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Energy & Environment
Rompetrol: Drilling in Satu Mare block indicates presence of hydrocarbons accumulations
Thursday, March 29, 2012
The Upstream division of the Rompetrol oil group has recently finalised exploration drilling in the Satu Mare block in northern Romania, which comprises the wells of Madaras and Moftinu, with the production test having indicating the presence of hydrocarbon accumulations.'These preliminary results confirm the geological models having resulted from an integrated reinterpretation of the geological and geophysical data existing for the two structures. In order to assess the free ...
President Basescu in Seoul: Authorities operate changes in tender documentation for nuclear reactors
Thursday, March 29, 2012
President Traian Basescu stated on Tuesday, in Seoul, that currently the authorities in Bucharest are operating changes in the tender documentation, so that Romania can build two more nuclear reactors, adding that the bidding might be launched in the second half of this year. 'Definitely, there is interest. The problem we face now is that, in the aftermath of the accident at Fukushima, the authorities are working to amend the tender documentation, and that may be ready barely in ...
Lybek, IMF: Romania imports expensive gas and sells it cheap to certain companies
Thursday, March 29, 2012
Head of the International Monetary Fund office for Romania Tonny Lybek said on Tuesday that despite having significant natural gas reserves, but not sufficient, Romania imports expensive gas from Russia and sells it cheap to certain companies.'Romania is forced to import expensive Russian natural gas but it sells it cheap to some companies. Romania is a European Union state member and has to act in accordance with the European policies on natural gas prices,' said Tonny Lybek, who ...
Gov't passes decision regarding privatisation strategy of Electrica SA subsidiaries
Thursday, March 29, 2012
The Government has passed a decision regarding the privatisation strategy of the Electrica SA subsidiaries, Government spokesman Dan Suciu reported Tuesday. He added that the privatisation procedures will be carried out this year.'It is about the Transilvania Sud, Transilvania Nord and Muntenia Nord distribution subsidiaries of Electrica. The strategy is based on specific capital market methods. The implementation of the strategy entails offering for underwriting to investors a ...
Gov't approves oil lease agreements with Chevron on three blocks in Dobrogea
Thursday, March 29, 2012
The Government has approved three oil lease agreements with Chevron Romania on three oil blocks in the south-eastern Romanian province of Dobrogea.The three agreements between Chevron and Romania's National Mineral Resources Authority, passed on March 20, regards the EX 18 Vama Veche, the EX - 19 Adamclisi and the EX-17 Costinesti blocks.On March 6, Prime Minister Mihai-Razvan Ungureanu had a meeting at the Government House with a business delegation of the US Chevron ...
Cernavoda to host nuclear power conference
Thursday, March 29, 2012
The Cernavoda Mayoralty is holding a European conference on Thursday, March 29, on nuclear power development as a boost to community development, in its capacity as a member of the GMF Group of European Municipalities with Nuclear Facilities.Cernavoda Mayor Mariana Mircea says attending the conference will be officials of the GMF, an organisation of local communities located on the sites of nuclear power plants of Belgium, Spain, Hungary, Slovenia, Bulgaria, the Czech Republic, ...
Romanian Rafo wants EUR 70 mln loan for modernization
Thursday, March 22, 2012
Rafo Oneşti Refinery wants a EUR 70 million loan from its majority shareholder Petrochemical Holding Austria and from banks, to modernize equipment.The modernization plan needs the company’s shareholders’ approval in the April 18 meeting. Another proposal for the shareholders features a EUR 50 million guarantee scheme from EximBank.A year ago, Rafo announced plans for a EUR 80 million loan, either guaranteed by the state, or through the refinery’s assets, also for modernization ...
Gabriel Resources spends USD 61 mln on the Rosia Montana project in Romania in 2011
Thursday, March 22, 2012
Canadian Gabriel Resources spent USD 61 million on the Rosia Montana gold and silver mining project development activities in 2011, while in the fourth quarter of last year the amount was USD 21 million, according to the company. “The project remains a high profile issue in Romania, with wide coverage in television debates, on the internet and in print media, as well as being the subject of comment from leaders of all major political parties in Romania,” reads a statement from the ...
Economy Minister Bode: Authority over Transelectrica and Transgaz will be switched to other ministries
Thursday, March 22, 2012
Economy Minister Lucian Bode on Friday announced that under a new draft energy law, the Transgaz natural gas transmission corporation and the Transelectrica electricity transmission corporation will be switched from under the authority of the Ministry of Economy, Trade and Business Millieu to the authority of other ministries.He explained that this action is required for Romania to get in line with European rules that say there should be separate control bodies for electricity grid ...
Laszlo Borbely discusses with EU funding for greening polluted sites not belonging to local authorities
Thursday, March 22, 2012
Environment and Forestry Minister Laszlo Borbely in Targu Mures (central Romania) on Friday announced he was having talks with European Union officials on implementing the possibility of funding for greening polluted sites not belonging to local authorities.'At present, we can sign [funding contracts] only if the local authority takes over the plot of land [the contaminated site]. We are having talks with the European Union to make possible the funding for greening the sites that ...
