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Energy & Environment
The Dutch SHV Gas group comes on the Romanian market
Thursday, May 22, 2008
The Dutch group SHV Gas comes on the Romanian market by buying the Crimbo gas containers, which was owned by the FC Dinamo manager Cristi Borcea in a transaction worth 20 – 25 million euros, sources close to the negotiations stated. « The contract between SHV Gas ( the largest supplier of liquefied petroleum gas in the world) and Crimbo was signed on 18th April but in the following period the closing will made soon, meaning the Dutch will give the money to Borcea” the quoted sources said. ...
Possible revitalisation for Nabucco
Thursday, May 22, 2008
The president of Turkmenistan had recently talks with his Azerbaidjan counterpart during a visit which meant an improvement of the relations and could revitalize the Nabucco project regarding the construction of the natural gas pipeline to Europe. At a joint press conference, the host, president Ilham Aliyev stated that their opinions on this matter coincided. Romania is participant in the Nabucco project, but lately, it seemed that Nabucco had no chance after Russia had launched a rival ...
Banning cyanides will lead to important losses in the economy
Thursday, May 15, 2008
Banning cyanides in the mining industry will lead to important losses of investors and implicitly of money. Tens of companies interested in the exploration of mining ores in Romania will withdraw their investment offers if the states bans the technologies based on cyanide, which are used in the whole world. The draft law aims at Rosia Montana, but it could affect, indirectly, the whole mining industry. With or without cyanide ? Irrespective of the answer, the losses are important. The ...
KMG to decide in 3 months if it will take over Rompetrol
Thursday, May 15, 2008
KazMunaiGas, majority shareholder of Rompetrol, will decide in three months if it will up its participation in Rompetrol to 100 percent, after acquiring 75 percent of shares in August 2007 from businessman Dinu Patriciu.Uzakbai Karabalin, President of KazMunaiGas, said the group has the option to buy the remaining 25 percent of shares. Rompetrol officials did not comment on the information.Analysts indicate that there will be no fundamental change in strategy if KazMunaiGas ...
EU in quest to secure Middle East gas supplies
Thursday, May 15, 2008
The EU is keen to secure gas supplies for its flagship Nabucco pipeline from countries in the Mashreq region, which includes Iraq, Jordan and Syria. Meanwhile Russia's participation in Nabucco, which skirts Russian territory, has effectively been ruled out.EU Energy Commissioner Andris Piebalgs and External Relations Commissioner Benita Ferrero-Waldner ,on Monday, 5 May, met with representatives from Egypt, Syria, Iraq, Jordan, Lebanon and Turkey to discuss gas pipeline ...
Basescu at Wilton Park conference: Nabucco gas pipeline, priority of European energy policy
Thursday, May 15, 2008
President Traian Basescu said on Wednesday Romania backs as priority the implementation of the Nabucco and PEOP (Pan-European crude oil pipeline between Constanta and Trieste - the editor's note) projects.''In our opinion, the Nabucco gas pipeline is priority of the European energy policy. With the support of those involved in the project, it can ensure the diversification of the supply sources and routes. PEOP is another attractive project, because it offers a safe and direct ...
Romgaz to enter Poland and Slovakia
Thursday, May 8, 2008
Romania’s largest natural gas producer and supplier, Romgaz, is involved in ongoing talks with several companies to enter foreign markets. The first investments are to be made this year in Poland and Slovakia, sources within the company told news agency NewsIn. “Talks are very advanced for partnerships, so we can work in the two countries. Initially, Romgaz will only focus on exploitation abroad,” sources said. They added that one of the companies also has a partnership with Romgaz in ...
Romania's Petrom 1Q Net Profit Doubles To RON977M
Thursday, May 8, 2008
Romania’s largest vertically integrated oil company Petrom SA (SNP.RO) said Wednesday its first quarter net profit more than doubled to 977 million lei (EUR1=RON3.6506) from RON381 million a year earlier, on higher oil prices and positive restructuring results.The company, which is majority-owned by Austria's OMV AG (OMV.VI), posted RON3.72 billion in first-quarter turnover, up 35% from RON2.75 billion in the corresponding period in 2007 due to higher oil prices.“The strong results ...
Biofuels 'scapegoat' in food price row, says EU farm chief
Thursday, May 8, 2008
EU Agriculture Commissioner Mariann Fischer Boel has rejected allegations that EU policies to promote biofuels are to blame for rising food prices amid calls by the UN to "cut back significantly" on agrofuel support programmes."Those who see biofuels as the driving force behind recent food price increases have overlooked not just one elephant standing right in front of them, but two," she said, speaking at a conference on 6 May. According to Fischer Boel, the rising food demand and ...
Electrical energy resources went up by 10% over the first quarter of 2008
Thursday, May 8, 2008
Electrical energy resources went up over the first quarter by 10% against the same period of the previous year and primary energy resources went down by 2%against the first quarter of 2007, according to a press release of the National Institute of Statistics published on Wednesday. « Electrical energy resources over the first quarter 2008 were of 18,025.8 million KWh, up by 1638.7 million KWh ( by 10%) against the corresponding period of 2007. The increase in the electrical energy ...
