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Energy & Environment
Romania and Serbia analyse funding of Iron Gates 3 energy project
Thursday, November 10, 2011
Prime Minister Emil Boc along with his Serbian counterpart Mirko Cvetkovic mandated the responsible ministers to analyse the funding sources necessary for the implementation of the energy project related to the Iron Gates 3, on the Danube river.'We discussed and we proposed a concrete analysis of the Iron Gates 3 project's implementation. We mandated our responsible ministers to examine the funding sources and the implications of this extremely important project for our countries' ...
U.S. Ambassador visits Cernavoda nuke plant
Thursday, November 10, 2011
U.S. Ambassador in Bucharest Mark Gitenstein on Friday visited the Cernavoda nuclear power plant (south-east of Bucharest), on the occasion of a two-day seminar organized by the Commercial Service of the U.S. Embassy in Romania, an Embassy release informs. Ambassador Gitenstein was accompanied by a delegation made up of representatives of several American companies specializing in nuke power, such as Babcock and Wilcox, Curtiss-Wright Flow Control Company, GE Energy, Westinghouse, ...
Dafora starts drilling works for Aurelian Oil&Gas company
Thursday, November 10, 2011
Dafora started drilling works for a well included in the exploration program of the British company Aurelian Oil&Gas PLC, through the subsidiary Aurelian Petroleum SRL, the company informs in a release sent to the Bucharest Stock Exchange (BVB).Located in Suceava county (northern Romania), the well 1 - Horodnic will have a final depth of 2385 meters and the drilling works will last nearly 50 days.Leader on the Romanian drilling market, Dafora carries out onshore drilling ...
Crude imports by 5.2 pct lower, in Sept 2011
Thursday, November 10, 2011
Romania imported 4.287 million toe crude, in the first nine months of the year, namely by 236,100 toe (5.2 percent) less than during the same time span in 2010, National Statistics Institute (INS) data say.The crude production amounted to 2.967 million toe, over the above-mentioned period, namely by 2.5 percent (74,600 toe) smaller than that of the first nine months of 2010. Romania ranked the 9th among the top European and Eurasian oil companies, in 2010, when it put out ...
Electricity consumption up 4.3 pct in first 9 months of 2011
Thursday, November 10, 2011
Final electricity consumption in Romania stood at nearly 39.122 billion KWh in the first 9 months of 2011, up 4.3 percent compared with the same period of 2010, according to the provisional data released by the National Statistics Institute (INS).Public lightning consumption fell 12.3 percent and population consumption rose 2.7 percent. Romania's export of electricity exceeded 2.215 billion KWh, up 619.6 million KWh, namely by 38.8 percent.Technology consumption in networks ...
Net coal production goes up 14.3 pct
Thursday, November 10, 2011
Romania's net coal production amounted to 4.941 million toe, over the first nine months of the year, namely by 14.3 percent (619,800 toe) higher than that of the similar period in 2010, National Statistics Institute (INS) data inform.Romania's net coal imports stood at 345,900 toe, over Jan-Sept, 2011, by 60,000 toe (14.8 percent) less compared to the coal imports during the same period, last year.According to a British Petroleum report Romania's coal reserve amounted to ...
INS: natural gas imports go up 54.7 pct
Thursday, November 10, 2011
Romania imported 2.232 million toe usable methane during the first nine months of the year, namely by 54.7 percent (79,700 toe) more than that of the same time span, last year, National Statistics Institute (INS) data report.The local natural gas production totaled 6.338 million toes, during the above-mentioned period, by 0.1 percent (4,200 toe) lower than that of the first nine months, last year.Romanian's proved methane reserves amounted to 600 billion cu.m, at end ...
Oil Company Petrom doubles profit to 3 bln lei in 9 months
Thursday, November 10, 2011
OMV Petrom Group ended the nine months of this year in net profit of 2.921 billion lei (some 690 million euros), double the 1.411 billion lei reported at the end of the three quarters of 2010, the company announced.The oil company's third-quarter net profit stood at 1.176 billion lei (around 278 million euros).In the third quarter, Oil Company Petrom kept on benefiting from the favourable climate relating the crude price and by the positive effects of the strict cost ...
The 4th edition of the RENEXPO South-East Europe Energy International Trade Fair of Romania opened on Wednesday in Bucharest at the Palace Hall
Thursday, November 10, 2011
Minister of the Environment and Forestry Laszlo Borbely told the opening on Wednesday of Romania's International Energy Trade Fair that an ordinance has been completed under which state aids are granted in the form of green certificates for the generation of renewable energy.'After three years of talks, we have finally completed an ordinance that amends and supplements Law 2202008 concerning the establishment of a system to promote the generation of energy from renewable sources. ...
Azeri Socar to invest nearly $100 million in Romania in 2012
Thursday, November 3, 2011
Azeri Government-owned Socar oil company will invest nearly $100 million in Romania in 2012, Socar CEO Rovnag Abdullayev told a news conference on Monday in Botosani. He said the company will open 15 fuel stations in Romania by the end of 2011, with tie number of such stations to increase in 2012.'We are already working on a new investment plan. Next year we will continue our investment and reach $100 million. We have an investment plan that covers the entire country,' said ...
