Energy Industry Review

The digital process control system – Advanced Process Control (APC) – implemented by Rompetrol Rafinare in the operation of the Petromidia refinery delivered significant operational benefits and substantial cost reductions, estimated at over USD 2.5 million in 2025. While before, installation parameters – temperatures, pressures, flows – were adjusted manually, operators now set the desired product quality, and the APC software automatically calculates the optimal settings for the units, every minute. As a result, each unit operates based on a digital autopilot that adjusts key technological parameters in real time. This approach has consistently increased the yields of high‑value products and enabled the installations to run at maximum capacity under stable and predictable conditions. Thanks to the adjustments made through the predictive control of processes and operational flows, as well as the maintenance works carried out according to the scheduled turnaround programs, the refinery achieved new operational records in 2025. “The digital component helps us streamline processes, adapt production recipes, and meet our objectives. Alongside the crude oil volumes received, which reached historic levels, and the alignment with market demand, the system was a central element of last year’s performance. Advanced Process Control is also used for its predictive capabilities, as it significantly reduces any risks associated with production flows,” stated Sorin Graure, General Manager of Rompetrol Rafinare. Romania’s largest refinery reached maximum production levels in 2025 for gasoline, diesel, and jet fuel, kept technological losses at only 0.78%, and recorded a new historic low for the Energy Intensity Index (EII) – 92.5 points. These results were strongly supported by the volume of crude processed, ensured with the support of KazMunayGas, which also generated the highest yield of white products (gasoline, diesel, LPG, jet, propylene) ever achieved: 87.1% wt. The refinery’s utilization rate increased to 98.1%, supported by solid operational reliability and favourable market conditions, with an average feedstock throughput of over 16,000 tons/day. Petromidia also reported a record level of fuel gas – 205,000 tons/year, contributing to reduced natural gas consumption and optimized processing costs. Petromidia has been using the APC system across all installations since 2020, with the role of identifying, in real time, the optimal operating points to increase capacities, improve product quality, reduce energy consumption, and limit losses. By optimizing operational processes, the system also helps reduce fuel consumption and, implicitly, CO₂ emissions, while ensuring much stricter control over key installation parameters. Rompetrol Rafinare continues to implement advanced solutions for the digital transformation of the Petromidia Navodari refinery, in the operational area and in operator skills development, aiming to ensure refinery operation at the highest standards of safety, efficiency, and technological performance. The company implemented last year the first stage of a modern operator training system at Petromidia – OTS (Operator Training Simulator) – which supports the development of technical skills, contributes to safe operation, minimizes human error, and reduces reaction time in critical situations. The significant shareholders of Rompetrol Rafinare are KMG International (54.63% – direct and indirect) and the Romanian State, through the Ministry of Energy (44.7%).

The National Power Dispatch Center together with entities of the NPS in the region conducted a complex exercise to restore the NPS in the

