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Energy & Environment
Electricity demand depends on the strategy of large consumers
Thursday, November 12, 2009
Electricity demand in Romania is expected to remain at 2009 level this year, but it will largely depend on the strategy of large electricity consumers, according to the National Energy Regulation Authority (ANRE). “In a prudent scenario, electricity consumption will remain at 2009 level this year. However, it is difficult to make predictions amid an economic downturn. It also to be noted that next year’s electricity demand will largely depend on the strategy of large power consumers, namely ...
Romania Should Stop Energy Privatizations - Econ Ministry Off
Thursday, November 12, 2009
Romania should halt the privatization of energy companies, Tudor Serban, state secretary within the Economy Ministry, said Wednesday. "Privatizations in the strategic sectors should be stopped indefinitely," Serban said. Companies as Transgaz (TGN.RO), Romgaz and Transelectrica (TEL.RO), as well as hydropower plants should not be sold, he said. All the major energy companies are owned by the Economy Ministry.However, power producer Termoelectrica may be sold to a private investor, Serban ...
Transelectrica reports 12 times lower profit
Thursday, November 5, 2009
State-owned electricity operator, Transelectrica (ticker: TEL) reported a net profit of 11.45 million lei (€2.7 million) for the nine months through September, 12 times lower than the same period of last year, as turnover fell by merely 10%, according to a release to Bucharest Stock Exchange. In the first nine months, the company reaped a profit of 132.9 million lei and recorded revenues of 2.01 billion lei.Turnover fell 11% to 1.79 billion lei (€0.4 billion) in the period under review, ...
Petrom investment of 90 mln euros in gas processing unit
Thursday, November 5, 2009
Petrom has inaugurated a new gas processing plant at Midia oil terminal (south-east, at the Black Sea) into which it has invested 90 million euros, according to information remitted to Bucharest Stock Exchange (BVB).The unit has a daily gas processing capacity of 3.8 million cubic meters, twice as much as the old installation.According to Petrom, the new Midia plant has an efficiency of 99 percent as for the recovering of heavy compounds from the natural gas, resulting ...
USA To Use Romania And Bulgaria Bases To Control Caspian Sea Oil
Thursday, November 5, 2009
The United States wish to have control over oil resources in the Caspian Sea and will accomplish this from their bases in Romania and Bulgaria by fueling instability in the Caucasus, the Center for Research on Globalization (CRG) said in an analysis published online.CRG's analysts said the US may send its peacekeeping forces to provide security for the transport of Caspian oil and gas and American troops in Romania and Bulgaria could be very useful."During a recent visit to Romania ...
Economy Minister official: Romanian energy company needs lobby in Brussels
Thursday, November 5, 2009
Romanian state officials believe Romania needs to lobby with the European Commission for state-granted aid to the companies carrying out wide-ranging energy projects, valued at 15-20 billion euros, that do not have the financial means to support the entire investment, state secretary with the Economy Ministry Tudor Serban told a conference on the building project of units 3 and 4 of the Cernavoda nuclear-power plant.'Romania should lobby with the European Commission for the ...
Romania To Face Difficulties In Funding Energy Projects
Thursday, November 5, 2009
Romania will have significant difficulties in financing its energy projects as companies can no longer rely on government support, which is seen as state aid by the European Commission, Economy Ministry state secretary Tudor Serban said Friday. "Romania has big financial problems and can't support all the projects. It will be impossible to accomplish them with state support. (…) It will be hard to find solutions," Serban said at a debate on nuclear energy issues. Serban said the country has ...
Demand for natural gas appraised at 16.330m MWh in November
Thursday, November 5, 2009
Overall demand for natural gas in November is appraised at over 16.33 million MWh and it should be ensured 85.8 percent from the domestic production and 14.2 percent from import, according to the report drawn up by Transgaz and sent to the National Electricity Regulation Authority.The demand from the captive market is appraised at 5.611 million MWh, of which 2.899 million MWh for home users. Demand from the market of eligible consumers is appraised at 9.303 million MWh. The ...
Petrom plans investments in renewable energy
Thursday, November 5, 2009
Oil company Petrom will invest in renewable energy projects, in geothermal and wind solutions, Petrom head of corporate public affairs Razvan Nicolescu on Monday told the Energy Forum in Center and Eastern Europe. 'We are considering several renewable energy projects to harness wind and geothermal power. We will invest in renewable energy resources,' said Nicolescu. The Petrom representative mentioned that Romania needs a consistent strategy in the sector of renewable energy, ...
Romgaz reports 5% decline in nine-month profit
Thursday, November 5, 2009
Romanian natural gas company Romgaz said its nine-month revenues fell 6.3% to 2.23 billion lei, and profit down 5% from year-ago period. In the first nine-months last year, the natural gas supplier reported net profit of 442 million lei and revenues of 2.38 bln lei. “Our performance to date compared to a year ago reflects the reduction of natural gas demand”, the company said. Overdue accounts totaled 67.9 million lei at the end of September from 110.9 million lei reported in 2008. “The ...
