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Energy & Environment
The German RWE becomes a partner of the Nabucco project
Thursday, January 24, 2008
The Turkish leaders accepted on Tuesday 22 January that the German group RWE become the sixth partner of the Nabucco consortium, Reuters informs. Thus, the project – shadowed by the competitor South Stream – has got a new impulse. After the Turkish prime minister Tayyip Erdogan accepted on Tuesday that the German group becme the sixth partner with the Nabucco project, the representatives of the Botas company, member of the consortium take a decision regarding the partnership with RWE. The ...
In what way Romania is affected by Russia’s energy expansion
Thursday, January 24, 2008
The authorities in Sofia announced on Friday the sign of an agreement on Bulgaria's participation in the construction and exploitation of the South Stream pipeline during the ongoing visit of President Vladimir Putin to Sofia. South Stream, set to cross the Black Sea, then Bulgaria, stretching two-thronged toward Greece and Italy in the south, respectively to Serbia in the north, is a rival of Nabucco gas pipeline, in which Romania is involved, as well as Bulgaria and Italy and which is ...
Serbia agrees Gazprom energy deal
Thursday, January 24, 2008
The Serbian government has agreed a major deal with gas giant Gazprom which increases Russia's hold on Europe's energy supply. Under the draft agreement, Russia's state-run monopoly will buy a majority stake in Belgrade's NIS oil monopoly and run a gas pipeline through Serbia. Last month, Gazprom offered 400m euros (£298m; $580m) for NIS. The EU urged Serbia to apply "objective" interests. The financial terms of the deal have not yet been disclosed. The Serbian government said it had ...
Profit worth 10 mln euros for Energy Holding in 2007
Thursday, January 17, 2008
Electricity trader Energy Holding estimates a turnover for 2007 of 270 million euros and a profit of 10 mln euros. The evolution of financial indicators was sustained by a rise in electricity needs and a higher number of clients. The company's financial results in 2007 are lower year-on-year. Energy Holding expects an increase in both turnover and profit in 2008, seeking to consolidate its internal market position and to increase the number of its industrial clients.The main challenge in ...
European environment funds may reach 600 million euros annually
Thursday, January 17, 2008
Four major infrastructure projects in the water sector, in a value of approximately 470 million euros awaiting the approval of Brussels, six similar projects and a good dissemination of information regarding the program are a few of the achievements of the Ministry of the Environment in 2007.In an interview published by the euROpeanul, Environment Minister Attila Korodi stated that the Environment Sector Operational Programme had received a positive feedback from the European Commission ...
Agricultural company to invest 18 million euros in green energy
Thursday, January 17, 2008
The Racova Com Agro Pan Vaslui group of companies, owned by former international soccer referee Adrian Porumboiu, is to invest some 18 million euros this year in two electrical and thermal energy units. 'The new units, to be built in Barlad and Tarzii (Ed. n.: towns in Vaslui County), are to be operational by the end of the year, and will have a production capacity of four and two megawatts, respectively,' Porumboiu said. Half of the investment will be made with European funds, he added. The ...
Israel's EER to recycle 30,000 tons of waste per year in Romania
Thursday, January 17, 2008
Foreign investors start grabbing the opportunity offered by the absence of waste recycling facilities in Romania; one of them is Israel's Environmental Energy Resources (EER) - member of the Shrem Fudim concern - that signed a partnership for the construction of a waste recycling plant in Romania, with an investment estimated at 30 million euro.The project will most likely be located near an urban agglomeration, so that an optimum, continuous waste flow be ensured, Minister of the ...
Electrical energy resources decline 2.7 pc in first 11 months of 2007
Thursday, January 17, 2008
Primary energy resources, as well as electrical energy ones declined over January 1 - November 31, 2007 compared to the same period of 2006 by 1.1 percent, respectively 2.7 percent, according to data provided by the National Statistics Institute (INS).Main primary energy resources over the examined period totalled 37.489 million tons oil equivalent (tep), a reduction of 428,700 tep, respectively 1.1 percent from the similar period of previous year.Domestic production stood at 21.974 million ...
Romgaz plans to invest in Turkmenistan
Thursday, January 17, 2008
Natural gas producer Romgaz Medias (center) could involve itself in natural gas extraction in Central Asia through the leasing of some gas fields or development of underground storage facilities, announced secretary of state in the Ministry of Economy and Finance (MEF) Viorel Palasca. Turkmenistan presents a maximum interest and, to this end, a joint delegation formed of MEF and Romgaz representatives is going to visit this country in order to identify cooperation opportunities in energy ...
Reactor 2 increased nuclear energy production by 16%
Thursday, January 17, 2008
The production of electrical energy out of nuclear sources increased by 16% over the first 11 months of 2007, 814 million KWh respectively, while the production from hydropower stations dropped by 2.8 billion KWh by 16.6% against the same period of 2006 the National Institute for Statistics announced. The increase in nuclear production could be explained by the use of reactor 2 in Cernavoda, which was connected to the national energy grid on 7 August 2007. It got into commercial exploitation ...
