RSS
Energy & Environment
EBRD invests 57 million euro in southeastern Romania wind power facility
Thursday, June 12, 2014
The European Bank for Reconstruction and Development (EBRD) issues a 57 million euro syndicated loan for the development of a wind power facility in Topolog-Dorobantu in southeastern Romania; a bank's release informed on Thursday that the purpose is to stimulate the Romanian renewable energy market.The loan follows EBRD's A/B loan syndication structure, with the EBRD bank contributing 28 million euros, and UniCredit the remaining amount.The 84 MW wind ...
State energy company in Romania prepares for acquisition in region
Thursday, June 5, 2014
A state energy company in Romania will make, by this year's end, an acquisition in the region, Minister-Delegate for Energy Razvan Nicolescu told on Wednesday the Bucharest Forum Energy.'I hope that by end of the year we will be in a situation where, for the first time, a state company in Romania will make an acquisition in the region. It is a promise, ...
EnergMin Nicolescu: Gas suppliers will have to trade on an exchange part of their trade volume
Thursday, June 5, 2014
Romania's gas suppliers will be placed under an obligation to trade on a specialist exchange part of their trade volumes as from January 1, 2015, Minister-delegate for Energy Razvan Nicolescu told a Bucharest Energy Forum in Bucharest organised by the Aspen Institute.'The obligation on the gas suppliers to trade part of their gas volumes, imports included, on an exchange, to the benefit of consumers will come into force on January 1, 2015,' said ...
Rompetrol expands by 9 stations the fuel distribution network in Georgia and Moldova
Thursday, June 5, 2014
Rompetrol Georgia and Rompetrol Moldova, subsidiaries of KMG International, opened 9 new stations from the beginning of the year, increasing the network from the two countries to 128 fuel distribution points. The company intends to open 10 more stations in these countries by the end of the year. “The experience gained in the years in both countries and the operational results of the two subsidiaries have an important ...
PM Ponta: Government wants to continue stock listings
Thursday, June 5, 2014
The Romanian Government intends to continue the stock listings on the Bucharest Stock Exchange and is thinking of a strategy to reduce the state's investments in companies where the state holds a majority stake, said, on Wednesday, Prime Minister Victor Ponta'I had a meeting with the CEO of the Romanian stock exchange, Sobolewski (e.n. - Ludwik Sobolewski). We discussed of the Romanian Government's intent to ...
PM Ponta: Cooperation underway with World Bank for new oil royalties system
Thursday, June 5, 2014
The Romanian Government works with the World Bank on a new system of oil royalties, differentiating onshore and offshore reserves, Prime Minister Victor Ponta announced at the Bucharest Forum Energy on Wednesday.'On January 1, 2015 we will have a new Oil Law, with new royalties. The idea is to get little out of very much, not very much out of little. We consider stability over 15-20 years,' said Ponta.He ...
State wishes to get over 300 mln euro from Electrica listing; offers to be submitted June 16
Thursday, June 5, 2014
The authorities estimate they will obtain over 300 million euro through the selling of 51 percent of the Electrica stock during the initial public listing that will start on June 16, said, on Tuesday, the head of the Directorate for Privatization of the Energy Department Gabriel Dumitrascu, during a conference on the topic of energy.According to him, the energy sector needs investments of around 30 billion euro, a sum that will be ...
Fuels' high costs - major difficulty for transporters' activity
Thursday, June 5, 2014
The increased fuels' price is a major difficulty for the transporters' activity, as one could already notice a real curtailment of the cash-flow and profit, said in an interview to Agerpres the general secretary of the Romanian Association of the International Road Transporters (ARTRI), Florinel Andrei. A second difficulty would be caused by the shortage of cohesion in the guild in front of the authorities and ...
Ponta: Energy security is question of national security in region
Thursday, June 5, 2014
Premier Victor Ponta said on Monday, at the Parliament Palace, that energy security was a question of national security in this part of Europe as the control of energy resources influenced and can influence the political and military area of the region.Victor Ponta said that in the Government some important measures were taken referring to ensuring the energy independence of this country, but also of the Republic of Moldova on the basis ...
Romania to establish targets for energy consumption reduction, according to energy efficience directive
Thursday, June 5, 2014
Romania's Parliament will adopt a law of energy efficiency, in order to transpose into national law a European directive, that must contain targets for energy consumtion reduction, said, on Monday, Chairman of the Committee for industry and services of the Chamber of Deputies Iulian Iancu, while attending a conference on the topic of energy.He mentioned that a new distinct authority, similar to National Energy Regulatory Authority ...
