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Energy & Environment
Oil Terminal signed contracts of 7.2 mil.euro with Petrotel Lukoil
Thursday, January 29, 2009
The Romanian harbour operator Oil Terminal signed 3 contracts for services and expedition with the Petrotel Lukoil refinery, worth 31 mil.lei ( 7.2 mil.euro) according to the data published by BVB. The three contracts include that Oil Terminal delivers this year, for the refinery of the Russian company, services necessary for the international traffic of oil products. Oil Terminal signed another contract, which includes those types of services, worth 5 million lei ( 1.16 million euros) ...
The ministry of economy wants to relaunch the mining sector and will start the evaluation of the energy system
Thursday, January 29, 2009
The ministry of economy announced the IMF delegation that they want to relaunch the mining sector and will start the evaluation process of the energy system, according to a press release sent on Wednesday by the ministry, following the meeting with the IMF delegation to Bucharest. The press release mentions that they will start a process of evaluation of the whole energy system and of the energy strategy, thus they could correspond to the real demand on the market, a special attention ...
Rompetrol Petrochemicals restarts the polyethylene installation closed in December
Thursday, January 29, 2009
Rompetrol Petrochemicals, the petrochemicals division of the Rompetrol Group will restart on Monday, February 2nd the polyethylene installation (LDPE) closed in December and will recall approximately 40% of the personnel according to a press release on Wednesday. Over the next period, the Rompetrol Group will reevaluate, in agreement with the evolution of the respective market, the economic-financial situation for Rompetrol Petrochemicals and will support the adoption of some measures such ...
Videanu: National Energy Company was destroying competition in Romania
Thursday, January 29, 2009
The National Energy Company was a big error, in the form it was set up, since Hidroelectrica, with the best thermoelectric plants - Turceni and Rovinari - together with Electrica make up a monopoly, Economy Minister Adriean Videanu told a television channel . 'The National Energy Company, such as it was set up, is a big error. It was the champion that was destroying both competition and the free market in Romania', Videanu stressed, quoted by Agerpres.According to the minister, the ...
Videanu: During gas crisis, Romania demonstrates it is key player in its region
Thursday, January 29, 2009
Romania demonstrated, during the period of the Russian gas crisis, that it is a stable market and an important player in the region, said, on Sunday, on TV, minister of Economy Adriean Videanu.'During the period of the natural gas crisis, Romania not only managed its internal problem by itself, with no cu m of imported gas, but it did not stop supply for the population, for heating and industry. We managed things, we replaced the natural gas imported with alternative fuel, and we ...
Romanian Authorities Mull Resuming Talks With Russia On Gas Issue
Thursday, January 29, 2009
Romanian authorities aim to resume talks with Russia on the issue of natural gas, as well as other "heavy" issues, Economy Ministry secretary of state Tudor Serban said ."There are some issues we want to deal with. The Ministry of Foreign Affairs will arrange a meeting in Moscow in the upcoming period, and then an economic visit. We hope to resume talks on various heavy issues between the two countries," Serban said.Serban added he met the Ambassador of Russia to Bucharest, but refused to ...
Transgaz, unharmed by gas crisis
Thursday, January 29, 2009
Romanian Transgaz natural gas carrier is said to have come out unharmed in its contracts with Gazprom Export and Bulgargaz for the time the Russian Federation halted gas supplies.Transgaz Director General Ioan Rusu explains that tariffs under these contracts were computed against transport capacity and there is virtually no operational loss involved because of the supply halt.On the other hand, Rusu admits that Transgaz's gas import business has recorded losses because transport ...
Europe seeks to draw lessons from gas crisis
Thursday, January 29, 2009
The Russia-Ukraine gas dispute, which caused disruptions in supply to eighteen European countries this winter, was a "sharp reminder" that Europe needs to get its act together on energy security, the European Commission has stressed. Commission President José Manuel Barroso welcomed the resumption of gas deliveries to Europe on Tuesday (20 January), after a two-week standoff that left millions of East Europeans without heating in the middle of winter.But he also warned that long-term ...
Escaping climate disaster 'affordable', says report
Thursday, January 29, 2009
It is possible to maintain global warming below 2°C at an overall cost of less than 1% of global GDP if swift action is taken across different sectors, a study published Monday (26 January) by consulting firm McKinsey showsThe consulting firm estimates that €530 billion will need to be invested across the world by 2020 to reduce emissions to 70% below "business as usual" and avoid dangerous levels of global warming. Overall, €810 billion would need to be invested by 2030 to to avoid such a ...
Global renewables agency launched as support falters
Thursday, January 29, 2009
A new international agency to promote renewable energies across the world was launched in Bonn on Monday (26 January) with fewer signatories than had been hoped for, after the US and UK dropped out of the list.The International Renewable Energy Agency (IRENA) was established to counterbalance for the International Energy Agency, which has been criticised for favouring fossil fuels over green energies. IRENA is expected to offer advice to both industrialised and developing countries on ...
