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Energy & Environment
First concrete technical step towards accomplishment of Constanta-Trieste oil pipeline
Thursday, July 12, 2007
The delegates to the Interstate Committee representing the governments of five European countries - Serbia, Croatia, Slovenia, Italy and Romania - on last Thursday signed a protocol preceding the signing of the agreement for the establishment of the company that will develop the Constanta-Trieste pan-European oil pipeline (PEOP); the document was signed under the aegis of the Energy Charter Secretariat and of the European Commission. The protocol signed on Thursday is the first concrete step ...
Suppliers of energy might come with offfers for consumers after issue of European Charter of energy's consumers rights
Thursday, July 12, 2007
Suppliers of electric power might expect the coming into force of the European Charter of the rights of energy consumers before making an offer to individual consumers, Ambassador Donato Chiarini, head of the Representation of the European Commission to Bucharest, told a press conference on Friday.'Some 200 authorizations to supply energy were issued by the National Regulatory Authority in the Energy Field till now, but I don't know how many suppliers have been active. They may be waiting, I ...
Cernavoda nuclear-power plant might be affected by decreasing flow of Danube, says Minister Vosganian
Thursday, July 12, 2007
The drought of late is not endangering the supply of electricity to consumers, but a decrease in the flow of the Danube River may pose problems in August as regards the availability of water for cooling the reactor of the Cernavoda nuclear-power plant.The statement was made by Minister of Economy and Finance Varujan Vosganian at a news conference in Constanta. Vosganian said he suggested electricity producers to establish a market for capacities to secure ready capacities for production ...
Maximum rise in Oil Terminal shares
Thursday, July 12, 2007
In the Friday's session of Bucharest Stock Exchange (BVB), the average quotation of the shares of Oil Terminal Constanta (south-east) rose 14,89%, almost the acceptable maximum, after it was announced on Thursday that Oil Terminal and Conpet will represent Romania in the construction of the pan-European oil pipeline, PEOP Constanta - Trieste.Brokers believe that the company's involvement in this project has nothing to do with the Friday's significant rise on BVB. They consider the real ...
Economy and Finance Minister Vosganian believes floating SNN on Bourse to be more profitable
Thursday, July 12, 2007
Floating the Nuclearelectrica Corporation (SNN) on the stock exchange would be more profitable to the corporation than its privatisation, says Economy and Finance Minister Varujan Vosganian.'In the case of a corporation such as Nuclearelectrica it could be more profitable to make use of issuing securities, because the presence of private shareholders in a corporation generating nuclear energy might lead to discussions, which in their turn require an administrative solution. I believe that in ...
Rompetrol Financial Group planing to buy UniCredit Securities
Thursday, July 12, 2007
IFN FinGroup Credit SA, Rompetrol Group's financial services arm, plans to buy UniCredit Securities, a brokerage company that Unicredit Group put up for sale in early 2007, after the merger between UniCredit, HVB Bank and Tiriac Bank, the company informs. The National Securities Commission (CNVM) will analyse the documentation sent by Rompetrol Financial Group for the acquisition, and issue an opinion within the legal deadline.Holding a brokerage company will enable the achievement of ...
Romania could save energy worth of 3 billion euros every year
Thursday, July 12, 2007
Romania's energy saving potential represents 27-35 percent of the primary energy resources, the equivalent of 3 billion euros a year, the new energy strategy recently drafted by the Ministry of Economy and Finance informs.The strategy also shows that Romania needs some 31 billion euros to rehabilitate the energy system by 2020.The annual consumption of primary energy resources is 36 million tonnes of equivalent oil year and 10 million teo can be saved, the equivalent of 3 billion ...
Cernavoda Nuclear Power Plant's unit 1 marks 11th anniversary since commissioned
Thursday, July 12, 2007
Cernavoda Nuclear Power Plant's Unit 1 marks on Wednesday the 11th anniversary since it was first linked to the national energy system in 1996, Company Nuclearelectrica said in a release to Rompres.On July 11, 1996, Unit 1 of Cernavoda (southeastern Romania) was linked to the national energy system, and it began producing electricity for the national system on Dec. 2, 1996.In the 11 years of operation, Unit 1 has delivered 58.557 million MWh, at an average capacity rate of 88.1 percent.Unit ...
9 million euros investment in nuclear security in Romania
Thursday, July 12, 2007
The European Commission and Romania will invest for nuclear security in Romania almost 9 million euros through the Phare 2006 programme, the latest issue of Eu-RO Newsletter shows. The government approved in its meeting on 4th July through a memorandum the Agreement for financing regarding the Programme of community support in the domain of nuclear security in Romania, 2006. For this programme, financial non-refundable assistance on the part of the European Union worth 7.7 million euros and ...
Report : oil and gas reserves for another 15 years
Thursday, July 12, 2007
Oil and gas stocks of Romania are for another 14,15 years, the report entitled « The energy strategy of Romania during 2007 – 2020 » drawn up by the Ministry of Economy and Finances. The numbers are worrying, but the authors of the report consider that technological development will lead to the discovery of new deposits. In the report drawn up by the Ministry of Economy and Finances it is shown that gas and hydrocarbon deposits are limits. Thus the present oil deposit is of 74 million tons, ...
