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Energy & Environment
Black Sea Oil & Gas sets up new company to develop biogas plants in Romania
Thursday, May 30, 2024
A new company focused on the development of biogas plants across Romania, BSOG Energy SRL, has been set up by Black Sea Oil & Gas S.A. (BSOG), together with its shareholders, global investment firm Carlyle and the European Bank for Reconstruction and Development (EBRD), BSOG said in a press release sent on Wednesday.The newly-established BSOG Energy SRL, headquartered in Bucharest, will develop biogas plants nationwide, with each site estimated to have a capacity of at ...
State-of-the-art reactors installed at the Petromidia refinery
Thursday, May 30, 2024
Rompetrol Rafinare, member company of the KMG International Group (Rompetrol), introduced two modern reactors into the operational flow of the Petromidia refinery, part of the Middle Distillate Hydrotreating (HDV) unit, which will reach optimal operational parameters in the shortest time possible. The investment of about 16 million dollars, implemented as part of the recently completed general turnaround, will lead to increased amounts of loaded ...
Premier Energy listing increases representativeness of energy and utilities sector to 66% of BVB capitalization
Thursday, May 30, 2024
The listing of Premier Energy increases the representativeness of the energy and utilities sector to 66% of the total capitalization of the Stock Exchange, said Radu Hanga, the president of the Bucharest Stock Exchange, on Tuesday."It is the largest listing of an entrepreneurial company on the Bucharest Stock Exchange in the last 7 years. We had the Digi listing in 2017, which was bigger. If we look at the history of the Bucharest Stock Exchange, it is in the top 5 ...
Romania signs “Green Energy Corridor”, the strategic partnership in green energy development and transport
Thursday, May 30, 2024
In the application of the Agreement between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary regarding the Strategic Partnership in the field of Green Energy Development and Transport – “Green Energy Corridor” Project, CNTEE Transelectrica SA and the other relevant parties designated at the level of each state, respectively AzerEnerji JSC, Georgian State Electrosystem and MVM Zrt., signed on Monday, May 27, in Bucharest, a Memorandum of ...
Moldovan gas market should couple with Romania
Thursday, May 30, 2024
Moldovan gas market and incumbent Moldovagaz undergo major changes related to market and transit Coupling with Romanian market would help speed up implementing daily balancing Political developments may determine the direction taken by the market Moldova’s best chance to consolidate its gas sector is to couple up with the Romanian market, the CEO of ...
The value of green lending for companies reached 5 bln. lei in March
Thursday, May 30, 2024
The “green” credits granted to companies in Romania amounted to 5 billion lei in March of this year, an annual increase of 129%, Florin Dragu, head of the service Financial Stability Directorate of the National Bank of Romania (NBR). “At the moment, “green” lending is still a market in information and also has a high potential for increasing the level of financial intermediation. The latest data, related to March 2024, ...
EBRD:Supporting renewable energy in Romania and Moldova
Thursday, May 30, 2024
EBRD becomes a minority shareholder in Premier Energy PLC in initial public offering Bank buys 11 per cent of offering, bringing 3.2 per cent ownership of the company IPO proceeds to invest in renewable energy generation in Romania and Moldova The ...
Engie Romania completes purchase of 80 MW wind park
Thursday, May 23, 2024
Engie Romania, part of French utility company Engie, said on Monday that it has finalised the acquisition of an 80 MW wind park from Czech investment firm EnerCap Group. The wind park, located in Romania's southeastern commune of Chirnogeni, Constanta county, is expected to generate around 180 GWh of electricity per year, which is enough to power about 90,000 households, Engie said in a press release. The ...
Romania's crude oil production down 3.4pct in Q1 2024, imports drop 15.1pct
Thursday, May 23, 2024
In the first quarter of 2024, Romania produced 682,400 tonnes of oil equivalent (toe) of oil, 23,900 toe less (-3.4%) than in the same period of the previous year, according to data centralised by the National Institute of Statistics (INS).Imports of crude oil exceeded 1.773 million toe in the period, 315,700 toe less than in January-March 2023 (-15.1%).According to the latest Energy Balance Forecast, published by the National Commission for Strategy and ...
OMV Petrom invests 23 million EUR in largest crude oil storage tank in Romania, at Petrobrazi refinery
Thursday, May 23, 2024
OMV Petrom has commissioned the largest crude oil tank in Romania at the Petrobrazi refinery, after an investment of more than 23 million EUR commissions, according to a company press release ."The construction of the new oil tank is a new important project successfully completed on the Petrobrazi platform, together with the installation of new coking chambers and other modernisation projects. All these investments strengthen our capacity to ensure a good and safe operation ...
Electrica signs Memorandum of Understanding with Esyasoft Holding Ltd.
