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Energy & Environment
President Iohannis promulgates law on offshore wind energy
Thursday, May 9, 2024
President Klaus Iohannis promulgated the Law on offshore wind energy. The law regulates the general framework necessary for the implementation in Romania of electricity production projects from offshore wind resources."The implementation of electricity generation projects from offshore wind resources shall be carried out in compliance with the principle of non-discrimination, in conditions of fair competition, and in compliance with the principle of ...
KHNP and Candu Energy are bidding together for the modernization of reactor 1 at Cernavoda
Thursday, May 9, 2024
Korea Hydro & Nuclear Power (KHNP), a South Korean state-controlled company, announced on Monday that it had signed an agreement with Canadian group Candu Energy to speed up preparations to submit a bid in the tender to be held to upgrade the reactor 1 from Cernavoda, Yonhap agency informs. KHNP stated that it signed an engineering services contract with Candu, in accordance with their objective to ...
Minister Burduja: Romanian energy and gas prices, among the lowest in the EU
Thursday, May 9, 2024
Romania had in the second half of 2023 the third lowest price paid by the population for natural gas and the fifth for electricity, according to Eurostat, which published statistics on the prices paid for electricity and natural gas by household consumers and non-households within the European Union (EU). The price of natural gas for households in Romania (0.0563 EUR/kWh) was the 3rd lowest price in the ...
Hidroelectrica resumes work on the Bumbesti-Livezeni hydroelectric project
Thursday, May 9, 2024
Hidroelectrica resumes work on the Bumbesti-Livezeni hydroelectric project, following a Government decision declaring it of public utility and national interest. The project, 90% complete, was halted in 2017 by the Bucharest Court of Appeals at the request of several environmental NGOs. According to a statement from Hidroelectrica, between April 28-30 there was a working visit and discussions with the ...
OMV Petrom posts RON 1.39 bln in Q1 net income, 6 pct lower y-o-y
Thursday, May 9, 2024
OMV Petrom Group posted a net income of RON 1.399 billion for Q1 2024, down 6 percent year-over-year from RON 1.481 billion, according to the financial report submitted to the Bucharest Stock Exchange.Consolidated sales revenues dropped 10 percent from the same period in 2023, affected by lower gas and electricity prices, as well as lower volumes of natural gas sales; this was partially offset by higher volumes of electricity and refined ...
Premier Energy Group Announces Publication Of Prospectus And Start Of Offer Period
Thursday, May 9, 2024
Premier Energy PLC , a privately owned vertically integrated energy infrastructure companies in SEE and one of the largest renewable energy players in Romania and the Republic of Moldova (“Moldova”), today announces the approval by the Romanian Financial Supervisory Authority and the publication of the prospectus for the initial public offering (the “IPO”) of its ordinary shares and for the admission of the Shares to trading on the Bucharest ...
OMV Petrom abandons search for hydrocarbons on Black Sea shelf of Georgia
Thursday, May 9, 2024
OMV Petrom SA has decided to leave Georgia, Report informs referring to the company. “The decision to leave the country has been made,” the company said in its quarterly report regarding offshore exploration work in Block II, located on the Black Sea shelf of Georgiaquited by https://www.azerbaycan24.com/. In March 2021, an agreement was signed providing for the extraction, collection, ...
Saint-Gobain signs Romanian energy deal
Thursday, May 9, 2024
Saint-Gobain has signed a five-year renewable electricity supply agreement (power purchase agreement or PPA) in Romania with energy supplier OMV PETROM SA, ...
Rompetrol Rafinare shareholders approve 2024 budget estimating losses of almost 40 million dollars
Thursday, May 9, 2024
Rompetrol Rafinare shareholders approved, in the Ordinary General Assembly, the draft revenue and expenditure budget for 2024, which estimates a net loss of 39.758 million dollars this year, according to a report submitted on Monday to the Bucharest Stock Exchange.The gross turnover is estimated at 4.516 billion dollars and the net one at 3.52 billion dollars, while the operating profit, without depreciation and amortization expenses (EBITDA) at 123.92 ...
Premier Energy Group acquires Mihai Viteazu wind farm in Constanta county
Thursday, May 9, 2024
The Premier Energy Group acquired the Mihai Viteazu wind farm in southeastern Constanta county, a region famous for its favorable wind conditions, the total installed capacity being 80 MW, and the estimated net production 165 GWh per year, the company announced on Monday.The value of the transaction is 88 million euros and includes approximately 520,000 green certificates. This will be subject to the standard regulatory approvals for this type of transaction ...
