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Energy & Environment
Green Energy Grup invests €300 mln in wind energy projects
Thursday, November 8, 2007
Green Energy Grup SA intends to develop three wind energy park projects, each of some 60-70 MW, following €300 million worth of investments, the company's General Manager, Gheorghe Tripon, told Business StandardThe company is looking for strategic partners to participate financially in these projects," added Tripon. Green Energy Grup is already producing 0.75 MW of wind energy at a plant in Tulcea County and will install two further wind plants in the coming months, each with a 0.6 MW ...
Italy, interested in cooperation with Romania in energy sector
Thursday, November 8, 2007
Italy is interested in cooperating with Romania in terms of using the structural fund for energy, Italian Minister for Economic Development, Pier Luigi Bersani told a Tuesday's press conference.'The Italian Government is interested in expanding the cooperation with the Romanian authorities, especially in the energy, finance and defense technology fields,' said the Italian minister.Speaking about the events that caused disputes between the Romanian and Italian sides, he said 'the relations ...
Six mining companies could go to AVAS by the end of the year
Thursday, November 8, 2007
The Authority for the State Assets Recovery (AVAS) will take over six mining companies from the ministry of economy and finances by the end of the year, after the ministry of economy signs the protocol of assignation of duties, according to the data offered by AVAS. For the six mining companies, the protocol was signed by AVAS and will be approved by MEF as well, the AVAS representatives waiting for such a decision by the end of the year. AVAS has already started to sign in as a shareholder ...
Nabucco project « Dead before birth »
Thursday, November 8, 2007
The Nabucco project, meant to reduce the EU dependence on Russian gas becomes less feasable. Following the example of the general secretary of the Energy Charter Andre Mernier, the Austrian experts in the domain of energy considered the project as lacking in perspective. All these points of view, the daily Kommersant-Ukraini informs, increase the Gazprom chance as regards the achievement of its own pipeline construction to transport natural gas from Central Asia to the EU. By November 1, the ...
Biofuel, the new engine for the industry
Thursday, November 8, 2007
Although in the beginning, the Romanian market of biofuel has known a real boom, specialialists appreciating that the domestic production of biofuel will rise by next year to 400,000 tons, obtained from sun-flower and rape. The main players on the market focus on the agri-business sector, but they keep their interest in the edible oil production. “ Biofuel is a sector with a certain dynamics all over the world. The Romanian market is still in the beginning but Cargill supplements its ...
AVAS unblocked the Rafo Onesti shares, after debt payment
Thursday, November 8, 2007
The Authority for the State Assets Value (AVAS) announced the dropping of the security for the 21.3 million of Rafo Onesti shares, as a result of some payment by the Calder-A company, company which took over the company. The vice-chairman of the institution Constantin Botez made the announcement. Calder-A company, controlled by the Russian tycoon Yakov Goldovskiy paid 23.8 million lei ( 7.14 million euros) for the debt and thus they honoured their obligations in the privatization contract. ...
Vosganian: 2008 year of investment in energy
Thursday, November 1, 2007
Minister of Economy and Finance, Varujan Vosganian, said on Thursday, that the Cabinet intends to turn 2008 in the year of investment in energy. ‘While 2007 has been regarded as the year of energy, 2008 will be the year of investment in energy and in renewable energies' Vosganian stated at the international conference of regional electricity markets RESYM 2007, organized by Transelectrica..‘Many international banks such as the World Bank, the EBRD or the European Investment bank, as ...
Gov't should observe value of royalties mentioned in Petrom's privatisation contract
Thursday, November 1, 2007
Romania's Government must observe the value of royalties set forth in the privatisation contract signed for Petrom and for any other company, Minister of Economy and Finance Varujan Vosganian said on last Thursday.Vosganian's statement came only few days after the Senate's Economic Committee increased royalties charged on Petrom for crude exploitation to 10 eurostonne, from a previous 5.6 euros. The Committee passed an amendment that provides for a doubling of oil royalties as the Government ...
Six binding bids for building Cernavoda Reactors 3 and 4
Thursday, November 1, 2007
Six companies - Electrabel Belgium, Enel Italy, Iberdrola Spain, CEZ the Czech Republic, Arcelor - Mittal Romania and RWE Germany - have submitted binding bids for building Reactors 3 and 4 of the Cernavoda Nuclear Power Plant (southeastern Romania), nuclear power utility Nuclearelectrica announced.After the announcement made by SN Nuclearelectrica SA, inviting the potential investors to place binding bids was made public on this Aug. 8, as many as 37 Romanian and foreign companies took the ...
Transelectrica to handle applications for installation of 3,000 MW in wind capacity
Thursday, November 1, 2007
Transelectrica received from electricity producers applications for the installation of wind turbines with a capacity of 1,000 MW in Dobrogea and of another 2,200 MW wind capacity in Moldova, Transelectrica director general Stelian Gal told the international conference 'The electro-energy system and regional electricity markets on the way to the European internal electricity market.'Romania's potential for wind energy is 14,000 MW, specified Transelectrica's director general. The power ...