On the occasion of the WPC Energy London leadership’s participation in the meetings of the IEF Advisory Council (https://www.ief.org/events/industry-advisory-council-meeting-stabilizing-energy-markets-in-a-disrupted-world) held in Bucharest on June 29–30, representatives and guests of the Romanian National Committee of WPC Energy gathered for a “Coffee Break” working session. The meeting took place at the InterContinental Athénée Palace Hotel in Bucharest on July 1, 2026. Experts in the energy sector and representatives of the Chamber of Deputies’ Committee on Science and Technology, the Petroleum-Gas University and the Romanian Ministry of Energy were invited to attend: Pedro Miras Salamanca, President of WPC Energy; Suleyman Coskun, PhD – Director of Programme at WPC Energy and Professor at the University of Manchester; Vice-Dean and Associate Professor Ioan Munteanu, PhD, Eng., Faculty of Geology and Geophysics, University of Bucharest; IT Engineer Razvan Cabalau, Romania’s representative on the WPC Energy Young Professionals (YP) Committee, General Manager & Business Development Professor at AXR Consulting Business Europe, as well as Pandele Neculae, PhD, Eng., WPC Energy CPC, RO/UNECE Representative and Chair of the Forum for Sustainable Development within Romania’s National Committee. The discussions were open and addressed current issues and future developments: new opportunities were explored to strengthen collaboration within WPC Energy, ranging from initiatives for young professionals and the university platform to joint support for the success of the 25th WPC Energy Congress in Riyadh, scheduled for October 11–15, 2026, with the support of companies from both the oil and energy sectors. Razvan Cabalau highlighted the success of the free online course on Artificial Intelligence organized for students and young professionals under the auspices of WPC Energy, the academic and university community, and companies, with approximately one hundred international guests in attendance and interest expressed in the launch of an e-book covering the topics discussed at Romania’s stand in Riyadh, as well as the success of several European projects funded by grants. The course was organized both to share knowledge and skills in the field of AI and to promote the 25WPC Energy Riyadh 2026 congress. Professor Ioan Munteanu highlighted the involvement of the Romanian university consortium—which includes the University of Bucharest (Faculty of Geology and Geophysics), the Petroleum-Gas University of Ploiesti, the University of Petrosani, “Alexandru Ioan Cuza” University of Iasi, and the Technical University of Cluj-Napoca—in WPC Energy activities, including the organization of the conference on artificial intelligence, “AI WPC Energy YP RO Bucharest 2025,” held under the auspices of CST-CD, ASTR and AGIR. He also mentioned his participation as a distinguished speaker and expressed his support for attending the congress in Riyadh, where student volunteers will serve as exhibitors at the Romanian stand. Pandele Neculae noted that the Romanian National Committee supports and coordinates the F3 forum—New Exploration and Production Technologies to Extend Supply—and the F5 forum – Advances in Geosciences – at the Riyadh congress, organizes Romania’s stand at the Global Forum, and, under the auspices of the Ministry of Energy, supports the participation of a large delegation at the congress—led by a secretary of state—and, we hope, at the ministerial session as well. It was also noted that he supports the participation of a Romanian specialist in the congress’s roundtable discussion on diversity and women in the oil and energy sector, as well as the participation of young professionals and students in all activities, including congresses. Suleyman Coskun highlighted the increasingly important role of WPC Energy’s activities—including its recent participation in the IEF Advisory Council meetings—in shaping the oil, gas, and energy sectors and adapting them to today’s global challenges. He highlighted the support provided to the Romanian National Committee and the Young Professionals (YP) group, as well as the support from the academic and university communities for training highly qualified specialists. He also expressed his support for participation in the congress, providing the necessary details regarding funding requests, registration, and volunteer involvement. The dialogue was open and substantive, with relevant and well-reasoned explanations. The 25th WPC Energy Congress will take place in Riyadh, Saudi Arabia, during October 11–15, 2026. With the theme “Pathways to an Energy Future for All,” this landmark event will bring together more than 25,000 global energy leaders, ministers, and CEOs to discuss the future of the global energy sector.

AleaSoft Energy Forecasting’s solar energy forecasts point to increases in Italy and Germany, while the Spanish market will register declines.

Rompetrol Rafinare celebrates 50 years since the pouring of the first foundation pillar of the Petromidia refinery. This milestone paved the way for the construction of Romania’s largest refining complex, which today directly contributes to the country’s energy security. On July 9, 1976, construction began on an industrial platform unlike any previously developed in Romania: approximately 480 hectares of land were dedicated to this strategic project, including more than 35 hectares reclaimed from the sea to enable the development of the future refinery. The pouring of the first foundation pillar in an area that consisted only of sand, reeds, and sea marked the beginning of a major technological and logistical effort involving thousands of specialists from Romania and abroad. Fifty years ago, ground stabilization works began in Navodari to prepare the site for the construction of the new petrochemical complex. In 1979, with the commissioning of the Atmospheric Distillation Unit, Petromidia officially began operations, processing its first barrel of crude oil and marking the start of a period of rapid industrial development. Over time, additional processing units were brought into operation. Today, Petromidia operates no fewer than 29 specialized units dedicated to refining, petrochemicals, and utilities, producing more than 30 primary and secondary products, including fuels (gasoline, diesel, jet fuel), liquefied petroleum gas (LPG), polyethylene, polypropylene, and petroleum coke. “Fifty years after the pouring of the first foundation pillar, Petromidia operates a fully integrated technological process. The platform’s evolution demonstrates our ability to transform infrastructure built in the 1970s into a high-performing, complex industrial system that has become a benchmark for stability and a cornerstone of Romania’s economy,” said Sorin Graure, General Manager of Rompetrol Rafinare. Over the past five decades, Petromidia has evolved into a regional energy hub, with a Nelson Complexity Index of 9.32 and an annual processing capacity of more than 5 million tons of feedstock, continuously developing into a modern, integrated, and regionally competitive industrial complex. Successive modernization programs and investments in state-of-the-art technologies following its acquisition by KazMunayGas, Kazakhstan’s national oil and gas company, have strengthened Petromidia’s position as Romania’s leading fuel supplier and a key contributor to the energy security of both Romania and the Black Sea region. Today, the Petromidia platform hosts more than 20 companies (KMG International Group member companies and subcontractors) and operates strategically important logistics infrastructure. In 2025, Romania’s largest refinery achieved operational records, including its highest-ever volume of crude oil processed, secured with the support of KazMunayGas, along with strong performance in the white products yields (gasoline, diesel, LPG, jet fuel, and propylene), which reached the highest level in the refinery’s history. The refinery also recorded all-time high production levels for gasoline, diesel, and jet fuel.

