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Energy & Environment
Petrom Co. Report: Higher fuel sales boost Petrom's turnover
Thursday, August 7, 2008
The 52 pc hike in Petrom Co. turnover was due to higher fuel sales, company's financial manager Reinhard Pichler stated on Wednesday in a press conference.At the end of the first half of the year, company's turnover stood at 8.274 billion lei (1 euro trades at 3.50 lei), up 52 percent compared to the first half of last year.'Company's turnover grew over the mentioned period due to higher fuel sales', stressed Pichler.Petrom reported a net profit in the value of ...
Import Gas Price To Hike In Romania In 4Q ’08 - E.ON Gaz
Thursday, August 7, 2008
The import gas prices will hike in the last quarter of 2008, Frank Hajdinjak, president of the managing board of gas distributor E.ON Gaz Romania, the local unit of Germany's giant E.ON, said Wednesday in the central Romanian city of Targu Mures."Germany has already announced a 15-20% hike in the gas price. Romania will follow this path. The price of the imported natural gas will hike in the last quarter of the year, and we have already begun talks with the country’s energy watchdog ...
Transgaz versus Transelectrica – comparative analysis
Thursday, August 7, 2008
Transgaz (TGN) and Transelectrica (TEL) are companies listed on the BVB ( Bucharest Stock Exchange) whose majority shareholder is the Romanian state. Their evolution on the capital market could be examples of success stories, taking into consideration the important rates of oversubscription in the public bids and the accelerated increases of quotations over the first weeks after listing. The initial bids of the two companies were ones of the most oversubscribed IPOs in the history of ...
CE Craiova possibly privatized through a strategic investor
Thursday, July 31, 2008
The CE Craiova energy complex could be privatized through a strategic investor and the listing of stake on the Stock Exchange, reports Business Standard daily. According to company sources, the privatization could begin with a capital increase, when fresh shares will be sold to investors. The next move would be the sale of existing shares, until someone gains control of the complex.The starting price for the auction will be set by an advisor. General Manager of CE Craiova, Ion ...
State aid worth 200m euros in renewable energy field
Thursday, July 31, 2008
Business operators can be granted state aid totally worth 200 million euros over 2008-2013 for initial investments in the capitalization of energy renewable resources, according top a government's decision published by the Romanian Official Gazette. Of the total budget allotted in state aid worth 200 million euros, 169.7 million euros are non-repayable European funds provided by the European Regional Development Fund and 30.3 million euros are funds of public co-financing allotted ...
Electrica Receives Offers For Association In Power Companies Construction In Romania
Thursday, July 31, 2008
Romania’s state-owned power grid Electrica SA has received offers from two foreign companies that plan to build hydropower plants of at least 500 MW in Romania.Electrica did not reveal the names of the two foreign companies that plan to invest in Romania.Electrica reported a preliminary gross profit of RON1.481 billion, up ten times against RON141 million in the same period a year earlier, driven largely by the privatization of Electrica Muntenia Sud.Electrica currently owns ...
Rompetrol to invest 340 million dollars in strategic development this year
Thursday, July 31, 2008
Rompetrol Group is to invest 340 million dollars in strategic development this year, out of which 166 million dollars is to be placed in the refining and petrochemical operations, Company Vice Chairman Cosmin Cocean told a press conference on Thursday.'Investments in strategic development include also such injections in environment protection, which imply first a more efficient production process. Investments in the strategic development of the group are to reach 600 million ...
Romania exports 2.2 million MWh of energy January through April
Thursday, July 31, 2008
The quantity of electric power exported by Romania January through April this year totalled 2.22 million MWh, that is an increase in the quantity exported by 1 million MWh on the same interval in 2007, according to the data centralized by the National Regulatory Authority in the field of Energy.Romania imported 260,000 MWh of energy in the same interval, that is a growth in the import by 10,000 MWh on the same period a year ago.Romania produced 22.67 million MWh of ...
Romania’s Rompetrol Sues Govt For Lower CO2 Emission Quota
Thursday, July 31, 2008
Romania’s second-largest oil company, Rompetrol Group NV sued the Government for assigning an insufficient quota of carbon dioxide, or CO2, emissions, to its Petromidia refinery, compared with the plant’s refining capacity, Rompetrol said Thursday.The first trial date was set for September 11."In 2007, Petromidia was assigned a quota of 760,000 tons of CO2 for an annual refining capacity of 3.5 millions of tons of crude oil, while Petrobrazi (the refining unit of Romania’s largest ...
Romanian Oil Co Petrom Mulls Producing Electric Power From Renewable Sources
Thursday, July 31, 2008
Romania’s largest vertically integrated oil company Petrom (SNP.RO) and OMV Future Energy Fund will analyze some projects on producing electric power from renewable sources and on making investments for higher electric power efficiency, Petrom said in a statement sent to the Bucharest Bourse WednesdThe targeted projects require over EUR2.3 million investments between 2008 and 2009, the statement also read.The projects refer to the production of electric power using depleted oil and ...
