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Energy & Environment
Speaker Olteanu asks for declassification of Government's contracts with Rosia Montana Gold Corporation
Thursday, July 5, 2007
Speaker of the Chamber of Deputies Bogdan Olteanu informed on last Saturday that a parliamentary inquiry committee will investigate the contracts concluded by the Romanian Government with Canadian Gold Corporation for the development of a project for the quarrying of gold and silver reserves of Rosia Montana.He also asked that such contracts be declassified, arguing that they should become public.Olteanu attended on Saturday the opening of an information centre at Rosia Montana set up by ...
CEZ Romania intends to participate also in other energy distribution privatizations
Thursday, July 5, 2007
CEZ Romania intends to participate in the energy distribution privatizations, by voicing interest in bidding for Electrica Muntenia Nord, Electrica Transilvania Sud and Electrica Transilvania Nord, reads a company's release .CEZ is the majority shareholder of Electrica Oltenia (south), the biggest out of the eight branches of electricity distribution held by Electrica, serving seven counties - Arges, Dolj, Gorj, Olt, Mehedinti, Teleorman and Valcea.Moreover, the company analyzes the ...
Economic operators must trade diesel oil containing at least 2 pc biofuels from July 1
Thursday, July 5, 2007
The Romanian economic operators must sell, from July 1, only diesel oil containing 2 percent biological ingredients, so as to meet the European regulations in the field, adopted by Romania too.The European Commission issued in 2003 a directive according to which all the EU member states were to introduce on the fuels market at least 2 percent of biological fuels by Dec. 31, 2005. The proportion was supposed to reach 5.75 percent by 2010.According to the regulations in force, the proportion ...
WEEE management tax to be incorporated in prices for household appliances
Thursday, July 5, 2007
Starting with July 2, Romania makers and importers of electric and electronic household appliances will be levying a 'green stamp tax 'for the management of Waste Electrical and Electronic Equipment (WEEE) that will be incorporated in the price of such products. The green stamp tax will be paid into the accounts of the RoRec Association, which comprises the main Romanian makers and importers of electric and electronic equipment and manages electronic waste, from collection to recycling.The ...
Economy minister: Upgrading of electricity distribution lines, a 1.5 billion euro investment
Thursday, July 5, 2007
Eight Romanian electricity distributors are preparing an investment programme for upgrading the electrical lines, that will be concluded by 2012 on some 1.5 billion euros worth of investments.'We plan to end the upgrading of the electricity distribution lines by 2012. Romania will shortly have a five-year programme for the upgrading of these lines, worth at least 1.5 billion euros. The proper amount is two billion euros, in my opinion', Economy Minister Varujan Vosganian said at a meeting ...
5.92% of Rompetrol Well Service sold for 3.5 million euros
Thursday, July 5, 2007
Stock representing 5.92% of the entire capital at the Rompetrol Well Service oil company was sold on Wednesday at the Bucharest Stock Exchange through four special transactions on the "Deal" market. The total value of the transactions added up 11 million RON, meaning some 3.5 million euros.The 5.5 million Rompetrol Well Service shares we sold for 2.01 RON per share, 12.23% less than the quote at the end of today's session.In June, the Rompetrol Group sold 13.4% of the capital at Rompetrol ...
Reactor 1 at Cernavoda to stop activity if Danube's level further drops
Thursday, July 5, 2007
Reactor 1 of Cernavoda nuclear plant could be shut down after August 15 if Danube's flow further drops, said on Tuesday in a press conference the Minister of Economy and Finance Varujan Vosganian.'There is a risk that reactor 1 may be shut down if Danube's level further drops but that might not happen. The Ministry must take all measures to produce additional electricity if unit 1 stops activity,' said Vosganian.He told the energy producers to be prepared to produce extra energy and the ...
EON Gas Romania separates supply and distribution activities
Thursday, July 5, 2007
EON Gas Romania has separated supply and distribution activities as of 1 July, two independent companies resulting from the process – EON Gas Romania and EON Gas Distribution. In both companies the Romanian state is a shareholder through AVAS with 37% of shares and Property Fund with 12% of shares. EON Gas Romania is a company specializing in supplying and selling natural gas and will be based in Targu Mures. EON Gas Distribution is specialized in the transport of natural gas, the operation ...
Oil Terminal Constanta aims for first Stock Exchange category
Thursday, July 5, 2007
Oil Terminal Company wants to be promoted in the first category of Bucharest Stock Exchange. Company shares are quoted in the second BVB category under the OIL symbol. The company forwarded the application and the documentation needed to be promoted in the first echelon of the Exchange. The brokerage company handling the promotion is Central European Investments. “At the beginning of the year we proposed our promotion in the first category and we consider now is a good time. We hope the ...
