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Energy & Environment
Canada’s Sterling Gets $5M Financing For Ops In Romania, North Sea
Thursday, March 26, 2009
Canadian international oil and gas company Sterling Resources inked a $5 million financing agreement with Canaccord Capital Corporation, for starting drilling programs in the North Sea and Romania.In 2007, Canaccord was one of the intermediaries of a capital increase in Canada’s Gabriel Resources, the owner of Rosia Montana Gold Corporation that aims to extract gold and silver from the Rosia Montana region in western Romania.Sterling has a common shareholder with Gabriel Resources, ...
PresidentBasescu: European Council Sets Financing For Nabucco
Thursday, March 26, 2009
Romanian President Traian Basescu said last Friday in Brussels that the European Council approved the financing for the Nabucco project, and for the interconnecting pipeline between Romanian and Hungarian gas transport systems.“The financing was established for both Nabucco project, declared a priority, and the interconnection between gas transport systems of Romania and Hungary. Also, the connection between Romanian and Bulgarian gas transit systems will also be financed from EU funds,” ...
Hidroelectrica estimates output of 18 Terrawatts - h in 2009
Thursday, March 19, 2009
Hidroelectrica's estimated production in 2009 is of almost 18 Terrawattsh. The investments unfolded by the company and the upgrade works were totally worth 20.176 billion lei, according to the information supplied to Agerpres by the Ministry of Economy. Last year, the national production of the hydropower plants was of some 17.1 Terrawattshour. The export of electricity at country level in 2008 was of some 7 Terrawattshour and the balance between imports and exports was of 4.4 ...
Statistics: Electricity consumption up 8.3 percent in January
Thursday, March 19, 2009
The population's electricity consumption went up 8.3 percent in January 2009, against the same period of 2008, while the final electricity consumption was by 6.9 percent smaller than in January 2008, according to data supplied by the National Statistics Institute (INS). The final consumption of electricity on January 2009 stood at 4.388 billion KWh. Public lighting went down 0.5 percent on the same month against January 2008, while the raw energy resources dropped by 22.9 percent. ...
Romanian Household Gas Prices Seen Dn 12% In 2Q, At RON68 - MWh
Thursday, March 19, 2009
Romanian Energy Watchdog ANRE Monday said the regulated household gas prices are seen down 11.9% in the second quarter of 2009, at 68.55 lei (EUR1= RON4.2767) per MWh, compared with RON77.77MWh in the first quarter."For the second quarter of 2009, ANRE evaluated the fixed unitary amount at RON68.55MWh. The present document includes ANRE evaluations on the forecasts of necessary costs for the acquisition of natural gas to be further supplied under regulated regime (e.n. at prices settled by ...
Location for new nuclear-power plant to be known in September
Thursday, March 19, 2009
The location for the second nuclear-power plant to be built in Romania will be known this September, State Secretary with the Ministry of Economy Tudor Serban told Agerpres on Tuesday.'The location for the new n-power plant will be known this September. For the establishment of the plant there are four or five solutions under consideration that has not been analysed anew,' said Serban.As regards the alternative to the establishment of a National Energy Corporation, the official reiterated ...
Approx 8,000 Workers With Romanian SNLO Put On Extended Easter Leave
Thursday, March 19, 2009
Approximately 8,000 of the total 9,000 employees with Romania's state-owned brown coal mining company SNLO will be sent on holiday between April 21 and 30, after the Easter holidays, on lower coal demand, trade union leader Viorel Temelescu said Tuesday.The workers will come back to work on May 4."This is a measure complying with the collective labor contract. There were other possibilities, including the one of sending people home and paying them less," Temelescu said. SNLO operations will ...
Companies Romgaz and Petrom control almost two thirds of domestic trade of natural gas
Thursday, March 19, 2009
At the end of 2008, Romgaz and Petrom were among the first suppliers of natural gas, with the two controlling almost two thirds of the market. One of the top companies of last year in the trade with natural gas, Interagro holding company, was liquidated, because of the closure of the chemical plants, victims of the economic crisis, writes daily Financiarul.The state company Romgaz Medias doubled its market share for the supply of natural gas in 2008, reaching at the end of the year ...
Romania Opposes To “Unique Corridors” Collocation In Nabucco Project
Thursday, March 19, 2009
Romania blocked Monday, in the General Affairs and External Relations Council (GAERC), reaching a consensus on the European Council’s conclusions on March 19 in the package financing energy security, as the words "Nabucco project" were changed into "unique energy corridors." European authorities’ decision to change the collocations as regards the Nabucco project unsatisfied Romania’s representatives, who decided to use their votes to block the possibility to obtain an agreement on this ...
Gazprom stands against Nabucco project
Thursday, March 19, 2009
The Russian giant natural gas monopoly, Gazprom, was invited to join the European gas project Nabucco, but will decline the offer, remaining a supporter of the South Stream project. At the same time, Romania risks a delicate situation, since Nabucco seems to have lost its European support. Gazprom vice president Alexander Medvedev declared in an interview for Vesti TV that Gazprom will focus on its own project, South Stream, and will not involve in the Nabucco project. "Unlike Nabucco, we ...
