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Energy & Environment
Romania’s Romgaz Seeks to Extend 8-Block Licenses
Thursday, August 25, 2011
Romgaz SA, Romania’s natural-gas producer, seeks a three-year extension of exploration licenses for eight blocks, Mediafax reported, citing Alexandru Patruti, the head of the country’s mineral resources agency.State-owned Romgaz plans to invest a significant amount into exploration, the Bucharest-based news service said yesterday, citing unidentified company ...
RMGC: There are no financial ties between the company and any political party or candidate
Thursday, August 25, 2011
Rosia Montana Gold Corporation (RMGC) is firmly rejecting any accusations of direct or indirect financial ties existing between the company or its principal shareholder Gabriel Resources and any political party, RMGC says in a press release.'Being a public company floated on the Toronto Stock Exchange, Gabriel Resources and the companies making up the group, RMGC included, are fully observing the legal requirements and regulations in force concerning the implementation of solid ...
President Basescu: Romania will open two more gold mines to be managed by Romanian companies
Thursday, August 25, 2011
President Traian Basescu on Monday announced Romania will open two new gold mines in the period immediately ahead that will be managed by Romanian companies.'Romania will open two more gold mines in the period immediately ahead, but this time it will use Romanian companies,' Basescu told TVR public television channel in an interview at the presidential residence at the Black Sea resort of Neptun.Asked where the two miens will be located, he said 'somewhere on the national ...
TransAtlantic with Q2 Loss, Seeks Partners for Bulgarian Assets
Thursday, August 18, 2011
TransAtlantic Petroleum, which recently acquired 100% of Direct Petroleum Bulgaria, has registered a larger than expected loss in the second quarter of 2011. The Texas-based oil company, which has oil and gas developments in Bulgaria, Romania, Turkey, and Morocco, saw an April-June loss of USD 20.6 M, or 6 cents a share, compared with USD 16.4 M, or 5 cents a share, last year, international media report. TransAtlantic's total costs rose 67% to USD 39.9 M. However, the company ...
Rompetrol Well Services reports 6.63 million lei net profit after H1
Thursday, August 18, 2011
Rompetrol Well Services reported a 6.63 million lei net profit (approximately 1.5 million euros) after the first six months of this year, increasing about 17 percent compared with the similar period of last year, according to the half-year financial reports posted with the Bucharest Stock Exchange (BVB) on Thursday.In the period January-June 2011, the company registered total earnings amounting to 42.7 million lei and expenses accounting for 34.7 million lei, having a 40.39 million ...
Romanian CNH Debt To Budget Widens To RON4.6B In 1H
Thursday, August 18, 2011
Romanian state-owned coal mining company CNH’s total debt to the government budget widened 13% to 4.67 billion lei (EUR1.1 billion) in the first half of 2011, the country’s fiscal authority ANAF said Wednesday.The overall dues of the 10 biggest debtors to Romania's budget rose 10% to RON9.2 billion in the first six months.State-run rail company CFR SA reported total debt of RON2.15 billion, up 19% compared with December last year. Electrificare CFR ranks third with unpaid dues ...
Bloomberg: Polyus Has 3 Million Ounces of Gold in Kazakhstan, Romania
Thursday, August 11, 2011
Polyus Gold International Ltd., the mining company formerly known as KazakhGold Group Ltd., said it has 3 million ounces of reserves in Kazakhstan and Romania. The total is backdated to May and conforms to the JORC code of practice, the Moscow-based company said today in a regulatory statement. At current rates of production, the reserves will allow Polyus to mine gold in the region for 27 years. The company produced 110,000 ounces of gold in Kazakhstan last year, according to data on its ...
Gazprom commissioned USD 270 mln gas pipeline installed by Romanian company
Thursday, August 11, 2011
The gas pipeline installed by the Romanian company GSP (Petrol Services Group) was commissioned by Russia’s energy company Gazprom in June 2011. The project involved laying a 177 kilometers gas pipeline along the Russian continental shelf of the Black Sea, between Dzhubga-Lazarevskoe-Soci and connecting it with the Russia - Turkey inter continental pipeline. It is projected that the gas pipeline will have an annual throughput capacity of approx 3.8 billion cubic meters. “DLS ...
GE signs agreement with Transelectrica to build four wind farms in Romania
Thursday, August 11, 2011
GE has announced a 300MW grid-connection agreement between Romania's grid operator Transelectrica, and a joint venture between GE and German wind farm developer Prowind GmbH, will play a major role in the expansion of Romania's wind power sector. It will pave the way for Prowind, a renewable energy provider, to build four wind farms in northeastern Romania. The agreement covers the connection of the joint venture's wind farms to Transelectrica's new substation being built near the ...
Assessment of Rosia Montana gold mining project not to be stopped
Thursday, August 11, 2011
Hungary in principle does not agree with using cyanide at Rosia Montana, but this does not mean the procedure for the gold mining project assessment will be stopped, Romanian Minister of Environment and Forestry Borbely Laszlo said on Tuesday.'Last week we received the answer from Hungary relating the Rosia Montana project, six months after we sent the request. Hungary's position is one of principle, it was communicated in five lines by my counterpart. I'm taking note of this ...
