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Energy & Environment
France tables sweeping 'derogations' in climate deal push
Thursday, November 27, 2008
Early identification of industries exposed to foreign competition and temporary exemptions from full CO2 permit auctioning for coal-dependent economies are part of a French EU Presidency compromise proposal designed to overcome opposition to EU climate plans from some of the bloc's heavy industries and newer member states.The compromise proposal , obtained by EurActiv France, calls on the European Commission to 'rapidly' produce figures that set a threshold to quantify the risk of certain ...
Romanian Environment ministry to attribute a 2 million euro contract for promoting EU environment funds
Thursday, November 27, 2008
Three consultancy and publicity companies won a contract with the Environment ministry of 7.7 million Romanian Ron, which represents some 2 million euro. Ars Advertising, the agency to take most of the money from the contract won in the last years several others tenders organized by local authorities. The general objective of the contract is to create the necessary premises to absorb European environment funds available for Romania by promoting and increase their awareness, the announcement ...
Rompetrol Well Services profit, up nearly 33pc in first nine months
Thursday, November 20, 2008
Rompetrol Well Services has posted a 9-month net profit of RON 20.122 million, up nearly 32.8 percent from the similar period of the year before, according to data submitted to the Bucharest Stock Exchange.The corporate turnover surged 17.65 percent, to RON 77.393 million (one euro is currently traded for RON 3.83 lei).The total revenues amounted to RON 79.678 million, by 17 percent larger than in January-September 2007, while the expenses reached RON 55.291 million (up 10.38 ...
Romania gains ground in new EC energy action plan
Thursday, November 20, 2008
The European Commission adopted on last Thursday a new plan of action for the energy security field and the member states solidarity, within the wider European energy strategy revising plan. The emphasize on securing the energy resources makes Romania an important benefiter of the measures: the Nabucco natural gas pipeline will finally receive the support is needed, while the Romanian gas and electricity grids will be connected to the regional ones. In brief, the new energy plan ...
Foreign Minister Comanescu: Romania stays resolutely engaged in Nabucco project
Thursday, November 20, 2008
Romania is and stays resolutely engaged in turning to reality the project of the Nabucco gas pipeline, which is Europe's most important project for gas supply from alternative sources, Romanian Foreign Minister Lazar Comanescu declared on Friday at the Energy Summit in Baku, Azerbaijan.'We have positive signals about Nabucco, from partners interested in the project, which strengthen our confidence in its robustness and economic viability,' remarked Minister Comanescu, cited in a ...
Wind picks up for offshore grid plan
Thursday, November 20, 2008
The European Commission is promoting offshore wind energy development as part of its Second Strategic Energy Review, released in Brussels yesterday (13 November). Endorsement by Brussels comes hot on the heels of massive growth in the sector."Wind resources over Europe's seas represent a vast, indigenous source of clean, renewable energy," the Commission said in a statement accompanying its new action pla n to promote offshore wind energy. Second only to natural gas in terms of new ...
Oil Terminal profit down nearly five times in nine months
Thursday, November 20, 2008
The net profit of the Oil Terminal Constanta company (on the Black Sea coast in southeastern Romania) dropped nearly five times in the first nine months this year compared to the same period of 2007.According to the financial data submitted to the Bucharest Stock Exchange (BVB), the net profit of the company reached 1.51 million lei after the first nine months of 2008, while in the same period last year the company posted a net profit of 7.3 million lei.From January to September ...
Net 9-month profit of Steaua Romana Refinery grows by more than 26-fold
Thursday, November 20, 2008
Net profit of Steaua Romana Refinery grew by more than 26-fold in the first nine months of 2008, to 10.484 million RON (some 2.75 million euros), compared to similar period in 2007, according to data remitted to Rasdaq.The company posted in the mentioned period a net turnover of 374.85 million RON (some 98 million euros), a jump of almost 56 percent from the same period in 2007.Total revenues over January 1 - September 30, 2008 exceeded 395.4 million RON (some 104 million euros), a hike of ...
Energy companies to stay preferred clients of banks during crisis
Thursday, November 20, 2008
The Romanian energy sector could not be hit by the crisis, as it is able to generate funds, it is able to take loans even with much higher interests, which would mean that the firms operating in the field will stay the preferred clients of banks, in times of crisis, said, for Business Standard daily, advisory general manager Deloitte Romania Valeriu Binig.He stressed that, in 2030, Romania will be less dependent in point of energy than the average in the EU, probably 50 percent, ...
Transelectrica and Mavir start tests for new electric air line
Thursday, November 20, 2008
Transelectrica and Hungarian electricity transport operator Mavir started tests for the operation of an air electricity line of 400 kV between Nadab, Romania, and Bekescsaba, Hungary, and of a new Romanian interconnection station of 400 kV, of Nadab, Transelectrica said.The line and the interconnection station are an investment totalling some 10 million euros, made with funds from a syndicated loan with no governmental guarantees, given by the European Bank for Reconstruction and ...
