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Energy & Environment
Rompetrol Group prepares takeover offer for shares held in Rompetrol Rafinare and Rompetrol Well Services
Thursday, September 3, 2009
The Rompetrol Group has started to prepare the necessary documentation to launch a compulsory public offer to take over shares in Rompetrol Rafinare and Rompetrol Well Services which it does not yet hold. But the group demanded the Romanian National Securities Commission to extend the deadline to submit the documentation to October 30, a press release of the Romanian Stock Exchange reads.The National Securities Commission adopted on June 22 an instruction according to which any shareholder ...
About 300M euros invested in Electrocentrale Deva
Thursday, September 3, 2009
Electrocentrale power station based in Deva (northwest of Bucharest) plans investments worth 295.57 million euros, in the coming three years, Economy Ministry data say. For re-equipping Unit 4, the Company will invest 98.1 million euros and works will take 34 months, starting in the second quarter of 2009. As much as 67.9 million euros of the total investment represents banking loans and 8.7 million euros is own money. The equipment costs 21.5 million euros. Once the project completed ...
Electricity and gas consumption in Romania unlikely to reduce by more than 10%
Thursday, September 3, 2009
The electricity consumption in Romania will not lower by more than 10 percent at year-end and the gas consumption by more than 20 percent compared to 2008, the head of the power market regulator (ANRE) Petru Lificiu said. Prices for natural gas and electricity could remain still, although they should have increased following operators' request, said Lificiu, who added ANRE found some solutions to keep the electricity and gas prices at the current level, NewsIn informs. The official also ...
Basescu requires support of diplomacy in contracting gas for Nabucco
Thursday, September 3, 2009
The Nabucco project is a substantial foreign policy achievement of Romania, said, on Wednesday, president Traian Basescu, who stressed nevertheless that the support of diplomacy is necessary in order to create the necessary environment in which the companies can contract the necessary gas quantity.'The Nabucco project is one of the substantial foreign policy achievements of Romania, that has been the only state which, at a certain moment did not vacillate, remaining faithful to the ...
Gazprom spokesman says company is primarily studying Turkey route for South Stream - a route which avoids Romania
Thursday, September 3, 2009
"The [South Stream] pipeline will either cross the exclusive economic zone of Russia, Ukraine, Romania and Bulgaria, or Russia, Turkey and Bulgaria. But prior and large-scale research must be done before one of them is chosen. Since the recent verbal agreements with Turkey, we have been studying primarily the possibility of laying this gas pipeline through the Turkish economic zone of the Black Sea", Gazprom official spokesman Sergei Kupriyanov said in an interview with ...
Carbon capture and storage technology - Answers to the inconvenient questions about Romania’s energy supply and high level of emissions
Thursday, September 3, 2009
More than 40% of the electricity coming from lignite burning – the dirtiest of all fuels – and with an expected growth of GHG emissions in the next period, due to the country’s perspective economic development, Romania must take into consideration the opportunity presented by the carbon capture and storage technology, having in sight the current need of energy, as well as the obligation to respect the European legislation.„In order for the European Union to select a CCS project in ...
Romania's oil output ranks 11th in Europe and Eurasia, in 2008
Thursday, August 27, 2009
Romania ranks 11th among the top oil producers in Europe and Eurasia, putting out 99,000 barrels of oil a day, in 2008, which represents 0.1 percent of the world's production, British Petroleum data read. Romania's oil consumption grew by 2.2 percent, namely 227,000 barrels a day (0.3 percent of the world consumption) in 2008, compared to the previous year.According to the BP statistics, Romania's proved crude reserves amount to 500 million barrels, less than half the 1.2 ...
Uztel's profit almost six times lower, in H1
Thursday, August 27, 2009
Crude oil drilling equipment maker Uztel based in Ploiesti (60 km north of Bucharest) earned 728,483 lei in net profit (1 euro= 4.21 lei), in the first half of the year, by 5.8 times smaller than during the same time span in 2008, read data the Company sent to the Bucharest Stock Exchange (BVB).Uztel's turnover dropped by 32.6 percent up to 39.84 million lei and the revenues dwindled by 27.47 percent amounting to 74.534 million lei, while its expenditure stood at 73.485 million ...
Videanu: We have enough energy stocks for this winter
Thursday, August 27, 2009
All necessary energy and natural gas stocks for this winter are secured, Economy Minister Adrian Videanu said Friday in Petrosanui, in southern Romania.'All energy stocks for this winter - natural gas, black oil and coal - are secured. I can also tell you that the gas stocks will reach the maximum level allowed by the storage facilities we have around September 8th' Videanu said.'We have extra stocks of brown coal and are trying to find other storage facilities except for ...
CNH should not be a millstone round future national energy company's neck
Thursday, August 27, 2009
The National Pitcoal Company (CNH) will have to contribute to the development of the future national energy company that will incorporate it, Minister of Economy Adriean Videanu declared on Friday in Petrosani (country south) at the end of a meeting held with the CNH management and trade unions. ''We do not want CNH to be a millstone round the neck of the future national energy company. We will have to think of a restructuring process so that CNH be able to contribute to the ...
