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Energy & Environment

Rompetrol Rafinare, gross turnover of nearly 4 billion dollars and record operational results in the first nine months of 2019

Thursday, November 21, 2019

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Rompetrol Rafinare, member company of KMG International, recorded a gross turnover of over 3.9 billion USD in the first 9 months of 2019, down 6% compared to the same period last year. This was mainly influenced by the lower market shares of petroleum products compared to those recorded in the same period last year. Consolidated operational profit (EBITDA) exceeded 100 million USD, and the consolidated net result recorded a loss of 26.9 million USD, ...

Fondul Proprietatea wants to squeeze extra dividends from RO energy companies

Thursday, November 21, 2019

The largest Romanian investment fund Fondul Proprietatea wants more cash from state-owned ...

Romania joins European intraday electricity market coupling

Thursday, November 21, 2019

Romania’s intraday electricity market will be coupled to those in another 20 countries of the European Union, which will reduce the need for deliveries under the balancing (short-term) mechanism that are particularly costly as they require capacities otherwise not ...

Major Romanian solar plant changes owner following deal between Chinese firms

Thursday, November 21, 2019

One of the largest photovoltaic parks in Romania, with an installed capacity of 55MW, will change its owner after a deal between two Chinese ...

Stephen Birrell is the new president of ROPEPCA

Thursday, November 21, 2019

Stephen Birrell, CEO of Fora Oil and Gas, is the new elected president of the Romanian Petroleum Exploration and Production Companies Association – ROPEPCA, following the annual elections held within the association. The newly elected Managing Committee is also formed by: Saniya Melnicenco (NIS Petrol), Amos Sanders (HOCOR), Rafael ...

Market liberalization should be done as urgently as possible

Thursday, November 21, 2019

Hidroelectrica’s reserve for this winter in lakes exceeds 71% and is higher than in 2018, says Bogdan Badea, president of the Hidroelectrica’s directorate. Thus, 2.25 TWh reserves will be insured during the winter, compared to 1.97 TWh last year. He argues that the market needs to be liberalized as soon as possible, otherwise some players will take benefit. “Hidroelectrica sells cheap energy, at 255 lei per MWh. If we would take all ...

Isarescu: Monitoring and comparing food and fuel prices will increase competition

Thursday, November 21, 2019

The decision of the Competition Council to allow the monitoring and comparison of food and fuel prices, through the Price Monitor, will accentuate the competition, according to Mugur Isarescu, the governor of the National Bank of Romania (BNR). “The Competition Council has taken a series of very correct measures. Improving the level of transparency at the consumer level, such as the Monitoring of prices for food and fuel. Transparency in the ...

Electricity resources decline 3.9%, Jan.-Sept., 2019

Thursday, November 14, 2019

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During 1.I – 30.IX.2019, primary energy resources increased by 2.7%, while those of electricity decreased with 3.9% as compared to the same period of previous year. Romania's primary energy resources increased by 2.7% between January 1 - September 30, 2019 against the same period of 2018, while electricity resources decreased by 3.9%, according to provisional data released on Wednesday by the National Institute ...

Gas transporters in Romania, Moldova and Ukraine meet Gazprom representatives over 3-year gas transit plans

Thursday, November 14, 2019

Representatives of gas transporters in Romania, the Republic of Moldova and Ukraine are repeatedly meeting Gazprom officials in the Romanian town of Isaccea on Tuesday, sources have told HotNews.ro. They depicted the meeting as a key one as question are raised about Russian gas transit to Europe via Ukraine.Representatives of Transgaz (Romania, Moldovatransgaz (Republic of Moldova) and Ukrtransgaz (Ukraine) are reportedly due to discuss a 3-year transit deal ...

EC delegation comes for talks on electricity and gas market liberalization

Thursday, November 14, 2019

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A delegation of the European Commission will come to Romania in December to discuss with Bucharest authorities the liberalization of natural gas and electricity markets, said Zoltan Nagy Bege, the vicepresident of ANRE on Tuesday at a press conference on energy topics. “We have already sent EC a briefing on the differences between emergency government order 114/2018 and the new European regulations. It would be ideal to obtain an accord for the ...

EC wants to know why Romania intends to decline contribution of renewable resources in energy production

Thursday, November 14, 2019

The European Commission (EC) requested Romania explanations into why our country proposed to decrease the contribution of renewable resources in the energy production from 41.8 percent in 2020 to 39.6 percent in 2030, stated on Thursday Policy Officer at the Directorate General for Energy (DG Energy) within the European Commission Henrik Dam, who is attending the "Energy Transition 2019" conference in Bucharest.Henrik Dam stated that he received the draft of the ...

