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Energy & Environment
PM Boc: Strategy in energy field should begin with sector restructuring
Thursday, June 4, 2009
The Romanian Government's strategy in the field of energy needs to begin with the restructuring of this sector of activity, taking into account how the energy companies in the EU member states are organized, Romanian prime Minister Emil Boc said at a debate last week.'Our opinion is that we will need to use an energy mix, to refer to the primary resource, at each of the production companies we are to create in order to secure electric power production in Romania. That's why we ...
Canadian company Sterling invested 130 million dollars in Midia and Pelican sea blocks
Thursday, June 4, 2009
Sterling Resources has invested 130 million dollars , as of 1992, in the Media and Pelican blocks in the Black Sea, without finding areas that can be capitalized on, general manager of Sterling Resources told the participants in a press conference on energy. There is much to be discovered in the unexplored areas of the Black Sea, and it is important that the authorities observe the closed contracts, recognize the property right and encourage the support for the maintenance of the national ...
Second nuclear power plant to use more efficient technology
Thursday, June 4, 2009
The second nuclear power plant to be built in Romania will not work on Candu technology, like the one in Cernavoda, in southeastern Romania, but on a more advanced, safer and more efficient technology, State Secretary with the Economy Ministry Tudor Serban said Thursday. The location of the new plant will be officially made public in September , but Economy Minister Adriean Videanu said it will be in center-west of Transylvania. 'The most important energy and gas companies are interested in ...
Several Investors Interested In 3rd, 4th Nukes JV
Thursday, June 4, 2009
Several companies are willing to invest in the company that will further build the 3rd and 4th nuclear reactors at Romania's sole nuclear power plant in Cernavoda, the secretary of state with the Economy Ministry Tudor Serban said ."There are investors who want to take part, besides the companies already involved, in the construction of nuclear reactors 3 and 4 at Cernavoda nuclear power plant, and they are willing to take similar stakes as the others," Serban said at the Mediafax Talks ...
Romania May Have First Liquefied Gas Terminal In 2 Yrs
Thursday, June 4, 2009
Romania’s first liquefied natural gas terminal might become functional in about two years, following an investment of a few hundred million euros, said Iulian Iancu, the president of the Chamber of Deputies’ Industry and Services Committee. The authorities are targeting Qatar as the terminal’s main gas supplier, Iancu said at the Mediafax Talks about Energy conference. The value of the investment will be influenced by several factors, as the project’s capacity, the way of developing the ...
THE WIND OF CHANGE - KPMG REPORT INTO M&A IN RENEWABLE ENERGY
Thursday, June 4, 2009
The KPMG report into M&A in renewable energy shows that government support is key driver as 63% expect growth in subsidies In the face of adversity, the global energy industry is feeling positive about the future of renewables. Indeed, 78 per cent of senior executives from across the industry believe renewable energy projects are economically viable despite collapsing fossil fuel and commodity prices and the credit crunch, KPMG’s annual report into M&A in renewable energy reveals. ...
Romania's greenhouse gas emissions down 1 pct in 2007 compared to 2006
Thursday, June 4, 2009
Greenhouse gas emissions in Romania fell by 1 percent in 2007 compared to 2006, shows a study conducted by the European Environment Agency. 'The recent decline in greenhouse gas emissions in the EU-15 gives us confidence that we will successfully achieve the targets of the Kyoto Protocol. With more than half of the EU-15 member states having registered notable reductions in emissions in 2007, our main concern now is that the December 2009 Climate Change Conference in Copenhagen reaches an ...
Fitch downgrades Rompetrol's rating to 'B'
Thursday, June 4, 2009
Fitch Ratings has downgraded The Rompetrol Group's long-term foreign currency issuer default rating to 'B' from 'B+' with negative outlook, due to weaker-than-expected funds from operations, insufficient to cover its full debt burden .“The funds from operations and EBITDA are expected to remain under pressure in 2009 and 2010 due to the cyclical downturn in the oil refining sector, which has been exacerbated by a sharp contraction in global demand for refined products”, reads Fitch ...
As many as 60,777 green certificates traded on OPCOM, January through May
Thursday, June 4, 2009
The number of green certificates traded in the first five months of 2009 on Romania's centralised market for green certificates stood at 60,776, almost 30 percent up from the first quarter of 2009, according to data posted on the website of the OPCOM green certificates market operator.The number of green certificates traded on the centralised market in the first five months of 2008 stood at 46,803.The total number of green certificates traded in 2008 reached 95,593.The statutes of ...
Natural gas consumption stands at 50.188m MWh in Q1
Thursday, June 4, 2009
Overall consumption of natural gas in Romania stood in the first three months of this year at 50.188 million MWh of which 17.578 million MWh in January, 16.707 million Mwh in February and 15.9 million MWh in March, according to figures carried on the web site of the National Energy Regulatory Authority. The internal natural gas consumption in March 2009, which enters consumption accounted for 83.17 percent of the overall resources. The first two producers (Romgaz and Petrom) covered 98.17 ...