Videanu: Romania has stored 2.6 bln cubic meters of gas
Thursday, August 27, 2009
Economy Minister Adriean Videanu has announced in Pitesti (100 km northwest of Bucharest) on Sunday that Romania has stored 2.6 billion cubic meters of gas, with the stored quantity to go up to 3 billion cubic meters by the start of winter.'Now Romania has nearly 2.6 billion cubic meters of gas stored. This compares to 2.8 billion cubic meters we had last year. By September 10 we are going to have roughly 3 billion cubic meters, which is the maximum gas storage capacity for the ...
Prime minister discusses waste management issues with environment minister
Thursday, August 27, 2009
Prime Minister Emil Boc asked Environment Minister Nicolae Nemirschi on Monday to present the government by mid-Sept. the legal solutions for closing the non-environmentally friendly landfills as scheduled so that Romania should meet the pledges made to the European Union.The prime minister made the request during a meeting at Victoria Palace (the govt's offices) with Nemirschi and general commissioner of the National Environmental Guard, Silvian Ionescu in which they discussed the ...
Romanian Govt Plans To Lay Off Over 2,000 Employees In Energy Field In '09
Thursday, August 27, 2009
The Romanian Government decided to lay off over 2,000 employees in the energy companies under the subordination of the Economy Ministry in 2009, who will further receive severance pays.Thus, the list with layoffs recently approved by the Government includes: Romania’s state-owned brown coal mining company – Societatea Nationala a Lignitului Oltenia, SNLO, with 600 employees, Autonomous Regie for Nuclear Operations, , with 306 employees, Termoelectrica, with 200 persons, Turceni Power ...
Aurelian Oil & Gas spuds Voitinel-1 exploration well in Romania
Thursday, August 27, 2009
Eastern European focused junior Aurelian Oil & Gas plc (AIM: AUL) today said the drilling of the Voitinel-1 exploration well in the Brodina Concession in Romania started last Friday, marking its first effort to test the Carpathian sub-thrust play.The Voitinel-1 well is a part of the Voitinel project in the exploration area of the Brodina Block EIII, where Aurelian, which is also the operator, holds a 33.75% interest. The company focused on maturing the Voitinel prospect to ...
GED invests six million euros in energy sector in Romania
Thursday, August 27, 2009
Spanish private equity GED has bought 60 percent of Total Eurobusiness Co, active on the segment of projects of energy co-generation, by an increase of capital worth 6 million euros, with the total investment of the company being forecasted to reach 12 million euros in the coming years.Co-generation is the combined production of electric energy and thermal energy, with the main advantages being the energy efficiency and fuel saving.The energy sector has a high development ...
Rompetrol Well’s half-year profit sinks 36%
Thursday, August 20, 2009
Rompetrol Well Services (BSE: PTR), the oil services division of Rompetrof, reported a half-year profit of 7.99 mn lei (1.89 mn euros), down 38% from a year earlier on lower revenues, according to a statement remitted to Bucharest bourse.In first six months last year, the company booked a profit of 12.92 million lei.Rompetrol ‘s sales fell 26.7% in first six months to 34.62 million lei (8.2 mn euros) while revenues dropped 23.3% to 37.1 million lei (8.8 million euros).The company ...
Romania Oil and Gas Report Q3 2009
Thursday, August 20, 2009
The latest Romania Oil & Gas Report from the author's forecasts that the country will account for 4.42% of Central and Eastern European (CEE) regional oil demand by 2013, while providing just 0.56% of supply. CEE regional oil use of 4.65mn barrels per day (bd) in 2001 rose to an estimated 5.39mn bd in 2008. It should average 5.33mn bd in 2009 and then rise to around 5.85mn bd by 2013. Regional oil production was 8.83mn bd in 2001, and in 2008 averaged an estimated 12.93mn bd. It is set to ...
Transgaz seeks Foreign Ministry's support for energy projects promotion
Thursday, August 20, 2009
Foreign Minister Cristian Diaconescu met on Tuesday with Transgaz director general Ioan Rusu and with representatives of the Ministry of Economy to discuss the crafting and support of the law ratifying the Agreement on the Nabucco project signed on July 13 in Ankara, informs the Foreign Ministry. The meeting at the Foreign Ministry's headquarters was also aimed at informing about the progress of the energy projects Transgaz is involved in, with impact on Romania's energy security, ...
Romanian Economy minister: Romania does not exclude South Stream, but it hasn't been invited yet
Thursday, August 20, 2009
Romania is open to other energetic projects than Nabucco, Romanian Economy minister declared on Tuesday for RFI. According to Adriean Videanu, Romania does not exclude taking part in the Russian-Italian competitor project South Stream, but so far it has not been officially invited to join it. According to him, priority zero for Romania at the moment is the Nabucco project and here is why. Nabucco is the project that solves two of Romania's big problems regarding energetic security, ...
Romania's natural gas reserve - 0.3 percent of the global reserve in 2008
Thursday, August 20, 2009
Romania's total proved natural gas reserve stood at 630 billion cubic metres in end-2008, that is 0.3 percent of the global reserve, according to data centralized by British Petroleum. In end-2008, Romania's proved reserve of natural gas were estimated at 360 billion cubic metres.Romania ranks thus 9th in Europe and Eurasia, after Russia, ranking 1st, with 43.30 trillion cubic metres, Norway, 2.91 trillion cubic metres and Kazakhstan, 1.82 trillion cubic metres.British ...