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Energy & Environment
Aurelian Gas&Oil reveals promising results at Lilieci 1 well of Bacau
Thursday, February 19, 2009
Aurelian Gas&Oil Plc on Thursday announced that the result sof its tests conducted at the Lilieci1 well of Bacu County, indicate that the well has economic potentials, according to Reuters. Shares in Aurleian Gas&Oil PLc rose 3.3 percent on the announcement.'Lilieci-1 is our third successive successful well in Romania, following Fratauti-2 and Vicsani-1 in the Brodina EIII-1 concession. The flow rates and net pay on test indicate that we can expect to develop it as a commercial discovery,' ...
Hydroelectric plant to be built on Jiu river, put at 81M euros
Thursday, February 19, 2009
The biggest Romanian electricity producer Hidroelectrica got an authorisation from the National Energy Regulatory Authority to build a hydroelectric plant on the Jiu river, the southern Gorj country.The cost of the new plant might go up to 81 million euros, the Business Standard daily reports.The feasibility study of the project was conducted in 2002. According to it, the hydroelectric complex on the Jiu will be based on two main hydroelectric plants, namely one placed at ...
Contracts Inked By Romania’s Hidroelectrica To Be Made Public
Thursday, February 19, 2009
The Romanian Ministry of Economy intends to make public the contracts concluded by state-owned power company Hidroelectrica with private energy traders, and will ask for approval from companies in this respect, energy market sources told MEDIAFAX Saturday. According to them, the institution is also considering legal action if approval is not offered.Officials within the Ministry of Economy held Saturday talks with the general manager of Hidroelectrica, Traian Oprea, regarding the company’s ...
Sterling contract ordinance sent back to specialised commissions
Thursday, February 19, 2009
The government's ordinance on an oil agreement signed by the Romanian National Agency of Mineral Resources (NAMR) and company Sterling Resources giving the latter the right to prospect for and drill oil and gas on the Black Sea continental shelf was sent back to the Commission on industries and services of the Deputies' Chamber on Tuesday; the decision was made by a joint plenary sitting of Parliament.'Ordinance no. 101 on the oil agreement signed by the National Agency of Mineral ...
Energy generated by nuclear power plant surges 60pc in 2008
Thursday, February 12, 2009
Romania's main primary energy resources exceeded 40.414 million tonnes of oil equivalent (toe) in 2008, down 2.4 percent (1.007 million toe) from 2007, according to data released by the country's National Statistics Institute (INS).Domestic output in 2008 stood at 24.296 toe, up 0.2 percent from 2007, with imports falling 6.1 percent in the same period, to 16.118 million toe.INS data indicate that electricity resources in 2008 were 65.556 billion KWh, up 3.732 billion KWh ...
Senate industry committee rejects bill for setting up National Energy Company
Thursday, February 12, 2009
The economic, industry and services committee of the Romanian Senate has rejected, on Tuesday, the bill for the approval of the emergency ordinance for the setting up of the National Energy Company (CEN), but it kept up the concept of setting up national companies in the field of energy.'We have rejected the ordinance for the setting up of the National Energy Company, but we have kept up the concept of setting up national companies competing with international ones. The ordinance ...
Rompetrol Denies Relation With Black Sea Blocks Issue
Thursday, February 12, 2009
Dinu Patriciu, the general manager of Romania's oil group Rompetrol, denied any connection between him or Rompetrol group and the Black Sea blocks issue, and said the recent media frenzy is a "political manipulation.""We face political manipulation by making conspiracy theories aimed at discreditting me as well as Rompetrol’s operations and employees. Neither Rompetrol, majority owned by Kazakhstan's KazMunaiGaz, nor myself, as the group’s general manager, had or have any connection with ...
Canada's Sterling says Black Sea continental shelf petroleum agreement awarded by international tender
Thursday, February 12, 2009
The petroleum agreement between the Romanian state and Canada's Sterling Resources Ltd. for Black Sea blocks XIII Pelican and XV Midia, signed on August 6, 1992, was awarded by international tender and is a contract at the investor's sole risk and cost, the Canadian company states in a release. 'The petroleum agreement covering a total surface of some 4,119 sq. km. was awarded by international tender and is a contract at the titleholder's sole risk and cost,' reads the release. ...
Sterling has exploitation rights to Black Sea continental shelf gas and oil reserves
Thursday, February 12, 2009
Sterling Resources had only the right to prospect for the gas and oil reserves on the Black Sea continental shelf, before the International Court of Justice (ICJ) decision, PM Emil Boc said at the end of the Government's sitting on last Thursday. 'Sterling Resources had only the right to the prospect for the gas and oil reserves on the Black Sea continental shelf, before the ICJ decision. After the decision, Sterling also has exploitation rights,' PM Boc said. ...
Sterling Resources claims it invested 56 million dollars in exploring Black Sea resources
Thursday, February 12, 2009
Sterling Resources invested some 56 million dollars in exploring the Black Sea resources, conducting mainly seismic risk analysis and drilling in the Pelican and Midia areas, said Stephen Birrell, general manager of Midia Resources on last Thursday. The officials also pointed at the fact that Sterling Resources invested in the oil exploration in Romania since 1997. In a press release, the Canadian company shows that some 130 million dollars were invested since 1992 in the Pelican ...
