RSS
Energy & Environment
Requests To Hike Gas Prices Are Justifiable - Romanian Energy Watchdog
Thursday, May 12, 2011
Natural gas suppliers operating in Romania are entitled to request the increase of regulated prices and the use of reserves for several industrial consumers, according to a document of the local energy regulator ANRE.The authority issued a document saying there are multiple factors justifying a gas price increase, including the higher price of imported gas, the weight of imports in the consumption basket, the reduction of nationwide consumption and the rising inflation. Romania ...
Romania To Sell More Than 10% In Nuclearelectrica, Hidroelectrica
Thursday, May 12, 2011
Romania will sell more than 10% in state-owned energy producers Nuclearelectrica and Hidroelectrica, an International Monetary Fund official told MEDIAFAX in an interview. Jeffrey Franks, head of the IMF mission in Romania, said the fund and the Romanian authorities haven't defined an exact stake to be sold in the two companies. "In the case of Hidroelectrica and Nuclearelectrica we agreed that we will look at the exact percentage later, but I think the word significant in this case is ...
The government agreed with the IMF to cut heat subsidies bills can rise by 60%
Thursday, May 12, 2011
The government committed to the IMF to cut heat subsidies in the upcoming period which will increase the costs incurred by the population for heat and hot water by up to 60% by the end of the year depending on the capacity of mayors to cover the difference from their own sources, Romanian news agency Mediafax reports. The subisdies for themal energy is offered from the state’s budget and from local budgets. IMF chief of mission in Romania, Jeffrey Franks declared for Mediafax that ...
OMV will not participate in OMV Petrom secondary public offering
Thursday, May 5, 2011
OMV, the leading energy Group in Central and Southeastern Europe, herewith announces its decision not to participate in the OMV Petrom S.A. secondary public offering which is expected to happen in the coming months. The Ministry of Economy, Trade and Business Environment, which is acting on behalf of the Romanian state, has the plan to sell a 9.84% stake via the Bucharest Stock Exchange.As a 51% owner of OMV Petrom S.A., OMV has already control of the company and an increase in the ...
Bulgarian-Romanian Gas Interconnection Underway
Thursday, May 5, 2011
The gas connection between Bulgaria and Serbia will be funded within OP Regional Development The development of the gas interconnections of Bulgaria with Greece and Romania are a top priority for the government, said energy minister Traicho Traikov during a meeting with the ambassadors of EU-member countries.A joint-venture between the Bulgarian Energy Holding and Greek company IGI Poseidon has already been created. Furthermore the Bulgarian and Romanian counterparts are already ...
Over 2.5bln euros for water systems upgrade and expansion projects, in 2011
Thursday, May 5, 2011
More than 2.5 billion euros will be spent, by the end of this year, on 23 projects expected to be approved in order to extend and upgrade water and wastewater systems, and to this amount over 2.2 billion euros are added, already allocated for 30 major projects already in progress, informs the National Reform Program PNR recently adopted by the Executive. According to the document, to protect water resources, and for the development of integrated systems of water supply, ...
Sterling Resources calls for force majeure on perimeters leased in the Black Sea
Thursday, May 5, 2011
Sterling Resources calls for force majeure on perimeters leased from the Romanian state in the Black Sea after it could not execute oil operations for reasons independent of its will, the company announced in a press release. Sterling claims that governmental authorities do not want to release authorizations for oil extracting activities in the offshore area. Therefore, Sterling sent a notification, considering that the lack of clarity on the procedures applicable and the competency to ...
Natural gas demand is estimated at 9.16 million MWh in May
Thursday, May 5, 2011
The total demand for natural gas in May is estimated at 9.161 million MWh, according to the substantiating report drawn up by Transgaz and sent to the National Energy Regulatory Authority.80.74 percent of this quantity of gas should be ensured from the domestic output and 19,26 percent from imports.The demand on the captive market is estimated at 2.15 million MWh, of which 1,114 million MWh for household consumers. The demand on the market of eligible consumers is planned ...
Romania to increase nuclear capacity at Cernavoda plant
Thursday, April 28, 2011
Romania has unveiled plans to install two reactors at its Cernavoda plant by 2020. Operated by atomic-power company Nuclearelectrica, the plant will see the addition of 4,600MW of nuclear capacity by 2035 to its existing output of 1,400MW. The capacity increase is in line with the nation's strategy to expand its nuclear power generation within the next 24 years, according to the Romanian economic ministry. The facility is expected to be complete by 2030 and the ...
Adama Technologies to divest 2.5-MW waste gasification project in Romania
Thursday, April 28, 2011
US clean technology firm Adama Technologies Corp said it would dispose of its 2.5 MW municipal waste gasification project in Bucharest, Romania. The company has signed a non-binding term sheet for the sale of the project's rights with an unnamed renewable energy projects developer. Adama said the two companies were negotiating over a price in the range of USD 15 million (EUR 10.3m), depending on an independent appraisal. The purchaser is required to complete due diligence on the project by ...