Thursday, May 23, 2024
Electrica has signed a Memorandum of Understanding with Esyasoft Holding Ltd., a subsidiary of the International Holding Company (IHC), Abu Dhabi, United Arab Emirates (UAE), informs the company through a press release sent to the Bucharest Stock Exchange. "Electrica informs investors that it signed today, May 16, 2024, in the presence of the prime minister of Romania, a Memorandum of Understanding with Esyasoft Holding Ltd., regarding the collaboration ...
Romania's electricity distribution operator invests 70.3 M RON in Q1
Thursday, May 23, 2024
Romania's electricity distribution operator Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, made investments of 70.3 million RON in the first quarter of the year, representing 102.1% of the estimated value, according to the financial results communicated by the Electrica Group.According to Mihaela Suciu, general director of DEER, the increase in security and the acceleration of the digitalization process of the distribution ...
Romgaz has new branch in Republic of Moldova - Chisinau branch for natural gas supply
Thursday, May 23, 2024
The Romgaz branch in Chisinau was registered on Thursday with the Public Services Agency of the Republic of Moldova, in the State Register of Legal Entities, the company informs through a release ."The process of registering the Romgaz Branch in Chisinau falls within the scope of the company's actions in order to expand its gas supply activity at the regional level, an objective foreseen in the company's strategy for the period 2021 - 2030. Romgaz wants to contribute to ...
Coal production drops 11.6pct in Q1 2024; imports up 35.8pct
Thursday, May 23, 2024
Romania's net coal production totaled, in the first three months of this year, 511,600 tonnes of oil equivalent, by 11.6% lower (minus 66,900 toe) compared to the same period in 2023, according to data centralized by the National Institute of Statistics (INS).Net coal imports reached, in the mentioned period, 52,000 toe, higher by 13,700 toe (plus 35.8pct) compared to January-March 2023.In the last forecast of the energy balance, the National Strategy and ...
Minister Burduja: New contracts and calls through the Modernization Fund, storage gets top priority
Thursday, May 23, 2024
The Ministry of Energy is preparing the launch of the call for the cogeneration of electricity and heat (CHP) from the Modernization Fund, for which at least two CETs from Bucharest, Grozavesti and Progresu, will be eligible, announced the Minister of Energy, Sebastian Burduja, at an event Specialized. “I can’t resist talking to you about Bucharest, because, unfortunately, the ELCEN situation is critical and I would be happy to discuss it ...
Reuters: Hungary to sign deal to allow gas imports from Romania -PM Orban
Thursday, May 23, 2024
Hungary will soon sign a deal which will allow the imports of 4 billion cubic meters of natural gas from Romania annually over the next 15 years, Prime Minister Viktor Orban said on Friday quoted by Reuters. Orban told a news conference that three Hungarian companies had won a tender in Romania for the gas. He did not name the companies. "Within moments we will sign an agreement, which will allow for the next 15 ...
Transgaz posts RON 241.94 ml in Q1 net profit
Thursday, May 16, 2024
National gas transmission operator Transgaz posted a net profit of RON 241.94 million for Q1 2024, up 93 percent year-over-year, show the Quarterly Financial Results as of March 31, 2024 submitted to the Bucharest Stock Exchange on Wednesday.Across the group, which includes Eurotransgaz SRL in the Republic of Moldova, and its subsidiary Vestmoldtransgaz SRL, the Q1 net profit was RON 262.86 million, up 113 percent compared to the first quarter of last ...
Q1 energy production down 2.4 pct, consumption inches up 1.4 pct
Thursday, May 16, 2024
Romania's electricity production was 2.4 percent down in Q1 2024 from the same period in 2023, while household power consumption was 0.1 percent up year-over-year, shows data released on Wednesday by the National Institute of Statistics (INS).In the reporting period, primary energy resources decreased 2.4 percent from the year-ago period, and electricity resources increased 1.3 percent.The main primary energy resources totaled 7.715 million tons of oil ...
Romgaz records net profit of RON 1.24 billion in Q1 2024
Thursday, May 16, 2024
Romgaz Group recorded a consolidated net profit of RON 1.24 billion in Q1 2024, 28% higher than in the same period last year, according to data sent by the Bucharest Stock Exchange (BVB).According to the source, Romgaz reported a turnover of RON 2.27 billion, down 21.86% compared to the same period in 2023, as a result of a 6.68% decrease in gas volumes delivered, an 18.33% decrease in electricity production and a 9.1% reduction in revenues from warehousing and ...
ACUE: Investment need in distribution networks is worth 15.6 bln. euro for the period 2020-2030
Thursday, May 16, 2024
The investment requirement in distribution networks is 15.6 billion euro for the period 2020-2030, of which about 9 billion euro must be attracted in addition to what the distribution operators have already planned from their own funds and from the European funds attracted for the period next, said Cristina Paun, deputy director of the Federation of Associations of Energy Utility Companies (ACUE). “The objectives of the PNIESC (Integrated ...