RSS
Energy & Environment
Oil imports decrease 14.6% in first seven months in 2012
Thursday, October 4, 2012
Romania imported in the first seven months of 2012 a crude oil amount in excess of 2.837 million tonnes of oil equivalent (toe), down by 485,000 toe (14.6%) than in the same period of last year, according to data centralized by the National Institute of Statistics (INS).Oil production stood, in the January - July period, at 2.273 million toe, by 1.8% (42,200 toe) lower compared with that in the first seven months of 2011.According to a ...
Imports of natural gas drop 26% in first seven months
Thursday, October 4, 2012
Romania imported in the first seven months of 2012 an amount of usable natural gas of some 1.54 million tonnes of oil equivalent (toe), by 26% (539,800 toe) less than that in the similar period of 2011, according to the data centralized by the National Institute of Statistics (INS).In the said period, the domestic production of natural gas totaled approximately 5 million toe, by 6,900 toe (0.1%) lower compared with that in the first seven months of ...
Rompetrol Group, Romania's Government discuss future cooperation
Thursday, October 4, 2012
The leadership of the Rompetrol Group discuss a future collaboration with the Romanian state owning 44.69 percent of Rompetrol Group's Romania-based refining unit Rompetrol Rafinare, with a working group made up by the Executive, TRG Executive Manager Zhanat Tussupbekov said on Sept. 27 in Petromidia (south-east).'Romania's Government is one of the company's shareholders. It owns 44.69 percent of shares. We are discussing a future cooperation with a ...
Romania's Rompetrol plans to enter the Turkey market
Thursday, October 4, 2012
Romanian Rompetrol, which has already set up an office in Turkey, wants to enter the Turkish market next year in either wholesale or retail, says a senior VP at the firm. Rompetrol, a unit of Kazakhstan's state-run national oil and gas company KazMunayGas, headquartered in Amsterdam, is involved in talks with Turkish firms in order to penetrate the fuel-distribution market in Turkey, a senior company manager has ...
Two consortia submit bids to broker Nuclearelectrica shares' listing on BVB
Thursday, October 4, 2012
Two consortia have submitted bids to broker the initial public offering of 10-percent share in Nuclearelectrica on the Bucharest Stock Exchange (BVB), the Economy Ministry informs in a release sent on Friday. The first consortium is made up of Wood & Company Financial Services SA. the Czech Republic (trade union leader) and SSIF Intercapital Invest SA, and the second of SSIF Swisscapital SA (trade union leader) and SC BT Securities ...
Romania, 13th in terms of attractiveness for investors in renewable energy projects
Thursday, October 4, 2012
Romania ranks 13th in the world in terms of drawing investors to develop renewable energy projects, Dan Simon, director general of the Romanian Centre for Promotion of Commerce and Foreign Investments /CRPCIS/, has told AGERPRES.'It is a relatively new field and young people are involved in it. I hope we will reach also an advantageous price equation for the household consumer,' said Simon.Currently, according to the data with the ...
Government approves measures to solve infringement on petrol emissions
Thursday, October 4, 2012
The Government on Wednesday, September 26, approved the technical requirements for the limitation of emissions of petrol vapor arising during refueling of vehicles and from the storage, loading, unloading and distribution of petrol at terminals, as a necessary measure toward solving an infringement announced by the European Commission (EC), shows a release of the Environment and Forestry Ministry (MMP).The Romanian Government approved on September 26 ...
MECMA aims to connect national electricity market to European market by the end of 2014
Thursday, September 27, 2012
The Ministry of Economy, Trade and Business Milieu (MECMA) targets a memorandum to connect the national electricity market to the European electricity market by the end of 2014, said Alexandru Sandulescu, director within MECMA, on Wednesday during a thematic conference.'A European council set late 2014 as target, somewhere in the spring of last year, to integrate all the national electricity markets in the European Union. ... If we take a look around ...
MECMA's Sandulescu: Hidroelectrica's insolvency could be raised this November
Thursday, September 27, 2012
The insolvency of the Hidroelectrica water power company could be raised this November according to the talks with representatives of the International Monetary Fund (IMF) and the World Bank, official Alexandru Sandulescu of the Ministry of Economy, Trade and Business Milieu (MECMA) told a press conference on Wednesday.'From the talks with representatives of the International Monetary Fund and World Bank I attended, I understood that the insolvency of ...
CCR overrules President's objections against privatisation of Petromidia
Thursday, September 27, 2012
The Constitutional Court of Romania (CCR) on Wednesday overruled as inadmissible President Traian Basescu's written constitutionality objections against a law approving a Government Emergency Ordinance, under which easy terms were extended for the privatisation of the Petromidia oil refinery.'By a majority ruling, the court has overruled as inadmissible the constitutionality objections against the law approving Government Emergency Ordinance 248/2000 ...
