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Energy & Environment
Environmental protection expenditure up to 3pct of GDP in 2010 to 15.5 bln lei
Thursday, October 27, 2011
The Romanian environmental protection expenditure last year totaled 15.5 billion lei or 3 percent of Gross Domestic Product, up from 2.4 percent of GDP in 2009, show figures made public by the National Institute for Statistics on Thursday.The investments made by non-specialised producers accounted for 38.8 percent of overall investments in environmental protection or 1.843 billion lei, while the public administration investments accounted for 38.7 percent or 1.840 billion lei and ...
Lukoil Romania's contribution to Romania's Budget stands at $5 billion in five years
Thursday, October 27, 2011
Lukoil Romania has contributed $5 billion to Romania's Budget over the past five years, First Deputy Chairman of the Lukoil Group Vladimir Nekrasov told a recent anniversary event that celebrated the company's 20 years in business.'Lukoil has been doing business in Romania since 1998. It is operating on all segments of the energy industry. Its investment in Romania has reached 1 billion euro. We are constantly paying taxes. Over the past years, Lukoil's contribution to Romania's ...
Natural gas consumption, 96.165 million MWh over first eight months of 2011
Thursday, October 27, 2011
The consumption of natural gas in Romania totalled 96,165 million MWh over first eight months of 2011, roughly 4 percent higher on a year-on-year basis compared to the 92.578 MWh in the previous year, according to the data centralised by the National Energy Regulatory Authority.The local production of natural gas for consumption represented in August 76.53 percent of the total source with the first two producers (Romgaz and Petrom) providing for 92.5 percent of this source. ...
ENEL GREEN POWER STARTS UP AN ADDITIONAL 70 MW OF WIND POWER IN ROMANIA
Thursday, October 27, 2011
Enel Green Power's 70 MW "Salbatica II" wind farm is now operational in Romania. The plant, composed of 35 wind turbines of 2 MW each, is located near Tulcea, in the North Dobrogea area.The Salbatica II wind farm is expected to generate around 200 million kWh annually, enough to meet the power consumption needs of 66,000 households as well as avoiding the atmospheric emission of approximately 140,000 tons of CO2 per year."We keep expanding our presence in Romania at a rapid ...
Prices for natural gas, electricity should rise by 2 digits
Thursday, October 27, 2011
The prices for natural gas and electricity should rise by two digits, because the current ones are not sustainable, said on Tuesday the president of the Association of Energy Utility Companies (ACUE), Frank Hajdinjak, after the meeting with the International Monetary Fund (IMF) mission. 'We expect price rises, because the current prices are not sustainable, especially for natural gas but also for electricity. We must expect double-digit rises,' said Frank Hajdinjak, who is also the ...
Reuters:Romania needs to open energy markets, say investors
Thursday, October 27, 2011
Romania needs to open up its gas and electricity markets and stop capping prices if it wants to attract badly needed investment to its power generation sector, foreign officials and investors said on Wednesday.Energy investors and the European Commission, which requires member states to align its energy prices with EU levels over a number of years, have repeatedly criticised Romania for capping prices, saying it hurts competition and deters investment."Steps have been taken that ...
US Ambassador Gitenstein: Investors will not be drawn if energy market is not deregulated
Thursday, October 27, 2011
Investors cannot be drawn to Romania if the energy market is not deregulated, U.S. Ambassador in Bucharest Mark Gitenstein told the European Energy Development Conference on Wednesday.The energy market will be a great challenge to Romania and it must be deregulated, Gitenstein said.He underscored that the energy market liberalisation is a point of the strategic partnership signed by Romanian President Traian Basescu and U.S. President Barack Obama a month ago. The document says the ...
Romania endorses mechanism to increase transparency in energy agreements reached with third countries
Thursday, October 27, 2011
Romania backs up the EU Commission's proposal to set up a mechanism increasing the transparency and the information exchange on the bilateral agreements on energy that the EU Member States conclude with third countries, mechanisms aimed at ensuring the accords' compatibility with the EU Law, informs Economy, Trade and Business Environment Ministry (MECMA) release.Romania's Minister of Economy Ion Ariton met with DG Energy -EU Commission Director General Philip Lowe, on Wednesday.On ...
Over 200 Romanian installations to receive emission allowances allocated for free
Thursday, October 27, 2011
Over 200 Romanian installations will be awarded greenhouse gas emission permits allocated for free in accordance with the rules established to this end by the European Commission, under a memorandum concerning the submission to the European Commission of a list of installations falling under the scope of the EU greenhouse gas emission allowance trade scheme, approved by the Romanian Government at a meeting on Wednesday.The Ministry of the Environment and Forestry reports in a press ...
Romanian Govt Approves Renewable Energy Incentive Scheme
Thursday, October 20, 2011
Romania's Government on Wednesday approved the ordinance providing state aid through green certificates for renewable energy production, after repeated complaints about delays from business associations in the industry.The ordinance amends Law 2202008 concerning the promotion of energy production from renewable energy sources.Under this incentive scheme, investors earn money by selling the energy and by trading green certificates on the market, since energy suppliers are required to buy an ...
