RSS
Energy & Environment
Romania To Export Gas Through Arad-Szeged Pipe In 2-3 Years At The Earliest
Thursday, May 26, 2011
Natural gas exports from Romania to Hungary will be technically feasible in two or three years at the earliest, though the government has pledged to do everything in its power for domestic producers to be able to sell their gas on other markets as well by the end of next year.The government "should take all the necessary actions to make sure the bi-directional flow of gas at the border with Hungary is set by the end of 2012", Romanian authorities wrote in the memorandum of understanding ...
Romenergo Offshoot To Invest EUR80M In Energy Projects By 2015
Thursday, May 26, 2011
The Bucharest-based Romenergo group created an energy production firm that will invest more than EUR80 million over the next five years, group general manager Dragos Bilteanu told MEDIAFAX."We have created a new company, Romenergo Generare, with only one field of activity - power generation. This firm will mainly unfold renewable energy projects through micro-hidropower plants, but there will also be a project for high efficiency co-generation, which was started three years ago," ...
Iancu (PSD): Romania urgently needs natural resources strategy
Thursday, May 26, 2011
Chairman of the Chamber of Deputies' Committee on Industries and Services, Social Democrat Iulian Iancu, criticises the fact that Romania imports all the necessary mineral raw materials, although it has natural resources aplenty. Iulian Iancu told a press conference on Thursday that Romania urgently needs a strategy for the exploitation of natural resources. ''One of the critical aspects awaiting a decision at European level is the supply of mineral raw materials. Back in ...
Hidroelectrica, interested in selling 15% stake
Thursday, May 26, 2011
Hidroelectrica plans to sell a 15% stake, which will be done in 2012, Tudor Serban, adviser at the Ministry of Economy, told a press conference. 'The recommendations of the IMF letter refer to selling a 10% stake in Hidroelectrica, but it is possible to sell even more. There are still negotiations and the sale of a 15% stake is wanted. A committee will be chosen and the sale could be done in 2012,' said Tudor Serban. Hidroelectrica general manager Constantin Trihenea said that the ...
Romania Needs Energy Competition, Not Full Privatization - Enel
Thursday, May 26, 2011
Romanian authorities need not privatize all energy companies or electricity producers, but the segment needs true competition, Friday said Luca D’Agnese, president of Enel Romania."You need not sell everything, don't worry. (…) The experience of other European countries has shown that it takes multiple competitors to form a market. If production is controlled entirely by one competitor, in this case the state, then there's no market," D'Agnese told reporters.He added the conventional ...
Gazprom to take over concession agreement for four oil exploration perimeters in Romania
Thursday, May 26, 2011
Serbian company Naftna Industrija Srbije owned by Gazprom signed an agreement with a Canadian company, East West Petroleum Corp that obtained from Romania in concession four oil perimeters: EX 2, EX 3, EX 7 and EX 8, Reuters informs. According to a press release of the two companies, the agreement sees cooperation to develop the four blocks. The agreement needs to be approved by Romania’s government. According to estimates, in Romania there are oil reserves of 1.4 billion barrels. ...
Romanian-Turkmen cooperation in oil and gas equipment supply
Thursday, May 19, 2011
The Romanian and Turkmen governments have decided to establish the participation of Romanian companies in tenders for the supply of oil and gas equipment as well as other necessary materials to the gas and oil companies of Turkmenistan, the Romanian Ministry of Economy, Trade and Business Milieu (MECMA) reports in a press release.The works of the second session of the Romanian-Turkmen Joint Intergovernmental Committee on Economic, Technical and Scientific Cooperation was held in ...
Transgaz net profit, up 3 pct in Q1 2011
Thursday, May 19, 2011
The Transgaz SA National Gas Transmission Corporation has reported RON 194.9 million (nearly 47.53 million euros) in Q1 2011 net profits, up 3 percent from the similar period of the year before.The company's business turnover was RON 457.6 million for the first three months of 2011, up 2.4 percent from the first quarter of 2010.Transgaz has total assets worth RON 3.67 billion, liabilities excluded.The 201 net turnover of Transgaz stood at RON 1.312 billion, up 10.58 percent from RON ...
Romania To Ensure Gas Exports Towards Hungary By End-2012
Thursday, May 19, 2011
Romania’s government pledged to make the needed steps to allow exports of natural gas towards Hungary by the end of 2012, according to the memorandum of understanding agreed with the European Commission, a document obtained by MEDIAFAX.The government will take all the necessary actions "to ensure that a bi-directional flow of gas at the border with Hungary is established before the end of 2012," the document reads. Romania's national gas system is linked with the Hungarian one ...
Transelectrica opens 400 kV station at Tariverde
Thursday, May 19, 2011
Romania's Transelectrica grid and Alstom-Emon Electric group have officially opened the 400 kilovolts (kV) transformer station at Tariverde, Constanta county (south-east of Bucharest), with the investment amounting to 26.5 million euros, according to the Transelectrica release.The funding stood for the funds provided by the Czech CEZ energy group and the connection charge revenues. The projects' implementation lasted two years.'The project represents the first important ...