Nuclearelectrica wants to list on Stock Exchange
Thursday, January 17, 2008
Electricity producer Nuclearelectrica SA has announced it has in view for the coming period the unfolding of two major projects: the establishment of the project company that will build the units 3 and 4 at Cernavoda nuclear power plant (south-east), and the listing on the Stock Exchange.The officials of Nuclearelectrica say that in order to respond to the deregulation of the energy market, the company wishes to revise its own strategy, in the context of the European energy policy. ...
MEF relies on hydro, nuclear power to cut trade deficit
Thursday, January 17, 2008
The development of hydro and nuclear power facilities will reduce the need for energy raw material imports, and thus narrow down the trade deficit, stated yesterday the Romanian Minister of Economy and Finance Varujan Vosganian, taking part in the EuroMoney seminar in Vienna.'The trade deficit, which is a source for the development of Romania, is mostly generated by our exchanges with three partners: Russia, China, and the European Union,' Vosganian said. Since 40 percent of Romania's energy ...
Romania Backs Involvement Of Gaz De France, Kazakhstan In PEOP Proj
Thursday, January 17, 2008
Romania backs the implication of Gaz de France (GdF) and Kazakhstan in the construction of the Pan-European Oil Pipeline linking Romania and Italy, said Viorel Palasca, state secretary in the Ministry of Economy and Finance."Romania supports the involvement of GdF in the construction of the pipeline,” Palasca told Mediafax..A ministry official in October said the coordinator of the oil pipeline, Jozias Johannes van Aartsen, informed the economy and finance minister Varujan Vosganian of the ...
Sugar in Romania affected by international oil
Thursday, January 17, 2008
The price of sugar on the Romanian market could increase by 30% over the next months, due to the reorientation of fuel producers, at a global level, to bio fuels, which are mainly produced from raw material common for the sugar industry. Sugar increased its price up to 11.54 centspound ( one pound = 453.59 grams) as a result of massive purchase of raw material by investment funds, as well as due to the increase in the demand on the part of Brasilian biofuel industry, supported by the record ...
Report : Biofuels 'are not a magic bullet'
Thursday, January 17, 2008
Biofuels may play a role in curbing climate change, says Britain's Royal Society, but may create environmental problems unless implemented with care. In a new report, the Society suggests current EU and UK policies are not guaranteed to reduce emissions. It advocates more research into all aspects of biofuel production and use.The report says the British government should use financial incentives to ensure companies adopt cutting-edge and carbon-efficient technologies. "Biofuels could play ...
The European Commission requires Romania to deregulate gas price
Thursday, January 17, 2008
The European Commission insists that Romania should modify its legislation on the energy market so that it should be similar to that in the European Union. What is in fact is a deregulation of the market, which could lead to an increase in price for gas of Romania. The spokesperson of the European commissionaire for energy Terran Terradellas stated for BBC that Brussels monitors the way in which Romania operates on the market. “ According to European legislation, gas prices should keep into ...
Romanian Govt Succumbs To EC Decision Over CO2 Emissions
Thursday, January 17, 2008
The Romanian Government succumbed to the European Commission’s decision reducing Romania’s pollutant emission ceiling for each industrial installation.However, Romania still stands by its solicitation forwarded to the European Court of Justice as regards cancelling the European Commission’s decision.In December 2007, Romania asked the European Court of Justice to cancel the Commission’s decision reducing Romania’s pollutant emission ceiling, claiming that the Commission overstepped its ...
Investments exceeding 500 mln dollars in Rompetrol, in upcoming years
Thursday, January 10, 2008
The Kazakh state company KazMunaiGaz, which last year became majority shareholder of Rompetrol oil group, by taking over a share package of 75 percent, says it will invest 500 million dollars (330 million euros) in the upcoming 3-5 years in Rompetrol's expansion, Ziarul financiar daily reports on last Friday.The respective funds are earmarked for the development of the current capacity (refining - editor's note), development of the retail chain, as well as of those segments which have to ...
Petrom's profit to jump 62 pc in 2008, according to Raiffeisen analysts
Thursday, January 10, 2008
After last year Petrom's net profit posted a marked decline of 20 percent, for this year Austrian Raiffeisen Centrobank analysts estimate a jump of 62 percent and for the following year - a drop of 14 percent.Analysts think that both fuel demand on the domestic market and the oil's price are to continue to play to Petrom's advantage in the near future. But the company will not be able to take full advantage of these favorable circumstances due to the negative impact of the exchange rate, ...
Romania’s Rompetrol Cuts Gas, Hikes Diesel Oil Prices Early Jan
Thursday, January 10, 2008
Romania’s second-largest oil company, Rompetrol Group NV cut during January 7 and 13 the gasoline pump prices by 0.07 leiliter (EUR1-RON3.5897), and hiked the diesel oil prices by 0.03 RONliter, the company said Monday in a statement. Thus, one liter of Premium Euro 4 gasoline and Efix95 gasoline will cost RON3.61, while one liter of Euro Super 98 unleaded gasoline will cost RON4.21The Efix Diesel will cost RON3.76 and the Super Euro 95 diesel oil RON4.02 one liter. Rompetrol’s fuel ...