AFER: Electricity price, to double in next eight years
Thursday, April 28, 2011
The price of electricity will increase 40-60 euros per MWh in the next 7-8 years, which represents the double of the current rates, taking into account the implementation of the schemes of green certificates, of carbon dioxide emissions certificates and of the energy production in cogeneration bonus, Chairman of the Association of Electricity Suppliers of Romania (AFER), Ion Lungu told the 'Energy Focus' press conference on Tuesday.'The price of electricity will increase 40-60 MWh ...
Natural gas consumption exceeds 38 million MWh in first 2 months
Thursday, April 28, 2011
Romania's natural gas consumption totaled 38.482 million MWh in the first two months of 2011, up by 2.87% compared to the same period in the previous year, which amounted to 37.406 million MWh, according to the data centralized by the National Energy Regulatory Authority (ANRE). The domestic production of natural gas for consumption represented, in February 2011, 61.17% of total sources. The top two producers (Romgaz and Petrom) covered 97.61% of this source. Import for ...
Romanian power sector to keep on being coal-based (ministry official)
Thursday, April 21, 2011
The Romanian power production will keep on being coal-based, an advisor at the Ministry of Economy, Trade and Business Climate told the Open Doors Day of Turceni Power Plant (north-west of Bucharest) on Thursday.'The Romanian power sector will keep on being coal-based. It is true that the power-related costs will go up in the near future, if we want to observe the environmental requirements', Tudor Serban said.The authorities, therefore, say that the lignite-based power production ...
Laszlo Borbely: Environment Ministry has 905 water supply rehabilitation projects
Thursday, April 21, 2011
Romania's Environment and Forestry Minister Laszlo Borbely said, in Vaslui (east), on Thursday April 14, that the ministry he heads has 905 projects to get the water supply, sewerage and wastewater systems rehabilitated, 450 of them to be financed by the Environment Fund and the National Infrastructure Development Programme (PNDI), during this year.'We obviously do not enough money to fund all the 905 projects, so that the Government decided that about 250-300 of them, to be ...
Romanian Court Allows Rompetrol Rafinare Delisting, Appeal Pending
Thursday, April 21, 2011
The Bucharest Court of Appeals decided securities regulator CNVM should pay oil company Rompetrol 1 million lei (EUR1=RON4.0966) in moral damages after the blocked delisting of Rompetrol Rafinare (RRC.RO), according to a Rompetrol report issued Friday. Thus, the court cancelled the CNVM decision blocking Rompetrol Rafinare's delisting and decided the regulator should pay moral damages, but no material damages. Rompetrol had also requested material damages worth $50 million. The ...
Project setting up Electra and Hidroenergetica companies failed
Thursday, April 21, 2011
Economy ministry announced that it will start, this month, procedures to privatize management to a quarter of state owned companies, a press release of the ministry informs. The announcement comes shortly after unions of Hidroelectrica won the trial against the creation of the two energy giants, Electra and Hidroenergetica. The Bucharest Appelate Court ruled on April 14th against the government’s plans to set up the two giants. Economy minister Ion Ariton said that this is a ...
As much as 40pct of carbon dioxide produced in Romania comes from buildings
Thursday, April 21, 2011
Buildings are responsible for producing 40 percent of carbon dioxide emissions in Romania, announced on Tuesday Secretary of State for Regional Development and Tourism Eugen Curteanu, on the occasion of the conference on 'Green economic growth - a prerequisite for sustainable development'. The official said that new legislation is under way, which could be completed by July. Meanwhile, head of the European Representation Nicolae Idu estimated that, if it continues this ...
MOL signs Concession Agreements in Romania
Thursday, April 21, 2011
Hungarian oil and gas company MOL announced on Tuesday evening that it has signed Concession Agreements with the Romanian National Agency for Mineral Resources for three exploration blocks, MTI informs. As announced on July 5, 2010, EX-1 (Voivozi), EX-5 (Adea) and EX-6 (Curtici) were awarded at the 10th Licensing Round to the consortium of MOL and Expert Petroleum. MOL is the operator of the projects, with 70% participating interest in the blocks, while Expert Petroleum holds the remaining ...
Reuters: Romania to close half of its power plants by 2035
Thursday, April 21, 2011
Romania needs up to 40 billion euros of investment in new electricity generation, while it is forced to close a third of its outdated power capacity by 2020 and more than half by 2035, the economy ministry said. A draft of the ministry's energy strategy by 2035 released on Wednesday estimates the European Union state will need 30-40 billion euros ($43.2-$57.6 billion) to create new production capacity of some 14,800 megawatts to replace aging units. Successive government haves held back ...
President Aliyev: There is very good cooperation context on natural gas with Romania
Thursday, April 21, 2011
There is a very good context for the cooperation of our two countries on natural gas, Azerbaijan's President Ilham Aliyev said at the end of the official talks with visiting Romanian President Traian Basescu on Monday.'With respect to the energy sector, our cooperation is constantly developing. We supply Romania oil. Our state oil company is developing its activity in Romania and I believe there is a very good context for cooperation on natural gas. We have recently signed a ...