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Energy & Environment
Transelectrica approved the construction of a hydro-power station at Izvoru Muntelui
Thursday, November 8, 2012
The operator of the National electricity system Transelectrica (TEL) offered the company Water Energy Systems in Bucharest the agreement for the construction of a hydro-power station of 300 MW at Izvoru Muntelui in Neamt county.The company Water Energy Systems is owned by a natural person Maria Soreanu. At Izvoru Muntelui there is another hydro-power station of 210 MW called Bicaz –Stejaru and owned by the state-owned company Hidroelectrica which is in ...
Initial public offering of Oltenia Energy Complex, to amount to 400 million euros
Thursday, November 8, 2012
The initial public offering of Oltenia Energy Complex will amount to 400 million euros and could be launched in the beginning of 2013, Craiova Power Plant Branch, Oltenia Energy Complex Director Constantin Balasoiu told a press conference on Wednesday on the national energy system.'The new investment needed stands at 1.2 billion euros, and the 400 million euros represent the difference between the own resources and the total necessary resources. Thus, the 400 million ...
Petrom's production of crude oil, natural gas and condensate down 1 pct in Q3, 2012
Thursday, November 8, 2012
The production of crude oil, natural gas and condensate reported by OMV Petrom in Q3 of 2012 amounted to 16.8 million barrels of oil equivalent (boe), down 1 percent compared to the same period of the year before, according to data released by OMV Petrom on Wednesday. Romania's total production of crude oil, natural gas and condensate also dipped 1 percent down to 15.7 million boe due to the natural decline in some key deposits.The domestic crude ...
OMV Petrom Group ends Q3 of this year with a net profit down 27pct
Thursday, November 8, 2012
OMV Petrom Group ended the third quarter of this year with a net profit of 864 million lei (approximately 190.7 million euros ), down 27 percent compared to that reported in the same period of 2011, the company informs.Group sales, excluding excise duties on oil products, in the third quarter, totaled 6.983 billion lei (about 1.54 billion euros), an increase of 17 percent from the same period last year.OMV Petrom operational profit calculated before ...
Energy giants promote gas and renewables 'ideal partnership'
Thursday, November 8, 2012
A new corporate coalition which says it will advance a low-carbon energy policy for Europe launched in Brussels last week. The coalition unites energy majors which so far include Alpine Energie, DONG Energy, First Solar, GE Energy, and Shell – all big investors in gas and renewable projects, who have taken strong positions supporting EU climate action. Executives from these firms stressed “the ideal partnership of gas-fired and renewable ...
Romania likely to put out renewable energy equipment
Thursday, November 8, 2012
At the moment, there is local interest in manufacturing renewable power equipment, Romanian Center for Trade Promotion and Foreign Investments (CRPCIS) general manager Dan Simion told the Bursa daily.CRPCIS promotes the local opportunities for manufacturing equipment and parts for the wind and solar parks the local market being explored for factories to be built, and to put out such equipment.'We hope the projects to become operational within one year. It ...
Oettinger backs new 2030 targets for CO2, renewables
Thursday, November 8, 2012
Günther Oettinger, the EU’s energy commissioner, greeted the launch of a new coalition promoting renewables and gas power with a call to set fixed emissions reductions and clean energy targets for 2030. “I think we need a new CO2 emissions reduction target,” he told a conference in Brussels on 31 October, which marked the launch of a new alliance between companies involved in renewable energies ...
Competition Council analyzes possible abuse of dominant position on energy market by CEZ Distribution
Thursday, November 8, 2012
The Competition Council /CC/ is analyzing a possible abuse of dominant position on the energy market by CEZ Distribution and the long-term contracts signed by Hidroelectrica, reads the Report 'Romanian competitive environment - developments in essential sectors 2012,' presented on Thursday in a specialist conference by Bogdan Chiritoiu, the CC's President.'The CC is conducting an in-depth analysis into the long-term contracts signed by Hidroelectrica and a possible ...
Green light for cyanide-free non-ferrous mining, law observance strictly required
Thursday, November 8, 2012
For non-ferrous mining to be able to restart in the county of Maramures, the companies will be required to comply with environmental legislation, Minister of Environment and Forestry Rovana Plumb declared on Thursday in Baia Mare (north-west of Bucharest).'We support the restart of the non-ferrous mining industry as a constructive component of national economy, but under observance of the environmental legislation in line with the European standards ...
Sterling Resources Announces Drilling Results of the Ioana-1 Well and Confirms Active Gas System, Romanian Black Sea
Thursday, November 8, 2012
Sterling Resources Ltd. announces the results of the exploration well on the Ioana prospect in Block 15 Midia in the Romanian Black Sea. The well was drilled to a total depth of 1,950 metres measured depth ("MD"), 1,513 metres true vertical depth subsea ("TVDSS"). Gas shows from drilling mud gas measurements were experienced from a depth of 500 MD down to total depth of ...