Gazprom fully books gas transport capacity on Hungarian stretch of Arad-Szeged pipeline
Thursday, June 5, 2014
Russian energy giant Gazprom has booked the entire capacity tendered by the Hungarian side of the Arad - Szeged gas pipeline, chairman of the Chamber of Deputies' Committee for Industries and Services Iulian Iancu told a conference on energy this Monday.As for the names of the companies that booked capacity on the Romanian side of the pipeline, Transgaz general manager Petru Vaduva said they are confidential.'We signed ...
Revenues from Electrica's listing to be used for Romania-Rep. Moldova energy infrastructure
Thursday, June 5, 2014
Prime Minister Victor Ponta said on Monday that all financial resources obtained from the sale of shares of Electrica company, which may be actually listed on the stock exchange at end-June, will be used to invest in the energy infrastructure connecting Romania to the Republic of Moldova.'We decided not to use the financial resources we shall get from the IPO (initial public offerings - editor's note) directly for the budget (...), but ...
Electricity bill might rise 1 - 2 pct as of Jan. 1, 2015
Thursday, June 5, 2014
The regulated electricity price might rise by 1 - 2 percent as of January 1, 2015, after the companies operating in the sector will request the acknowledgment of the so called 'pole tax' (a tax on special structures) in the end electricity fees, president of the National Energy Regulatory Authority (ANRE ) Niculae Havrilet told a conference on energy this Friday.'All justified costs must be recognized in the end fees. No company has so ...
Romania's electrical equipment exports totalled EUR 3.803 billion in 2013
Thursday, June 5, 2014
Romania's exports of electrical equipment grew by 8 percent in 2013 and totalled EUR 3.803 billion, according to data released by the National Institute of Statistics (INS).A similar increase was recorded as regards the imports, which grew by 8.4 percent in 2013 as against 2012 reaching EUR 4.655 billion, which resulted in a EUR 852.5 billion trade deficit on this segment.In the electrical equipment manufacturing sector were ...
Vaslui County Council Chairman sees successful shale gas exploration as big opportunity
Thursday, June 5, 2014
Shale gas exploration can be an opportunity for local development, if successful, Vaslui County Council Chairman Dumitru Buzatu told Agerpres on Thursday.He asserted that such activities in Vaslui County (eastern Romania) are to people's benefit, as the county has scarce resources in state-of-the-art industries that generate significant revenues. 'One of the protesters' [against shale gas exploration and exploitation] ...
Energy security: Commission puts forward comprehensive strategy to strengthen security of supply
Thursday, May 29, 2014
The European Commission reacts on the current geopolitical environment and the EU´s import dependence: It advocates a new European Energy Security Strategy. Diversifying external energy supplies, upgrading energy infrastructure, completing the EU internal energy market and saving energy are among its main points. The strategy also highlights the need to coordinate national energy policy decisions and the importance of speaking with one voice when negotiating with ...
Reuters: Romania's Hidroelectrica to exit insolvency in May-June 2015
Thursday, May 29, 2014
Romanian state-owned hydro power producer Hidroelectrica will likely exit insolvency in May-June 2015 and list a minority stake in the second half of that year, its manager Remus Borza told Reuters on Wednesday.Hidroelectrica, the European Union state's largest and cheapest power producer, was forced into insolvency in 2012 by a severe drought and a string of loss-making contracts, a state it exited last year. But an ...
Transgaz proposes that Romania no longer import natural gas in June
Thursday, May 29, 2014
Transgaz, the natural gas transport and system operator, has proposed to the Energy Regulatory Authority (ANRE) that the country's entire gas consumption in June be covered by domestic production, without Romania resorting to imports, according to a document posted on the ANRE website.The regulator has approved, however, a share of imports of 2% for the population and the power plants supplying hot water to households and 5% for ...
Oil, gas and petrochemicals: Romania
Thursday, May 29, 2014
Petrochemicals The Romanian petrochemicals industry is expected to see better prospects this year as export industries exhibit stronger growth. However, BMI has said that the key issue for the sector remains the future of Oltchim, the troubled chemicals manufacturer that the government hopes to privatise ...
Nuclearelectrica planning investment expenditures worth 562.5 ml lei this year
Thursday, May 29, 2014
National Company Nuclearelectrica plans investment expenditures worth 562.514 million lei, as per the company's income and expenses budget published in the Official Gazette. Total revenues of the nuclear energy producer are estimated at 1.822 billion lei, and expenditures stand at over 1.782 billion lei, so that Nuclearelectrica would end the year with an accounting profit of 27.9 million lei. Personnel expenses are set at ...