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Energy & Environment
CEZ will have 15% of the joint company to build unit 3 and 4
Thursday, March 13, 2008
The Czech energy group CEZ will acquire 15% of the joint venture to build unit 3 and 4 of the Nuclear Energy Power Station (CNE) Cernavoda, including Societatea Nationala Nuclearelectrica (SNN) with a total investment of 2.3 billion euro, according to the Czech press agency Euro Online, quoted by Thomson Financial. The joint venture will build two nuclear reactors with a power of 720 MW in Cernavoda, by 2015. Electrabel, ENEL and RWE Power will buy shares of 15% while the Spanish company ...
Econ Min Says Gas Prices Not Much Up
Thursday, March 13, 2008
Romania’s Economy and Finance Minister Varujan Vosganian said Tuesday that the gas prices will not report “spectacular increases”, despite the higher international prices."We shouldn’t launch messages of panic for population", Vosganian said. The authorities last increased household gas prices by 8.5% on average on February 1 due to higher imported natural gas prices.E.ON Gaz Romania said in a statement Tuesday that the prices for gas delivered to population should grow by 12% on April 1, ...
Contract worth €30 mln for Siemens and Petrom
Thursday, March 13, 2008
Electric solutions and automation supplier Siemens is involved in the servicing and maintenance of the Petrobrazi refinery, owned by the largest Romanian company, Petrom, based on a contract worth some €10 million a year for a minimum of three years.The General Manager for corporate development at Siemens SRL, Johann Raunig, said that the contract was signed in December 2007. Petrobrazi is one the largest refineries in Romania. “We are interested in signing similar contracts with other ...
Solana to sound alarm over coming climate conflicts
Thursday, March 13, 2008
Europe must prepare for increased competition over dwindling resources, waves of climate change refugees and energy wars, warns a new report to be presented to European leaders during the 13-14 March Spring European Council."Climate change is already having a profound impact on international security," according to EU foreign policy chief Javier Solana, who will present the report in Brussels on Thursday (13 March).Solana points "reductions of arable land, widespread shortages of water, ...
Project for the unification of gas network in eastern Europe to be discussed this month in Bucharest
Thursday, March 6, 2008
The Romanian gas transporter Transgaz Medias together with Natural Gas Transmission (NGT), branch of MOL will discuss in March, in Bucharest the development strategy for a regional network for gas transport in central and south-east Europe. The transport system of New Europe (NETS) as the project is called, involves the unification of natural gas transport networks. The meeting of specialists in the region will take place in Bucharest between 13 and 14 March, NGT and Transgaz announced, in ...
Petrom, Rompetrol, MOL and Lukoil plan roadside gas stations along A2
Thursday, March 6, 2008
Petrom, Rompetrol, Lukoil and MOL are all interested in participating in the land auction for the sites of the future gas stations along the A2 Bucharest - Cernavoda highway. The Transportation Ministry was supposed to transmit on last Thursday to the Electronic Public Procurement System the bid notice for the lease of the sites; the first stations will be set in place by mid-June, said director general of the Romanian National Highways and National Roads Company (CNADNR) Mihai Grecu. 'We ...
Second largest Stock Exchange magnate, Dafora owner, holds 76 mln euros worth stock
Thursday, March 6, 2008
With the largest number of shares held on the Stock Exchange, at least 76 million euros worth, businessman Gheorghe Calburean is the second biggest private investor on the domestic capital market, after Ovidiu Tender (more than 100 million euros).The most important company held by Calburean is Dafora Medias, a former Romgaz branch, the 55.6 percent package held directly and indirectly (through Dafora Group) having a market value of some 57 million euros. 'Now, being present on the Stock ...
Austrian company takes over Carom
Thursday, March 6, 2008
Austrian Energy Bio Chemicals has won the tender for the sale of Carom company of Onesti, the sole synthetic rubber producer in Romania, on a RON 77.894 million (some 21.1 million euros) bid, almost RON 29 million more then the starting price. Bulgarian Energetics, another bidder, offered RON 77.4 million. The tender was carried out in 58 bidding steps of RON 439,000 each. After various failed privatisation attempts and media scandals involving controversial businessmen Ovidiu Tender, ...
South Stream needs the approval of both Romania and Bulgaria
Thursday, March 6, 2008
Russian President Vladimir Putin and Hungariam PM Ferenc Gyurczany set up recently preliminary stage to create the South Stream pipeline aimed at linking Russia with Europe through the Black Sea corridor. Hungary will create a joint enterprise with Gazprom to build its pipeline segment. However, the project might face difficulties. The problem is that the marine segment passed by the pipeline hits Ukraine and Romania's economic areas. Considering the tense relation between Russia and the two ...
Romanian Food Assoc Warn Biofuel Prod Affects Food Sector
Thursday, March 6, 2008
Romanian associations of companies operating in food industry ask European Commission to "carefully" consider the encouraging of biofuel sector development as it requires large quantities of grains and oil plants, to the detriment of the food sector. Romanian producers say the development of biofuel output triggers a high demand of oil plants and consequently, leads to higher prices.Romanian Agriculture Ministry said it supports subsidies for biofuel crops, considering them as incentives for ...
