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Energy & Environment
Gas prices to drop 3pc as from May 1
Thursday, April 9, 2009
Gas prices will drop 3pc as from May 1, Prime Minister Emil Boc informed at the weekend.'Gas prices will drop 3 percent as from May 1. Chairman of the National Energy Regulatory Agency (ANRE) Petre Lificiu confirmed this to me on the phone,' Boc told a television channel. ANRE asked natural gas distribution and supply companies on April 3 to identify solutions for Romanian consumers to benefit from falling natural gas prices without the measure affecting supply security or services ...
New strategy of energy system entails establishment of two national companies
Thursday, April 2, 2009
The new reorganization strategy of the production sector in the energy field entails the establishment of two national energy companies, state secretary with the Ministry of Economy Tudor Serban told Agerpres. 'At national level, two instead of three national companies are to be established. At present we are working on the new reorganization strategy of the production sector in the energy field. It will be finalized at the end of April,' said Tudor Serban. Minister of Economy Adriean ...
Diaconescu: Romania and Austria firmly promote Nabucco project
Thursday, April 2, 2009
Romania's Minister of Foreign Affairs Cristian Diaconescu and Austrian Federal Minister for European and International Affairs Michael Spindelegger on Wednesday reiterated Romania's and Austria's support to the achievement of the Nabucco project.'Both Romania and Austria are firm promoters of the achievement of the Nabucco project and we will cooperate in boosting the process of signing the intergovernmental accord as an essential political decision on the project's promotion,' ...
NZOG teams up with AuDAX for Romania bid
Thursday, April 2, 2009
New Zealand Oil & Gas has joined an Australian operation bidding for exploration contracts in Romania. AuDAX Resources, listed on the Australian stock exchange, announced on Tuesday that NZOG had joined its area of mutual interest (AMI) for Romania, replacing Kairiki Energy.NZOG had a 33.33% share of the AMI.The eastern European connection was not unusual as NZOG chief executive David Salisbury was previously with Austrian company OMV, which holds a majority stake in Petrom, Romania's ...
IEA chief calls for ‘clean energy new deal’
Thursday, April 2, 2009
Nobuo Tanaka, executive director of the International Energy Agency (IEA), urged world governments to ensure that stimulus packages aimed at restoring growth also embrace low-carbon technologies. He spoke to EurActiv in an exclusive interview ahead of the European Business Summit, which opens Thursday (26 March) in Brussels. As the financial crisis dries up funding for energy projects, Tanaka called on governments across the world not to overlook the energy and climate crisis when devising ...
Transelectrica posts 2008 net consolidated profit at 50 million lei
Thursday, April 2, 2009
The company Transelectrica reached up to a net consolidated profit worth 50 million lei, that is a growth by 27-percent on the previous year's profit, which stood at 39.342 million lei, and a drop by 0.7 percent compared with the net profit of 50.346 million lei posted in 2007, according to a report released by the company for analysts and investors.The net profit per share stood at 0.57 lei, compared with 0.71 lei a year before. The company's consolidated turnover stood slightly below the ...
Rompoetrol Rafinare to extend an 110mln dollar syndicated credit facility
Thursday, April 2, 2009
The board of Rompetrol Rafinare (RRC) is requesting to its stockholders to extend a 110mln-dollar syndicated credit facility as a back up for the acquisition of raw materials, according to the invitation remitted to Bucharest Stock Exchange.The bookrunners of this transaction are Unicredit Tiriac Bank, Unicredit Bank Austria AG and Banca Comerciala Romana and is meant to back up the acquisition of crude oil, mazut and condensed gas. The shareholders of Rompetrol were summoned to the general ...
Reuters:Romania's Oltchim to invest 500 mln euros by 2012
Thursday, April 2, 2009
Romanian state-owned chemical plant Oltchim OLTC.BX will invest roughly 500 million euros ($670 million) by 2012, mainly on acquisitions, upgrades and boosting production, the economy ministry said on Friday.The company, which plans to borrow the cash, has asked the government to guarantee 80 percent of the loans. European Union state Romania will wait for EU approval before issuing guarantees, the ministry said.Oltchim had long-term debt of 637 million lei ($201 million) at the end of ...
Over 54,000 green certificates traded on energy market in Q1
Thursday, April 2, 2009
The number of the green certificates traded on the Centralised Green Certificate Market in the first quarter of this year totalled 54,013, up 87.8 percent on the same period a year ago, show figures made public by the Energy Market Operator OPCOM on its Web site.As many as 28,761 green certificates were traded on the Centralised Market over Jan.-March 2008.The closing prices this year varied from 215.34 lei a certificate in March to 194.09 lei in Jan. and Feb.The number of the green ...
Romanian Senate OKs Decree Regulating Thermal Rehabilitation Program
Thursday, April 2, 2009
Works to insulate old apartment buildings will be 50% paid from the state budget, the Romanian senate decided Wednesday, April 1, approving a government decree that targets energy efficiency by insulating old buildings.The normative act, approved by the Senate and pending approval from the Chamber of Deputies, regulates the thermal rehabilitation of buildings constructed based on construction designs drawn up between 1950 and 1990.Under the decree, 50% of rehabilitation works will be paid ...
