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Energy & Environment
Gazprom is interested in building natural gas storage units in Romania
Thursday, February 7, 2008
Gazprom is interested in building new natural gas storage units in Romania, as there were meetings and consultations between the Russian company and the Romanian companies in the field, according to the data sent by Gazprom. “ The building of natural gas storage facilities ( UGSF –underground gas storage facilities) on the Romanian territoriy is a very important element in the Russian-Romanian cooperation in the domain of gas. This will allow distribution to users of gas quantities ...
IEA refutes 'peak oil', points to lack of investment
Thursday, February 7, 2008
Insufficient investment, political instability and blocked access to key oil and gas reserves have distorted the global fossil fuel market and driven up prices, according to the International Energy Agency, which has downplayed concerns about imminent oil shortages.For many oil companies, buying oil on increasingly volatile and expensive global crude markets is less risky than investing in new extraction facilities, the International Energy Agency's (IEA) William Ramsay said on 31 January in ...
Eight EU states oppose unbundling, table 'third way'
Thursday, February 7, 2008
France, Germany and six other member states have submitted proposals outlining a 'third option' for energy liberalisation. The full document, seen by EurActiv, argues that the Commission's proposals to unbundle vertically-integrated energy firms will not achieve their desired effect in terms of more grid investments and lower energy prices.In its third liberalisation 'package' proposals unveiled on 19 September 2007, the Commission left member states with two options to complete the ...
Petrom willing to offer an annual 80 million euros to acquire energy
Thursday, January 24, 2008
Romania's largest company, Petrom, plans to allocate an annual 80 million euros to acquire 1.15 TWh (terrawatts per hour), according to a statement for Business Standard by sources on the energy market. Petrom is trying to obtain the best electricity price for its oil rigs and refineries, as the price continues to increase.The Energy Stock price for electricity is 48 euros per megawatt. Petrom will organize an auction to select a company to deliver 1.15 TWh annually to its production ...
Termoelectrica eyes over 10 mln lei in 2007 profit
Thursday, January 24, 2008
Commercial company Termoelectrica, the Romanian electricity and thermal power producer, eyes gross profit at 10.044 million lei in 2007, according to an Order of the Economy and Finances Ministry published in the Official Bulletin. According to the revised budget, Termoelectrica will record total revenues worth 769.949 million lei, while the 2007 expenditure will stand at 759.904 million lei. The amount of 10.044 million lei represents the money required to cover the losses made by he ...
Nuclearelectrica reports 9.4m lei profit last in 2007
Thursday, January 24, 2008
National company Nuclearelectrica estimates a profit of 9.404 million lei in 2007, according to an order issued by the Ministry of Economy and Finance published in the Official Gazette. The total revenues of the company stood at 895.601 million lei and total spending at 886.197 million lei, according to the rectified budget for 2007. Outstanding payments of the company stood last year at 202.859 million lei. The financing sources of investments totalled 868.401 million lei, of which 292.571 ...
Eurobarometer: Romanians, Greeks and Portuguese most worried about biodiversity
Thursday, January 24, 2008
Romanians, Greeks and Portuguese are among the most worried about losing biodiversity, a problem that actually worries 90 percent of the Europeans, reads a Eurobarometer on the attitude of the European citizens toward biodiversity, made public in Brussels on Friday. The poll emphasizes the European concerns with the extinction of endangered and threatened plants and wildlife, natural habitat and ecosystems. The Eurobarometer also reveals that the Europeans are worried about the fall in ...
Romania to ban plastic shopping bags
Thursday, January 24, 2008
Environment Minister Attila Korodi announced on Friday his intention to forbid the offering of free plastic bags in stores. Korodi says that the measure will encourage people to use textile bags, thus reducing the pollution with slow decomposition in the biodegradation process. Quality bags take 100 years to decompose, said the Environment Minister, who adds that the measure may come into force at the beginning of 2009.Korodi also takes into account supplementary taxes for stores which chose ...
Four new WEEE campaigns to be staged in 2008
Thursday, January 24, 2008
Environment Ministry (MMDD) will stage another four campaigns to collect waste electric and electronic equipment (WEEE), in 2008, similar to that late last year, Environment Minister Attila Korodi told a news conference. 'We will organize waste electric and electronic equipment collection campaigns on April 5, May 3, Sept 6 and Oct 4. 'We plan to collect e-waste also in rural and pre-urban areas, in the last two campaigns,' Minister Korodi said.According to him, MMDD also plans to have ...
Transgaz shares to be traded on Stock Exchange starting with Jan. 24
Thursday, January 24, 2008
Transgaz shares could be traded on the Stock Exchange starting with January 24, at a nominal value of 10 lei, according to a decision of the Bucharest Stock Exchange (BVB) Board.The Stock Exchange suspended, on Friday, the trading of allocation rights of the company, following the public offer organized by Transgaz at 2007-end. As well, BVB launched the procedures of admission to trading on the regulated market of Transgaz issued shares. As such, BVB Board decided to admit a number of ...