Ministry of Environment decides to issue certification to finish Units 3 and 4 of Cernavoda power plant
Thursday, September 27, 2012
The Ministry of the Environment and Forestry decided to issue the environment certification to resume building and finishing Units 3 and 4 of Cernavoda nuclear power plant.An announcement from the ministry posted on the institution website reads that the decision was made following the assessment of the quality report on the environment impact of the project 'Resuming works of building and finishing Units 3 and 4 of Cernavoda nuclear power ...
Chinese Renesola buys Romanian photovoltaic park
Thursday, September 27, 2012
Chinese photovoltaic panels producer Renesola entered the Romanian market by acquiring Romanian company Lucas Est, which runs a photovoltaic park in the country, according to Wolf Theiss law firm, which assisted the buyer.Renesola is currently involved in due diligence and several acquisitions in Romania, according to the law firm. The value of the recent deal was not announced. Lucas Est runs the Dumbrava ...
Bloomberg : EBRD Studies Loan for Romanian Wind Farm Sought by ERG, Lukoil
Thursday, September 27, 2012
The European Bank for Reconstruction and Development is considering a loan for a Romanian wind farm being bought by a joint venture between Italy’s ERG SpA (ERG) and Russia’s OAO Lukoil. The EBRD, based in London, is in discussions with Lukerg Renew GmbH to provide debt for the 84-megawatt facility in Tulcea, Louis Borgo, a senior banker in EBRD’s power and energy utilities team, said today by e-mail. ...
IEA: Transport fuel use could be halved by 2030
Thursday, September 27, 2012
Fuel consumption could be halved in 20 years' time if the right policies are put in place, despite an expected doubling in the number of cars in circulation worldwide, according to the International Energy Agency. Increased demand from transport, which currently accounts for one-fifth of global final energy consumption, is expected to make up all future growth in oil use worldwide, the IEA predicted in a two reports published on Wednesday (19 ...
Gazprom may unbundle to escape EU claims
Thursday, September 27, 2012
Russia’s Gazprom will split its European assets to meet requirements of EU’s "third energy package" and avoid anti-trust claims by the European Commission, Russian news media reported. The Commission said it had no comment on the reports. The planned change implies the split of Gazprom into two entities, one selling natural gas to European customers, and another one transporting the gas. The Interfax news agency reported ...
Lithuania and Romania to cooperate for alternative routes of natural gas transmission
Thursday, September 20, 2012
Romania and Lithuania will cooperate to provide alternative routes for gas transmission said Dalia Grybauskaite, president of Lithuania after a meeting with Traian Basescu, noting the European Southern Corridor projects and the future Nabucco pipeline. “Lithuania and Romania will cooperate in their efforts to end as soon as possible the energy isolation of distinct regions in the EU, in energy and nuclear security problems, and also to ensure an alternative ...
Premier Ponta: Energy law is well received overall, yet adjustment still needed
Thursday, September 20, 2012
Premier Victor Ponta said on Thursday, Sept. 13, in Tulcea (eastern Romania), that the energy law was well received by private investors, but still needs improvement.''The new energy law, one of the absolutely necessary major structural reforms we carried out in Romania in a very short period, is a complex law which inevitably left some areas where adjustments still need to be done. For example, the people here (the Tulcea-based Alum SA, Ed. note) told me that they ...
Romanian Gov't approves memorandum on renegotiating 2 conventions on natural gas transmission from Russia
Thursday, September 20, 2012
Romania will renegotiate with Russia two conventions on making available the gas transmission capacity on the gas pipelines located on the Romanian territory, in its entirety. The Government approved on Wednesday a memorandum on opening negotiations with Russia on the convention draft between the Romanian and Russian Governments regarding the transport of natural gas on the Romanian territory, after the European Commission (EC) had launched action against Romania for ...
Romgaz, when listed on BVB, will benefit from an enhanced attractivity
Thursday, September 20, 2012
Romgaz Co. will be more attractive after listing, both for private pension funds, as well as for mutual funds and financial investment companies (SIFs), a success for Romania following the completion of transactions in amount of several hundred million euros, the president of Bucharest Stock Exchange, Lucian Anghel, said on Wednesday.BVB president also said he is waiting with great interest the listing of Hidroelectrica Co. on the stock market, after exiting the ...
Environment Minister: Rosia Montana Project must observe legal provisions
Thursday, September 20, 2012
The Rosia Montana Project is a project of national interest and its assessment is currently in progress, but till the procedure of financial guarantees is not completed and two EU directives are not transposed into the Romanian Law, we cannot talk of a decision, Minister of Environment and Forests Rovana Plumb told a news conference, on Tuesday. 'The Ministry of Environment endorses any investment, on one condition, it must meet the legal provisions. At the moment, ...