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Energy & Environment
World Bank supports Romanian programs in environment field
Thursday, November 1, 2007
The World Bank's Board of Executive Directors approved a new loan granted by the International Bank for Reconstruction and Development (BIRD) to Romania, in the value of 50 million euros and a grant from the Global Environment Fund (GEF), in the value of 5.5 million dollars, for the project called 'Integrated control of nitrate pollution', the World Bank informs in a release.Total costs of this projects are estimated at 81.6 million dollars equivalent, that include a GEF grant in the value ...
Specialists refute Greenpeace accusations about pollution with tritium
Thursday, November 1, 2007
The pollution with tritium to which Greenpeece expert Ian Fairlie referred in the report on the assessment of the possible impact of tritium emissions at the nuclear power plant based in Cernavoda is considered insignificant by Romanian experts with the National Research-Development Institute for Cryogenic and Isotropic Technologies - ICSI Ramnicu Valcea , the institute's representative Nicolae Bidica said on Wednesday. ‘'In Romania the measurement unit for the effect of radiations on live ...
Italians eye Romanian green energy business
Thursday, November 1, 2007
Italian investors expressed interest for developing business in the Romanian energy field, especially by building micro-hydro power plants and wind power plants, Minister for SMEs, Trade, Tourism and Liberal Professions Ovidiu Silaghi told Rompres. 'Italian investors are eager to get as much information as possible regarding the utilization of structural funds in Romania, the more so as Italy is the country with the strongest representation in the ranking of companies with foreign capital,' ...
Hungary opposes the Rosia Montana project
Thursday, November 1, 2007
Hungary opposes the mining project in Rosia Montana, the Hungarian minister for the environment Gabor Fodor told his Romanian counterpart Attila Korodi on the occasion of the official meeting of the joint commission Romanian- Hungarian which took place on Friday in Budapest, the MTI agency informs. Minister Gabor Fodor stated that Hungary suffered another natural disaster on the Tisza river due to the use of cyanide technology, the same as the one to be used in the Rosia Montana project. ...
Romania's approved CO2 quota below Bucharest's proposal
Thursday, November 1, 2007
EU Commission okayed for Romania a carbon dioxide (CO2) quota of 75.9 million tones for 2007, by 20.7 percent less than the initial proposal, with the special occasion of establishing the national plans for allotment of carbon dioxide emissions, the European Ombudsman web page informs.The reduction was 34.7 percent for Bulgaria.The Commission also approved the amendments for Germany's quotas. The schedule of Emissions Negotiation assures that the greenhouse gas (GHG) emissions correlated to ...
EU climate and energy proposals delayed
Thursday, November 1, 2007
The Commission has confirmed that an important package of legislative measures necessary for meeting Europe's climate change targets, including the promotion of renewable energies, will be delayed until at least mid-January.The climate and energy package, initially announced for 5 December 2007, is to include controversial "burden-sharing" targets, specifying how much each of the 27 member states should contribute to the EU's new binding objectives of sourcing 20% of its energy needs ...
Higher oil price could affect the Romanian market
Thursday, October 25, 2007
Romanian oil company officials have indicated that the recent international increase in the price of oil, which is rapidly approaching the $90barrel (63.52 eurosbarrel) psychological threshold, may significantly affect this year's profit and turnover, daily Business Standard reports. Lukoil Romania and Rompetrol are on the list of companies that could be negatively influenced by the rise in price per barrel. The General Manager of Lukoil Romania, Constantin Tampiza, said the rise in the ...
Rafo Onesti capital can be increased by 721 million euros
Thursday, October 25, 2007
The administration of Rafo refinery from Onesti (RAF) summoned at the end of next month a general shareholders assembly in view to increase the share capital by 721 million euros (2.4 billion lei), according to the report released by company's representative on the Stock Exchange.This increase might be a two-phase one. In the first phase, the shareholders are to debate the conversion into shares of the 475 million euros (1.58 billion lei) in debts refinery owns to various creditors.In the ...
Economic growth enables OMV Petrom to increase fuels price
Thursday, October 25, 2007
The economic growth of Romania, reflected in bigger salaries, enables the Austrians with OMV Petrom to increase fuels price, Ziarul Financiar daily writes on Monday.Petrom wants to reach a 20 percent market share in Bulgaria and Serbia, countries where, under the OMV brand (its majority shareholder), it already has sales of 1 billion euros along the OMV Romania network. The price of the oil barrel, which has reached 90 dollars, has a negative effect on the petrol station business, but the ...
Martifer forcefully enters on Romanian wind turbine market
Thursday, October 25, 2007
Eviva Nalbant company, part of the Portuguese concern Martifer, which will start the building of a 48 MW-wind power plant in Tulcea county (eastern Romania) aims to hold wind power plants nationwide with cumulated capacity of 400 MW by 2012. Eviva Nalbant, through its branch, Eviva Energy, will build as of next year, wind power plants in Dobrogea (south-east) and Moldova (eastern Romania). Luis Requejo, general manager of Eviva Energy told daily Cotidianul that the company aims to invest ...
