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Energy & Environment
Transelectrica net profit eight times lower in first half
Thursday, August 16, 2012
The National Company of Power Transmission Transelectrica reported in the first half of this year a net profit of 22.582 million lei (about 5 million euros), about eight times smaller on a year-on-year basis, according to the non-audited financial results sent to Bucharest Stock Exchange The company turnover amounted to 1.447 billion lei, 8 percent lower compared to the first half of 2011 when it was 1.314 billion lei.The company revenues amounted to ...
Transgaz reports a net profit decrease by 17.5pct in first half of 2012
Thursday, August 16, 2012
The National Gas Transmission Company Transgaz Medias recorded a net profit of 210.35 million lei (some 47.37 million euros) in the first half of 2012, down 17, 5 percent compared to the same period of 2011, according to company financial information published on Monday on the Bucharest Stock Exchange website. Transgaz turnover amounted to 718.27 million lei in the first six months of 2012, a slight increase by about 0.79 percent compared to same period last year. ...
Hidroelectrica eyeing minimum profit in 2012 and 50 million euros in 2013 profits
Thursday, August 16, 2012
Hidroelectrica's receiver Euro Insol is expecting the embattled company to reach a profit of 50 million euros in 2013, after a 2012 profit that will be higher than the 1 million euro in 2011 profits.'If we contain to a large extent operational costs and investment spending we could talk of Hidroelectrica posting a profit even this year, although this is a difficult year with historic low production levels and the activation of the force majeure clause for the second ...
Central Depository registers Petromanas Energy shares in own settlement system
Thursday, August 16, 2012
The Central Depository /DC/, the company doing clearing-settlement operations for stock exchange transactions, registered on August 10, in its own system for cross-border transactions, the Petromanas Energy shares.These shares are listed on the TSX Venture Canada, Berlin Stock Exchange, Frankfurt Stock Exchange, Munich Stock Exchange, Stuttgart Stock Exchange, Nasdaq Other OTC.Through the cross-border settlement ensured by DC, Romanian investors can buy ...
Hidroelectrica to earn an additional amount of 150 mln euros, following renegotiation of contract with Alro
Thursday, August 16, 2012
Hidroelectrica will earn an additional amount of 150 million euros from the renegotiated contract with the largest producer of aluminum - Alro Slatina, announced on Monday, in a press conference, Remus Borza, representative of the liquidator of Hidroelectrica. 'From the renegotiated contract with Alro, of 2005, and conclusion of an additional document, Hidroelectrica will earn extra revenues, of between 540 and 600 million lei, about 150 million euros annually. It ...
Romania natural gas import down 28.7 pct by mid-year
Thursday, August 16, 2012
Romania imported a usable natural gas quantity of 1.459 million tons of oil equivalent by this mid-year, down 28.79 percent (586,800 toe) from the first half of 2011, show figures centralised by the National Institute for Statistics.The domestic natural gas production totalled 4.321 million toe Jan. to June, up by 2,900 toe (0.1 pct) on the six months of last year.A British Petroleum survey says the Romanian proved natural gas reserves amounted to 100 ...
Rompetrol Rafinare posts H1 loss of 131,837 ml US dollars
Thursday, August 16, 2012
In H1 2012, Rompetrol Group's Romania-based refining unit Rompetrol Rafinare saw 131,837 ml US dollars in loss, twofold the 63.71 ml US dollars in loss posted for the same period of the previous year, Rompetrol Group said in a release.The company posted a mid-year consolidated turnover of approximately 2.3 billion dollars, down 6 pct y-o-y.Against the backdrop of a declining demand for oil products on both the domestic and international markets, and ...
Two Cernavoda reactors produce over 6.4 mln MWh of electric power in 7 months
Thursday, August 16, 2012
The two reactors of Cernavoda Nuclear Power Plant (southeastern Romania) have produced 6.406 million megawatt/hour (MWh) of electric power in the seven months of this year, with 5.906 million MWh of it having been delivered to the National Energy System, show data published on company Nuclearelectrica Website.Unit 1 produced 2.863 million MWh Jan. to July and delivered 2.633 million MWh, thus recording an average capacity factor of 79.68 percent, while Unit 2 put out ...
Electrica prepared for privatization of branches
Thursday, August 16, 2012
The Power Distribution and Supply Company Electrica scheduled 57.575 million lei expenses for 2012 to privatize its branches, according to the budget of revenues and expenses published in the Official Gazette.According to a Government bill on a new privatization strategy of Electrica branches, Electrica Distribution Transilvania South, Electrica Distribution Transilvania North and Electrica Distribution Muntenia North, the shares capital of the three branches is set ...
First large photovoltaic farm in western Romania opens at Buzias
Thursday, August 16, 2012
The first large photovoltaic farm in western Romania opened at Buzias on Friday; it can provide the electric power to 1,000 families in the town for a year.The investment amounts to 2 million euros and was achieved by Constructim company based in Timisoara.Constructim officials said the project was implemented at Buzias because the company already owned the required land and such land was meeting all the technical requirements.'We decided to ...
