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Energy & Environment
Economy Ministry to receive special mandate for selling stakes in companies under its control
Thursday, August 5, 2010
Ministry of Economy, Trade and Business Environment is to receive a special mandate for the administration, investments drawing and share valuing of the economic operators under its authority, according to a Decision draft published on the institution's side.The special mandate contains the guidelines for operations of attracting investments, assets and participations sale, privatization, association under legal conditions of the economic operators in the aim to secure a coherent ...
Romanian Economy Minister Sacks Nuclearelectrica’s Board President
Thursday, August 5, 2010
Romanian Economy Minister Adriean Videanu on Wednesday dismissed the president of the managing board of nuclear power producer Nucleareclectrica, Gabriel Irimie Bacaintan. At the same time, Videanu appointed Alexandru Sandulescu as member of the board, the ministry said in a press release. The new managing board president will be appointed at a later date. Nuclearelectrica operates Romania's sole nuclear power plant in Cernavoda. ...
Petrom increases net profit 4.6 times in H1
Thursday, August 5, 2010
Oil Group Petrom ended the first half of the year in a net profit of 1.526 billion lei (around 360 million euros), i.e. 4.6 times higher on the same period in the prior year, according to figures supplied by the company.Petrom's sales went up by 14 percent in the six months of 2010 from Jan.-June 2009 to 8.343 billion lei (nearly 2 billion euros).'We continued to get very good results in the second quarter of 2010, in spite of the deteriorating demand on the market thanks to the financial ...
Gov't to sell shares owned in Petrom, Transgaz, Transelectrica and Romgaz
Thursday, August 5, 2010
The government on Wednesday decided to sell part of its shares owned in Petrom, Transgaz, Transelectrica and Romgaz companies, according to an announcement made by the Minister of Economy, Adriean Videanu.According to the Minister, the state would sell 9.84 percent of the Petrom shares, following to remain with a 10.8 percent stake, which means it will keep the 'status of significant shareholder' in the oil company controlled by the Austrian group OMV.Moreover, the state ...
Loss and arrears targets achieved at supervised corporations
Thursday, August 5, 2010
The targets concerning the diminishing of losses and business arrears at three national corporations operating under the authority of the Ministry of Economy, Commerce and Business Milieu - Termoelectrica, Elcen and the National Pit Coal Corporation (CNH) - have been achieved, Economy Minister Adriean Videanu told a news conference last Thursday.'The latest analysis indicates that as of June 30, the targets concerning the diminishing of losses and business arrears at three national ...
100 investors ready to test the wind
Thursday, July 29, 2010
In early July 104 companies interested in developing wind power projects already had contracts to join the grid, either with the national power grid company Transelectrica or with operators of electricity distribution networks. Their cumulated plans target 2,771 MW projects, i.e. nearly four Cernavoda nuclear reactors, with over 80% of the projects located in Dobrogea.According to Transelectrica data, four projects are to be connected to the high-voltage grid of the power transmission ...
How many of the 100 wind power projects will be completed?
Thursday, July 29, 2010
Over 100 wind power projects developed by around 80 companies had contracts to connect to the grid with Transelectrica or with operators of distribution networks in the areas where they are to be located. In all, the 104 projects have a capacity of over 2,771 MW, i.e. almost as much as four reactors of the nuclear power plant in Cernavod`, and would require over 4 billion euros in investments to become operational. The signing of the contract to join the grid is a major step in the approval ...
Wastewater rehabilitation project worth 140M euros in Dambovita
Thursday, July 29, 2010
Environment and Forestry Minister Laszlo Borbely, president of southern Dambovita County Council Florin Popescu and an official of SC Targoviste Dambovita SA Water Company, the Regional operator, on Tuesday signed the AM POS Environment - Enlargement and Rehabilitation of Water and Wastewater Infrastructure of Dambovita County, reads Environment and Forestry Ministry (MMP) release sent on Tuesday.The project is worth 140 million euros, without VAT, and its beneficiary is the ...
Rominserv-Prio Extractie cooperation project
Thursday, July 29, 2010
The Rominserv company, which is the general contractor of the Rompetrol group, struck a deal with the Prio Extractie company, a member of the Portuguese group Prio SGPS SA, to build four vegetable oil storage tanks, the project amounting to around 2.1 million dollars, reads a Rompetrol release.'It is an important partnership for Rominserv, in which we will be able to employ the know-how we acquired in similar projects completed for the two refineries of the Rompetrol group: ...
Reuters: Romania asks Areva to advise on nuclear plant site
Thursday, July 29, 2010
Romania has asked French state-owned energy group Areva (CEPFi.PA: Quote) to advise on the location of its second nuclear power plant, Economy Minister Adriean Videanu was quoted as saying on Thursday. Plans to build a second nuclear plant were announced in 2008, with work seen starting in the next decade, underlying the country's drive to push for more nuclear power capacity to replace outdated and costly coal-fired energy. The economy ministry was initially supposed to announce a location ...