WindEurope: Romania must raise renewable energy target for 2030, as neighbouring countries' example

Thursday, November 14, 2019

The countries around Romania have increased their initial renewable energy target for 2030, at the recommendation of the European Commission, and so should the new Government of Romania, on Thursday said Giles Dickens, CEO of WindEurope, present in Bucharest at the "Energy Transition 2019" conference.Only seven weeks to go until Romania and the other European states must finalize the National Energy and Climate Plans, in order to define their renewable energy ...

ENEL, NET ORDINARY INCOME UP 14.1% IN THE FIRST NINE MONTHS OF 2019, ORDINARY EBITDA TARGET FOR THE YEAR REVISED UPWARD TO 17.8 BILLION EUROS

Thursday, November 14, 2019

Revenues: 57,124 million euros (55,246 million euros in the first nine months of 2018, +3.4%)  the increase was mainly attributable to the activities of Infrastructure and Networks, especially in Latin America thanks to the contribution of Enel Distribuição São Paulo in Brazil and the settlement of pending regulatory issues in Argentina, as well as to Thermal Generation and Trading activities, mainly in ...

Romania could benefit faster from bilateral contracts (PPAs)

Thursday, November 14, 2019

The Energy Law, now in the Chamber of Deputies, could include a provision regarding power purchasing agreements (PPAs), which would allow the development of the renewable market, told energynomics.ro a source close to the wind industry. “The adoption of Regulation 943 in the legislation will take place in January, and passing the new Energy law through the Parliament, mentioning the possibility of ...

Minister Popescu: Energy and gas subsidies to the entire population of Romania must cease

Thursday, November 14, 2019

Subsidizing the price paid by the entire population of Romania for energy and gas should cease and will continue to receive aid only those who really need it, said on Wednesday, the Minister of Energy and Business Environment, Virgil Popescu, at the taking office ceremony. “We want to repeal GEO 114 which has caused great dissensions in the market. We will see the European Commission’s response to the proposed timetable and depending on ...

Head of DG Clima met with officials of the Ministry of Economy and Energy for the Modernization Fund – more than 5 billion euros in stake

Thursday, November 14, 2019

The officials of DG Clima met in Bucharest on last Thursday with representatives of the Ministry of Economy and Energy, to elaborate some details related to the new investment facilities of the European Union, sources told energynomics.ro. Mainly, there were discussions about the major facilities made available to Romania by the Union through the Modernization Fund, which could bring to Romania about 5 billion euros, said the source. “The head of ...

Europe needs to double electricity share to meet climate goals – EU official

Thursday, November 14, 2019

The European Green Deal to be unveiled in early 2020 will pursue a strategy of increasing the share of electricity in the EU’s energy mix, the new head of the European Commission’s energy department told a conference in Brussels Wednesday (6 November), quoted by euractiv.com. “First assessments show we need to double the share of electricity in energy consumption by 2050,” Ditte Juul-Jørgensen said at an event organised ...

WTS Energy Romania opened a new office in Bucharest targeting new onshore and offshore developments

Thursday, November 14, 2019

In 2016, when the first discussions of opening the WTS Energy office in Romania have started between the current country manager of WTS Energy Romania, Mihaela Sarlea (Manta) and the CEO of WTS Energy, Frederik Rengers, there were a lot un uncertainties in the oil and gas market. Following years of working on Middle East area, Mihaela ?arlea embraced the ...

PM Orban: We will try to identify fastest solutions to unblock gas drilling in the Black Sea

Thursday, November 7, 2019

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Prime Minister Ludovic Orban on Wednesday sent a message to the investors in the energy sector that the new Government will try to identify the fastest solutions to unblock the major offshore gas projects in the Black Sea.He attended the new Minister of Economy, Energy and Business Environment Virgil Popescu's portfolio takeover ceremony."In economy, our main objective is to regain the trust of the business environment in the Government. (...) For we ...

2018 primary energy production goes down 1.7pct; energy product imports went up 4.2pct

Thursday, November 7, 2019

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Total energy resources available in 2018 stood at about the same level with those of 2017; compared to previous year, the primary energy production decreased by 1.7%, while imports of energy resources increased by 4.2%, gross inland consumption of energy increased by 0.4% and final energy consumption increased by 1.5% Romania's primary energy production declined by 1.7 percent in 2018 against the previous year, energy ...

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