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Energy & Environment
Shell: the Romanian market is not interesting for us
Thursday, November 6, 2008
Shell will not invest in Romania in the future since it considers the Romanian gas market is not interesting because of the weak transit of gas, vice-president Jorge Santos Silva declared at Shell Enegry Europe.Romania is not in our investment plans. We concentrate on markets with an important gas transit, such as Turkey, Hungary, Slovakia, Austria and Ukraine. Here we will continue to make investments, the vice-president for business development in Europe said. According to him, the ...
Transgaz, Romgaz and Gazprom managers to meet again in December
Thursday, November 6, 2008
Transgaz and Romgaz representatives will meet the Russian company Gazprom managers again in December, Transgaz says in a press release published on the Web site of the Bucharest Stock Exchange (BVB).Transgaz general manager Ioan Rusu and Romgaz deputy general manager Lucian Stancu on Wednesday, Oct. 29 met in Bucharest a visiting delegation of the Russian company headed by Vlada Rusakova, member of the Board of Directors and head of the Department for Strategic Development. The parties ...
MAE: Nabucco, an element of priority energy security for Romania
Thursday, November 6, 2008
Romania’s number one priority remains Nabucco and we cannot speak about a betrayal of the European project, despite the recent declarations about Romania’s joining the Russian project South Stream, Stefan Tinca the head of the analysis and political planning department within the Foreign Ministry(MAE). Nabucco is an important element for Romania’s energy safety and this project remains a priority for Romania, Stefan Tica said at the seminar “NATO and the European Policy for Safety and ...
EU’s Piebalgs on 'Nabucco tour' for gas supplies
Thursday, November 6, 2008
EU Energy Commissioner Andris Piebalgs started a visit to Turkey and Azerbaijan from Wednesday (5 November) on the first leg of a high-level tour of Central Asian countries involved with the bloc's flagship Nabucco gas pipeline project. The visit, which was initially planned for a larger number of supply and transit countries, was finally restricted to Turkey and Azerbaijan due to calendar constraints, said Piebalgs's spokesperson Ferran Tarradellas. The commissioner would also like to visit ...
Carbon dioxide could increase price of energy
Thursday, October 30, 2008
The costs of producing electricity from coal could double as of 2013 due to the adding of the costs of carbon dioxide emissions, said , in Rome, Gabriel Baleanu, expert in the Romanian Ministry of Economy and Finance (MEF).He added this may affect the competitiveness of the Romanian economy and will generate social costs that will affect the final consumer.According to the MEF official, Romania considers the impact of the decision to trade in the certificates of greenhouse gases as of 2013 ...
The social and economic effects of the Climate and Energy Package proposed by the European Commission for the Polish economy
Thursday, October 30, 2008
Studies conducted by the European Commission and EnergSys contain an in-depth evaluation of the macroeconomic effects of the Climate and Energy Package for the Polish economy. Both these studies show that implementation of this Package means that Poland will incur direct costs (investments in technologies reducing CO2 emissions and in renewable energy sources, use of more expensive fuels with lower CO2 emissions for energy production, and purchase of CO2 emission allowances) and indirect ...
Romania supports EU objectives in climate changes
Thursday, October 30, 2008
Romania reiterates its support to the objectives of the European Union regarding the actions necessary in the field of climate changes and energies from renewable sources, after 2012, as they have been agreed by the spring European Councils, in 2007 and 2008, Minister of Environment and Sustainable Growth Attila Korodi said at the Environment Council in Luxembourg. According to a press release , Korodi said that, during the meeting of the Governments of Romania and Hungary, a common ...
Rompetrol eying to sell LPG in Central and Eastern Europe
Thursday, October 30, 2008
Rompetrol group, owned by state oil company from Kazakhstan KazMunaiGaz, plans to expand its business with LPG (liquefied petroleum gas) and to this end stakes on imports from Kazakhstan, said vice-president of Rompetrol, Ion Sturza in an interview for Argus. 'We plan to import propane and propane-butane, namely an amount of up to 100,000 tonnes a year. We hold talks with Tengizchevroil and with other Kazakh suppliers of natural gas. I believe by the end of the year, we'll start to ...
Some 30 billion euros to be invested in efficient energy use by 2020
Thursday, October 30, 2008
As much as 15 billion euros will be invested in the efficient use of energy in the next four years and up to 30 billion euros by 2020, Minister of Economy and Finance Varujan Vosganian told the annual GIE conference .The investments will refer to doubling the production capacity of Nuclearelectrica's nuclear power plant and partnerships of Termoelectrica company for the units located in Galati, Braila, Borzesti (eastern Romania) amounting to 3.4 billion euros, the minister said. 'The ...
GDF Suez might invest in Constanta Port liquefied gas terminal
Thursday, October 30, 2008
Gaz de France Suez Group is interested in a possible investment in the liquefied gas transportation terminal in the Constanta Port (south-eastern Romania), a project announced by the Romanian authorities, Patrick G.Wailliez, advisor on natural gas issues to the group's president on Friday told Agerpres. 'We are still waiting for the decision of the Romanian authorities on this terminal, but we regard this as a potential investment as we have important activities in this sector,' said ...