Enel has become majority shareholder of Electrica Muntenia Sud
Thursday, May 1, 2008
On Friday, Enel took over a package of 50% of Electrica Muntenia Sud (EMS) shares for the sum of 395 million euros and became the majority shareholder of the Romanian company, the Italian company Enel announced in a press release. “ In the process of privatization of Electrica Muntenia Sud and according to the Privatisation Contract signed on 11 June 2007 between Enel S.p.A. (Enel) and the state-owned company Electrica SA, Enel acquired today ( Friday, 25 April 2008) from Electrica 50%of the ...
Gerhard Schroeder: Romania should negotiate gas price with Russia directly
Thursday, May 1, 2008
Romania could resolve the gas price only through direct discussions with Russia, the former German chancellor Gerhard Schroeder stated, in his present capacity as chairman of the board of shareholders of the Nord Stream company, owned by Gazprom – 51%. While on a “ discreet” visit to Romania, as international consultant of the Ringier press trust, which celebrated 175 years Gerhard Schroeder stated that the solution for a better price for Russian gas is direct negotiation with Russia. “ But ...
Romania could import gas – 70% in 10 years from Russia
Thursday, May 1, 2008
Romania could import natural gas – 70% in 10 years, as compared to a third at present, the Gaz de France CEO Jean Francois Cirelli stated in a press conference. He said that at present one third of the necessary gas of Romania comes from Russia. “ In 10 years’ time, the sum will grow to 70%”. He also stated that by 2030, 80% of the energy consumption will be made on oil, gas and coal. He also mentioned that Europe is a continent poor in energy, as they have only 1.5% of the oil reserve, 1% ...
Romgaz listing on the stock exchange postpones for 2009
Thursday, April 24, 2008
Romgaz listing on the Stock Exchange (BVB) that had to take place in 2008 was postponed for next year, as the process for listing has not started yet and will not be ready this year, official sources in the MEF informed. “ Romgaz will not be listed this year, as the listing process has not started yet. If the process started now, there would not be sufficient time to list it before the end of 2008. The only company for which the process started is Nuclearelectrica and we hope to have it ...
Romanian and Nigerian companies intend to build refineries in Africa
Thursday, April 24, 2008
The Nigerian company BSM International Petroleum Refinery &Petrochemicals intends to build together with its subsidiary in Constanta and other Romanian companies refineries and a chain of filling stations in Africa. According to the Leadership Nigeria magazine, the project will be undertaken by BSM International, BSM International Petroleum Refinery and Petrochemicals in collaboration with BSM Petroleum Refinery and Petrochemicals, Confind Campina and other Romanian companies and is ...
Romania's Nuclear Plant Shut Dn In Storm Aftermath
Thursday, April 24, 2008
Romania’s sole nuclear power plant Cernavoda shut down Tuesday evening after a powerful storm battered the southeastern region of the country and damaged power lines connecting the plant to the national power grid, the plant’s operator Nuclearelectrica said Wednesday in a statement. “There was no danger to the workers or people living near the plant and no harm to the environment,” the statement said. The plant’s two reactors will be turned on again by Thursday, Nuclearelectrica said. “The ...
Romanian Parliament OKs Expropriation Law For Mining Exploitation
Thursday, April 17, 2008
The Romanian Parliament adopted Tuesday a law on speeding up the expropriation of lands necessary for mining exploitation, aimed to hike coal production in order to provide resources to the National Energy System, the Ministry of Economy and Finance said Wednesday. The coal production increase was stipulated in Romania’s Energy Strategy. Representatives of the National Lignite Company said in March last year that coal production might be negatively affected by the delay in expropriating ...
CEZ Says Talks For Construction Of Romanian Nukes 3,4 Are Frozen
Thursday, April 17, 2008
The talks for building nuclear reactors three and four at Cernavoda nuclear power plant have been halted as the Romanian government has introduced new negotiations terms, Czech CEZ said Wednesday. But the Romanian government said the talks were not halted and that Nuclearelectrica is looking to increase its majority stake in the project. "The decision-making process is now frozen," country manager for CEZ Romania Jan Veskrna was quoted by Thomson Financial as saying. Alexandru Sandulescu, ...
IRE : The energy company designed by the government will create oligarchies
Thursday, April 17, 2008
The setup of the energy company designed by the government will lead to the apparition of an oligarhy in the energy sector, similarly in other areas of the economy, and the inclusion of Hidroelectrica in this structure would be a mistake, the Institute for the Study of the Placement and Use of energy resources considers. “ We don’t need oligarchies, as in other areas of the economy, do you build one now ?” the chairman of the National Institute for the Study of the Placement and Use of ...
EU adopts stricter air quality rules
Thursday, April 17, 2008
The EU Council of Ministers has endorsed a new directive setting binding EU-wide limits for fine particle emissions, which cause respiratory diseases thought to reduce European life expectancy by up to three years. The new EU air quality directive was approved on 14 April 2008, following an agreement reached by the Council and the Parliament at the end of 2007. The directive sets EU-wide limits on fine particle emissions (PM2.5) for the first time ever. These microscopic particles, ...