AFP:British, Dutch firms to drill for oil in Romania
Thursday, October 20, 2011
The Romanian government has granted oil and gas drilling rights in the Black Sea continental shelf to three companies from Britain, Romania and the Netherlands, official sources said Thursday.A consortium made up of Britain's Melrose Resources and Romania's Petromar Resources will drill in two offshore blocs awarded in 2009 to Romania by the International Court of Justice (ICJ) after a dispute with Ukraine, Alexandru Patruti, president of the Mineral Resources Agency, told ...
Oracle Energy: Production and Drilling Updates On Romanian Operations
Thursday, October 20, 2011
EUR"Oracle Energy Corp. (tsx.v:OEC) ("Oracle Energy" or the "Company") is pleased to announce that it has received updates from operator Amromco Energy LLC ("Amromco") on its Nadlac and Bordei Verde fields in Romania. These projects, which are previously producing fields are now on track to be developed. Oracle's interest in these fields has recently been increased from 6.5% to 8.78% as a result of the default of the 26% partner. "We feel this is a great opportunity to move the Company ahead ...
3 bln cubic metres of natural gas, stored for 2011-2012 winter
Thursday, October 20, 2011
The quantity of natural gas stored for the 2011-2012 winter stands at some 3 billion cubic meters, 63% of the total quantity coming from the domestic production, according to a release of the Ministry of Economy, Trade and Business Environment (MECMA).Romgaz has stored 2.75 billion cubic meters of natural gas and the other operators have stored the difference of quantity, up to the set demand of some 3 billion cubic meters of natural gas.According to MECMA, 37% of the ...
French investment of 780 million euros in wind farms, in eastern part of the country
Thursday, October 20, 2011
The French-owned company Filasa will invest in building a number of 11 wind farms, in nine localities in Suceava north-east of Bucharest , on a total area of 4,000 hectares, each wind farm having between 350 and 400 hectares, President of Suceava County Council (CJ) Gheorghe Flutur announced in a press conference. The investment of the French from Filasa, amounting to 780 million euros, will start in spring 2012 and will span over two years, in several localities. ...
Gov't approves concession agreements for 2 oil perimeters to be explored by Lukoil
Thursday, October 20, 2011
The Government approved in its weekly meeting two oil concession agreements for exploration, development and exploitation in the perimeters East Rapsodia and Trident of the Black Sea, sealed between the National Agency for Mineral Resources (ANRM) and Lukoil Overseas Atash BV, alongside Vanco International Ltd.According to a release of the Government, each perimeter covers an area of about 1,000 square kilometers, both being located on the Romanian side of the Black Sea. ...
Diesel fuel price rise reflects increasing demand, Petrom head says
Thursday, October 20, 2011
The rise in the diesel fuel price reflects the increasing demand for this fuel in Romania, Petrom Oil Company Managing Director Mariana Gheorghe told a news conference staged by the Foreign Investors Council on Wednesday.'The demand for diesel fuel has increased and the prices reflect the demand and offer. In Romania, we produce less than the demand. This is also the global trend', said Gheorghe in remarks about the rise in the diesel fuel price above the petrol price.OMV ...
Romgaz is to invest 520 million dollars over next 5 years
Thursday, October 13, 2011
Romgaz state-owned company will invest minimum 520 million dollars over the next 5 years in activities of exploration-development-exploitation in some areas with hydrocarbons, according to an additional clause to an agreement with the National Agency for Mineral Resources (ANRM) adopted by the Government on Wednesday.'By adopting this law, the compulsory investment volume over the next five years stands at 520 million dollars,' Premier Emil Boc pointed out.The Government ...
Romania's Green Certificate Trading Suspension Might Be Lifted By April 2012 - Minister
Thursday, October 13, 2011
Environment Minister Laszlo Borbely said Friday that he hopes Romania's emissions trading suspension will be lifted by the end of March 2012.An international team of experts came to Romania last week to analyze its progress in developing the national carbon emissions inventory, said Borbely, adding that the experts were satisfied. In August, the Kyoto Protocol committee decided to suspend Romania from trading carbon emissions certificates, after it noted breaches in the national emissions ...
Gas imports increase by 71.8pct in first 8 months of 2011
Thursday, October 13, 2011
Romania has imported in the first eight months of this year a quantity of usable natural gas of 2.132 million tons of oil equivalent, with 71.8 percent (890,900 toe) higher as compared to that of same period last year, according to the National Institute of Statistics centralized data. During the mentioned period, the domestic natural gas production totaled 5.7 million toe, being 0.9 percent (50,200 toe) higher as compared to that in the first eight months of last year. ...
Export of electricity ups 73.5% in first 8 months
Thursday, October 13, 2011
The export of electricity stood in the first eight months of this year at 2,070 billion kWh, up by 876.5 million KWh, by 73.5% respectively, compared with the same period in 2010, according to the provisional data of the National Statistics Institute (INS).The end consumption of electricity in this period was 34.799 billion kWh, by 3.9% higher than in the same period of last year. Public lighting decreased by 13.2% in the first eight months, and population's consumption increased ...