Energy exports drop 12.9 pct, in 2010
Thursday, November 3, 2011
The energy export dropped by 12.9 percent, in 2010 compared to 2009, down to 4.052 million tonnes of oil equivalent (toe), the gasoline and diesel oil exports posing for round 60 percent of the total, National Statistics Institute (INS) data say.Romania's energy exports also include bunkering, namely the process of supplying the international ships with fuel, regardless of colors.On the other hand, the energy imports saw the same level like in 2009, namely 11.239 million ...
Possible Romanian-Serbian partnership for building hydropower plant on Danube River
Thursday, November 3, 2011
Romania and Serbia have analysed the possibility of developing a joint investment project for building a pumped storage hydropower plant on the Danube, the investment having the same partnership model as the one for the construction of the Iron Gates 1 and 2 hydropower plant, according to a release of the Ministry of Economy, Trade and Business Environment (MECMA).Economy Minister Ion Ariton in Belgrade on Tuesday met Serbian Infrastructure and Energy Minister Milutin Mrkonkic, ...
Romania’s Electrica Increases Nine-Month Profit Fourfold
Thursday, November 3, 2011
Romanian state-held power distributor Electrica SA posted a fourfold increase in nine month profit to 142 million lei ($46 million) compared to the same period a year earlier, the company said today in an e- mailed statement. The company didn’t give any comparative figures. ...
Cyprus’s EPGE Plans to Invest $191 Million in Romanian Wind Farm
Thursday, November 3, 2011
EPGE, a Cyprus-based privately held company, plans to invest about 135 million euros ($191 million) in a wind farm in Romania and the European Bank for Reconstruction and Development may help finance the project, the bank said on its website. EPGE seeks to build an 80 megawatts wind park in the southern Romanian region of Dobrogea, one of the country’s windiest areas, according to EBRD. The construction is expected to start in the first part of 2012 and last about one year. EBRD said it may ...
ANMR: Romania's crude oil reserves are enough for next 15 years
Thursday, November 3, 2011
Romania's crude oil reserves are sufficient for the next 15 years and the natural gas ones for the next 10 years, said on Thursday the president of the National Agency for Mineral Resources, Alexandru Patruti, at the European Energy Development Conference. 'The crude oil geologic reserves Romania still has amount to 2.02 billion tonnes. The certain ones are of only 54.8 million tonnes and are sufficient for the next 15 years', said Patruti. The crude oil production ...
ANRM: Romania's certain mineral reserves of natural gas, enough for next decade
Thursday, November 3, 2011
The mineral reserves of natural gas of Romania amount to 660,602 billion cubic metres and the certain mineral reserves account for 109,284 billion cubic metres, enough for the following decade, president of the National Agency for Mineral Reserves (ANRM) Alexandru Patruti told the conference European Energy Development. 'The mineral gas reserves of Romania amount to 660,602 billion cubic metres and the certain mineral reserves account for 109,284 billion cubic metres. The certain ...
Sterling reaches agreement with Romanian Government
Thursday, November 3, 2011
Sterling Resources Ltd reached an agreement with the Romanian Government on a set of measures to solve the issue signalled to the Romanian state on June 20, 2011. Thus, the two parties reached an agreement on the transfer of participation quotas of the prospecting rights at some perimeters in the continental shelf of the Black Sea towards Sterling's partners, namely Petro Ventures International Ltd (20 percent) and Gas Plus (15 percent), according to the company. 'During a meeting ...
Gabriel Resources posts Q3 loss of $3.6M, says planning for Romanian mine on track
Thursday, November 3, 2011
According to The Canadian Press, Gabriel Resources Ltd. (TSX:GBU) reported Wednesday a third-quarter net loss of $3.6 million, reversing a year-ago profit of $13.1 million as the development-stage miner booked losses due primarily to currency fluctuations and a year-ago tax credit.Toronto-based Gabriel said its planning and negotiations for development of the massive Rosia Montana in gold-silver project in Romania remain on track, despite some continuing opposition to the ...
Romanian Academy considers Rosia Montana project controversial and dangerous for Romania
Thursday, November 3, 2011
Vice President of the Romanian Academy Ionel Valentin Vlad said on Friday that the aforementioned institution considers the Rosia Montana gold mining project 'controversial and dangerous for Romania', while attending the debate titled Facts about Rosia Montana Project, staged by the delegation of the MEPs members of the Social Democratic Party (PSD, in opposition).'The Romanian Academy once again requests the Romanian authorities to examine carefully the project under all its ...
Delayed Rosia Montana project could send negative signal to other investors - Canada ambassador
Thursday, November 3, 2011
The delayed implementation of the Rosia Montana project could send a negative signal to other investors too, Canadian ambassador to Romania Philippe Beaulne told the Deputies' Chamber Commission for the Romanian communities outside the country's borders on Wednesday.Beaulne stressed, however, that the decision on the gold-mining project in western Romania rests with the Romanian state, the Deputies' Chamber said in a release to Agerpres.Also tackled during the meeting was the issue ...