Petrom, Romania’s biggest company, reexamines investment blueprint
Thursday, November 20, 2008
Petrom, Romania’s biggest company will reexamine its investment blueprint, according to their profitability and retrieval period, in the context of economic crisis. “We’ve initiated a reexamination process of the company’s equity investment projects, based on two criteria, namely profitability of each investment project and retrieval period of investment in order to maintain a solid balance. We will continue to focus on upgrading activities, program started in 2005”, said the representatives ...
MOL ups sells by 2% fuel and reports losses in Q3
Thursday, November 20, 2008
The sales of fuel of the Hungarian company of oil and natural gas MOL, present on the Romanian market with a network of 130 petrol stations grew by 2 percent in the first nine months of the year, but it reported losses in the third quarter of the year, based on the poor operational results in refining and marketing, according to the preliminary financial results quoted by daily Business Standard.According to the figures, MOL reported in Q3 net losses worth 4.9 billion forints ...
Renexpo South-East Europe 2008 welcomes 55 participants
Thursday, November 20, 2008
As many as 55 companies from nine countries are taking part in the first international fair for renewable energies and energy efficiency organized in Romania, which opened this Wednesday at the Palace Hall in Bucharest.'We are for the first time in Romania with this event and we have started this program four months ago. The result of this work is the presence of 55 exhibitors,' said Johann - Georg Roehm, Chief Executive Officer of REECO German group, the event's organizer.The ...
UN: Industrialised countries' emissions on the rise
Thursday, November 20, 2008
The five percent decrease in industrialised countries' CO2 emissions between 1990 and 2006 was mainly due to economic decline in Eastern and Central Europe in the 1990s, but the overall trend has been upward since 2000, according to UN data. "The picture is somewhat different for countries which have ratified the Kyoto Protocol," as their emissions fell by 17% in the same period, said Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Yvo de Boer, ...
Romgaz profit grows by 77 pc till Sept
Thursday, November 13, 2008
Romgaz scored a net profit worth 442 million lei, namely about 119.5 million euros, during the first nine months of the year, by 77.62 percent higher than during the same time span last year, Company's release says. Romgaz turnover went up by 4.35 percent and amounted to 2.388 billion lei (round 645 million euros), over Jan-Sept 2008, compared to that over the first eight months of 2007. The increase in the turnover is the result of the growth in the quantity of methane Romgaz supplied, and ...
PM Tariceanu backs up building of hydropower works at Turnu Magurele
Thursday, November 13, 2008
Romania's Prime Minister Calin Popescu Tariceanu endorses the building of the hydropower works, in the Turnu Magurele -Nicopole area, in cooperation with Bulgaria.The project could be used for protecting the area against floods, irrigating croplands and not least, for improving the navigation along this Danube segment, because sailing becomes very difficult when the river's flow drops, PM Tariceanu said when in Galati (east), on Thursday.PM Tariceanu stressed that Austria's ...
Romania imported 3.2 tons of oil equivalent gas in first nine months of 2008
Thursday, November 13, 2008
Romania, in the first nine months of this year, imported a quantity of usable natural gas of 3.2 tons of oil equivalent, some 8 percent more than in the same period of 2007, according to data supplied by the National Statistics Institute (INS).In the above-mentioned period, the production of natural gas totaled 6.898 million tons oil equivalent, by 2.4 percent less than over January-September 2007.According to data supplied by British Petroleum, Romania's natural gas reserves stood ...
Turceni and Nuclearelectrica power plants to sale over 518,000 MWh
Thursday, November 13, 2008
Turceni and Nuclearelectrica power plants launched on the Centralized Market of Bilateral Contracts (PCCB) four electricity sale bids totaling 518,000 MWh, Romanian Power Market Operator (OPCOM) web page informs.Turceni power plant launched two electricity bids, the first for 87,600 MWh to be supplied over Jan 1 - Dec 31 2009, and the second for 21,590 MWh to be delivered over Jan¬March 2009.In its turn, Nuclearelectrica launched two bids for 204,408 MWh each, and the electricity will be ...
Coal production down 2.5 pct in 9 months
Thursday, November 13, 2008
The net coal output reached 4.896 million tonnes in oil equivalent January through September this year, that is a drop by 2.5 percent on the same interval last year, according to data centralized by the National Institute of Statistics (INS).Romania imported 1.646 million tonnes of coal in oil equivalent over January-September, that is an increase by 28.8 compared with the first three quarters of 2007.The coal output in Romania totaled 7.4 million tonnes in oil equivalent ...
Romanian-Jordanian memorandum on peaceful use of nuclear energy
Thursday, November 13, 2008
President of the Nuclear Agency in Romania Valica Gorea and the President of the Nuclear Energy Commission of the Hashemite Kingdom of Jordan Khalid Touqan have signed on Monday a Romanian-Jordanian Memorandum of Understanding on cooperation in the field of peaceful use of nuclear energy.'Based on this Memorandum, the Romanian experts are to grant technical assistance to their Jordanian colleagues, will secure their professional training and create the premises of the building in ...