Transgaz rating - Standard&Poor's raises long-term corporate credit rating for Romanian gas operator
Thursday, March 6, 2008
Rating company Standard & Poor's said it raised the long-term corporate credit rating of Romania-based natural gas transmission monopoly Transgaz Medias to 'BBB-' from 'BB+' with a negative outlook, after the company improved its financial profile. The upgrade reflects the increased visibility and amount of operating cash flow following a significant tariff increase and the finalization of tariffs for the regulatory period through June 30, 2012, the company said in a release. The rating on ...
Energy ministers agree to disagree on liberalisation
Thursday, March 6, 2008
Energy ministers from the 27 EU member states held a "lively discussion" on the Commission's controversial proposal to split up energy firms, agreeing only to send the matter back to diplomats in view of a deal in June.The discussion, held over lunch on Thursday (28 February), gave rise to a head-on confrontation between proponents of full 'ownership unbundling' and countries opposed to the Commission's proposal. Under the EU executive's plan, vertically-integrated energy giants, such as ...
E.ON surprise grid offer bolsters EU liberalisation hopes
Thursday, March 6, 2008
The European Commission has won an important victory in its crusade against former energy monopolies when German energy giant E.ON offered to sell-off its high voltage electricity grid to settle ongoing EU antitrust inquiries. In a statement on Thursday (28 February), E.ON said it "proposes to commit to sell its electricity transmission system network to an operator which would have no interest in the electricity generation andor supply businesses".The surprise offer would effectively ...
Romania implements 90 pc of nuclear safety international standards
Thursday, March 6, 2008
Romania took over 90 percent of the current requirements in the field of nuclear safety issued by the International Atomic Energy Agency (IAEA), as a holder of the construction permit for the CANDU type nuclear power stations, announced on Monday Lucian Goicea, director with the National Commission for the Control of Nuclear Activities (CNCAN), on the occasion of a specialized conference. The first national regulation of quality insurance, issued by Romania in 1978, contains 14 of the 18 ...
Petrom will buy energy from Craiova worth an annual €116 mln
Thursday, March 6, 2008
The state-owned electricity and thermal heating producer, Complexul Energetic Craiova (CE), won the auctions to supply electricity to Romania’s largest company, Petrom, in a contract worth some €116 million annually.The state producer overbid European giants, such as Italy’s Enel, the Czech Republic’s CEZ, and Germany’s E.ON, losing to the Romanian producer in the auction organized by Petrom. “Craiova will deliver some 1.85 TWh to Petrom, 1.15 TWh for the exploration and production division, ...
Hidroelectrica sold 16 micro hydropower stations for 11M euros
Thursday, March 6, 2008
Hidroelectrica sold, at open auction, last week, 16 micro hydropower stations, for 11 million euros (40.7 million lei), twice more than the start price, a press release of Hidroelectrica electricity maker says. The stations, whose generating power totals 5.036MW, were bought by companies such as Wienstrom Austria, Romenergo and the consortium composed of H&M Co. Negresti Oas and Lescaci Negresti Oas. During its EU accession talks, Romania promised to privatize all its 150 state-run micro ...
New players expected to storm Romania's oil market in 2008
Thursday, March 6, 2008
New players are expected to take Romania's oil market by storm in 2008.According to sources with Romania's oil market , this year might witness the sale of or at least the beginning of sale talks for Rafo Onesti refinery, currently owned by CALDER-A International BV, which is seemingly held by Russian investors. The majority shareholder in Rafo has recently decided to open the refinery for 24 months as from February 20, 2008. The Rafo management has also called on the shareholders ...
Feasibility study for Romania-Turkey high-voltage undersea cable to be launched in June
Thursday, March 6, 2008
Feasibility study for the undersea cable between Romania and Turkey is to be launched in June, following that up to this year-end the first reports on the starting of the respective construction will be ready, Transelectrica development director Razvan Purdila told Rompres Agency.'In the upcoming days we are to receive from the Government of Sweden the agreement on the grant designed to cover half of the feasibility study costs, so that this month we could start selection procedures of the ...
Distrigaz Sud to become power supplier
Thursday, March 6, 2008
Natural gas distributor Distrigaz Sud, controlled by Gaz de France, has filed an application with the Romanian Energy Regulatory Authority (ANRE) to become an energy supplier. Company officials told Business Standard this is the first step Distrigaz Sud is making to provide electricity to their clients. Besides supplying natural gas, Gaz de France also sells electricity in countries in which it operates. “We could buy energy or we could invest in energy production, which we are trying to do. ...
Thermal Pwr Consumption In Romania Down By Over 25% In Last Three Yrs
Thursday, March 6, 2008
The average thermal power consumption in Romania went down by over 25% during the last three years, according to the Romanian Association of Thermal Power Metering Services Providers (ANPSC).Thus, if in 2003, the annual average consumption per apartment reached 10.84 gigacalories, the consumption lowered to eight gigacalories in 2007. The Association Tuesday held talks with the media to provide correct information on the individual thermal power metering system and find solutions for thermal ...