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Energy & Environment
UK ambassador Barnett: CO2 emission storage and capture can create new jobs
Thursday, September 17, 2009
Investing in renewable energies, boosting research on green technologies and the sustained efforts on the storage and capture of the CO2 emissions can create new jobs, they represent the key solutions for implementing a strategy for a clean environment, UK Ambassador to Romania Robin Barnett told an international conference on environment hosted by Bucharest on last Thursday.There is need to focus on investing in renewable energies and on boosting the research on green ...
Romania’s Upetrom Plans To Sell Oil Drilling Installation To Iraq
Thursday, September 17, 2009
Romanian oilfield equipment manufacturer Upetrom 1 Mai Ploiesti (UPEX.RO), member of the Upetrom group, plans to sell a drilling installation to Iraq, the group’s spokesperson Radu Petrescu told MEDIAFAX on Thursday. The Iraqi authorities organized a bid to buy the drilling equipment in July. In the bid, Upetrom competes with several companies from the US, Germany, Italy and China. "The evaluation of the offers takes around two to three months, so that the result is expected at ...
Environmental problems drew 667 million lei worth of European funds
Thursday, September 17, 2009
The Sectorial operational program (POS) for Environment absorbed the highest level of structural funds in the past month and the total amount paid to program beneficiaries stood at 667 million lei, the Environment Ministry announced.According to the latest official data supplied by the Coordinating Authority of Structural Instruments, on August 31, 2009, POS Environment registered an absorption level of 12.47%.The total amount paid to this program's beneficiaries, accounts for 40% ...
Gabriel Reports Significant Progress in Public Recognition of its Rosia Montana Project at the Denver Gold Show
Thursday, September 17, 2009
Speaking Monday, Septmeber 14, at the 2009 Denver Gold Show, Mr. Keith R. Hulley, Gabriel's Chief Executive Officer, reported that the Company has been very encouraged by the tangible improvement in the profile and public recognition of its 80%-owned Rosia Montana Project as a potential significant contributor to the national economy of Romania.With the conviction that developing the Rosia Montana Project is very much in the national interest of Romania, in 2009, the Company ...
Petrom started production on Delta 6 and Lebada Vest offshore wells
Thursday, September 17, 2009
Petrom, the largest oil and gas producer in South Eastern Europe, said it started the production from the recently drilled offshore wells Delta 6 and Lebada Vest the maximum potential being 4,500 boed by the end of the year. Both fields, Delta and Lebada Vest, are located in the offshore block Histria XVIII in the Black Sea. “This recent production start-up on Delta field in the second half of this year is a great achievement, taking into consideration the technical difficulties we have ...
Investments of 5.8 bln euros in main electricity companies
Thursday, September 17, 2009
Investments in the electricity field implemented by companies coordinated by the Ministry of Economy (ME) will total 5.823 billion euros in the upcoming years, according to ME published information.Termoelectrica Co. investments are up to 140 million euros and represent allocated funds in seven projects.Electrocentrale Deva (west) Co. is to implement investments of 295 million euros, of which 22.64 million euros own funds. Electrocentrale Deva is to implement three investment ...
Romania Wants To Exploit, Buy Uranium From Kazakhstan
Thursday, September 17, 2009
Romania proposed Kazakhstan to exploit, through the National Uranium Company, the Asian state's reserves and to buy through long-term contracts the uranium needed for the operation of the future two nuclear reactors, Economy Ministry state secretary Tudor Serban said Tuesday."Both proposals met with positive reactions. Talks will continue," Serban told Mediafax.Serban added the uranium to be bought from Kazakhstan will be enriched in Romania and used for electricity production in ...
Romania says in advanced talks over Nabucco supplies
Thursday, September 17, 2009
Romania is in advanced talks with Asian states to secure supplies for a planned natural gas pipeline designed to reduce Europe's energy dependence on Russia by transporting gas from the Caspian and Middle East from 2014. "We are in advanced talks with Azerbaijan, Turkmenistan and Kazakhstan ... to import gas for the Nabucco pipeline," Deputy Economy Minister Tudor Serban told an energy seminar. He would not elaborate. Nabucco's shareholders are Hungary's MOL MOLB.BU, Romania's Transgaz ...
Contracts worth 450 million euros for Electrocentrale Bucharest
Thursday, September 17, 2009
Electrocentrale Bucharest, ELCEN, producer of electricity and thermal energy, has signed a memorandum of understanding for the achievement of two new groups at Progresul Bucharest and Fantanele Mures, center of Romania, with the value of the contracts amounting to 450 million euros, said, on Wednesday, general manager of the company Ion Marcu.We signed on Tuesday a memorandum of understanding with two international consortia for the achievement of a new group at Progresul Bucharest and for ...
As many as 15-20 percent of new energy companies' shares might be listed with Stock Exchange
Thursday, September 17, 2009
The Romanian authorities are taking into account the variant of the listing with the stock exchange of 15-20 percent of the two companies which are to be established in the energy sector, said on Wednesday State Secretary with the Economy Ministry, Tudor Serban, at a news conference on energy issues. 'We'll discuss about the possibility to list some 15-20 percent of the new companies on the stock exchange, this is an older variant we'll discuss about,' said Tudor Serban. State ...