Romanian Petrom Deems Gas Use More Convenient For Electric Power Production
Thursday, July 31, 2008
Romania’s largest vertically integrated oil company Petrom (SNP.RO) considers the 1.2 billion cubic meters of gas from own output to be more appropriate for the electric power production rather than for its further supply on the market, Petrom’s CEO Mariana Gheorghe said .Petrom said the gas should target the future 860-megawatts power plant at Brazi, near the capital city Bucharest. The power plant in Brazi will be built by a consortium made up of General Electric and Greek ...
Cheap energy supplied by Hidroelectrica contribued to maintaining electricity fees
Thursday, July 31, 2008
The 50 percent increase in the quantity of cheap energy supplied by Hidroelectrica in the first half of the year contributed to maintaining the electricity price constant, Economy and Finance Minister Varujan Vosganian said on Monday at the Bucharest Stock Exchange (BVB).'From April 2007 till June 2008 the price of electricity remained unchanged, given that the price of pitcoal and natural gas went up and the price on the international markets increased by 44 percent,' Vosganian ...
CEZ Says Construction Of Romanian Nukes 3, 4 To Be Delayed By 1-Year
Thursday, July 31, 2008
The construction of the nuclear reactors 3 and 4 at Cernavoda nuclear power plant will be finalized with at least one-year delay, on Romanian Government failing to officially notify Czech power group CEZ AS about its decision to increase nuclear energy company Nuclearelectrica stake in the project."The Government did not get in touch with us yet. The project will be delayed by one year, talks will restart, the final draft of the project should be approved by the present or future ...
Wind 'can produce over 25% of EU electricity by 2030
Thursday, July 31, 2008
Wind energy could easily provide for more than one fourth of the EU's electricity by 2030 provided that wind farms are better connected to existing electricity grids and that a new grid to exploit the offshore wind industry is built, according to a stakeholder action plan detailing research and political priorities for the sector. "In 2030, wind energy will be a major modern energy source; reliable and cost-competitive in terms of cost per kWh," predicts the European Wind Energy Technology ...
InterAgro the main supplier of gas for large consumers
Thursday, July 31, 2008
InterAgro, company owned by the businessman Ioan Niculae has become the leader on the free market of domestic suppliers of gas in the month of April, leaving behind the most important actor Romgaz, the monthly report of the Romanian Energy Regulatory Authority (ANRE) showed. Niculae’s company got on the first place with a share of 24.57% in April, while Romgaz, on the second place got only 19.13% share, according to the ANRE report for April. « We started to buy gas directly from the ...
Government to approve annual mandatory quota for green certificates
Thursday, July 31, 2008
In Romania there will be used a new system for annual mandatory quota of green certificates combined with the system of trading green certificates for the promotion of electricity production from renewable sources of energy, according to a government press release published last Thursday.The executive approved, by means of a decision, the system of promoting electricity production from renewable sources of energy as well as the means of implementing the support scheme of its production by ...
Romania, Austria and Hungary could sign a Memorandum for the regional energy stock exchange
Thursday, July 17, 2008
The authorities for the regulation of electrical energy, coordinators of energy systems and electrical energy stock exchange in Austria, Romania and Hungary could sign a memorandum of agreement to be the starting point in a regional energy stock exchange. According to MTI news, quoted by Rador, the statement was made by Gabor Szorenyi, manager in the Hungarian authority for energy regulation. The source mentioned that in Hungary there is no electrical energy stock exchange but the ...
CEZ: investment in reactor 3 and 4 Cernavoda is overvalued
Thursday, July 17, 2008
CEZ with activities in the domain of energy considers that the investment of 4 billion euros, announced by the government for the construction of unit 3 and 4 Cernaovda is overvalued. Adrian Borotea, CEZ Romania corporate affairs manager stated on Wednesday that he did not believe there could be an economic justification for doubling the money necessary for the construction of the reactors.« I don’t think this sum is justifiable and it is unlikely to be doubled overnight » Adrian Borotea ...
Vosganian : We hope that tradings for reactor 3 and 4 in Cernavoda start this year
Thursday, July 17, 2008
The minister of economy and finances, Varujan Vosganian has recently stated that he hoped the tradings for reactor 3 and 4 Cernavoda to start this year and to finalise negotiations with the six investors. According to the data offered by the ministry of economy and finances (MEF) Nuclearelectrica and the six investors met the minister before the Government decision of 24 June 2008 including the new conditions for the construction of reactor 3 and 4 in Cernavoda.At the same time, the ...
ABN Amro had tradings with 2 million EU greenhouse gas emissions allowances
Thursday, July 17, 2008
ABN Amro is the only Romanian bank to trade EU greenhouse gas emission allowances (EUA) and since March they have traded 2 million allowances for the Romanian companies, the bank treasurer Adrian Dragan said. « The Romanian operators do not know what to do with these certificates, but, according to the data on the market, the number of tradings will grow. We expect that the first ones who are interested to be the strong operators who have big sums and important assets on the market. They ...