Romgaz's hydrocarbon production in Q1 2024 is 8.36 million boe
Thursday, May 9, 2024
Romgaz recorded in the first quarter of this year a total hydrocarbon production of 8.36 barrels of oil equivalent (boe), 4.56% higher than in the same period last year, according to a report submitted to the Bucharest Stock Exchange on Friday.The amount of natural gas extracted, gross, was 8.30 million boe (+4.39%), and the condensate production was 62,000 boe (plus 32.46%).Natural gas from internal production capitalized totaled 1.208 billion ...
Coal production decreases by 5.6%, imports down by 2.2% in first two months of 2024
Thursday, May 9, 2024
Romania's net coal production totaled, in the first two months of this year, 344,600 tonnes of oil equivalent (toe), being 5.6% lower (minus 20,300 toe) compared to the same period in 2023, according to data centralized by the National Institute of Statistics (INS).Net coal imports were, in the mentioned period, 22,700 toe lower by 500 toe (minus 2.2%) compared to January-February 2023.In the last forecast of the energy balance, the ...
SMR project in Romania to benefit from highest level of nuclear safety, technological robustness
Thursday, May 9, 2024
The SMR project in Romania will benefit from the highest level of nuclear safety and technological robustness, said Nuclearelectrica CEO Cosmin Ghita, after a visit to the Doosan Enerbility plant in Changwon, South Korea, as part of the delegation led by the President of Romania, Klaus Iohannis.According to a company press release, the visit to Doosan Enerbility was aimed at investigating Doosan's advanced SMR production capabilities. It also envisaged ...
Government announces strategy to align mining legislation to the EU's Critical Raw Materials Act
Thursday, April 25, 2024
Euro Sun Mining Inc., (“Euro Sun” or the “Company”) through its wholly owned Romanian subsidiary, SAMAX Romania S.R.L., wishes to highlight the Romanian Government’s strategic announcement on April 22, 2024 , formally listing copper as a strategic and critical material, and their planned ...
Tenders for the selection of the consultants for the studies for the Electricity Interconnection between Greece and Egypt are launched
Thursday, April 25, 2024
* The first tender calls were published in the Greek and international press. ELICA MEDITERRANEAN ELECTRICAL INTERCONNECTION S.M. ...
Takeover of EP Wind Project (ROM) Six by Engie Romania, authorized by Competition Council
Thursday, April 25, 2024
The transaction by which Engie Romania wants to take over the producer of electricity from renewable sources, EP Wind Project (ROM) Six, was authorized by the Competition Council.According to a press release of the competition authority, sent on Wednesday, following the analysis of this transaction, it was found that the operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it, as well as that "there are ...
OMV Petrom shareholders approved the distribution of record dividends of 2.6 billion lei for 2023
Thursday, April 25, 2024
Distribution of record high base dividends of around 2.6 billion lei for the financial year 2023 Entering the highest investment levels in the history of OMV Petrom with a budget of approximately 8 billion lei in 2024, 71% higher than 2023 OMV Petrom announces the resolutions passed during the General ...
OMV Petrom to test innovative carbon capture facility at Petrobrazi
Thursday, April 25, 2024
OMV Petrom will test from June, at the Petrobrazi refinery, a new carbon capture and utilization technology. The installation consists of three units. The tests are part of a demonstration campaign carried out in three countries – Denmark, Romania and Greece – within an innovation project financed with European funds – ConsenCUS. The first captures CO2 through a more efficient technology than traditional ...
Delgaz Grid invests more than 7.75 million lei to upgrade the gas network in 4 localities in Bistrita-Nasaud
Thursday, April 25, 2024
Five investment projects in the distribution of natural gas whose total value surpasses 7.75 million lei (1.5 million euro), were planned for this year by Delgaz Grid in Bistrita-Nasaud county.According to a press release of the company sent on Monday, the works include the modernization of the gas grid on a length of almost 24 km in four localities in the county. As a result of investments, the supply of natural gas to the people will ...
Crude oil production declines 2.9pct two months into 2024
Thursday, April 25, 2024
In the first two months of 2024, Romania produced 449,400 tonnes of oil equivalent (toe) of crude oil, down 13,400 toe (-2.9%) y-o-y, according to data with the National Institute of Statistics (INS).Imports of crude oil amounted to 1.395 million toe during the same period, up 59,200 toe y-o-y.According to the latest Energy Balance Forecast published by the National Board on Economic Strategy and Forecasts (CNSP), Romania's crude oil production will be on a ...