Seenews rates Petrom second-biggest regional company, in 2007
Thursday, October 30, 2008
The biggest Romanian oil company, Petrom, was ranked second large among the local firms, in 2007 earning a turnover worth 300 million euros, after the Slovenia Industrija Nafte energy company, according to a SEE Top 100 study, carried out by the Seenews corporate news agency. The top ten companies are dominated by energy producers .Fifteen of Romania's companies are among top earners in Southeastern Europe. According to the study, quoted by the Romanian Agency for Foreign Investments (ARIS), ...
Hidroelectrica's profit: 78m euros over Jan.-Sept.
Thursday, October 30, 2008
The largest electricity producer on the local market, state-owned company Hidroelectrica expects not quite a positive development in the last quarter of the year, after having concluded the first nine months with a gross profit of 78.3 million euros, 4.8 times higher than over the same period of the previous year, the company's general manager Traian Oprea told daily Business Standard. 'In nine months we reported a gross profit of 282 million lei (78.3 million euros) compared to 58 ...
Moderate optimism in Nabucco project development. Russian involvement still possible
Thursday, October 30, 2008
The Nabucco natural gas pipeline is still one of the main European energy projects, as long as it represents an alternative able to ensure the energy independence in the European Union, a forum in Prague concluded. Two more pre-launching steps could be taken in the project before the end of November. "We intend to launch the project according to the existing schedule, in 2010", said the Research & Engineering manager in the Romanian national gas transport company, Transgaz, at the ...
Gazprom’s Delegation Visited Slovenia, Greece In South Stream Pipeline Project
Thursday, October 30, 2008
A delegation of Russian natural gas monopoly OAO Gazprom visited last week Slovenia and Greece to discuss about the feasibility study development for the South Stream gas pipeline construction project on the territory of the two countries, Gazprom announced Monday in a press release.Vlada Rusakova, head of Gazprom’s Strategic Development Department and some specialists of Gazprom Export and Giprospetsgaz were among the Russian group’s officials who paid a working visit in Slovenia and Greece ...
Statistics: Environment protection expenditure - approximately 11 bln lei, in 2007
Thursday, October 23, 2008
Environment protection spending nationwide stood at approximately 11 billion lei (some three billion euros) in 2007, accounting for some 2.7 percent of the Gross Domestic Product (GDP) compared to 2.3 percent of the GDP in 2006, according to a release of the National Statistics Institute (INS).Environment protection expenditure at national level includes investments and current spending, namely the current expenses, covering own environment protection activities.Weight of spending ...
Electrica to supply twice as much energy to industrial consumers in 2009
Thursday, October 23, 2008
Electrica is going to supply twice as much electricity next year to industrial consumers compared to 2008, company's director general Corneliu Stan announced in Rome last week.'We already have some 80 percent of the energy quantity requested by consumers, under conditions of a twice as much demand on the market', explained Stan.He stressed that Alro, which has become Electrica's customer in the second half, has asked an almost double quantity as against 2008 and Oltchim - 20 percent more ...
Bogdan Olteanu: Energy company, a solution for more transparent energy transactions
Thursday, October 23, 2008
The establishment of a National Energy Company (CEN) would be a solution to make transactions on the energy market more transparent, Chamber of Deputies Speaker Bogdan Olteanu said on Thursday, Oct 16 in Rome.'Some of the old companies preserved bilateral contacts which are less transparent. We now have the possibility to bring those contracts to light,' Olteanu explained.In his opinion, this company is the answer of Romania's public authorities to challenges on the ...
Electrica doubles market share
Thursday, October 23, 2008
Electrica SA, a fully state owned utility, has managed to become the largest electricity supplier in Romania, outperforming its main direct competitor, Energy Holding, in the first seven months of 2008, read data with the National Energy Regulatory Authority (ANRE).Electrica reported a business turnover of RON 4.5 billion (nearly 1.25 billion euros) in the first nine months of 2008, up 30 percent year on year. The company's gross profit reached a record level of RON 1.6 billion ...
LukOil Romania shrinks profit by 7 percent because of international crisis
Thursday, October 23, 2008
LukOil Romania will end 2008 in a turnover rising by some 30 percent compared to the result of 2007, allowing for the rise in the quotations of oil products, but with an operational profit decreasing by some 6-7 percent, after the rectifications pertaining to the international financial crisis, the company's general manager, Constantin Tampiza, told daily Business Standard.‘'This year we'll have a turnover of over 2.3 billion dollars, going up due to the rise in the oil price. If ...
Eurostat: Romania doled out 0.7% of GDP for environment protection in 2004, above EU average, statistics show
Thursday, October 23, 2008
Romania broke the wallet open and spent some 0.7 percent of the gross domestic product (GDP) on environment protection projects four years ago, above the then European average of 0.4 percent, according to the European statistics body Eurostat.Spending with environment protection of the 25 EU members in 2004 stood at a medium 45.6 billion euros. The European statistics revealed that Romanian industrial companies spent 585 million euros to reduce pollution four years ago, 40 percent of this ...