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Energy & Environment
Romania ranks 13th among world's most attractive countries for investments in renewable energy
Thursday, February 28, 2013
Romania keeps ranking 13th, the same position as last year, among the world's most attractive countries for investments in renewable energy, according to the Ernst&Young latest quarterly report named Renewable Energy Country Attractiveness Indices, sent on Tuesday. The Ernst & Young Country Attractiveness Indices (CAI ), related to the period Dec. 2012-Feb. 2013, places Romania ahead of countries such as Poland, Turkey, Spain and Austria.Concerning wind power ...
OMV Petrom, Repsol to jointly explore deep onshore blocks
Thursday, February 28, 2013
OMV Petrom and Repsol are signing today a farm-out agreement under which Repsol acquires a 49-percent working interest for the area deeper than 2,500 - 3,000 m of onshore exploration blocks located south of the Southern and Eastern Carpathians.OMV Petrom reports in a press release issued on Friday that it is about that Baicoi V, Targoviste VI, Pitesti XII and Targu Jiu XIII blocks'One of the major objectives of our strategy is to unlock the deep onshore ...
Bloomberg News: Romania Pledges Nabucco Gas Pipeline Won’t Be State-Controlled
Thursday, February 28, 2013
Romania, a transit country for the OMV AG-led Nabucco natural-gas pipeline, published a draft law pledging non-state control of its section of the link as the country seeks to reassure potential investors in the project. “It’s necessary to clarify the Nabucco ownership regime,” the Economy Ministry said in the bill on its website. “The project will be carried out through private investment and investors need guarantees to invest.” The ministry is ...
EcoMin: Zero green certificates for solar energy production is out of question
Thursday, February 28, 2013
The number of green certificates for solar energy production could drop, but zero green certificates for solar energy production is out of the question, because there is still a cost difference between producing electricity from renewable sources and producing electricity from conventional sources, Alexandru Sandulescu, director of the General Energy and Environmental Direction with the Economy Ministry, said on Thursday on occasion of the conference Conventional and Renewable Energy - ...
Petrom's net profit grew 5 percent due to strong operational performance
Thursday, February 28, 2013
Petrom's net profit grew 5 percent in 2012 due to a strong operational performance, partially counterbalanced by larger financial losses, company CEO Mariana Gheorghe told a press conference on Thursday.'Petrom's net profit grew 5 percent in 2012 due to a strong operational performance, the operational profit increased 7 percent mainly due to a larger contribution from the activity in gas and energy and the operational improvements. There was a positive contribution in all ...
Economy Ministry to remake national energy strategy
Thursday, February 21, 2013
Remaking Romania's national energy strategy for a time horizon running to year 2035 is a main target of the Economy Ministry, director general with the Economy Ministry Alexandru Sandulescu said Wednesday.He added that discussions are underway on a document that should be revised and a public debate on this document could be held this year.'Discussions are underway on a document that should be revised ...
Hidroelectrica's share capital to increase by 12.49 pct; 10 pct of shares to be floated
Thursday, February 21, 2013
The share capital of Romania's Hidroelectrica water power corporation will increase by 12.49 percent on private equity contributions, while 10 percent of the newly issued will be floated on the stock market, according to a privatisation strategy for the company posted on the website of the Economy Ministry.According to the background note, the increase in the share capital will be performed by an initial public ...
Environment Minister: EU funds absorption rate has tripled over past 7 months
Thursday, February 21, 2013
The value of the European funds absorption rate has tripled over the past 7 months, due to some sustained efforts, Environment and Climate Changes Minister Rovana Plumb said on Monday, February 18, according to a release.'At the mandate takeover, the European Commission had reimbursed Romania for SOP Environment the amount of 197.17 million euros, the absorption rate standing at 4.37 percent. In seven months, the ...
Mitschek: “NABUCCO is a Truly European Project”
Thursday, February 21, 2013
NABUCCO CEO Reinhard Mitschek spoke to Natural Gas Europe about the European gas market and Nabucco’s unique role within the Southern gas corridor. Speaking of the development of the project, Mr. Mitschek said: “Nabucco continues to advance in project development. In parallel with the signing of the agreements, we announced the commencement of the re-FEED for Nabucco West, which will ...
Corlatean: It's important EU communicates interest in Iraq's possible Nabucco participation
Thursday, February 21, 2013
Romanian Foreign Affairs Minister Titus Corlatean on Monday asked the European Union top diplomat Catherine Ashton to underscore, in the talks with the Iraqi authorities, the European bloc's interest in Iraq's taking part in the international energy security projects, since there is openness in Baghdad for supplying natural gas for Nabucco pipeline project.Corlatean said that the meeting of the ...
