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Energy & Environment
Petrom considering regional expansion projects
Thursday, October 18, 2007
Petrom, the largest company in Romania owned by Austrian OMV oil group, is currently looking into several opportunities to buy Russian and Caspian medium-sized oil companies and is also considering entering partnerships with world oil companies to carry out big projects in the area and increase it crude oil output.Petrom is currently holding 11 exploration licences in Russia, three of which have been bought this year.The company has been operational in Russia for more than one year now, ...
GE in talks with Petrom to become its turbine supplier
Thursday, October 18, 2007
General Electric (GE), a company ranked sixth in the Fortune 500 ranking, is in talks with Petrom to become the turbine supplier for the 800 MW gas-powered plant, which Romania's largest company intends to build by 2010, daily Ziarul FInaciar reports .'We have already had talks with Petrom about supplying turbines for the gas-powered plant they intend to build. We are also having talks with companies that want to invest in power plants using renewable resources, as well as with companies ...
Romania's market for lubricants, put at 300 million euros
Thursday, October 18, 2007
Romania's market for lubricants is worth some 300 million euros, according to Petrom officials. These figures show the market has almost doubled since 2004.Petrom, Romania's largest oil company, estimates it will have an 18-percent market share by the end of the year, from a current 15 percent, on sales in petrol stations alone. The company on Tuesday released a new range of engine lubricants meant to replace the current brand, RO 3. The new lubricants are initially to be traded in Romania ...
37 potential investors buy documentation for making Units 3, 4 of Cernavoda nuclear power plant
Thursday, October 18, 2007
A number of 37 companies bought the documentation for drawing up the binding bids for making Units 3 and 4 of Cernavoda nuclear power plant, reads a release of Nuclearelectrica company.The 37 companies that bought the documentation are KHNP - South Korea, RWE Power - Germany, ANSALDO AECL - Italy, Electrabel - Belgium, AFEN - Romania, ENEL - Italia, ALRO - Romania, Electrica - Romania, EGL - Romania, Unit International - Luxembourg, BRD - Romania, Mittal Steel - Romania, Gabriel Resources - ...
Project to build warehouse for final storage of radioactive waste
Thursday, October 18, 2007
Ministry of Economy and Finance (MEF), through National Agency for Radioactive Waste, examines the possibility to have a national warehouse built, maybe underground, for the final storage of radioactive waste, with the money coming from a contribution of 2 eurosMWh produced by the owner of the nuclear power stations, MEF sources told Rompres.'The money necessary for the design, building and safe operation of the final national warehouse for the radioactive waste resulted from the operation ...
Cernavoda nuclear power plant Unit I delivered over 4M MWh till Sept
Thursday, October 18, 2007
Unit I of Cernavoda Nuclear Power Plant (CNE) delivered 4.086 million MWh to the national electricity grid during the first nine months of 2007, Nuclearelectrica website reads.Nuclearelectrica National Co. through Cernavoda CNE Unit I, put out 5.631 million MWh, with 5.177 million MWh provided to the national system, in 2006, a record production in the Company's ten-year activity.Last year, electricity production covered the services consumption of the Unit 2, on probation.Moreover, each ...
Romania to continue its nuclear program, said Traian Basescu in Vilnius
Thursday, October 18, 2007
The issue of the nuclear energy is carefully approached by certain states, declared on Thursday President Traian Basescu at the Conference over energy security from Vilnius. 'We should not be afraid of the nuclear energy, if we manage it correctly, for civilian purposes. A few days ago, Romania commissioned a new nuclear reactor at Cernavoda. ‘We use a safe technology with high security standards. We are a country with a complete nuclear cycle and uranium reserves,' said Traian Basescu. He ...
Suez looks to U.K., Romania, Bulgaria for nuclear projects
Thursday, October 18, 2007
According to MarketWatch, French energy and utilities company Suez (SZE), which plans to merge with Gaz de France (1020848.FR) in the first half of 2008, is interested in building and operating nuclear power plants in the European Union, the company reaffirmed. Suez CEO Gerard Mestrallet, who is set to lead the future GdF-Suez combine, confirmed Monday at a joint conference with GdF CEO Jean-Francois Cirelli, that the company is examining opportunities in Bulgaria, Romania and the U.K., a ...
Possible hydro power station on Danube in Turnu Magurele-Nicopole area
Thursday, September 27, 2007
PM Calin Popescu-Tariceanu spoke with his Bulgarian counterpart Serghei Stanishev in Sofia about the construction of a hydro power station on Danube in Turnu Magurele-Nicopole area.The two governments will discuss the project in a common session. Tariceanu said the idea is not new, but a feasibility study must be drawn up, as things have changed. We must decide whether we finance the project from public funds or from EU funds, he said.The Bulgarian PM said the project must be carefully ...
Icelandic and Romanian companies should cooperate to exploit renewable energy resources
Thursday, September 27, 2007
The Icelandic and Romanian companies should cooperate to exploit resources of renewable energy, visiting Iceland's President Olafur Ragnar Grimsson said on Thursday, on the occasion of the Romanian-Icelandic Economic Forum organised by the Romanian Chamber of Commerce and Industry (CCIR) and by the Icelandic Business Council.'Iceland is a good example of a country that has turned from a country depending on fossil fuels into one producing clean energy. Romania and Iceland can ...
