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Energy & Environment
As many as 37.703 RECs are traded in 2007
Thursday, January 10, 2008
As many as 37,703 green certificates also known as Renewable Energy Certificates (REC) were traded on the Centralized Green Certificates Market in 2007, the largest number, i.e. 18,541, being transacted in January and the lowest, namely 182, in June. As many as 4,304 green certificates were traded in December, Romanian Energy Market Operator (OPCOM) web page informs. Fifty-nine purchase and 240 sale offers were launched starting early this year. The green certificate is a document confirming ...
Natural gas tariff hike affects business environment in 2008
Thursday, January 10, 2008
The major problems challenging the Romanian business environment in 2008 are the tariff increase for natural gas, the exchange rate evolution and the shortage of skilled staff, secretary-general of the Romanian Businessmen Association (AOAR) Cristian Parvan told Rompres. 'The situation of energy resources and especially the increase in natural gas prices represents a problem for businesspeople, the more so as prices are an element of competitiveness. A cutback in energy consumption at all ...
Refinery Steaua Romana Campina posts a 240 million lei turnover
Thursday, January 10, 2008
Steaua Romana Campina Refinery posted over the first nine months of 2007 a 240.4 million lei turnover (68.5 million euros), after it had posted 229.3 million lei over the same period of 2006.The Refinery Steaua Romana was established in 1895 as the Anonymous Company Steaua Romana, as producer of light crude oil.The company has a processing capacity of 400,000 tonnes of crude oil a year.The company, listed on Rasdaq, posted a net profit of 416,004 lei (118,800 euros) over the first semester, ...
Austrian company purchases Carom Onesti
Thursday, January 10, 2008
The representatives of Austrian company Energy Bio Chemicals (EBC) signed on Tuesday the final agreement for the acquisition of the Onesti-based (eastern Romania) Carom company, that is the only production unit that ever produced synthetic rubber in Romania, Rompres correspondent reports. After four failed attempts to privatise the Onesti-based facility, followed by the scandals caused by the acquisition of the majority stake by controversial individuals and corporations, Carom was declared ...
Higher electricity transport prices starting with Jan. 1, 2008
Thursday, January 10, 2008
Electricity transport price was increased starting with January 1, 2008, by 0.48 leiMWh, according to an order of the president of the National Regulatory Authority in Energy Field (ANRE), Transelectrica informed in a release issued to Bucharest Stock Exchange (BVB).The average tariff of electricity transport was increased to 15.33 leiMWh compared to 14.85 leiMWh previously. As well, the tariff for services provided by the wholesale electricity market operator - OPCOM was modified, this ...
Eurostat: Romania, among EU countries with lowest price for natural gas
Thursday, January 10, 2008
Romania in 2007 recorded one of the lowest levels in the price of electricity and natural gas among the EU countries, according to data supplied by the Statistical Office of the European Communities Eurostat.According to Eurostat, the price of natural gas supplied to the population in 2007 stood at 7.6042 euros per giga joule, which places Romania 6th in the classification of the lowest prices in the EU. The top positions are taken by Estonia, Lithuania, Hungary, Latvia and Bulgaria, while ...
Transgaz starts construction of Jibou-Gilau pipeline
Thursday, January 10, 2008
Transgaz Medias natural gas operator began in December the construction of Jibou-Gilau gas pipeline, involving a first investment of 39.5 million lei (1 euro=3.59 lei), the company informed the Bucharest Stock Exchange in a release.The natural gas pipeline will be 80 km long and will link in the first stage Jibou (Salaj county) and Gilau (Cluj county) localities, northwest of Bucharest, and will then continue with the next stages according to the investment programme.Transgaz is the ...
No nuclear material smuggling recorded in Romania
Thursday, January 10, 2008
No nuclear material smuggling has been recorded in Romania, with this fact being also confirmed by the expert missions of the international atomic agencies, the Romanian Ministry of Economy and Finances announced on Tuesday.Such was the conclusion of the talks that Economy and Finances Minister Varujan Vosganian held with officials of the Romanian institutions and authorities having responsibilities in the nuclear sector. Attending Tuesday's meeting were representatives for National Company ...
ECJ to decide on Romania's lawsuit against CO2 quotas, next year
Thursday, January 10, 2008
The European Court of Justice (ECJ) is expected to issue a sentence on the lawsuit Romania filed against the EU Commission (EC) about the decrease in the quotas of the greenhouse gas emissions, Environment and Sustainable Development Minister Attila Korodi said on Monday. Government's European Affairs Department (DAE) sent ECJ a complaint on Dec. 21, 2007 and received the confirmation it had been already registered. ECJ will set the first appearance in three months at the longest, but a ...
Business criticises green industry plans
Thursday, January 10, 2008
A Commission proposal aimed at toughening up emissions legislation for industrial installations has come under fire from business leaders, who say it could force power stations and other plants to shut down.The 1996 Directive on Integrated Pollution Prevention and Control (IPPC) introduces a permit system to prevent and limit pollution from large-scale industrial installations. Sectors covered include everything from metals, chemicals and paper to processed food, oil refineries and ...