Construction of nuclear reactors 3 and 4, Tarnita hydro-power plant - a twinning project
Thursday, February 21, 2013
Cernavoda nuclear reactors 3 and 4 and the Tarnita-Lapustesti hydro-power plant are two projects that need to be carried out jointly, Minister-delegate for infrastructure projects of national interest and foreign investments Dan Sova declared on Thursday in a televised show.'Reactors 3 and 4 and Tarnita are two projects that need to be jointly carried out because the Tarnita plant has a rather unsubstantial logic ...
EcMin, Enel officials examine prospects for company's developing investments in Romania
Thursday, February 21, 2013
Romanian Economy Minister Varujan Vosganian and Enel company officials on Thursday discussed the prospects for the development of the Italian electricity company's investment programmes in Romania, the ministry said in a release.Vosganian had a meeting with Enel international division president Carlo Tamburi, Enel country manager Luca D'Agnese and Enel Romania foreign relations manager Radu Cosarca, the release ...
Rompetrol Group, to repurchase part of stock held by Romanian state in Rompetrol Rafinare
Thursday, February 21, 2013
Rompetrol Group will repurchase a part of the stock held by the Romanian state in Rompetrol Rafinare (the operator of the refineries Petromidia Navodari and Vega Ploiesti), and will continue to be a significant shareholder of the company in the County of Constanta, according to a release issued by the company on Friday.Rompetrol Group and the Romanian state, represented through the State Industrial ...
EU mulls 2030 targets for CO2 and renewables, but not energy efficiency
Thursday, February 21, 2013
The 27 EU Commissioners are meeting in Brussels Wednesday (20 February) to consider early proposals for 2030 climate targets covering CO2 emissions and possibly renewables. But the proposals aren't likely to extend to efficiency, despite EU data showing the continent is on track to miss its 2020 ...
Carbon taxation: An old-new idea whose time may soon come?
Thursday, February 21, 2013
In the debate over the future of the EU’s Emissions Trading System (ETS), a diverse and increasing vocal array of figures cutting across party lines has spoken out for an old-new way of cutting CO2 emissions: a carbon tax. Tuesday (19 February), the European ...
Bulgarian prime minister quits following mass protests over electricity bills
Thursday, February 21, 2013
Bulgarian Prime Minister Boyko Borissov resigned Wednesday (20 February) following boisterous public protests in the capital and several other cities over the price of electricity. Just hours after he had declared his intention to continue as prime minister, Borissov told the Bulgarian Parliament that he ...
Nabucco, AGRI on talks agenda of Economy Ministry and Hungary's Embassy in Bucharest
Thursday, February 14, 2013
Minister-delegate for Energy Constantin Nita, on Wednesday, welcomed a delegation of Hungary's Embassy to Romania, and their talks agenda scheduled topics such as the cooperation in energy, with an emphasis on the Nabucco Project and the Azerbaijan-Georgia-Romania Interconnector (AGRI) project.According to the release the Ministry of Economy, attending the talks were Hungary's Ambassador in Bucharest Fuzes Oszkar ...
Senators pass draft law on ratification of support accord on Nabucco Project
Thursday, February 14, 2013
Senators, on Monday, passed the draft law on the ratification of the support project agreement between Romania and the Nabucco Gas Pipeline International GMBH and Nabucco Gas Pipeline Romania - S.R.L on the Nabucco Pipeline System, with 141 votes in favour and 4 abstentions.According to the draft law the project support agreement represents an accord reached for the enactment of the Nabucco Agreement between a ...
The start of NABUCCO WEST Line Pipe Procurement
Thursday, February 14, 2013
NABUCCO Gas Pipeline International GmbH has announced the launch of the pre-qualification process for steel pipe producers for its 1320 km, 48” diameter gas pipeline. The announcement, which was submitted to the European Journal on 31 January 2013, requests potential suppliers to apply for the pre-qualification phase, the company said in a statement. Pre-qualification ...
Romagaz may opt to join oil operations on Midia block
Thursday, February 14, 2013
ExxonMobil, OMV Petrom, Romgaz and Romanian energy authorities on Wednesday signed an option contract for Romgaz' participation in the oil operations to be conducted on the Midia Black offshore block .The contact was signed by the management boards of the three companies in the presence of Prime Minister Victor Ponta, Economy Minister Varujan Vosganian, Minister-delegate for Energy Constantin Nita and head of the ...