E.ON wants to buy ElectricaServ
Thursday, July 12, 2007
The German company E.ON lodged a letter of intention to the Ministry of Economy and Finances for the privatisation of the maintainance company ElectricaServ, Ferenc Csulak, deputy manager of E.ON Moldova Distribuie stated on Saturday in Campulung Moldovenesc. ElectricaServ is the company that works out the majority of maintainance works of E.ON Moldova. The decision of the German company comes a the price of ElectricaServ has gone up, thing that led to a reduction of the maintainance works ...
Reactor 2 in Cernavoda nuclear power station will be connected to the electricity grid at the end of July
Thursday, July 12, 2007
Reactor 2 of the nuclear power station in Cernavoda will be connected to the national electricity grid at the end of July when the first quantity of energy will be sent into the system, Nuclearelectrica announced on Wednesday. “ Nuclearelectrica, the operator of the nuclear power station in Cernavoda is ready for a new important moment for the Romanian energy system, the first link to the national grid of unit 2, to be done around 25-30 July” a press release of the company informs. The ...
E.ON Gaz Romania increases its stocks of gas by 28% in 2007
Thursday, July 12, 2007
E.ON Gaz Romania intends to storage in 2007 almost 950 million cubic metres of natural gas, to insure the necessary for the winter period, 28% more than last year, when the stocks where over 740 million cubic metres, the representatives of the company stated for NewsIn in Tuesday. Last year, at the end of storage cycle, E.ON Gaz Romania had in underground storage warehouses almost 740 million cubic metres natural gas, a volume 28% lower than the one established for this year. Storage ...
Petrom builds its own city
Thursday, July 5, 2007
The new headquarters of the company Petrom, which is called Petrom City, will cost 130 million euros and will be located on a 100,000 sq m area north of Bucharest, at Straulesti, reads Ziarul Financiar daily.According to the above-mentioned newspaper, it is a complex made up of five buildings among which there is also 5 MW co-generation plant that will supply electric and thermic power to the buildings. There will also be a car park admitting 1,000 cars. The plot of land at Straulesti ...
European Commission requests explanations as regards Petrom's golden share
Thursday, July 5, 2007
The Romanian authorities on Tuesday received a letter from the European Commission according to which the State Assets Resolution Authority (AVAS) is requested to explain the stipulation of the privatization contract of oil company Petrom regarding the Romanian state's holding of the golden share, sources with the AVAS told Rompres on Wednesday. AVAS says it will send the European Commission an answer about Petrom's privatisation by September. AVAS representatives say they will take all the ...
Electrica grid invests 7M euros in building a new electricity transformer plant
Thursday, July 5, 2007
Electrica grid completed at the end of June a new 110220 kV electricity transformer plant based in the Romanian capital, with the project having required 7 million euros in investments, that was paid from the company's own sources and from a supplier credit, Electrica announced. The plant will supply electric power to the new sites having been built or being currently built in northern Bucharest.The Timpuri Noi 110220 kV transformer plant was achieved in cooperation with ABB Power ...
Ministry of Development to allocate 8.6 million euros for waste management
Thursday, July 5, 2007
According to the release sent by the Ministry of Development, Public Works and Housing, the ministry will allocate 8.66 million euros for tenders to back SMEs' initiatives in waste management.PHARE - Programme for Economic and Social Inclusion 2005 contributes with 6.5 million euros and the Government with 2.16 million euros.Each region will be allocated 1.08 million euros, 0.81 million euros being PHARE funds and 0.27 million euros co-financing from the state budget.The non-reimbursable ...
Diesel with two percent biodiesel on sale in all Rompetrol Downstream stations as of July
Thursday, July 5, 2007
Starting Thursday, June 28, Rompetrol Downstream - the retail division of Rompetrol Grup - introduced in its stations and warehouses network a new diesel type containing two percent biodiesel based on the Efix Diesel sort, informs a Rompetrol group release.This is the second company of the group to supply biofuels after the green E85 Super Ethanol fuel was introduced in May in the distribution stations operated in France (Rompetrol and Dyneff).The new two percent biodiesel blend protects the ...
Government passes EU ‘polluter pays' regulation
Thursday, July 5, 2007
Romania's Government adopted in a meeting on last Thursday the draft Emergency Ordinance on Environmental liability, referring to preventing and repairing the environmental damage, the Ministry of Environment and Sustainable Development (MMDD) newsroom informs.The Ordinance transposes the provisions of regulation No. 200435EC of the European Parliament and the European Council on environmental liability and it aims at establishing a joint framework for preventing and remedying the ...
Projects of 1 billion euros in water management
Thursday, July 5, 2007
The Minister of Environment and Sustainable Development develops projects in water management worth of 1 billion euros, minister Attila Korodi said on Friday during the Danube's Day. 'The Ministry of Environment has 30 projects under development or finalization in water management, worth of 27 million euros. If arrangement works are added, the projects worth 1 billion euros in total for 2007,' said the minister.He reminded about the Master Plan for the sustainable development of the Danube ...