CEZ has 2 bln euros to invest in Romanian energy sector
Thursday, November 1, 2007
Czech utility company CEZ has some 2 billion euros for investments in the Romanian energy sector, CEZ Romania Corporate Affairs Manager Adrian Borotea told a conference on energy issues on Friday.'In the next two or three years, we seek to attain a market share of 15-20 percent of the Romanian energy system and to have an installed capacity of 1,000 Mwatt', Borotea said. He added CEZ plans to build two thermal-power plants, either by greenfield investments or by taking over the existing ...
Hidroelectrica to take long-term credit with annual draw worth 150 M euros from EIB
Thursday, November 1, 2007
Hidroelectrica electricity producer plans to take a long-running credit with annual draw worth 150 million euros, from the European Investment Bank (EIB), given that the Company needs an investment of round 1 billion euros by 2011, Hidroelectrica development manager Bedros Naianu said during an international conference on energy, on Friday.The money will be used for the finalization of about 20 big objectives started before 1989.The Company also completed the first study stage conducted by ...
Enel buys company to put out wind power
Thursday, November 1, 2007
Enel Company through its Enel Investment Holding subsidiary bought all the rights of Romanian Blue Line SRL to develop wind energy in Dobrogea area (south-eastern Romania) with future potential capacity totaling about 200 MW, says an Enel release.The transaction was reached on Wednesday, October 24, and the projects are in process and are expected to become operational in 2010.The transaction makes Enel enter the Romanian renewable energy field, according to the company's strategy to ...
Tender for 8 exploitation fields of hydrocarbons in 2008
Thursday, November 1, 2007
The National Agency for Mineral Resources (ANRM) is to tender exploitation in 2008, deputy general manager of the Agency Mihai Gherman told a seminar devoted to the celebration of 150 years since the extraction of the first crude oil barrel in Romania.'I hope that we will be able to conclude new agreements for eight exploitation licenses by the end of 2008,' Gherman said.The ANRM representative showed that the eight perimeters are placed in Botosani, Dorohoi, Harlau, Prut, Iasi, Siret, Husi ...
Rompetrol boss Dinu Patriciu clarifies KazMunayGaz information
Thursday, November 1, 2007
Rompetrol head Dinu Patriciu, one of the richest businessmen in Romania, has said that recent information published by Russian agency Interfax suggesting that the Kazakh company KazMunayGaz wanted to contract a three billion dollars loan to finance the takeover of 75% stake in Rompetrol as announced earlier this year was pure speculation.Patriciu said in a TV talk-show on Romanian business TV station The Money Channel that everything was set and the transaction would be finalized once the ...
Romania fully supports 'Nabucco' project, states Traian Basescu
Thursday, November 1, 2007
President Traian Basescu expressed, within the meeting in Cotroceni Palace with Jozias van Aartsen, European Commission's coordinator for the construction of 'Nabucco' gas pipeline, full support of the Romanian authorities for the European official's efforts, aimed at materialization of this objective.'The talks were focused on the establishment of a cooperation framework between the Romanian authorities and the European coordinator as regards the implementation of Nabucco project. As well, ...
Ria Noenervosti : Nabucco trans-Caspian gas pipe project unrealistic - EU official
Thursday, November 1, 2007
The Nabucco project to build a trans-Caspian natural gas pipeline to Europe bypassing Russia is impracticable, the general secretary of the EU Energy Charter Secretariat said. The $6 billion pipeline project is expected to link energy-rich Central Asia to Europe through Turkey, Bulgaria, Romania, Hungary and Austria. Construction is scheduled to begin in 2009, so that the pipeline could go on stream in 2012."The project's implementation in uncertain circumstances in areas close to the Black ...
Statistics : Energy resources and end consumption up in 2006
Thursday, November 1, 2007
Total energy resources available in 2006 stood at 48.9 million tons of oil equivalent (toe), up 0.2 million toe (0.4 percent) against the year before, reveals data centralised by the National Statistics Institute. The primary energy output in 2006 was 27.1 million toe, maintaining its share of the total energy resources steady at 55 percent, like in the year before.Energy exports stood at 5.983 million toe, by 8.4 percent less than in 2005, with oil products further holding the determinant ...
E.ON Romania stores one billion cubic metres of gas
Thursday, November 1, 2007
E.ON Gas Romania's winter gas reserve attained one billion cubic metres, the company informs.Natural gas consumption grows substantially in the cold season and since demand is higher than the available amounts from the current gas production, the necessary quantity must be procured and stored in advance in underground tanks, from where it can be drawn to cover the winter peak consumption. E.ON Gaz Romania takes 60 percent of its natural gas from the domestic production and 40 percent from ...
Rompetrol Petrochemicals estimates turnover of 300 million euros
Thursday, November 1, 2007
Rompetrol Petrochemicals Co. estimates for next year a turnover of 293 million euros (420 million dollars), 50 percent higher than this year.According to the company's representatives, this growth is especially due to the launching of a high-density polyethylene installation at Petromidia (south-east), following an investment of some ten million euros (14.5 million dollars). The new installation has a production capacity of 60,000 tons per year and was re-started last month after, in 1996, ...