Rompetrol Energy, the operator of the cogeneration plant on the Petromidia platform, has successfully tested the plant’s capability to

A new meeting of the CEOs of the gas transmission and system operators involved in the Vertical Gas Corridor project took place in Athens on July 10. Discussions focused on the roadmap for expanding the initiative, with Romania playing a central role along the route that carries gas from southern to central and eastern Europe. The meeting in Athens marks a new stage in the project’s development, moving from the consolidation of the Greece–Bulgaria–Romania–Republic of Moldova–Ukraine route to the expansion of the infrastructure toward Serbia and North Macedonia. Romania was represented by Ion Sterian, CEO of Transgaz and the initiator of this European project aimed at improving gas supply and helping to reduce dependence on Russia. The meeting’s agenda focused on the latest developments regarding this strategic energy infrastructure project and an analysis of the roadmap for expanding the initiative by including transmission and system operators from Serbia and North Macedonia. The discussions in Athens follow Greece, Bulgaria, Serbia, and North Macedonia’s acceleration in recent months of negotiations regarding the expansion of energy infrastructure toward the Western Balkans. In May, Greek Energy Minister Stavros Papastavrou announced that Serbia and North Macedonia were set to be integrated into the Vertical Corridor framework through the development of gas interconnections. Authorities in the region have also agreed to institutionalize cooperation for the project’s expansion. However, the necessary infrastructure has not yet been fully completed. The interconnector between Greece and North Macedonia is under construction and is expected to become operational in 2027. At the same time, the projects needed to connect North Macedonia with Serbia are being analysed. The goal is to complete both the planning process and the necessary infrastructure as quickly as possible, ahead of the European Union’s planned total ban on natural gas imports from Russia, which, under current EU legislation, is set to take effect in October of next year. What does the expansion toward the Western Balkans change The inclusion of Serbia and North Macedonia would open a new branch of the Vertical Corridor toward the Western Balkans. The two states could gain access to gas flows entering the region via Greece’s LNG infrastructure, while the regional network would become more interconnected. For Romania, the expansion strengthens the position of the network managed by Transgaz within an energy system that connects southern Europe to markets in central and eastern Europe. What do the latest evaluations show The investment required to implement the gas projects along the Vertical Corridor amounts to nearly €1.65 billion to ensure a capacity of approximately 9.41 billion cubic meters per year. However, the latest update on the Vertical Corridor project indicates that American funding and non-repayable European funds are needed to carry out this plan. Through the implementation of this gas transmission corridor—a European project launched at the initiative of Transgaz CEO Ion Sterian—the transmission capacity of 9.41 bcm per year is expected to increase to 27 bcm per year in the second phase. Currently, the Vertical Corridor’s capacity is 5.03 bcm per year. Greece, Bulgaria, and Romania have already completed key phases of the Vertical Corridor, which is designed to supply gas from southern Europe to Ukraine and Moldova. These include infrastructure upgrades, new pipelines such as the Greece-Bulgaria Interconnector (IGB), as well as commercial agreements and special auctions. Romania has been promoting the Vertical Corridor concept since 2016 as a strategic initiative aimed at reducing dependence on Russian gas and facilitating the supply of American LNG produced by U.S. companies both in the United States and by American companies in other parts of the world: North Africa, offshore Cyprus, the Leviathan and Tamar fields in the Mediterranean Sea etc. The members of the Vertical Corridor Initiative, recognizing the need to ensure an uninterrupted supply of natural gas to their markets, as well as the importance of increasing market liquidity by facilitating alternative supply routes, have joined forces to carry out certain investments necessary to eliminate existing physical constraints along the Vertical Corridor route, thereby increasing the capacity of their systems, particularly in the south-north direction. What gas will be used to supply the Corridor The implementation of the Vertical Corridor will make it possible to import U.S. LNG produced by American companies (Exxon, Chevron, etc.), including from existing LNG terminals in Greece (Revithoussa, Alexandroupolis) as well as from other terminals currently in the planning stage (e.g., Dioriga in Greece). “If the Bulgarian side fulfils its commitments and carries out the planned investments, the capacity of the Vertical Corridor will double, from 5 bcm to approximately 9.4 bcm annually, equivalent to approximately 27 mcm per day,” Ion Sterian says. “The Vertical Corridor is my initiative for natural gas transmission from south to north, bringing gas from the Caspian Sea region and Azerbaijan, as well as liquefied natural gas (LNG) from terminals in Greece and Turkey, including U.S. LNG. This will contribute to the diversification of natural gas sources and increase the security of gas supplies to countries in Central and Eastern Europe and the Balkans. The integration of the BRUA pipeline into the Vertical Corridor transforms Romania into a major player in the region’s gas market,” Transgaz CEO also mentioned.