Romanian Govt Plans To Write Off RON536.4M Debts Of Thermal Power Plants
Thursday, September 17, 2009
The Romanian Government plans to write off debts accumulated by thermal power plants by June 30, 2009, totaling 536.4 million lei (EUR1= RON4.2673), including the fiscal obligations not paid for foreign loans taken with state guarantee, in order to ensure heat supply through the winter.Some of the thermal power plants with major debts to be written off are CET Bacau, with RON45.5 million, Electrocentrale Oradea, with RON32.3 million, Termica Botosani, with RON89.2 million, and CET Brasov ...
Rafo paid over EUR200 million in debts to the state budget
Thursday, September 17, 2009
Romanian President Traian Basescu said Wednesday, during a meeting with the management of oil refinery Rafo Onesti, that he is happy to see that Rafo paid over EUR200 million in debts to the state budget. and that investments in upgrade works continue even in times of economic crisis.Basescu stressed the company's new management adopted a fair approach and managed to pay Rafo's debts to the state budget. In turn, Rafo general manager, Iacov Goldovskiy, told Basescu that investments in the ...
Romania’s Two Power Holdings Deemed Operational In ‘10, Work In Vain Till ‘12
Thursday, September 17, 2009
The two national power holdings the Romanian Government aims to set up through the reorganization of the country’s energy production will become operational in 2010, but they may operate to no avail until 2012, Economy Ministry’s secretary of state Tudor Serban said Wednesday. "The two companies will be operational on January 1, 2010, but they may operate to no avail until 2012," Serban said during an energy seminar.The government's plan to reorganize Romania's energy sector entails the ...
Czech CEZ picks GE for Romanian wind project
Thursday, September 10, 2009
Czech power group CEZ said on Monday it signed a contract with General Electric to supply wind turbines for its 600 megawatt, 1.1 billion euro ($1.6 billion) project in Romania -- the largest of its kind in Europe.The planned two-stage wind farm will be around twice the size of the next biggest onshore wind farm in Europe and marks one of the largest recent foreign investments in European Union newcomer Romania.Just over half the wind park is expected to come on line in 2010 and the rest a ...
Romania To Ink Regional Energy Market Pact With Hungary, Austria Soon
Thursday, September 10, 2009
Romania is close to sealing an agreement with Hungary and Austria to set up a regional energy market and holds talks with Greece and Bulgaria on the issue, Economy Minister Adriean Videanu said Tuesday. "We are very close to signing with Hungary and Austria the agreement to set up a regional energy market," Videanu said during a conference on the restructuring of the energy sector.In July, Videanu said the agreement might be sealed early-September.Setting up a regional energy market is ...
Romanians Might Pay Duty On Carbon Dioxide Emissions
Thursday, September 10, 2009
Romanians might be compelled to pay a tax on carbon dioxide emissions, and the collected amounts would be further invested in carbon storage units, but the issue won't be approached in the near future, Romanian Economy Ministry secretary of state Tudor Serban said Tuesday."There will come a time when we should consider storing carbon, through the construction of storage units that are expensive, at around EUR1 billion per unit, and we would have to ensure financing sources," Serban said ...
Romanian state to decide in 2010 over its shares in Energonuclear
Thursday, September 10, 2009
The Romanian state will take a decision in 2010 on whether to keep its 51% stake in the Energonuclear company or slash it, Economy Minister Adriean Videanu said at a press conference on energy issues organized by Focus Energetic.'I have not yet discussed with Energonuclear about reducing the Romanian state's shares. We will take a decision in this respect in 2010, when will know if we have the necessary resources to maintain our stake or not. The Romanian state will either assume ...
Economy minister: Competition among hydro sector, thermal and nuclear one, counterproductive
Thursday, September 10, 2009
The competition in the Romanian market among sectors such as that of the production of hydro-energy, thermal and nuclear one affects performance, and the sector becomes vulnerable without investment.'We cannot afford to be competitive in the market, if now there is competition among the hydro-production, the thermal and the nuclear one. Production is flexible in Europe. Domestically, of the 21 scenarios of restructuring the energy production, we have chosen the variant of the ...
National energy sector, marred by unsuccessful privatizations and big losses
Thursday, September 10, 2009
The National energy sector is marred by outdated technologies, big losses, failed privatizations, weak competition, stated on Tuesday Energy Regulatory Authority ANRE President Petru Lificiu.'The energy system is obsolete, with big losses, failed privatizations, weak competition, abuse of non-transparent contracts. It is a sick system', underlined Petru Lificiu.ANRE President stressed that privatization did not start where it should have been. 'There were privatization attempts not ...
ANRE plans to keep natural gas price steady
Thursday, September 10, 2009
Energy Regulatory Authority ANRE plans to keep the natural gas price steady this winter, announced on Tuesday ANRE President Petru Lificiu, on the occasion of the Focus on Energy conference.'ANRE strategy is to keep the price for natural gas steady this winter. We do not want to increase the prices because we need stability. There is demand for boosting the price, we need investments, but for the time being we seek stability', said Lificiu.As for Romania's resources, aimed at avoiding a ...