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Energy & Environment
Solar energy, cooperation field with South Africa
Thursday, February 14, 2008
Solar energy will be a top field of the future cooperation between Romania and South Africa, said Duduzile M.Khoza, Ambassador of South Africa who discussed with representatives of the Chamber of Commerce and Industry of Bucharest (CCIB). Due to open in Bucharest in the second half of March is the diplomatic mission of the Republic of South Africa, streamlining in this way the visa regime and contributing to the development of trade and economic ties between the two countries, of the ...
Armax Gaz wants to produce electricity
Thursday, February 14, 2008
Maker of equipment for the natural gas industry Armax Gaz Medias, center of Romania, intends to become, in 2010, at the latest, a producer of electricity, general manager of the company Mircea Vescan told Business Standard.'We are interested both to participate in the re-engineering of thermal energy sub-stations, for efficient co-generation, and to buy two up to four micro-hydro-power stations with a total capacity of up to 10 MW,' Vescan said. According to him, in 2008 and 2009, the ...
Gazprom interested in joining Nabucco project
Thursday, February 14, 2008
Gazprom energy group is looking for alternative pipelines to use in order to transit its gas towards Europe, as relations with Ukrain worsen and it seeks to retain the one gas provider for Europe. Live at Eho Moskvi radio on Monday, Gazprom spokesperson Sergey Kuprianov implied that Gazprom might participate in the Nabucco project developed by several SE and Central European countries including Romania. To dismiss such a project that would avoid Russia, Moscow has supported the version of ...
Romania's AVAS Asks Petrom To Annul Spin-Off Deal
Thursday, February 14, 2008
Romania’s privatization agency AVAS, which owns 20.6% in oil and gas company Petrom (SNP.RO), asked the company’s majority stockholder OMV AG (OMV.VI) to annul the Petromservice takeover deal, fueled by the high acquisition price. AVAS, which owns 20.6% in oil and gas company Petrom (SNP.RO), filed a legal complaint Friday against a shareholders’ decision to increase the company’s 2007 investment budget. AVAS asked for a partial annulment of the shareholders’ decision to revise the 2007 ...
Eviva To Produce Wind Power In Romania In ‘08; Eyes Acquisitions
Thursday, February 14, 2008
Eviva Energy, owned by Portuguese energy group Martifer, plans to build this year wind turbines with a total power capacity of 50 MW in Romania, that will start producing energy in the last quarter of the year, the company said this Tuesday. The company also eyes acquisitions on the Romanian market. Martifer operates in the Czech Republic, Germany, Poland, Portugal, Slovakia, and Spain and Romania, it owns a biofuel plant and operates on the real estate and constructions market.The group ...
Nuclearelectrica will be listed on the stock exchange by the end of the year
Thursday, February 14, 2008
The Nuclearelectrica company will be listed on the stock exchange Bucuresti by the end of the year, the general manager of Nuclearelectrica Teodor Chirica said. In March, the shareholders will approve the listing request to the bank, and in MAY will select the brokerage company to offer the primary public bid. The Nuclearelectrica manages the nuclear power station in Cernavoda. “ The effective listing of Nuclearelectrica on the BVB is to take place at the end of the year. At present, an ...
Romanian-Dutch projects for increase in energy efficiency
Thursday, February 14, 2008
Romania and the Netherlands want to develop common projects for the increase in energy efficiency, with European financing, representatives of Romanian Association for Energy Conservation (ARCE) announced on Wednesday in a press conference.ARCE and the Agency for Innovation and Sustainable Development with the Dutch Economic Affairs Ministry - SenterNovem have signed on Wednesday an agreement memorandum on energy, for the increase in energy efficiency in both states.'We have signed a ...
Romanian Gas Prod Romgaz Should Be Closed Down – Patriciu
Thursday, February 14, 2008
Businessman Dinu Patriciu, president of Romania’s oil company Rompetrol, said Wednesday that Romgaz Medias, one of Romania’s largest gas producers, should be closed down as it has been spending the public money for 18 years, and is partially responsible for the natural gas price hike.Patriciu said the Romanian state should seriously consider closing down the company and putting up for sale its production licenses as the company is partially responsible for the current natural gas price hike ...
Energy Holding loses contract with Oltchim
Thursday, February 7, 2008
Energy Holding, the largest private energy trader on the market, has recently lost the energy supply contract with chemical plant Oltchim, estimated at 65 million euros, after it was replaced by state-owned Electrica, the Ziarul Financiar reports . Electrica managed to buy energy from the Romanian Commodities Exchange (BRM) at a price of 150 RON per MWh at the end of last year, while trading prices on the energy stock exchange OPCOM stood at around 180 RON per MWh. The contract entails the ...
Environmental investments, a 12 bln euro credit market
Thursday, February 7, 2008
According to estimations by the National Centre for Sustainable Development (CNDD) - the agency responsible for the implementation of the UN Development Program - infrastructure projects, and particularly those addressing the environmental sector, need some 12 billion euro in lending in the coming ten years.According to CNDD estimations, the sewage and potable water network needs 15 billion euro in investments over the next ten years, whereas the sector can assimilate a maximum of 3.8 ...