Hungary, accused to intervene in the Rosia Montana project
Thursday, October 25, 2007
The employees of the Rosia Montana Gold Corporation required the start of the project in the Muntii Apuseni, as they say it is the only investment in the area, while Hungary was accused of interveining in the matter. The chairman of the Alba CSN Meridian, Viorel Hutuleac, accused the government that he was not interested in the project, as ministers think only at what they can get. “ It is obvious that personal interests start to appear. I don’t want to say that Mr.Korodi is interested in ...
Feasability study for the submarine Romania-Turkey cable to start in March 2008
Thursday, October 25, 2007
Feasability study for the submarine cable between Romania and Turkey will start in March 2008, to be made in 6 months, the development manager of Transelectrica Razvan Purdila stated for NewsIn. “ During the first half of November, Swedish authorities will receive all documents to approve the grant to finance half of the costs for the feasibility study, followed by audit. We estimate that the grant will be approved at the end of November – beginning of December” the development manger at ...
Gas Plus purchased 15% of the exploitation licences of some Romanian deposits
Thursday, October 25, 2007
The Italian group Gas Plus stated on Tuesday that they acquired 15% of two exploitation licences for some marine deposits in Romania, from the Canadian group Canada Sterling Resources, Reuters informs. The Gas Plus company, the fourth natural gas producer in Italy, stated they signed this agreement with the Canada Sterling Resources company as regards Midia and Pelican deposits. The agreement must receive approval from the National Agency for Mineral Resources in Romania and will come into ...
KazMunaiGaz borrows 3 billion dollars to finance Rompetrol acquisition
Thursday, October 25, 2007
The Kazakh oil company KazMunaiGaz intedns to borrow 3 billion dollars to finance the acquisition of 75 % of Rompetrol, sources in the industry stated for the Russian agency Interfax. “ ABN AMRO, Credite Suisse and Calyon were hired to negotiate the loan” one of the sources stated, according to the news on the site of the Thomson Financial agency. The Kazakh company KazMunaiGaz announced in August signed an agreement to take over 75% of Rompetrol from the businessman Dinu Patriciu. The sum ...
Electrica, Grivco and Enel bought energy from Nuclearelectrica on OPCOM
Thursday, October 25, 2007
Electrica acquired, on Wednesday on the energy stock exchange OPCOM a quantity of energy of 501,600 MWh at the price of 173.11 lei MWh while Grivco and Enel Energy bought each 250,800 MWh at 178.51 leiMWh, respectively 176.83 leiMWh from Nuclearelectrica. Nuclearelectrica deposited, for Wednesdday, on the central market of bilateral contracts attributed through bidding on the energy stock exchange OPCOM, three bids for energy selling. The first was for 501,600 MWh, at power 50 MW. Starting ...
Transgaz, the business of the endofyear at the Stock Exchange
Thursday, October 25, 2007
Investors who will subscribe Transgaz shares during the period of initial public bid will pay the equivalent of 57 euroshare, according to the decision adopted in the AGM of last week. Subscriptions will be made in lei at BNR exchange rate valid for the launching date for the final draft of CNVM bid, the shareholders decided. At the same time, shareholders decided the increase of capital by 13.84 million lei by the issue of a number of 1.38 million shares at 10 lei each. Petrom takes into ...
Adrian Cioroianu: Kazakhstan considers Rompetrol-MunayGaz transaction important step in its relation with EU
Thursday, October 18, 2007
The Rompetrol-KazMunayGaz transaction is considered by the authorities in Kazakhstan an important step in this country's relation with the EU, but also a first concrete step in the relation with Romania, after almost ten years of discussions, Foreign Minister Adrian Cioroianu told Rompres corespondent on last Friday, during an official visit to Astana.Cioroianu, who met on Friday President Nusultan Nazarbaiev, PM Karim Masimov, Foreign Minister Kassymzhomart Tokaev and Deputy Energy and ...
Environmental protection expenditure accounts for 2.3 pct of last year's GDP
Thursday, October 18, 2007
Environmental protection expenditure accounted for almost 8 billion lei, that is some 2.3 percent of the Gross Domestic Product in 2006, compared with 1.9 percent of the GDP in 2005, according to data centralized by the National Institute of Statistics.The structure of the expenditure by categories of producers of services for the environmental protection showed that the most important weight was represented by the specialized producers (54.4 percent in 2006 as against 48.6 percent in 2005), ...
Elcen to open new 190 MW unit in 2008
Thursday, October 18, 2007
State-owned electricity and thermal energy producer Elcen will make operational a new production unit at its CET Bucharest West plant in the last quarter of 2008, with a capacity of 190 MW and 170 gigacalories per hour, according to company data quoted by daily Business StandardThe construction project, worth €135 million, was contracted by Siemens, one of the world's largest electrical engineering and electronics companies, which developed the project following its acquisition of the ...
One billion euros to be injected in Petrom drilling and production by 2010
Thursday, October 18, 2007
Romania is at the top of the plans of Petrom (the most important oil company in Romania, privatised in 2004, when the majority shareholder became the Austrian group OMV) in terms of drilling and production of crude oil and natural gas.'Romania still has important resources of crude oil and natural gas. That's why we are to assign important financial resources, worth several million euros a year to this sector. We are thus to invest more than one billion euros in the drilling and production ...