ANRE: Price of gas for population and thermal energy producers, constant by March 2013
Thursday, March 22, 2012
The National Energy Regulatory Authority (ANRE) will set a structure of the mixture of natural gas by March 31, 2013 which should allow to maintain the price of natural gas for household consumers and CHP producers at the same level, according to a joint order issued by the Ministry of Economy, ANRE and the National Agency for Mineral Reserves, launched on Friday for public debate on ANRE website.'The structure of the natural gas mixture is set by the ANRE for household consumers ...
Net coal production grows 23.9 percent in January
Thursday, March 22, 2012
The net coal production of Romania in January 2012 amounted to 563,900 tonnes of oil equivalent, being 23.9 percent (108,900 toe) higher compared with the production registered in the similar period of last year, according to the data centralized by the National Institute of Statistics (INS).In January 2012, Romania imported 72,000 toe net coal, by 38,300 toe (113.6 percent) more compared with the quantity imported in the first month of 2011.According to a British ...
Environment ministry spends half the 18.5 bln euros earmarked for water sector - minister
Thursday, March 22, 2012
Minister of Environment and Forestry Laszlo Borbely told a specialized conference on Tuesday the ministry spent 9.4 billion euros of the total 18.5 billion euros earmarked for water-related works and projects by 2018, with the largest part of the European-funded projects being aimed at the water sector.'We made an inventory for a water system in accordance with the European Union standards. According to preliminary data, we needed roughly 18.5 billion euros for this component in ...
President Basescu says has broken any tie with Petrom in protest over recession-made profit
Thursday, March 15, 2012
President Traian Basescu on Sunday said he is the one to have broken any tie with Oil Company Petrom in protest over the excess profit the company made during the recession and he accused it of a lack of fair play.'I'm the one to have broken any tie with Oil Company Petrom in protest over the excess profit the company made during the recession', Basescu told Pro TV station when asked which ‘side' his is on, given Petrom obtained the highest profit, but the citizens are dissatisfied ...
First North Sea contracts for provider of offshore oil & gas services GSP
Thursday, March 15, 2012
Provider of offshore oil & gas services Grup Servicii Petroliere (GSP) won its first two offshore contracts in the North Sea, both awarded by Dutch company Wintershall Noordzee; one is an offshore drilling contract, the other a pipelay contract, daily Bursa reports on Monday.The first contract refers to the rig GSP Saturn, which is currently located on the continental shelf of Tunisia, and which will be relocated to provide offshore drilling services under a long-term contract that ...
Romania, U.S. shale deposits comparable
Thursday, March 15, 2012
Romania holds shale deposits comparable to those of U.S. or Poland, Zeta Petroleum managing director Bogdan Popescu declared on Tuesday at the Romania Upstream conference. 'There is only one region in Romania where shale gas is stored, the Moesian Platform. This is a shale gas reserve comparable to that of the U.S. or Poland,' he said.He mentioned that Romania's energy independence can be obtained once Black Sea exploitation starts, but the entire process is delayed by public ...
Global accord on nuclear safety needed urgently – World Energy Council
Thursday, March 15, 2012
A new international accord on the management and safety of nuclear power plants should be a priority for governments, an influential global energy organisation has said.A year after Japan's Fukushima reactor was shut down, the World Energy Council – whose members include many of the biggest energy companies from around the world – said an agreement was possible and should be a matter of urgency. "Global nuclear power is one of the rare issues on which an international accord could be ...
IAEA ‘concerned’ about world’s ageing nuclear plants
Thursday, March 15, 2012
Eighty percent of the world's nuclear power plants are more than 20 years old, raising safety concerns, a draft UN report says a year after Japan’s Fukushima disaster.Many operators have begun programs, or expressed an intention, to run reactors beyond their planned design lifetimes, said the International Atomic Energy Agency (IAEA) document which has not yet been made public.“There are growing expectations that older nuclear reactors should meet enhanced safety objectives, closer to that ...
Transelectrica stock exchange listing - successfully spiced bid
Thursday, March 15, 2012
The public stock exchange bid for the package of the Romanian Transelectrica electricity supplier has all possibly successful spices, Bucharest Stock Exchange (BVB) president Lucian Anghel said on Wednesday when I began the bid to last over March 14-27.'We have been waiting for five years that BVB may be used as a financing instrument to Romania's economy. It is an extremely important signal to the investors that we are willing to develop this financing alternative, said Anghel, ...
Europe’s energy goals ‘endangered’ by permit delays
Thursday, March 8, 2012
The EU’s 2020 energy targets will be imperilled if a three-year guillotine for transmission line permit appeals is watered down, the head of Europe’s electricity network operators warned yesterday (29 February) at the launch of a 10-Year network development plan.In a far-reaching projection, the European Network Transmission Systems Operators for Electricity (ENTSO-E) says that €104 billion will be needed to finance some 51,500km of high voltage power lines in the next eight ...