Termoelectrica to seal 450,000euro-grant deal with EBRD in April
Thursday, April 2, 2009
The state-owned thermal power company Termoelectrica and the European Bank for Reconstruction and Development (EBRD) will sign an agreement for a 450,000 euro grant (non-refundable loan) in April to complete some feasibility studies, NewsIn informs. The amount will be divided between two feasibility studies, one swallowing 150,000 euros, meant to estimate the capacity of a new energetic group that would be able to sell energy on the free market and that will use the coals produced in the ...
Romanian Authority ANRM Declassifies Initial Deal On Black Sea Lease
Thursday, April 2, 2009
Romania’s Mineral Resources Agency ANRM declassified Tuesday the contract sealed in 1992 with Canada’s Sterling Resources for the crude oil and natural gas reserves in the Black Sea.The contract had a 25-year term, including the exploitation period, with an initial exploitation period of 5 years.In 1992, Rompetrol oil company, representing at that time the Romanian authorities, and a consortium made up of Enterprise and Canadian Oxy companies sealed an exploration deal.Subject to the ...
Romania started Wednesday the gas storage programme for the cold season
Thursday, April 2, 2009
Romania started on Wednesday the gas storage programme for the cold season which goes on by October 1, representatives of Transgaz stated on Wednesday for NewsIn. « Today started, as each year, the gas storage programme to last by October 1. The quantity of imported gas will grow gradually” Transgaz said. According to them, on Wednesday, at 12:00, gas imports grew from 30,000 cm gashour at 100,000 cm gashour. The flow is three times higher, from 0.7 million cm gasday, at 2.4 million cm ...
Republic of Moldova: Transniester pipeline explosion, deliveries to the Balkans suspended
Thursday, April 2, 2009
A pipeline explosion in Tiraspol, the separatist capital of Transniester, on Wednesday morning determined Russia to stop gas deliveries towards the Balkans, a local gas transports company, Tiraspoltransgaz declared for AFP. A company representative declared that, at 5.35 am there was an explosion a few km away of Tiraspol and gas deliveries were stopped.The pipeline crossing Analiev - Tiraspol - Ismail assured the Russian gas transports towards Romania and Bulgaria, Moldovan Special ...
Romania must close 65 non-ecological landfills by July 2009
Thursday, March 26, 2009
Romania must close another 65 non-ecological landfills by July 16, 2009, in order to avoid the launch of infringement procedure by the European Commission.I believe we are close to seeing the launch of the infringement procedure by the EC on July 16, 2009, unless we finish closing the 129 non-ecological landfills of the country, that is we manage to close the 65 holes that remained, with 74 such landfills having already ceased activity,' the Environment Minister said.There are ...
Rosia Montana gold mining project unauthorised
Thursday, March 26, 2009
The Court of Appeal based in the western Timisoara city ruled on Thursday that zoning certificate no. 1052007 on the procedure authorising the gold mining project at Rosia Montana (western Romania) is suspended by law.The court ruling backs an evaluation made by the Environment Ministry in Sept. 2007. According to the Romanian legislation, the procedure on authorising the Rosia Montana mining project cannot be re-started if it hasn't a valid zoning certificate, says a release sent ...
Bardelli to open solar panels factory at Plopeni
Thursday, March 26, 2009
Bardelli Group will open a factory manufacturing renewable energy equipment at Plopeni, Prahova County (south), where it is to make solar panels, mainly, Company official Petre Armando Bardelli said.'The factory already exists at Plopeni, but Bardelli is to refurbish it and the investment amounts to 150,000- 200,000 euros. We expect the factory to put out 5MW and to grow to 10MW, within ten months,' Bardelli told Agerpres.The research on having a solar panel maker built at Plopeni ...
Rafo’s plan to restart production
Thursday, March 26, 2009
Rafo Onesti, administrator of the Onesti refinery, one of the largest on the market, plans to invest some €350 million in modernization and entering new product portfolios. The company requested governmental guarantees for taking out a loan worth over €300 mln. “By 15 April, Rafo’s management and the investor will have to file, together with the banking partner, a project with the Ministry of Finance regarding the loan it wants to obtain based on a governmental guarantee,” said Ion ...
Holzindustrie invests 45m euros in green energy
Thursday, March 26, 2009
Austria-based Holzindustrie Schweighofer intends to invest almost 45 million euros in three biomass power stations. Gerald Schweighofer, the company's owner, says this spring Holzindustrie Schweighofer will inaugurate its first co-generation thermal power station in Radauti, with a generation capacity of 4.9 MWhour and in another two months, a similar power station will be opened in Sebes, which will have a lower capacity, of just 2.4MWhour. The location of the third power plant is yet to be ...
Romanian Energy Watchdog Keeps Household Gas Price Unch In 2Q
Thursday, March 26, 2009
Romania’s Energy Watchdog ANRE decided to keep the natural gas tariff for household users unchanged in the second quarter of the year, sources within the institution told MEDIAFAX on Monday.Late 2008, ANRE representatives said the gas tariffs may be kept until the third quarter of 2009, when they might even fall, due to the oil price cut and lower imported gas prices.The price of natural gas and electricity for household users stayed the same in the first quarter of the year as well, while ...