Transelectrica and Transgaz next on sale agenda of state-owned minority share packages
Thursday, May 19, 2011
Transelectrica and Transgaz come next on the sale agenda of the share packages whose owner is the Romanian State through the Ministry of Economy, and minority stocks packages will be sold, in compliance with the agenda the authorities scheduled and presented the International Monetary Fund (IMF), the Ministry of Economy, Trade and Business Environment (MECMA) State Secretary Karoly Borbely told a news conference, on Tuesday. MECMA official was attending the meeting of the economy ...
Romanian-Dutch project on restoring Danube's floodmeadow
Thursday, May 12, 2011
A joint project on restoring the flood-meadow of the Danube River, worth 289,393 euros, will be run by Romania and the Netherlands, announced spokesperson for the Administration of the Jiu River Basin Camelia Barbutu.The main purpose of the project is identifying the areas in the Danube's vicinity prone to flooding and coming up with solutions to recover the arable land, which has been affected since 2006 by flooding at high flow rates. The idea of this project, partnered ...
Romania supports EU energy eco-efficiency
Thursday, May 12, 2011
Romania voluntarily joined the energy eco-efficiency segment, with this public policy present in the innovative projects and regulating instruments such as the plan of action for public eco-friendly acquisitions and the roadmap for implementing ETAP (Environmental Technologies Action Plan), concluded the first part of the conference 'Green Technologies for the Construction Sector,' held in Bucharest on May 5. According to the speakers, through the Green Procura discount, one of the ...
Cernavoda plant units 3 and 4 to be finished by July 2019
Thursday, May 12, 2011
The new deadline for units 3 and 4 of the Cernavoda nuclear power plant was set on July 2019, EnergoNuclear managing director Dragos Popescu told a press conference on Thursday. He presented the calendar of the execution works for the reactors, works to be performed between August 2013 and July 2019. 'This [project] is a development endeavour. All such enterprises are hard to predict. We signed an investment agreement back in 2008 without fully realizing we were supposed ...
Romania 1Q Power Output +2.3%, Resources +3.2% On Year
Thursday, May 12, 2011
Romanian power output rose 2.3% on the year to 5.93 million tons of oil equivalent in the first quarter, while the country’s primary energy resources increased 3.2% to 8.6 million tons of oil equivalent, official data showed Monday.Electric energy resources rose 8.7% on the year to 17.14 billion kilowatts hour in the first quarter, fueled by a 9.8% increase in production, Romania's statistics institute INS said. It said thermal power output was up 9.4% on the year to 9.02 billion KWh, ...
IMF: Romania To Sell Large Stakes In Key Energy Companies
Thursday, May 12, 2011
Romanian authorities will make the necessary arrangements to sell “significant stakes” in several key energy companies in the coming months, including nuclear power company Nuclearelectrica and gas pipeline operator Transgaz, an official of the International Monetary Fund said Monday."We are focusing particularly on the energy and transport sectors, as these are vital for the economic growth," IMF mission chief Jeffrey Franks told a news conference in Bucharest. Apart from ...
IMF: Romania To Free Gas Prices Gradually By 2015
Thursday, May 12, 2011
Romania will free the natural gas market in stages by 2013 for companies and between 2013 and 2015 for household consumers, Monday said Jeffrey Franks, the head of the IMF delegation to Romania."The decision was to adjust prices in time, at first for companies and later for household consumers. For companies, the decision was to adjust prices gradually, until 2013, and for household consumers, later, until 2015," Franks said.Previously, he said authorities would align to the European ...
IMF talks: thermal plants and mines will be grouped in two energy companies
Thursday, May 12, 2011
IMF talks with the Economy ministry presented a new reorganization formula for the energy sector. Therefore, instead of two energy giants, Electra and Hidroenergetica two smaller companies will be created that will group units in thermal plant industry with the mining industry. The first company will group the National Company of Lignite Oltenia and current complexes from Craiova, Turceni and Rovinari. The second company will group units in the National Coal Company with Paroseni thermal ...
Romanians, more affected than other Europeans by energy and fuel price increase
Thursday, May 12, 2011
Romanians are more affected than other Europeans by the price increase in the energy sector (energy and energy products, such as fuels), because the share of these expenses in the total expense volume of a household is much above average in the European Union, European Commission (EC) representatives maintain.'In the European Union, the energy invoice represents 10 percent on average of the total expenses of a household, in Malta, 6 percent, and in Romania, 17 percent. Consumers in ...
Jeffrey Franks, IMF: Heating subsidies for rich, to be removed
Thursday, May 12, 2011
Heating subsidies must not get to the rich, but only to vulnerable people and the Labour Ministry is working on a new project regulating the way in which the subsidies are granted, chief of International Monetary Fund (IMF) mission for Romania Jeffrey Franks said on Tuesday, while attending a symposium organized by the World Bank in Bucharest.In the case of heating subsidies, there is a regulating project the Labour Ministry is working on. It is about a scheme on the increase in ...