Romania Granted Sterling Exclusive Oil Drilling Rights In Black Sea Blocks
Thursday, February 12, 2009
The appendix of the oil drilling contract closed between Romania’s Mineral Resources Agency ANRM and Canadian company Sterling Resources stipulates the exclusive right of drilling operations on two Black Sea oil resources blocks.The document allows Sterling to carry out operations on the entire period of the contract, in XIII Pelican and XV Midia blocks, according to the appendix posted Friday on ANRM's website.The paper also allows a third party to develop mining operations in the ...
Sterling To Pay Romania Oil Dues Worth 3.5%-13.5% Of Gross Production
Thursday, February 12, 2009
Canadian company Sterling will pay the Romanian state quarterly oil dues between 3.5% and 13.5% of the value of gross production of crude oil and gas, depending on the volume of production, computed based on reference prices set up by Romania’s Mineral Resources Agency ANRM, according to the Oil Law.For the natural gas, the company will pay dues between 3.5% and 13% from the value of the gross production.No dues will be paid for the oil representing the minimum safety stock, according to the ...
Romania’s Petrom, Canada’s Sterling Leased Blocks Overlap Area Disputed At Hague
Thursday, February 12, 2009
Romania’s dominant oil company Petrom (SNP.RO) and Canada’s Sterling Resources obtained the lease of some oil perimeters overlapping the surface of continental plateau won by Romania in its Hague trial, Bogdan Gabudeanu, the former head of Romania’s Mineral Resources Agency ANRM, said last Friday.According to him, Petrom has 80%, while Sterling has 20% of the leased surface that overlaps the one won by Romania at the International Court of Justice at The Hague, in its dispute with Ukraine. ...
EU readies details of bioenergy policy
Thursday, February 12, 2009
The EU is preparing to present a template for national biomass action plans, after endorsing new renewables legislation last year that is set to increase the bloc's bioenergy production, Paul Hodson, deputy head of unit in the European Commission's energy and transport directorate, said Monday (9 February).Outlining Europe's biomass policy, Hodson said bioenergy plays a crucial role in any scenario to meet the EU's target of increasing the share of renewable energies in its energy mix to 20% ...
Romanian RAFO Onesti Resumes Operations To Complete Equip Upgrade Program
Thursday, February 5, 2009
Romanian refinery Rafo Onesti resumed operations this Monday, to carry out the equipment upgrade program, and almost 900 of its 1,300 employees returned to work, two weeks after the return of its first 350 employees."Rafo Onesti management, with the investor’s approval, launched the most difficult and most complex modernization and investment program applied by the company after 1980. Through the project and the new technology, Rafo will give up the production of gasoline, which is in excess ...
EU debates inviting Russia to join Nabucco
Thursday, February 5, 2009
Lawmakers in the European Parliament are considering inviting Russia to join the Union's Nabucco gas pipeline project, to avoid competition with rival projects sponsored by Moscow in the wake of the Russia-Ukraine gas dispute. The proposal is contained in a report on the EU's strategic energy review, which is set be voted upon tomorrow in the European Parliament. French MEP Anne Laperrouze (ALDE), author of the report and vice-chair of the Parliament's committee on industry, research ...
E.ON press conference: Romanian Electricity Prices Should Hike
Thursday, February 5, 2009
Romanian electricity prices should be higher, E.ON Romania’s general manager Frank Hajdinjak said Wednesday in a press conference."We see an increase in the electricity price, we are currently in talks with ANRE (the Romanian Energy Watchdog -e.n.)," Hajdinjak said.He also said earlier that Romanian household natural gas prices should be higher as of April 1, and they are not likely to decrease this year.Electricity prices were last increased by 5.3% in July 2008, following a 3.95% increase ...
Romanian Govt To Draft Strategy For Black Sea Resources Exploitation
Thursday, February 5, 2009
The Romanian government will draft a strategy for the exploitation of the resources assigned through the decision of the International Court of Justice in the dispute between Romania and Ukraine, in accordance with the national interest, and aiming to consolidate the country’s energy independence.The International Court of Justice at The Hague drew Tuesday a new maritime border between Romania and Ukraine, settling a decade-old dispute. The ruling gives Romania 9,700 square kilometers ...
… and Petru Lificiu becomes ANRE leader
Thursday, January 29, 2009
Petru Lificiu, former minister of Waters and Environment Protection in the Nastase government and ex-chairman of the Romanian Ecology Party was named chairman of the ANRE, through decision signed by premier Emil Boc on Wednesday. ...
Pompiliu Budulan is the new manager of Nuclearelectrica and Ioan Folescu the new manager of Electrica
Thursday, January 29, 2009
The minister of economy, Adriean Videanu issued on 24 January 2009 the nomination orders for Pompiliu Budulan as general manager for SN Nuclearelectrica SA and Ioan Folescu for Electrica SA, according to an announcement posted on Monday on the ministry site. Corneliu Stan occupied the position of general manager of Electrica since 2007 and until January 2009. The former general manager of Nuclearelectrica Teodor Chirica occupied this position since February 2005 until January 2009. The ...