Rompetrol Well Services - net profit of over 1.4 million euros
Thursday, August 16, 2012
Rompetrol Well Services has completed the first half of this year with a net profit of about 1.43 million euros (6.502 million lei), 2 percent lower than the result of 6.632 million lei during the similar period in 2011, according to financial information submitted on Friday to the Bucharest Stock Exchange. The company net turnover amounted to 47.396 million lei in the first six months of 2012, 2.92 percent lower than in the period January to July 2011. Rompetrol Well ...
Power producer Hidroelectrica to revert to normal legal status in Sept. or October
Thursday, August 9, 2012
Power producer Hidroelectrica will revert to its normal legal status in September or October this year, Prime Minister Victor Ponta announced on this Wednesday at the end of a meeting with a delegation of international financial institutions that is currently on a mission to Bucharest.'We sat down for talks and I think the input we received is important for our government's activity; in Hidroelectrica's case, although all the previous governments expressed their ...
Rovana Plumb insists on declassification of files on Rosia Montana
Thursday, August 9, 2012
Environment and Forestry Minister Rovana Plumb insists on the declassification of the files on Rosia Montana as it is about a natural resource belonging to the Romanian state and, implicitly, to Romanians, and therefore, transparency is needed in this situation.'I am waiting for the official and public position of Rosia Montana Gold Corporation. The existing legislation concerning the declassification does not require any amendments, the company must make proof of ...
EC: Environment: a new medals table for waste management
Thursday, August 9, 2012
A new report on how Member States manage their municipal waste shows startling differences across the EU. The report grades the 27 Member States against 18 criteria, using green, orange and red flags in areas such as total waste recycled, pricing of waste disposal, and infringements of European legislation. The resulting scoreboard forms part of an on-going study that will help Member States improve their waste management performance. Top of the table are Austria, Belgium, Denmark, Germany, ...
Petrom net profit up to 2.027 billion lei in H1 2012
Thursday, August 9, 2012
Petrom group reported a net profit of 2.027 billion lei during the first half of this year, 16 percent higher on a year-on-year basis, according to data published by the company.In the second quarter of 2012, the net profit of the group was 643 million lei, lower than the first quarter when it was 1.385 billion lei.The group's sales amounted to 12.2 billion lei in the first half of the year, 19 percent higher on a year-on-year basis. In the second half, ...
Statistics: Romania's primary energy resources decrease 2.8% in H1
Thursday, August 9, 2012
Romania's primary energy resources totaled, in H1 of this year, 17.269 million tonnes of oil equivalent (toe), decreasing by 2.8% compared with the same period in 2011, show the provisional data made public on Wednesday by the National Statistics Institute /INS/.According to the quoted source, domestic production totaled, from January to June 2012, 11.452 million toe, down 1.8% compared with H1 2011, while import stood at 5.816 million toe, down 4.7%.Of ...
Electric energy consumption increases in Romania by 1.5 percent in first six months
Thursday, August 9, 2012
The final electric energy consumption in Romania was 26.842 billion KWh in the first six months of 2012, up by 1.5 percent from the similar time span of the previous year, say the provisional data of the National Institute of Statistics (INS), which were published on Wednesday.Thus, over January-June 2012, out of the total final consumption of electric energy, public lighting saw a 6.5 percent growth, whereas people's consumption increased by 1.2 ...
Petrom gives go-ahead to Brazi power station commercial operations
Thursday, August 9, 2012
Petrom Company, the biggest oil and gas producer in Southeastern Europe, announced it completed the testing phase and is now giving the go-ahead to the commercial operation phase at Brazi power station, the southern Prahova county.When running to full capacity, the power station could cover some 8-9 percent of the electricity market, says a release sent the Bucharest Stock Exchange.'Starting Aug. 1, 2012, the power station can commercially supply ...
The demand for gas is estimated at 9.105 million MWh in August 2012
Thursday, August 2, 2012
The total demand for natural gas in August is estimated at 9.105 million MWh, according to the proposal in the report made by Transgaz and sent to the National Authority of Regulation in Energy (ANRE).The demand on the regulated market is estimated by Transgaz at 1.335 million MWh out of which 663.223 MWh for non-household consumers and 623,583 MWh for the household owners. The demand on the market for eligible consumers is estimated to be 7.012 million MWh and ...
Transelectrica opens 42 million euro credit to fund investment programme
Thursday, August 2, 2012
The National Company of Power Transmission Transelectrica signed a contract to open a credit worth 42 million euros with BRD, CaixaBank and ING Bank, the latter being the representative of the association, announces the company.The credit is granted for 84 months with a 24 month interest-free period.The loan aims to fund the investment programme of Transelectrica with the following significant targets: technological update of the ...