Romania has a privileged position in terms of energy, says ambassador Mancini
Thursday, February 7, 2008
Romania is enjoying a privileged position on the market for energy production that very few European Union member states enjoy, Italian ambassador in Bucharest Daniele Mancini told a seminar on Wednesday on energy issues organised by Unimpresa Romania.'Romania has an excellent position as far as energy generated from fossil, nuclear and renewable resources is concerned, all which represent the past, the present and the future. Consequently, it should fully enjoy this advantage, given also ...
Privatisation of Electrica Muntenia Sud to be finalized soon
Thursday, February 7, 2008
The purchase of Electrica Muntenia Sud by Italian Group Enel will be finalized soon, said in a press conference the President of Enel Romania Matteo Codazzi. He said that Enel will invest over the next years 1 billion euros to upgrade the Bucharest distribution network and another billion euros for the Banat and Dobrogea networks.'Italy was facing the same problem 10 years ago, with frequent energy outages because of the old networks. The network quality in Italy is at European ...
Romania to pay special attention to wetlands in 2008
Thursday, February 7, 2008
The wetlands in Romania, which cover 616,627 ha, will be paid special attention to by the environment bodies, which will try to inform the people of the relationship between wetlands and human health, reads a release of the Ministry of the Environment and Sustainable Development (MMDD).The National Agency for Environment Protection, the regional and county agencies for environment protection as well as the administration of parks, where the wetlands as the habitat for the various species of ...
Petroleum market to reach 6.8 billion euros in 2008
Thursday, February 7, 2008
Petroleum product consumption is set to rise by around 7 percent this year against 2007 on rising car fleet and expansion plans announced by the main players. Translated into money, the difference from last year amounts to almost 450 million euros, the Ziarul financiar daily reports . Another factor with a strong impact on the value of this market is last year's petroleum price surge, which is expected to be really felt as late as this year. In terms of trends, markets switch on diesel, ...
Hidroconstructia counting on 2008 business turnover of 225 million euros
Thursday, February 7, 2008
Hidroconstructia, the largest water engineering company of Romania, is expecting a 3-percent rise in its 2008 business turnover, to 225 million euros, and is planning to keep the turnover in excess of 200 million euros in the years ahead.Hidroconstructia Director Romeo Bogdanovici says the company is currently involved in very many projects and it is contemplating concluding more contracts in 2008. In December 2007, the company was extended a 60-million-euro credit line by a banking ...
Petrom hires foreign company to investigate Petrobrazi refinery fire
Thursday, February 7, 2008
Oil Company Petrom hired a foreign company specialised in refinery fire, to look into the causes of a fire that broke out at Petrobrazi refinery (southern Romania) early on Tuesday, Petrom communication director Dan Pazara told Rompres.'The company's experts are on their way to Romania and are to look into the situation, so as to find the cause for the fire outbreak. While we cannot estimate the damages yet, we can say they seem minor, at a first glance', Pazara announced.The fire broke out ...
Transgaz sees profit down 6 percent in 2007
Thursday, February 7, 2008
Transgaz Medias natural gas transporter's net profit decreased 5.77 percent in 2007, down to 224.34 million lei, on the background of expense increase with 14.15 percent (794.46 million lei), while revenues (1.064 billion lei) advanced only 8.34 percent, the company informs in a release.The lower profit was influenced by the delayed application of the new tariffs for transport, from July 1 to October 1.Transgaz' initial public offering, the largest in Bucharest Stock Exchange's history, was ...
Economy Minister: New partners to Nabucco project must be agreed by all sides
Thursday, February 7, 2008
The invitation addressed to Gaz de France or other company to participate in the Nabucco project is a decision to be agreed upon by the entire consortium, said on Tuesday in Vienna the Romanian Minister of Economy and Finance Varujan Vosganian.'Romania is open to developing the Nabucco consortium, but any decision must be taken together,' said Vosganian, while signing the agreement for the adoption of German company RWE as 6th partner.The Romanian official explained that the statements of ...
Romania must stay concentrated on Nabucco, a State Department official said
Thursday, February 7, 2008
Matt Bryza, collaborator of the American Secretary of State Condoleezza Rice advises “ the Romanian friends” in an interview for NewsIn to stay concentrated on the Nabucco project, which he considers viable. According to his opinion, the Romanians should not panic because of the recent agreements signed by Russia with Bulgaria and Serbia, as they do not threaten the Nabucco project, but they are rather “ an offensive of public relations of Gaprom” Bryza advises the Romanians to go on with ...
South Stream and North Stream are not economically viable, but they are means of political pressure
Thursday, February 7, 2008
The two Russian projects South Stream and North Stream are “ political pipelines” through which Moscow wants to create pressure in the European countries, as they are not viable economically speaking, Alan Riley, consultant for energy issues with the European Parliament stated for NewsIn. “ The question that should be put in the case of South Stream and North Stream is where the gas comes from. At present, liquefied gas is cheaper than the one which will be extracted from Barents Sea, from ...