Hidroelectrica marked the third anniversary of the listing of its shares on the Bucharest Stock Exchange (BVB), one of the most significant moments

Designated a project of national importance, the Ghercesti–Jitaru gas pipeline is one of the major investments currently being carried out by Transgaz – the technical operator of the National Gas Transmission System (NTS) in Romania. The project will connect the transmission infrastructure in Oltenia with that in southern Romania, contributing to increased energy security and the development of natural gas supply capacity in the region.

Omnia Capital, the investment holding company founded in the Netherlands by Italian entrepreneur Giacomo Billi, has completed the acquisition of Alive Capital Beograd from Premier Energy, following clearance by the competent competition authority. The transaction places the Serbian company under Giacomo Billi’s full control and accelerates growth in supply, renewable offtake, PPAs, balancing and storage. The transaction makes Omnia Capital the sole shareholder of Alive Capital Serbia and gives the group full control over its Serbian operations. Established in 2023, the company was created to develop in Serbia an integrated energy services platform inspired by Alive Capital Romania, its sister company and operational benchmark, according to Balkan Green Energy News. Alive Capital Serbia has already built a local presence through its Belgrade office and now enters a new growth phase focused on final consumers, renewable producers and industrial clients looking for reliable supply, renewable energy sourcing and long-term price visibility. During 2026, Alive Capital Serbia started serving final consumers and expanded renewable offtake, offering electricity supply, DAM and IDM access, balancing responsibility, aggregation, PPAs, portfolio optimization and energy management services to connect green producers with clients, reduce imbalance risks and improve market access and price visibility. “Alive Capital Serbia is not a financial participation. It is an operating company with a clear local mission. We want to grow it as the Serbian arm of our regional energy platform, built on the same model that made Alive Capital Romania, which has grown over the past decade into a diversified energy services platform,” Giacomo Billi noted. “We have the local structure, the Romanian know-how and the ambition to build a Serbian company that can serve producers, consumers and investors with stable, competitive and predictable energy solutions,” he added. Alive Capital Serbia benefits from the operational know-how developed in Romania. Alive Capital Romania manages more than 1.8 GW of generation capacity across more than 200 power plants and supplied 1.95 TWh of electricity in 2025. Through Alive Energy, the group also controls approximately 500 MW of renewable generation and storage projects, including wind, solar and BESS assets that are operational, under construction or in development. Omnia Capital sees Serbia as a strategic market, supported by renewable energy growth, the need for flexible supply solutions and the increasing role of storage in the power system. “The next phase is execution. We have the local structure, the Romanian know-how and the ambition to build a Serbian company that can serve producers, consumers and investors with stable, competitive and predictable energy solutions,” Giacomo Billi concluded.