Hidroelectrica seeks a maximum of EUR 900 million in loans
Thursday, September 27, 2007
Hidroelectrica, the cheapest local energy producer, will discuss with leading international banks the engagement of up to 900 million euro in loans for the financing of its investment program.Hidroelectrica director-general Traian Oprea says that talks will take place with Deutsche Bank, Erste Bank, CitiBank and ING to establish the terms of the credits that are to support the company's 3 billion euro investment program due for completion in 2025. Oprea specified that on Wednesday, Sept. 19, ...
ANRE approves increase in price of natural gas by 3.7 percent starting on October 1
Thursday, September 27, 2007
The National Energy Regulatory Authority (ANRE) approved, starting on October 1, 2007, the 3.7 percent increase in the final prices of natural gas that is supplied in a regulated system, informs ANRE.According to ANRE the adjustment is generated by the increase in the price of imported natural gas. For the fourth quarter of 2007 a price level of 315 dollars1,000 cu m is estimated, up by 40 dollars1,000 cu m, as against the third quarter of the current year.In the first part of this year, ...
Cernavoda Nuclear Power Plant's Unit 1 undergoes overhaul
Thursday, September 27, 2007
The specialists of the Nuclear Power Plant based at Cernavoda, the southeastern Constanta county, Friday afternoon began the moves for the controlled shutdown of Unit 1, with a view to carrying out the unit's planned overhaul and to preparing the equipment for winter-time operation.National Company Nuclearelectrica's spokeswoman Mihaela Stiopol told Rompres that the decision was made to shut down Unit 1 for 10 days so as to allow for the overhaul ahead of switching to the optimal winter-time ...
Cristian Diaconescu: PSD is against Rosia Montana project
Thursday, September 27, 2007
The Social Democratic Party (PSD) is against project Rosia Montana and its MPs will vote the draft law forbidding the use of cyanides in the mines in Romania, the PSD spokesman Cristian Diaconescu announced on Monday.He reminded that the mining project on the exploitation of gold ore in Rosia Montana is being contested for years in debates proving its noxiousness.'PSD believes that the variants suggested are unacceptable, both legally and economically, and we will not accept any offer ...
Petrom to set up gas distribution company
Thursday, September 27, 2007
Petrom oil company will establish a new gas distribution company, Petrom Distributie Gaze SRL, which will manage the already existing gas distribution network of Petrom .The company will be formed by transferring assets and employees from Petrom S.A. The decision to reorganise the gas distribution business is in line with relevant European Union directives and Romanian legislation Petrom, the largest oil and gas producer in South Eastern Europe, is undergoing a reorganisation process of ...
Romania wants to reduce greenhouse effect emission with 8 percent over next years
Thursday, September 27, 2007
Romania wants to reduce its greenhouse effect emissions with 8 percent over the next years, after these dropped 40 percent over 1989-2005, said Minister of Environment and Sustainable Development Attila Korodi.'Romania, having ratified the Kyoto Protocol, pledged to reduce its greenhouse effect emissions with 8 percent and got involved over the pat 10 years in a rapid reform at social and economic level, which made the emissions drop 40 percent over 1989-2005,' he said.The main goals are to ...
President Basescu is against establishing a mega-national energy company
Thursday, September 27, 2007
Traian Basescu, the head of the state said on Tuesday, at the end of CSAT meeting, that the energy strategy of Romania for the period 2007-2020 is 'well made,' but there are a few more problems that need to be solved. The first of them is, according to President, the stimulation of the production of biomass, more exactly 'the development of some policies to obtain the biomass.' Basescu stressed in this respect that there are foreign companies which produce biomass on the lands from Baragan, ...
OMV trajectory in Romania: from zero to Petrom's control
Thursday, September 27, 2007
Petrom's privatization was the most difficult such process in Romania, that it is still contested nowadays, reads Ziarul financiar on Wednesday in a commentary that follows the trajectory of Austrian OMV Co. until the takeover of the Romanian oil company.Everything started less than a year since the setting up of the oil company in 1997 and included two privatization attempts. Petrom was included in the privatization program on 1998, the Minister of Industries Radu Berceanu announcing the ...
Rompetrol to invest 10m euros in new oil products warehouse in Sofia
Thursday, September 27, 2007
Rompetrol group will invest about 10 million euros in the construction next year of a warehouse of oil products in Sofia, Bulgaria, with a capacity of 12,000 cubic metres of fuel and 2,400 cubic metres of LPG, general manager of Rompetrol Bulgaria Adrian Acatrinei told a news conference on Wednesday. Rompetrol Bulgaria holds at present an oil products warehouse in Ruse with a capacity of 5,8000 cubic metres. The Ruse-based warehouse is a strategic investment of Rompetrol group in Bulgaria, ...
Hopes revived for stalled Nabucco pipeline
Thursday, September 27, 2007
Germany's RWE and Gaz de France have announced an interest in co-financing the Nabucco pipeline project, which has been delayed due to financing problems and competing Central Asian pipeline deals steered by Russian energy giant Gazprom. Speaking at a Financial Times conference on 14 September, Stefan Judisch, CEO of RWE Gas Midtream, stated his company's willingness to invest €1 billion into the Nabucco pipeline. Gaz de France's CEO Jean-Marie Dauger also expressed the French energy giant's ...