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Energy & Environment
Transelectrica To Select Co For Romania, Serbia’s Electric Pwr Sys Connection
Thursday, June 12, 2008
Romania’s state-owned power grid operator Transelectrica (TEL.RO) will select through bid in July the company in charge with drafting the papers on the interconnection of Romania and Serbia’s electric power systems.The company selected through bid will draft in the next 18 months the design papers to get the licenses and agreements on building an aerial electrical line of 400 kV between Romania and Serbia.The paperwork will worth 5.7 million lei (EUR1=RON 3.6422).Transelectrica ...
Romania’s Petrom Mulls Gas Storage Facilities Ahead Of Nabucco Construction
Thursday, June 12, 2008
Romania’s dominant oil company Petrom (SNP.RO) is considering building a two billion cubic meters gas storage facility for the gas transported through Nabucco pipeline, Petrom’s CEO Mariana Gheorghe said Tuesday."We are analyzing the possibility to build gas storage facilities for transit, ahead of the construction of Nabucco gas pipeline," Gheorghe told a press conference.Petrom, which does not have any storage facilities at the moment, may consider partnerships with Romanian and ...
Transelectrica contemplates listing another 10 pct stake in spring 2009
Thursday, June 12, 2008
National electricity operator Transelectrica might make up to 22 pct of its stake available for Stock Exchange trades, with a 10 pct stake being possibly listed in spring next year.'We have the support of the majority shareholders to increase the listed stake, but it all depends on the market. If an opportunity window opens in fall, we might hit the market in spring 2009 with a 10 pct stake,' Razvan Purdila, director of Transelectrica's business development department told Business ...
ANRE: Transelectrica, comissioned with installing of 2,600 MW wind power
Thursday, June 12, 2008
Transelectrica has so far received requests to connect to the electricity transport network some power producing capacities from wind power sources, totalling 2,600 MW, projects in an advanced implementation stage, said general director of the Electricity Market Department with the National Authority for Energy Regulation (ANRE), Dan Ionescu. According to him, there is a special interest from companies in the field to install wind power plants with total power of 8,000 ...
Romania May Import Gas Directly From Russia In 8 Yrs – Econ Ministry
Thursday, June 12, 2008
Romania might import gas directly from Russian natural gas monopoly OAO Gazprom (GSPBEX.RS) in about eight years, when the local gas production diminishes and the imported gas supply reaches 50% of the country’s consumption, a director in the Ministry of Economy and Finance said Tuesday.Romania, via its gas pipeline operator Transgaz (TGN.RO), plans to connect the local gas systems with the ones in the Republic of Moldova, Hungary, Bulgaria, Serbia and Ukraine.Romania’s national ...
Romanian Parliament May Annul Social Gas Fund
Thursday, June 12, 2008
The Romanian Parliament may annul the social gas fund established earlier this year based on an agreement with Romania’s gas producer Romgaz Medias and the country’s largest vertically integrated oil company Petrom, aiming to provide financial support to 850,000 families for paying gas bills.The Government passed in February an emergency ordinance setting up a social gas fund to help low-income persons pay gas bills, based on an agreement with Romgaz Medias and Petrom, which contribute ...
Wirom Romania Calls For 25% Consumer Gas Price Hike In ’08
Thursday, June 12, 2008
Romania should increase natural gas prices by 25% this year, as they are too low and bring losses to gas suppliers, but the authorities are not willing to take this step because this is an electoral year, Wirom Gas Romania said Tuesday.Wirom registers losses when selling natural gas in Romania, because of the low prices established by the country’s energy watchdog, Wirom’s executive financial manager Illo Vogelhaupt said.Gas distributors E.ON Gaz Romania, the local unit of ...
Top ten oil companies post turnover in excess of 10bn euros, in 2007
Thursday, June 12, 2008
The top ten oil companies on the Romanian market reached turnover worth above 10bn euros last year. The ten oil companies are Petrom SA (the largest Romanian company, with Austrian OMV Group as the majority shareholder), with 3.68 bn euros in turnover, Rompetrol Rafinare, Rompetrol Downstream, Lukoil Romania, Petrotel Lukoil, MOL Romania, OMV Romania, Rafo Onesti, Agip Romania and Conpet.Despite turnovers remaining at a relatively stable level, the top 10 players on the market's ...
Jeremy Rifkin: Use everything you can to increase economy
Thursday, June 12, 2008
President of the U.S. Foundation for Economic Trends and advisor to the European Commission, Jeremy Rifkin, advised on Wednesday Romania to use everything possible, wind, sun, waste to to increase economy. ‘'Use your wind, sun, forests, waters and waste, use everything and if you take the correct decision you'll create an economic effect of multiplication and you'll develop your own economy,'' was the advise of Jeremy Rifkin. According to him, Romania will have to have to ...
Vega Rompetrol reports Q1 2008 losses of RON 10.6 million
Thursday, June 12, 2008
The Vega refinery operated by Rompetrol Bucharest has reported Q1 2008 losses of RON 10.6 million, compared with a Q1 2007 gross profit of RON 3.638 million, according to a financial report submitted to the Bucharest Stock Exchange (BVB).The company, listed on the RASDAQ electronic exchange of BVB, reported total revenues of RON 25.74 million, almost five times lower than the Q1 2007 figures, while total spending declined from RON 113.38 to RON 36.35 million.The net turnover also ...
