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Energy & Environment
Rompetrol to transfer 200 mln dlrs to state budget in two months at utmost since memorandum approval
Thursday, September 26, 2013
Oil Group Rompetrol will transfer to the Romanian state budget 200 million dollars as settled under the memorandum agreed with the Government in no more than two months since the understanding gets all the legal approvals, Rompetrol vice president Azamat Zhangulov said on Thursday.'After the memorandum gets all the legal approvals, we will finalize the transaction of redeeming the shares from the Romanian state and will transfer the ...
ANRE: Domestic consumers will pay the market price for 20 pct of their electricity bill
Thursday, September 26, 2013
The population will pay the free market price for 20 percent of their total consumption of electricity, as of January 1, 2014, while the rest of 80 percent will be charged based on the regulated price, Niculae Havrilet, the head of the National Regulatory Authority in the Energy Field (ANRE) told AGERPRES.Starting on July 1, 2013, the population will pay the free market price for 10 percent of their electricity consumption, following on ...
Romgaz will be listed early this November
Thursday, September 26, 2013
The Romgaz national natural gas corporation will be listed with the stock exchange early this November, under an administration plan designed to halt further production decline, head of the Privatisation Directorate General of the Energy Department with the Economy Ministry Gabriel Dumitrascu told a specialists conference on Thursday.'There is no ceding now the private initiative, but increasing trust in the private sector. When ...
ANRE: Domestic consumers will pay the market price for 20 pct of their electricity bill
Thursday, September 19, 2013
The population will pay the free market price for 20 percent of their total consumption of electricity, as of January 1, 2014, while the rest of 80 percent will be charged based on the regulated price, Niculae Havrilet, the head of the National Regulatory Authority in the Energy Field (ANRE) told AGERPRES.Starting on July 1, 2013, the population will pay the free market price for 10 percent of their electricity consumption, following on ...
PwC: Current system of oil royalties in Romania is suitable, can be maintained
Thursday, September 19, 2013
Romania applies a system of oil royalties between 3.5% and 13% of production, with an average of 7 - 8%, a level that is suitable and that can be maintained in the future, said on Tuesday Vasile Iuga, managing partner for South-East Europe in consulting company Pricewaterhouse Coopers (PwC).'A European average of royalties is not relevant, given that the situation is different in the European countries,' said Iuga.He added that ...
Romania ranks 5th in Europe in terms of gas and oil production
Thursday, September 19, 2013
Romania is currently ranking 5th in Europe in terms of oil and gas production, with the country's import dependency rate standing at 25 percent, below the European average of 50 percent, according to Vasile Iuga, managing partner for South-East Europe at the PriceWaterhouse Coopers (PwC).The main producer of oil and gas in Europe is Norway, with 1.3 billion barrels of oil ...
MOL Romania invests almost 3 million euros in 3 new filling stations, enlarging network to 141 units
Thursday, September 19, 2013
MOL Romania’s retail network reached 141 filling stations after the company opened three new units in Floresti (Cluj), Iasi and C?linesti (Arges), consolidating its distribution chain, a press release sent by the company to ACTMedia is saying. “We invested almost 3 million euros in total in the new filling stations, which will ...
Gas price for households, to go up 1 percent at the most, starting October 1
Thursday, September 19, 2013
The gas price for households starting October 1 will go up 1 percent at the most, at the same time with the check off of a new stage of the calendar of the market liberalisation, National Energy Regulatory Authority (ANRE) President Niculae Havrilet said on Tuesday.'October 1 is the next time limit in the gas market liberalisation calendar. On this date, the domestic production gas price is scheduled to increase 2 percent. As concerns ...
Romania, to open uranium deposit, project estimated at over 400 million lei
Thursday, September 19, 2013
Romania will open a new uranium ore deposit located in Grinties Commune, Neamt County (eastern Romania), in the conditions in which the only deposit currently exploited, the one at Crucea (Suceava County, north-eastern Romania), is about to be exhausted, according to a government resolution draft the Economy Ministry initiated.The total value of the investment stands at 407.331 million lei (about 91.43 million euros), VAT included, out ...
RMGC: Licence to exploit Rosia Montana project is secret, according to Romanian law
Thursday, September 19, 2013
The licence to exploit the Rosia Montana project is secret as this is what the Romanian law stipulates and we do not want to break the law, Dragos Tanase, managing director of the Rosia Montana Gold Corporation (RMGC), told the Antena 3 TV channel on Saturday evening. 'Rosia Montana is given no special treatment, but we are in a legal framework. We have made public all the important information in the contract. This licence refers to ...