Nabucco removed from EU energy project list
Thursday, March 19, 2009
Mention of the Nabucco gas pipeline has been deleted from a list of projects to be financed by a five-billion euro EU stimulus plan, it emerged after a meeting of the bloc's foreign ministers Monday (16 March). EU officials confirmed yesterday that the pipeline, once considered a flagship EU venture, had disappeared from the list of energy projects to be financed under the plan. The move was apparently made at the request of German Chancellor Angela Merkel, who insists that no public money ...
Fuel Excise Hike, Not Excluded By Fin Min To Boost Budget Revenues
Thursday, March 19, 2009
Romania's Government might hike fuel excises in 2009 to increase the budget revenues, finance minister Gheorghe Pogea said Wednesday.“If we need to increase budget revenues, an adjustment could come from this sector,” Pogea answered a question on the subject in a conference organized by Romanian business daily Ziarul Financiar, in partnership with consultancy firm PricewaterhouseCoopers.Earlier the day, Pogea said that Romania's budget deficit would be properly adjusted if the country has a ...
Wind energy sector buoyant despite downturn
Thursday, March 19, 2009
With a smaller dependence on bank loans than other industries, the wind energy sector believes it will be among the first to emerge from the recession, the European Wind Energy Association (EWEA) said at the opening of its annual conference Monday (16 March).The European wind sector is less affected by banks' reluctance to finance projects with loans as it can compensate with increased investment from institutional investors, infrastructure funds and power companies with strong balance ...
Petrom, project for construction of park in Constanta
Thursday, March 12, 2009
Petrom Co. presented, on Wednesday, a project for a park of 1.5 ha, to be built in an industrial area of the city of Constanta, with the investment amounting to 400,000 euros and the works carried out in a partnership with the local administration.The city hall of Constanta will offer the land, and according to an understanding between the parties, it will carry out some works of infrastructure, will mount a protection fence, provide guarding during the works, with the works and ...
More than one million MWh produced by Cernavoda in January
Thursday, March 12, 2009
The two units at Cernavoda (south-east) Nuclear Power Station produced in Jan. this year more than 1.053 million MWh, delivering 972,037 MWh to the National Energy System (SEN), at an average capacity factor of 100 percent, according to data published on its site by Nuclearelectrica Co.Unit 1 produced 529,131 million MWh and delivered 486,972 MWh into the grid and Unit 2 produced 524,180 MWh and delivered 485,065 MWh.In 2008, CNE Cernavoda, with both units operational, ...
Rompetrol Group Fully Takes Over Vega Refinery, Increases Stake In Rompetrol Rafinare
Thursday, March 12, 2009
Romania’s second-largest oil company Rompetrol Group NV fully took over Rompetrol SA Bucuresti, operator of Vega refinery, thus increasing its stake in its refining unit Rompetrol Rafinare from 73.27% to 75.32%.Rompetrol group developed between December 22 and January 12 a shareholder withdrawal operation at Rompetrol SA, then delisted the company from Rasdaq market. Thus, the group took over another 1.01% stake in Vega operator, for 4.5 million lei (EUR1=RON4.2903), and took over full ...
EU 'very concerned' about new gas row
Thursday, March 12, 2009
The European Union is 'very concerned' about the risk of a new gas crisis after recent comments from Russian Prime Minister Vladimir Putin, Commission chief José Manuel Barroso said last Thursday (5 March)."We are very concerned with the latest news from Ukraine and the comments of the [Russian] prime minister [Vladimir Putin]," Barroso told a news conference after receiving Bulgarian Prime Minister Sergei Stanishev. Hours before, Russian Prime Minister Vladimir Putin warned that Moscow ...
EC to invest 8.633 billion euros in Romania in green economy in 2007-2013
Thursday, March 12, 2009
The European Commission (EC) on Monday announced that it would invest 105 billion euros in the 'green economy' by the cohesion policy of the European Union over 2007-2013, of which 8.633 billion euros will be allotted to Romania. Romania and Bulgaria invest the highest ratio of the funds due to the cohesion policy in environment-related projects, with 45 percent, respectively 42 percent of allotted funds. These investments include hundreds of major projects in the environment ...
Barroso's stimulus plan revamped at Nabucco's expense
Thursday, March 12, 2009
A Commission plan to spend five billion euro on clean energy and broadband Internet infrastructure projects has been redrafted. According to the new version, seen by EurActiv, a number of countries will obtain more funding, at the expense of the EU's flagship Nabucco pipeline project.Although a Commission spokesperson strongly denied its existence, EurActiv has obtained the revised version of the five billion "smart projects" plan. The document clearly shows that a number of countries will ...
Greenpeace : If Romania builds Cernavoda reactors 3 and 4, it means they treat their population as second hand citizens
Thursday, March 12, 2009
Greenpeace requires the Romanian authorities to give up the construction plans of other two reactors CANDU 6 in Cernavoda, the press release of the organization says. The conclusions of the new report required by Greenpeace shows that the reactors are not safe enough and are too dangerous to be built. Jan Haverkamp, specialist in nuclear energy with Greenpeace Europe said that, although Romania needs nuclear energy, Cernavoda is not the locality where a child under 4 could live. “ As ...