Economy Ministry proposes revenues worth 75m lei for ANDRAD in 2009
Thursday, June 4, 2009
Non-fiscal revenues of the National Agency for Radioactive Active Waste (ANDRAD) might stand this year at 74.991 million lei (some 127.64 million euros), according to the budget of revenues and spending proposed by the Economy Ministry. ANDRAD was established with a view to sharing responsibilities and establishing financial sources designed for the support and achievement of activities on the management of spent nuclear fuel and radioactive waste, such as their ultimate storage, during the ...
Romgaz and Gazprom likely to develop gas storage capacity of 5-6 bln cubic meters
Thursday, June 4, 2009
Romgaz and Gazprom will develop jointly could be up to 5-6 billion cubic meters, stated on Monday Romanian Minister of Economy Adriean Videanu in a press conference. 'The storage capacity Romgaz and Gazprom will jointly develop could reach 5-6 billion cubic meters of natural gas. Roman Margineni (Romania's east) has a capacity in excess of 2 billion cubic meters. For Romgaz and Gazprom the storage in Roman Margineni is part of the potential cooperation between the two sides. The quantity of ...
Romanian Distrigaz Sud Changes Name Into GDF SUEZ Energy Romania
Thursday, June 4, 2009
Romanian gas provider Distrigaz Sud, owned by GDF SUEZ, will change its name into GDF SUEZ Energy Romania, the group said Monday. "We will continue to develop commercial operations, launching products more suitable to the needs of our clients," said the general manager with GDF SUEZ Energy Romania, Yvonnick David. GDF SUEZ equally operates in the sector of energy and environment services. Also, it is one of the seven investors to build the nuclear reactors 3 and 4 at Cernavoda nuclear ...
Petrom to trade electric power
Thursday, June 4, 2009
Petrom will trade electric power starting the end of 2009, oil company CEO Mariana Gheorghe announced on Wednesday. 'We want to be part of the electricity trading. We are building such a position this year and trading will begin at the end of this year', Gheorghe said at Brazi, where Petrom has a refinery. Petrom got a licence to supply electricity in this May and it also had licences for production and distribution.Gheorghe said Petrom would review its investment programme. 'We are going ...
Tudor Serban: Nabucco starts to lose ground even in Romania
Thursday, June 4, 2009
Romanian authorities are starting to lose their patience regarding the Nabucco project. "Romania cannot wait for longer if this project isn’t going to materialise. The country will definitely join discussion for another project, I can’t say which", secretary of state for the Economy Ministry Tudor Serban said. Even if he can’t name names, all the roads lead to the Russian South Stream, Nabucco’s main rival.Russian company Gazprom asked Romania for technical data necessary for the ...
Reuters: OMV confident on Romania participation in Nabucco
Thursday, June 4, 2009
Austria's OMV , the leading shareholder in the Nabucco gas pipeline, is confident Romania remains committed to the European union-backed project, its chief executive said on Wednesday. In Romania to launch the construction of a power plant by local refiner Petrom , OMV Chief Executive Wolfgang Ruttenstorfer also said he hoped an agreement on the 7.9-billion-euro project would be reached this summer, as expected. Romania said in May it would consider other projects if Nabucco talks did not ...
Unit 2 of nuclear power plant Cernavoda restarted after repairing works, following one month pause
Thursday, June 4, 2009
The state-run Nuclearelectrica supervising Romania’s sole nuclear power plant in Cernavoda announced reactor 2 of the plant was reconnected to the grid Wednesday after almost a one month shut-down for works. On May 8, Nuclearelectrica announced the reactor 2 of the power plant will pause for a month and go into technical revision. The first reactor at Cernavoda was also paused for a seven-day period for repairing works. Nuclearelectrica was set up in 1998 and controls the two units of the ...
Eastern states jostle to host EU energy agency
Thursday, June 4, 2009
Romania launched a campaign Tuesday (2 June) to host the future European agency for the cooperation of energy regulators (ACER), entering a competition with existing rival bids by Slovenia and Slovakia. Adrian Videanu, Romania's economy minister, officially launched his country's bid to host the European agency at a public event in Brussels. The agency's establishment is part of the European Commission's ambition to further liberalise EU energy markets and streamline cross-border cooperation ...
CEZ and AES Corporation want to build the 500 MW group in Isalnita
Thursday, May 28, 2009
CE Craiova received three offers for the new group of 500MW in Isalnita, among the bidders being CEZ in the Czech Republic and AES Corporation in the US, investment which could be over 500 million euro, the general manager of the unit Constantin Balasoiu said. « It is about three important companies, and the group CEZ in the Czech Republic, AES Corporation in the US and the third company which required confidentiality. They presented a letter of intent. In 30 days we analyse the bids, ...
State subsidies for the mining sector
Thursday, May 28, 2009
The Government endorsed on Wednesday a draft law regarding the subsidizing of the National Company of Mineral Coal in Petrosani and the Uranium Combine Works in Bucharest, the Romanian PM Emil Boc said, after the government meeting. 'The Government has adopted a draft law for the approval of the subsidies on goods and social protection to the companies, the national companies and the commercial companies in the mining sector in 2009. We are referring particularly to the approval of the ...