WIEE Romania: Solutions to crisis don’t compensate the sluggish natural gas demand
Thursday, November 5, 2009
The natural gas trading company WIEE Romania, a joint venture between Russian-based Gazprom and Wintershall with revenues of nearly €400 million in Romania, expects the natural gas demand to weaken further, which would weighs on the imported natural gas business. The general demand was very weak in the first half of 2009, due to the ongoing economic crisis. In 2009 the quantities will drop compared to the previous year. The reduction in gas consumption in Romania was transferred almost ...
Investments worth almost 26.8 million euros in solid waste management
Thursday, November 5, 2009
The Environment Ministry has recently signed an agreement worth almost 26.8 million euros, without VAT, to develop a solid waste integrated management system in the southern Giurgiu County, interim Minister of Environment Elena Udrea on Tuesday told a press conference.'The Environment Ministry has signed today an agreement worth 26,759,852 euros, without VAT, with the Giurgiu County Council, with the money to be injected in a solid waste integrated management system. This is the ...
Romania should not discard natural gas imports
Thursday, November 5, 2009
Romania should not discard gas imports from Russia, because diversifying domestic and foreign natural gas sources is sounder in the long term, Petrom CEO Mariana Gheorghe told an Energy in Central and Eastern Europe Forum on Tuesday in Bucharest.'Romania should not discard natural gas imports. The demand has dwindled and has been 90 percent covered by domestic production. Diversifying local and import sources is sounder in the long run. I do not recommend fully covering demand from domestic ...
As many as 9,668 green certificates traded on Centralized Green Certificate Market in October
Thursday, October 29, 2009
The number of green certificates traded in October on the Centralized Green Certificate Market (PCCV) amounted to 9,668 units being 2.3 times lower than the previous month, where there were traded 22,578 green certificates.The closing price was of 215.34 leicertificate, according to the information carried on the web site of the Energy Marker Operator - OPCOM. In October 21 buying offers were released and 12 selling offers. Compared to October 2008, the number of green ...
CEZ Group acquires PF stake in CEZ Services
Thursday, October 29, 2009
CEZ Group acquired the 12 percent stake 'Proprietatea' Fund (PF) was holding in CEZ Services for 1.6 million euros, informs a company release. Following this deal, CEZ Group controls 63 percent of CEZ Services. The recent deals with Proprietatea Fund and Electrica, plus its strengthened position with CEZ Services are all major accomplishments for CEZ, that pave the way for more synergy opportunities inside CEZ Group in Romania, said Jan Veskrna, CEZ Romania Country Manager. In ...
Nuclear Electrica to double its electricity production in coming years
Thursday, October 29, 2009
Nuclear Electrica National Company will double its production of electricity, in the coming years, by the building of units 3 and 4 of the nuclear-electrical plant at Cernavoda, south-east, said, on Thursday, Oct 22, Andrei Goicea, manager of the Department of Technical Support of Nuclear Electrica Co at the Emerging Europe Energy Summit in Prague.'By the building of units 3 and 4, but also in consequence of the raise in the consumption of electricity in Romania, the production at ...
Price of electricity should increase by up to 3.5 euros
Thursday, October 29, 2009
The price paid by the final consumer for electricity should go up by 2 up to 3.5 eurosMWh, in 2010, if the annual quota of green certificates is reached, said, on Thursday, at a conference on renewable energy in Romania, general manager at the Ministry of Economy Alexandru Sandulescu. 'According to the strategy for the renewable energy in Romania, the price paid by the final consumer for the electricity will go up by 2-3.5 euros, in 2010, if the quotas of green certificates by the ...
625 mln cubic meters of natural gas, in E.ON Gaz Romania storage
Thursday, October 29, 2009
E.ON Gaz Romania finalized the storage of natural gas needed for the cold season, in volume of approximately 625 million cubic meters this year, the company informs in a release.According to E.ON Gaz Romania, the investment value in the gas storage is up to some 460 million lei, representing 'a huge investment of our company in order to meet its clients requirements and expectations on securing the needed natural gas quantities for the house heating during the winter ...
Romanian Power Holdings Setup Started In February
Thursday, October 29, 2009
The setting up of Romania's power holdings started in February, following talks with the interested parties, according to an Economy Minister response to statement of the social democrat deputy Iulian Iancu, who said the decision is too important to be made by an ousted government. The reorganization of the energy sector by setting up the two power holdings is a process that actually started in February 2009 and not a project we are just approaching. During several months, talks were held ...
LukOil Romania’s profit tumbles on halved oil prices
Thursday, October 29, 2009
LukOil Romania, the subsidiary of Russian-based oil company reported total loss of $22 million, following 100% decline in oil prices and unfavorable exchange rates. Total sales reported for January-September stood at $932 million, twice below year-ago level.For the nine months through September last year, LukOil Romania reported revenues of $1.7 billion, spurred by the advance of oil price to $150 in June, only to crash to $30 and recoup to $80 to where it stands today.“The global ...