Petrom Group's production of crude oil, natural gas, condensate rises 2% in H1
Thursday, August 11, 2011
The H1 production of crude oil, natural gas and condensate of Petrom Group totaled 33.76 million boe (barrels of oil equivalent - the editor's note), up by 2% from the same period of last year, due to higher production in Kazakhstan, according to the financial results made public by the company. In the same period, the total production of crude oil, natural gas and condensate in Romania reached 31.61 million boe, approximately the same level as in the similar period of 2010. ...
Romanian companies advance small hydro projects
Thursday, August 4, 2011
Hydro developer SC Hidro Este SRL is working to construct four small projects in Romania.As an EU member, Romania is obligated to attempt to supply a minimum of 35% of its electricity from renewable energy sources, including hydropower, by 2015 and 38% by 2020.SC Hidro Este plans to build the Pascoaia 1, 2, and 3 projects on the Pascoaia River and Priboiasa 1 on the Priboiasa River. The projects are anticipated to cost RON38.2 million (US$13.2 million) to build and RON27.6 ...
RoRec: 450-plus tonnes e-scrap collected over four months in Romania
Thursday, August 4, 2011
More than 450 tonnes of Waste Electrical and Electronic Equipment (WEEE) were collected between March and June 2011 by means of the 'The e-waste does not belong at home. Discard it!' campaign held by RoRec together with 31 local authorities, reads a release of the environmental association.The Romanian Recycling Association RoRec has run 100 WEEE collection actions all over the country since mid-March, in cooperation with the mayor offices.Thus, there have been 452,651 kg ...
Nationwide Electrification Would Cost Romania EUR211M
Thursday, August 4, 2011
Romania would need to invest some EUR211 million to connect some 60,600 unconnected households to the national power grid, Thursday said Marian Geanta, development manager of state-owned electricity distributor Electrica.The company official added there are 60,584 households without electricity in rural areas, in 2,100 localities. Among these, 96 villages are completely disconnected from the power grid."In the current context, Electrica cannot afford social work with high ...
Thermal energy production is put at 14.324 mln Gcal for next winter
Thursday, August 4, 2011
The thermal energy production to be supplied to the main thermo-electric and thermal power plants over Oct. 2011 - March 2012 is estimated at 14.324 million gigacalories (Gcal), according to the prognosis of the draft bill on the winter program 2011-2012 in the energy sector, published on the website of the Ministry of Economy, Trade and Business Environment.The highest quantity of thermal energy might be produced in Jan. 2012, namely 3.101 million Gcal while the lowest in Oct. ...
Enel in Line for European Investment Bank Loan for Romanian Wind
Thursday, August 4, 2011
Enel Green Power SpA (EGPW), a unit of Italy’s biggest power company, may receive as much as 200 million euros ($284 million) in funding from the European Investment Bank to build three wind farms offshore Romania. “The European Investment Bank confirms that it is currently evaluating a possible loan of 200 million euros to Enel Green Power Romania,” Richard Willis, a spokesman for the EIB, said in an e-mail today. The loan represents 50 percent of the projects’ total cost, ...
Gabriel Resources announces Q2 Results
Thursday, August 4, 2011
According to trhe website of the company, permitting for the Rosia Montana gold and silver mining project ("Project") remains the core focus of the business. The following recent progress has been made: o Ongoing engagement with the Technical Analysis Committee ("TAC") through its review of the Rosia Montana Environmental Impact Assessment ("EIA"). o Award of the Archaeological Discharge Permit for the Carnic open pit ("ADC") ...
PM Emil Boc: Romanian Mining Co CNH Petrosani To Receive RON136M Subsidy
Thursday, August 4, 2011
Romanian coal mining company CNH Petrosani will receive a subsidy of 136 million lei (EUR32 million) to continue its activity, Prime Minister Emil Boc announced Tuesday. The money will be allotted after the budget revision this month, once the European Commission gives its approval, said Boc.CNH Petrosani is undergoing a restructuring process, through which 900 employees will be laid off, starting in September, receiving severance pay.CNH, owned entirely by the state, has around ...
Romania pushes for clarity on wind power
Thursday, July 28, 2011
Romania currently hosts the largest on-shore wind park in Europe. Wind energy is booming in the economically weak country, yet investors remain worried about a lack of clear regulations. Strong winds and strong state support: Romania is on its way to becoming wind energy's paradise. Back in 2008, the Bucharest government agreed on a law to promote renewable energies, which it published in the Romanian government gazette.However, the European Commission has to approve these plans since ...
Market of energy efficiency projects stands at EUR 50 ml a year
Thursday, July 28, 2011
The market of energy efficiency projects amounts to 50 million euros a year and carries a high growth potential, Director of the Romania Office of the European Bank for Reconstruction and Development (EBRD) Claudia Pendred told a press conference on Thursday.'Demand in Romania for energy efficiency projects is high. Estimates show that this market amounts to EUR 50 million annually and the growth potential is immense. This will influence the price of energy, which is set to go up. ...