Rompetrol Gas invests in a new LPG bottling terminal
Thursday, July 22, 2010
Rompetrol Gas, the liquefied petroleum gas trading division of Rompetrol Group, on Tuesday inaugurated in Bacau (eastern Romania), its third LPG bottling terminal in Romania, following an investment worth 11 million dollars. 'This investment is very important for Rompetrol Gas and for the whole group. In addition to this injection of 11 million dollars, we also intend to invest further in sales points for gas cylinders and also on the LPG and low bulk tank retail segment,' said ...
Cenavoda nuclear power plant delivers more than 5 million MWh in H1 2010
Thursday, July 22, 2010
The two operational units of the Cernavoda nuclear-power plant generated 5.519 million MWh worth of electricity in the first six months of 2010, more than 5.0874 million MWh of which were fed into the National Electricity Grid of Romania.Data with the Nuclearelectrica nuclear power authority indicate that unit 1 produced 2.545 million MWh and delivered 2.34 million MWh in H1, 2010, recording an average capacity factor of 83.7 percent, while unit 2 produced 2.973 million MWh and ...
KazMunayGas May Use Preemption Right Over Possible Romanian Stake In Rompetrol
Thursday, July 22, 2010
Kazakhstan’s KazMunayGas, owner of Rompetrol group, could buy back any shares Romania might take over in oil refinery Rompetrol Rafinare (RRC.RO) if the former is not able to fully repay its debt to the country, the head of Rompetrol said Tuesday."We haven't yet signed a final document regarding the debt. If the state takes over shares in Rompetrol Rafinare, then we can buy them back, because we have preemption rights," said Saduokhas Meraliyev, chief executive of Rompetrol.Late June, ...
Projects worth 22 mln lei submitted under Green House Program
Thursday, July 22, 2010
Over 3,600 individuals have submitted projects totaling nearly 22 million lei under the Green House Program so far, with the largest number of applications having been reported in the Bihor county (western Romania) - 541 files, Environment and Forestry Minister Laszlo Borbely told a press conference .'As many as 3,652 files worth 22 million lei have been submitted since July 1 for projects carried out under the Green House Program, for which there have been earmarked 110 million ...
ANRE: Gas consumption tops 72 million MWh in first five months
Thursday, July 22, 2010
The natural gas consumption in Romania totalled 72.037 million MWh in the first five months of this year, more by 11 percent than the one registered in the similar time span last year, which amounted to 64.932 million MWh, according to the data centralized by the National Agency for Energy Regulation (ANRE). The domestic natural gas production to be consumed accounted, in May, for 88.03 percent of all the sources. The first two producers (Romgaz and Petrom) covered 95.56 percent of ...
Bulgaria, Russia Sign South Stream Road Map
Thursday, July 22, 2010
Bulgaria and Russia have signed the so-called road map for the Russian gas line “South Stream” in Bulgaria, the Bulgarian news agency BTA reported Saturday. The document was signed in the Euxinograd State residence near Bulgaria's Black Sea capital of Varna by the Bulgarian Energy Minister, Traicho Traikov, and his Russian counterpart, Sergey Shmatko. Prime Minister, Boyko Borisov, had been present at the ceremony.The so-called “road map” was approved by the Bulgarian cabinet last week and ...
OPCOM trades 26,679 green certificates in July
Thursday, July 22, 2010
The green certificates traded on the Centralized Market of Green Certificates amounted to 26,679, in July, over 2.2 times higher than during the same time span, last year, when their numbered reached 11,972.Nineteen purchase and 14 sale biddings have been launched in July and the end price was 232.36 lei per certificate, read data posted on the Green Certificate Market Operator (OPCOM) web page.As many as 177,090 green certificates were sold during the first seven months of 2010.The ...
Romania Seeks Derogation From EC Greenhouse Gas Emission Regulations For 13 Penalized Companies
Thursday, July 22, 2010
Romanian authorities try to convince the European Commission to grant derogation from regulations regarding greenhouse gas emissions to 13 companies compelled to pay sanctions totaling EUR21 million after breaching the deadline by which greenhouse gas certificates should have been submitted. Romania's Economy Ministry, Environment Ministry and the Department for European Affairs presented during a Government meeting a memorandum to cancel the 13 companies' sanctions. Romanian authorities ...
Enel will build 140MW wind park in Tulcea county
Thursday, July 22, 2010
Enel power company from Italy will begin this year the construction of a wind park at Valea Nucarilor, Tulcea county, a project to be developed in two stages, each of 70 MW, Enel Green Power representative James Lee Stancampiano said. This year we will commission 40 MW of the wind park and another 30 MW next spring. However we estimate this summer we will get licenses for the other 70 MW of the project. The wind park at Valea Nucarilor will be completed next year, Stancampiano told ...
Economy Minister Adriean Videanu: Romania examines all projects aimed at securing its energy security
Thursday, July 22, 2010
Romania examines seriously all projects set to secure its and European Union's energy security, but Nabucco project remains its main priority, stated on Friday, July 16, Minister of Economy, Trade and Business Environment Adriean Videanu on the public radio station.'Nabucco project remains Romania's main priority, in which it holds a 16.6 percent stake through Transgaz, our gas transportation company', said Videanu.He pointed out that Romania had an extraordinary ...