IAEA: Cernavoda plant complies with radiation protection requirements
Thursday, June 12, 2008
The Cernavoda nuclear power plant (south-east of Bucharest) enforces and observes the radiation protection requirements of national and international law, operating under conditions of maximum safety for the public, staff and environment, reads a report presented at the end of an International Atomic Energy Agency (IAEA) expert mission to Romania. The IAEA mission took place at the invitation of SN Nuclearelectrica SA, between June 2 - 6, and was mainly aimed at assessing the way ...
Merkel and Sarkozy 'breakthrough' on car emissions
Thursday, June 12, 2008
Meeting for their annual bilateral summit on 9 June, the German Chancellor and French President finally smoothed over a heated dispute regarding European Commission plans to cap CO2 emissions from new cars. But green groups say the deal is a shamIn a joint statement , the two leaders gave their backing to EU plans to cut emissions of CO2 from new vehicles from current levels of around 160gkm to an average of 120gkm by 2012.While remaining vague over the details, Merkel and Sarkozy said ...
EU environment ministers at odds over climate plans
Thursday, June 12, 2008
Member states' positions on proposals designed to cut EU CO2 emissions by 20% by 2020 continue to diverge significantly as the EU enters into what could be one of the busiest and potentially divisive negotiation periods in its history. Environment ministers from the 27 EU member states met in Luxembourg last Thursday (5 June) to debate the Commission's package of climate and energy proposals.Discussions focused in particular on how member states, who differ significantly in terms ...
US expert: Nabucco and South Stream can not coexist
Thursday, June 5, 2008
The competing natural gas pipeline projects - Nabucco (avoiding Russia) and Rusia South Stream (initiated by Russia, through Gazprom) - are not compatible, US expert Zeyno Baran declared, according to AFP. The first one to come into function will eliminate the other, since they serve more or less the same markets, the researcher at the Hudson Institute argued.The two consortiums aim at launching the pipelines in 2013, for a transit of 30 billion cubic meters of gas per year. Some ...
Romania’s Rompetrol Gas Takes Over MoldInterGaz Moldova
Thursday, June 5, 2008
Rompetrol Gas, the liquefied petroleum gas unit of Romania's second-largest oil company Rompetrol Group NV, bought the main stake in LPG importer and distributor MoldInterGaz Moldova from the Moldova Republic, the company said Wednesday. Rompetrol is already present in Moldova Republic, as it distributes fuel on the local market. MoldInterGaz owns autogas retail distribution stations, some gas cylinders selling units, a LPG bottling station and storage capacities in Ungheni and Tirnova ...
Norwegian company Statkraft wants to buy big hydropower stations in Romania
Thursday, June 5, 2008
The Statkraft company follows the achievement of some investments in the production of electricity on the market in south-eastern Europe, by analyzing the possibility to acquire big units for the generation of energy from hydrological sources in Romania, the director of the trading division Stefan-Jorg Gobel announced on Wednesday, in an international conference “ Trading Energy – Central and South –Eastern Europe”. « We analyse the possibilities to invest on the energy market in the ...
Arcelor Mittal Galati will invest over 36 million dollars in environment programmes in 2008
Thursday, June 5, 2008
Arcelor Mittal Galati has finalised programs of 11.96 million dollars which are part of the action plan for complying with environment norms and other five projects, worth 24.5 million dollars are underway, the ArcelorMittal Galati company announced. The company started this year projects worth 24.5 million dollars, the largest investment of 19 million dollars being made in Otelaria nr.1 for gas gathering and dust emissions. Other three million dollars will be invested for the modernization ...
Eurostat: food prices in Romania grew by 12.4% in April 2007 - April 2008
Tuesday, June 3, 2008
Food prices in Romania grew steadily over the past year, reaching a plus of 12.4%, the latest Eurostat report published on Monday reads. Bulgarians felt a severe increase of 25.4% registering the highest score in the European Union while the lowest increase was registered in Poland with only 3.4%. However, Romania is classed first when it comes to the weight of the food in a household expense: 34.5% as compared to 14.6%, the Union's average. The report shows that the inflation rate ...
LukOil plans to open premium gas stations
Thursday, May 22, 2008
Lukoil Romania, one of the top three players on the local oil distribution market, plans to build premium gas stations, most likely to be called LukOil Lux, said sources inside the company. LukOil Romania is currently running a feasibility study for this project. “We do not yet know the number of premium gas stations which we would own on the Romanian market. We only know that such a project would theoretically increase the number of clients,” said the sources. The company owns a ...
E.ON: We understand there are elections, but electricity tariffs should be raised
Thursday, May 22, 2008
The price of the electric power currently paid by the population should be raised by 10 percent from July 1, E.ON Energie Romania chairman Gunther Schubert said.'It is not about putting pressure on the authorities, as we understand there elections, but we need to take into account also the fact that the growth in wages will not continue the same pace as until now, with this pace having probably been able to help the people bear more easily the increase in the tariffs by 5 percent we proposed ...