The Romanian government wants to draw more Chinese companies to electricity investments of over 3 billion dollars
Thursday, November 1, 2012
Several Chinese companies are courted by the Romanian government to get involved in energy projects of over three billion dollars in production units, the state secretary of the ministry of economy Rodin Traicu, quoted by Mediafax said. According to Traicu, the Romanian party proposed to the China Huandian Engineering to get involved in the construction of an electricity group of 400 MW for the Mintia thermal power station, investment of almost 400 milion ...
President Basescu informed by OMV Petrom company about stage of Nabucco project
Thursday, November 1, 2012
President Traian Basescu on Wednesday at the Cotroceni Palace welcomed a delegation of OMV Petrom headed by Chairman of Petrom Supervision Council and OMV's CEO Gerhard Roiss, who informed the President about the stage and outlook for the Nabucco energy project. According to a release of the Presidential Press Office, during the meeting, Traian Basescu referred to the level of investments OMV Petrom has made in Romania and plans to make further. ...
Giurgiu - Ruse gas pipeline completed at the end of 2013
Thursday, November 1, 2012
The Giurgiu - Ruse gas pipeline, which will run beneath the Danube and will be part of the Nabucco pipeline will be completed at the end of 2013, Secretary of State in the Ministry of Economy Rodin Traicu told a press conference on Tuesday.'As far as the Giurgiu - Ruse pipeline is concerned, if there is trouble and Bulgaria no longer receives gas via the pipeline from the Russian Federation, our system must be capable to supply the Bulgarian system in failure mode. ...
Romanian Authority for Nuclear Activities receives 200 milllion lei under budget revision
Thursday, November 1, 2012
The Romanian Authority for Nuclear Activities (RAAN) received 200 million lei under the last budget revision, which was the solution to the company getting out of the collapse, Secretary of State with the Ministry of Economy Rodin Traicu told a press conference on Tuesday. 'RAAN under the budget revision received 200 million lei for the heavy water it produced, which is to be delivered to the state reserve. This way it will get out of the collapse,' said Rodin ...
MOL Romania opens two new gas stations following aggregate investment worth EUR 1.3 ml
Thursday, November 1, 2012
MOL Romania opened two new gas stations, one in Ernei, near the city of Targu Mures, the other in Targu Neamt, following investments worth an aggregate of roughly 1.3 million euros, reads a company release sent Monday.'MOL Romania steadily pursues its growth strategy and with the freshly opened units located close to Targu Mures and Targu Neamt, respectively, our network now reached 133 stations. The two new filling stations enhance MOL Romania's presence in two ...
Allocation for increasing energy efficiency to represent 10% of total Regional Operational Programme
Thursday, November 1, 2012
The European sums allocated through the structural funds for increasing energy efficiency will represent 10% of all EU funds within the 2014 - 2020 Regional Operational Programme, State Secretary in the Ministry of Regional Development and Tourism (MDRT) Marcel Bolos told a Monday's press conference.'For the second allocation, for the 2014 - 2020 period, the budget for increasing energy efficiency is 10% of the structural funds,' said Marcel Bolos.The ...
ForMin Titus Corlatean highlights importance of completing refurbishment project in thermal power plant of Rovinari
Thursday, November 1, 2012
Romanian Foreign Affairs Minister Titus Corlatean on last Friday met State Council of People's Republic of China Vice Premier Li Keqiang, a context in which the importance of completing the refurbishment project in the thermal power plant of Rovinari was highlighted, the Foreign Affairs Ministry (MAE) informs. According to the cited source, during the talks they confirmed the solid base and the sustainable nature of the Romanian-Chinese relations, they ...
ForMin Corlatean: Chinese-funded wind park could be completed by the end of the year in Romania
Thursday, November 1, 2012
Romanian Foreign Minister Titus Colatean, currently on official visit to China, said he expects significant Chinese investments in the Romanian market, especially in the energy field, and that a wind park with Chinese investment could be completed by the end of the year in Romania.Titus Corlatean said he discussed with his Chinese counterpart Yang Jiechi about a series of big Chinese investment projects on the Romanian market.'At present, ...
EnviMin Plumb: Romania will have to carry over its surplus of assigned amount units
Thursday, November 1, 2012
Romania's Minister of the Environment and Forestry Rovana Plumb asked a meeting in Brussels of the European Union's Environmental Council to allow Romania to carry over its surplus of assigned amount units.' Romania's national reserve of assigned amount units as well as the substantial cut in the greenhouse gas emissions are the result of a difficult transition that had painful economic and social effects,' said Plumb.Romania's Ministry of ...
Non-repayable assistance worth 900,000 USD through pilot programme on waste waters
Thursday, November 1, 2012
South Korean KEITI Institute proposes the development of a pilot programme for waste water treatment, implying an non repayable aid worth 900,000 USD consisting in wastewater treatment equipment, Korea Business Center (KOTRA) informed during the Korea - Romania Environment Projects Forum 2012.Prahova County Council (north of Bucharest) will implement a renewable energy project in the programme. Korea's EnvironmentMinistry, through KEITI, and the ...