Competition Council authorizes Petromservice takeover by Petrom
Thursday, January 24, 2008
Competition Council (CC) has authorized the economic concentration operation made by SC Petrom SA Bucharest through the takeover of the unique, direct control upon oil service activities of SC Petromservice SA Bucharest, CC informs.Through this operation Petrom gets control upon the oil service activities (fix assets, inventory goods, specialized staff, some service contracts) run by Petromservice in the fields such as work-over (well repair works), maintenance, drilling, transport afferent ...
Ford Asks For Higher Thermal Power Supply To Romanian Auto Plant Craiova
Thursday, January 24, 2008
US giant Ford Motor Co. asked thermal power plant Craiova to increase its thermal power supply to Romania’s auto assembly plant Automobile Craiova, which Ford took over last year.The thermal power supply required by Ford is similar to the supply for the entire city of Craiova.The officials of both Ford and Craiova power plant on Friday met to talk about increasing the thermal power supply at the car making plant. Ion Dinulescu, manager of Craiova thermal plant, pointed out that increasing ...
Level of energy prices was not negotiation element between Romania, European Commission
Thursday, January 24, 2008
The level of energy prices was not a negotiation element with the European Commission, with Romania having pledged to adjust prices gradually in view of covering entirely the operation, financial, development and environment costs, the Romanian Ministry of Economy and Finance MEF has announced. The MEF clarification comes in the wake of the information in the press according to which the European Commission has increased pressure on Romania to modify the energy market's legislation, so that ...
No deadline for gas tariff alignment, says EC spokesman on energy
Thursday, January 24, 2008
Romania is not obliged to bring in line the price of natural gas from local production with that of import gas until January 1, 2009, European Commission officials stated for Adevarul daily. Asked if starting January 1, 2009 or another precise, officially assumed date, Romania should align the price of domestically produced gas to the price of import gas and if the deadline can be re-negotiated, EC spokesman for energy Ferran Tarradellas told the daily that no deadline had been imposed.'The ...
Gas Bills Should Rise 10% In 1Q – Distrigaz Sud
Thursday, January 24, 2008
Natural gas prices for end-users should rise 10% in the first quarter of 2008, if the methodology set up by Romanian energy watchdog ANRE, comes into force, gas distributor Distrigaz Sud, majority-owned by French utility Gaz de France, said Tuesday.ANRE has not published the new tariffs yet but it might announce them on February 1. Following the delay in publishing the new gas prices, Distrigaz Sud said it reports daily losses of 1.5 million (EUR1=RON3.7202).The company’s representatives ...
Transgaz and Mol sign memorandum for completion of Arad-Szeged interconnection pipe
Thursday, January 24, 2008
Representatives of Transgaz national company and of Mol Hungarian company on Tuesday in Szeged, Hungary, signed a memorandum of understanding for the completion of the construction of Arad-Szeged interconnection natural gas pipe, reads a company release sent to the Bucharest Stock Exchange (BVB).The pipe will be 61.7 kilometers long, of which 36.7 kilometers have already been constructed.The memorandum stipulates the attributions of the sides, so that the interconnection be completed and ...
Government is trying to absorb international risks regarding energy price
Thursday, January 24, 2008
The assessments regarding the prices of the energy basket will take into account, starting February, both the international context and the ways of absorbing the risks, Economy and Finance Minister Varujan Vosganian said at the end of the Wednesday meeting.He underscored that the price of energy witnessed unprecedented rise in 2007 internationally, while in Romania the energy basket (electricity and natural gas) registered a slight drop.Vosganian has recently said that an increase in the ...
EC Approved RON1.29B State Aid To Romanian CNH
Thursday, January 24, 2008
The European Commission approved a state aid worth nearly 1.29 billion lei (EUR1=RON3.7619) to Romania’s coal mining company Compania Nationala a Huilei, or CNH, the commission said Wednesday. The commission, which approved the state aid in the fall of 2007, said the money would be granted to CNH during 2007-2010.In 2007, the Romanian Government granted state aids worth RON227.6 million to CNH, whose debt to the state budget was annulled at the end of 2006 via an emergence government ...
Commission defends biofuels in face of mounting criticism
Thursday, January 24, 2008
The EU's energy and agriculture commissioners have joined hands in defending the bloc's commitment to biofuels, following calls by a UK parliamentary committee for a moratorium on the promotion of the controversial alternative to fossil fuels. The UK House of Commons Environmental Audit Committee (EAC) Monday (21 January) joined a growing chorus of criticism over the promotion of biofuels for use in the EU's transport mix, arguing against any further promotion of the fuels at EU level. ...
Russia will build a nuclear power station in Bulgaria
Thursday, January 24, 2008
Bulgaria and Russia signed on Friday in Sofia a construction contract for a Russian nuclear power station, worth four billion euros. The agreement was signed during the second visit of the Russian president Vladimir Putin to the Bulgarian capital city. At the beginning of December, the European Commission approved the construction of the Belene power station on the Danube and of two reactors with a capacity of 1,000 MW each. It is about the first achievement of the Russian group ...