Romania reconfirms commitment to Nabucco gas pipeline project
Thursday, January 29, 2009
Romania is reconfirming its commitment to the achievement of the Nabucco gas pipeline project, Romanian Economy Minister Adriean Videanu said on Tuesday (Jan 27) in Budapest at a Nabucco summit meeting."Romania is reconfirming its commitment to the achievement of the Nabucco project in a context in which the Russian-Ukrainian dispute showed the vulnerability of the European states as far as their energy supply and energy resource diversification are concerned," said Videanu. ...
Enel to invest almost 700 million euro in the modernization of the Romanian grid
Thursday, January 22, 2009
Enel will invest almost 700 million euro in the next five years to modernize the infrastructure of the electricity grid in Muntenia, Banat and Dobrogea. « As the main foreign operator in the domain of electricity distribution in Romania – with a market share of almost 30%, Enel foresees the initiation of a big number of projects for the modernization of the grid in the three regions, with significan benefits for the clients in the respective areas. The investments for the next five years ...
The ministry of economy replaced AVAS in the Petrom shareholders
Thursday, January 22, 2009
The shares owned by the AVAS at Petrom were transferred on Thursday, 15 January, in the ministry of economy accounts, the company announced on Tuesday. “ The Central Depository made on January 15th 2009 the transfer of the shares owned by AVAS at Petrom for the ministry of economy” Petrom mentions in the press release. As a result of this transfer, the ministry of economy owns a number of 11.69 billion shares, representing 20.36% of the Petrom social capital, according to the press release ...
Russia cutting off gas does not affect S&P rating for Transgaz
Thursday, January 22, 2009
Transgaz corporate credit ratings, which were granted depending on the country rating, would not be affected by the current cutoff in the supply of natural gas from Russia via Ukraine, according to the recent analysis made by specialists from the rating and financial evaluation agency Standard& Poors Ratings Services.Thus, in its quality as the single technical operator certified of the National Natural Gas Transportation System in Romania, Transgaz has the important responsibility ...
Natural gas supplier Distrigaz boosts profit 30 times in three years
Thursday, January 22, 2009
The net profit made by Romanian natural gas supplier Distrigaz Sud rose 30 times in three years, from 6.2 million lei (some 1.5 million euros) before being privatised in 2004 to 182.3 million lei (54.6 million euros) in 2007, the Business Standard daily quotes company figures as showing.The gas distributor's turnover went up by roughly 50 percent, while investments were up by 35 percent in the above-mentioned period.Distrigaz Sud has also entered the natural gas storage market, ...
Coal production falls 1.4 percent, in first 11 months in 2008
Thursday, January 22, 2009
Romania's net production of coal stood in the first eleven months of last year at over 6.009 tonnes equivalent oil, teo, down 1.4 percent, or 86.300 teo, from the same period in 2007, said data from the National Institute of Statistics, INS.January through November 2008, Romania imported over 1.926 million teo net coal, down 940,400 teo from the same period in 2007. ...
Loans for mining, proposed by Economy Ministry
Thursday, January 22, 2009
The Economy Ministry has come up with the proposal of taking out three loans worth a total 390 million euro to boost the mining sector. The document includes the proposals of the working group for 'The joint platform of anti-crisis measures''.The Economy Ministry proposed a 90-million euro loan to be taken out in May for 2009-2010, aimed for upgrading. The loan's value in 2009 should stand at 35 million euro and in 2010 at 55 million euro. Moreover, the working group proposes ...
OMV chief: Gas transport systems in Central and East-European states must be connected, in order to avoid future crisis
Thursday, January 22, 2009
The Central and East European states must connect their natural gas transport systems, in order to be able to deal with situations like the one between Russia and Ukraine, said the OMV president, Wolfgang Ruttenstorfer, on Monday, during a conference in Vienna. According to Ruttenstorfer, Nabucco and South Stream may also represent solutions for Europe's energy independence. "During the recent gas crisis, developed countries like the United Kingdom, France or Germany didn't have to ...
The EU did not find proof that Ukraine had taken Russian natural gas
Thursday, January 22, 2009
The European Union did not find proof to support Russia’s allegations according to which Ukraine would have taken from the deliveries destined to the European countries, announced on Tuesday the European Commissionaire for Energy, Andris Pielbags during a press conference organized in Kiev together with the Ukrainian premier Iulia Timosenko. Pielbalgs welcomed the fact that the agreements in the domain of natural gas between Russia and Ukraine had allowed the delivery to Europe. The ...
EU cautious over Russia-Ukraine gas deal
Thursday, January 22, 2009
The European Commission has reacted cautiously to a deal struck between Russian Prime Minister Vladimir Putin and his Ukrainian colleague Yulia Timoshenko on Saturday night (17 January), saying the crisis will not be over until supplies to Europe are resumed."We welcome the progress achieved in the talks between the representatives of the Russian Federation and Ukraine announced this morning in Moscow. However, we remain realistic," said Czech Minister for Trade and Industry Martin Riman. ...