (Dobrogea, but also its adjacent regions) until the projects aimed at increasing the grid capacity are completed. The statement, quoted ...
AOT Energy plans mixed PV-hydrogen plant in western Romania
Thursday, May 13, 2021
Swiss group AOT Energy, a global leader in energy trading, covering crude oil and derivatives, renewables, petrochemicals, natural gas, and LNG, intends to finance a mixed energy project in Arad, consisting of a photovoltaic park with an installed capacity of 45 MW and a 3 MW electrolysis hydrogen production plant. The project would be developed by a private (and insolvent) company on a 69-hectare land that belonged to CET Arad - the ...