Final number of greenhouse gas emission certificates in period 2013 - 2020, calculated by Environment Ministry
Thursday, September 19, 2013
The final number of greenhouse gas emission certificates in the period 2013-2020 will be calculated by the Ministry of Environment and Climate Changes by multiplying the values of the preliminary allocations of relevant certificates submitted to the European Commission (EC) under the National Implementation Measures, with the value of the correction factors decided by the EC in line with Decision 2011/278/EU, reads a press release.To ...
Regulatory Committee of National Energy Regulatory Authority okays Monitoring Methodology of Regulated Electricity Market
Thursday, September 19, 2013
The Regulatory Committee of the National Energy Regulatory Authority (ANRE) has okayed the 'Monitoring Methodology of the Regulated Electricity Market,' according to an ANRE's press release.According to the ANRE, the drawing up of the monitoring framework of the regulated electricity market was determined by the requirements stipulated by Law no. 123/2012 on electricity and natural gas regarding mainly the ANRE's obligation to ...
Ukraine to pump reverse gas via Slovakia, Romania
Thursday, September 19, 2013
Ukraine is in talks with its European partners to open up new routes of reverse gas supplies - via Slovakia and Romania. This was disclosed by Energy and Coal Industry Minister Eduard Stavytsky at a government meeting. According to him, the opening of new routes will ensure the independence of Ukraine on gas supplies from Russia. "With the ...
ForMin Corlatean, ambassador Jumaev discuss Romania-Turkmenistan energy cooperation
Thursday, September 12, 2013
Romania's Foreign Minister Titus Corlatean and Turkmen ambassador in Bucharest Shokrat Jumaev on Tuesday discussed energy cooperation and political dialogue between Romania and Turkmenistan at a meeting in Bucharest, Romania's Foreign Ministry (MAE) reports.'Talks focused on the bilateral political dialogue, dialogue and cooperation between the foreign ministries of the two countries, economic cooperation, with emphasis on sectorial ...
Ponta: We will keep supporting Romania's energy independence
Thursday, September 12, 2013
Prime Minister Victor Ponta said on Wednesday he will keep on supporting Romania's energy independence, as he stressed Romania should learn from the experience of Poland, that has announced it chiefly places emphasis on coal and shale gas. 'We must learn something from Poland's experience! Romania's energy independence means taking bold decisions upon oneself, that will result in lower prices, a clear direction towards the West and the ...
Romanian Academy's Haiduc: The Rosia Montana project is unacceptable as it stands
Thursday, September 12, 2013
Chairman of the Romanian Academy Ionel Haiduc on Monday said the Academy is sticking to its position on the controversial Rosia Montana gold mining project and generally about gold mining in Mt. Apuseni, namely that the project is unacceptable as it now stands.'We are not against capitalising on Romania's natural resources, but this has to be done smartly, to the interest of the country and by observing sustainable development ...
Rovana Plumb: Environmental agreement for Rosia Montana depends on the decision of Parliament
Thursday, September 12, 2013
Environment Minister has made an announcement she will only make a decision on the approval of the environmental agreement for Rosia Montana project after finding out the result of the debates in Parliament on this matter. According to the Minister, after the new conditions are imposed, it is most probably this project to become 'the safest in Europe', compared with technologies and standards currently used in Italy, Spain, Finland and ...
Potocnik: Responsibility to apply EU law largely rests with Romania gov't on Rosia Montana
Thursday, September 12, 2013
The European Commission must fulfill the role incumbent upon it, of a guardian of the treaties, but the responsibility for applying the European legislation largely rests with the Government of Romania, European Commissioner for Environment Janez Potocnik said here on Monday.When asked about the Commission's stand on draft legislation relating a gold mining project in Rosia Montana (western Romania), that the Romanian Government ...
Gabriel Resources To Seek $4B In Damages From Romania
Thursday, September 12, 2013
Shares of Gabriel Resources Ltd. plunged as much as 54 percent on Monday after Romanian prime minister said that the Rosia Montana project should be abandoned due to rising opposition.Billionaire hedge fund investor John Paulson, backer of ...
Romanian crude oil imports down 9.2 pct in seven months
Thursday, September 12, 2013
Romania imported more than 2.576 million tonnes of oil equivalent in the seven months of 2013, by 261,800 toe (9.2 pct) less than over last Jan.-July, show figures centralized by the National Institute for Statistics that were released on Monday.The Romanian crude oil production totalled 2.243 million toe in the seven months of this year, by 1.3 percent (29,900 toe) less than in the same period last year.Romania retained as ...