Petrom contributes one third to OMV profit
Thursday, November 22, 2007
Austrian oil group OMV announced earnings before interest and taxes (EBIT) of 619 million euro, up 22 percent in comparison with the net figure posted in similar period of the previous year; of this amount, the group's Romanian division - Petrom contributed 200 million euro, reads a release of the Austrian company.The net profit of OMV group stood at 489 million euro in Q3 and its turnover attained 5.139 billion euro.As for the number of employees, OMV was employing in Q3 35,926 people, of ...
Minister Korody: Price of industrial water should be put up
Thursday, November 22, 2007
The water acquisition price for industrial operators should be increased in order to force them invest in consumption reducing technologies, Romanian Minister of Environment and Sustainable Development Attila Korodi told a conference on the subject of the conservation of water resources and the combat of pollution in the Danube basin. 'If we translated the value of water into fair prices, the companies would invest more in consumption-reducing technologies. The European society does not ...
GE local projects worth 500 million dollars
Thursday, November 22, 2007
Alongside its partners, General Electric invested about 500 million dollars in Romanian business, reveals a company release. GE has been operating in Romania since 1984. In 2007, GE Real Estate and Helios-Phoenix announced the establishment of a joint-venture intended for the development in Romania of distribution storage facilities worth 175 million euro. Also in 2007, GE became the sole owner of Turbomecanica Combustor Products, by the acquisition of 50 percent of the stake held by ...
LPG trading pushes Butan Gas turnover to 40M euros
Thursday, November 22, 2007
Butan Gas, a major player on the LPG (liquefied petroleum gas) market, generated turnover worth 40 million euros in the first eight months of the year, up 29 percent on last year. The Romanian company is part of an international group, developed by Romanian businessman Iosif Constantin Dragan, one of Romania's wealthiest entrepreneurs, Ziarul financiar daily reports. 'Turnover was boosted by the development of the trading segment, namely wholesale to the majority of players that operate on ...
Romgaz to invest 220 million euros annually in finding new gas resources
Thursday, November 22, 2007
Romgaz natural gas operator wants to invest some 220 euros over the next four years in finding new natural gas resources on the Romanian territory in the eight areas leased from the National Agency of Mineral Resources, said on last Friday in a seminar on energy Romgaz director Gheorghe Radu.According to him, the company's storage capacity is 6 billion cubic metres annually, Romgaz having 300,000 derricks and 20 compression stations.Gheorghe Radu said that the company's storage capacity grew ...
Gov't to invest in upgrading central public heating systems
Thursday, November 22, 2007
The Romanian Government will invest approximately 2 billion euros throughout 2012 in upgrading the centrally managed public heating systems in the country, state secretary with the Ministry of Home Affairs and Administrative Reform Marian Petrache told a seminar on Friday on energy issues.According to Petrache, the Government has earmarked approximately RON 260 million for 2008 for heat generation and distribution projects toward which local communities will also contribute.There are 79 ...
Europe sees first natural gas line off Russian land
Thursday, November 22, 2007
Monday, November 18, Europe seen the opening of its first natural gas pipeline providing gas from the Caspian Sea area without crossing Russian territory. The natural gas is extracted in Azerbaijan and crosses Turkey, reaching Greece.Leaders from Greece, Turkey, USA, Azerbaijan, Georgia and Italy participated in the official opening of the project, known as the “South European Gas Ring”. The construction of the pipeline begun in July 2005.Arriving in Greece, the line follows the route of ...
Nuclearelectrica debts erased by the state
Thursday, November 22, 2007
In October, the state canceled debts amounting to RON 1.4 billion (€430 mln) owed to its budget by state-owned electricity producer, Nuclearelectrica, according to data from the Economy and Finance Ministry (MEF).According to MEF officials, the measure did not require that the European Commission (EC) be notified about this state aid, as investments in the nuclear energy sector are excluded from such legislation. "For this sector, stipulations of EURATOM are applied, which do not include ...
Rompetrol-KazMunaiGas deal – Rompetrol takeover poses no risks to competition, EC deems
Thursday, November 22, 2007
The European Commission gave its consent on the takeover of the 75 percent majority stake of The Rompetrol Group, the second-largest oil company in Romania, by Kazak-based KazMunaiGas, saying it does not affect competition on the market, according to a release.Activities carried out by the two companies are complementary on the European market, the body deemed. Kazakhstan’s state-owned KazMunaiGas bought 75 percent of Rompetrol on August 27 uttering interest in the Petromidia oil refinery, ...
Romania, lowest ecological footprint
Thursday, November 22, 2007
In Romania, the ecological footprint is 2.4, the lowest in the European Union, and the country remains an ecological debtor (with 2.3 biocapacity), reads the report 'Europe 2007 - Gross Domestic Product and Ecological Footprint' released on Monday by the World Wildlife Fund (WWF).The ecological footprint measures the pressure mankind puts on the biosphere, function of the productive area (land and water) of the planet necessary for supplying the natural resources mankind consumes and for ...