Meeting of interstate committee for Constanta-Trieste oil pipe project
Thursday, July 5, 2007
The interstate committee for the construction of Constanta-Trieste oil pipe project will assemble on Thursday, July 5, in Constanta to discuss about the establishment of a company to develop the project.The committee is made up of members of the Serbian, Croatian, Slovenian, Italian and Romanian Governments.Director of Oil Terminal Mihai Lupu said that the company to be established will make a feasibility study, buy the terrain and obtain the necessary permits.The Constanta-Trieste oil pipe ...
Experts disagree on EU energy market liberalisation
Thursday, July 5, 2007
On 26 June, panellists from a range of sectors debated the role of regulation, fiscal incentives, consumers and other issues related to the transformation of the EU's energy market in light of climate-change and energy-security concerns.The event was part of an annual Energy Europe conference organised by the Brussels think-tank Friends of Europe Participants included Robert Amsterdam, lawyer for former Yukos chief Mikhail Khodorkovsky, Claude Mandil of the International Energy Agency (IEA) ...
ANRE to further regulate electricity tariffs until 2010
Thursday, July 5, 2007
The tariffs already established for electricity will be maintained until 2010 even if the electricity market was fully deregulated on July 1 2007, daily Bursa quotes Vice President of National Regulatory Authority in Energy (ANRE) Nicolae Opris as saying.'We have decided to maintain the current tariffs until 2010 and we will attempt to make the population choose their operators, as the regulator must disappear and prices established by the market,' he said.The main advantage of market ...
Deregulation of electricity and natural gas market as of July 1
Thursday, July 5, 2007
The citizens of the EU states, Romania included, can choose their electricity and natural gas provider as of July 1, when the European directive on energy market deregulation comes into force.The member states decided how to implement the provisions of the directive.'The European Commission believes that the deregulation of energy market is the best way to avoid the interruptions in energy supply to population and allow citizens to benefit from energy resources at reasonable prices,' EC ...
Non-repayable funds worth 20 million euros to be injected in improving energy efficiency
Thursday, June 28, 2007
Romanian Economic operators and local authorities wanting to develop projects to improve energy efficiency will qualify for non-repayable funds worth some 20 million euros in 2007, Deputy Director General of the Energy Policy Department of the Economy and Finance Ministry (MEF) Felicia Racasanu, told a recent seminar on the accessing of structural funds for energy.In order to access non-repayable funds, applicants will have to come with mature projects to support investment in installations ...
Petrom has oil and gas reserves worth 10 billion dollars
Thursday, June 28, 2007
The oil and gas reserves of the biggest Romanian company, Petrom, are currently worth 9.53 billion dollars (7.1 billion euros), and are the most valuable asset of the company, reveals an analysis report of the oil sector in Central and Eastern Europe put together by Austria's Raiffeisen bank. The evaluation is conservative, the bank's analysts say, with the reserves possibly worth more, daily Ziarul Financiar writes on Tuesday. The two refineries of Petrom are appraised at 2.3 billion euros ...
Investments necessary for rendering Romanian energy system more efficient amounts to $2.7 billion, estimates Nicolae Danila
Thursday, June 28, 2007
In order to render Romanian energy system more efficient, investments worth $2.7 billion are needed, CEO of the Romanian Commercial Bank (BCR) Nicolae Danila on Tuesday said at the conference ‘'The biggest players in economy.''‘'I estimate the investments necessary for rendering the energy system in Romania more efficient amounts to $2.7 billion,‘' said BCR's CEO Nicolae Danila. Nicolae Danila also said that areas of interest for investments are industries with export potential, such as oil ...
ENEA wants to offer credibility to Romanian clean energy projects, in the context of EU fund absorbtion
Thursday, June 28, 2007
ENEA Italian National Agency for the New Technologies, Energy and Environment , the Black Sea University Foundation and the Romanian Agency for Energy Preservation (ARCE) plan to open in Romania a research platform that should strengthen the proposal of some projects in the field of energy and environment, in order to ease the absorption of EU funds.''We want that the ENEA center in Bucharest becomes operational in one month at the most and we are confident that the partners in Romania will ...
Govt adopts decision on shutdown and ecologization of 88 mines and quarries
Thursday, June 28, 2007
The Government adopted on Wednesday a decision on the conservation, final shutdown and ecologization of 88 mines and quarries belonging to companies, national companies in the mining sector.The decision was taken after technical analysis and consultations held with the trade unions and employers' associations.The draft law allocates funds from the state budget to shut down and make ecological 88 mines and quarries belonging to National Company Huila Petrosani, Remin Baia Mare, Minvest Deva, ...
MOL Romania and Dacia conclude promotion contract
Thursday, June 28, 2007
MOL Romania Co. and Automobile Dacia car maker in Pitesti signed a contract reading that the former will yearly supply the latter 2 million liters of gas and diesel, starting this June, to fuel the newly sold cars, for the first time, MOL Romania president Zsolt Szalay informed .It is normal the cars should drive out of the production line with minimal fuel, Dacia representative Sorin Sepciu told ROMPRES, but he failed to specify the quantity of fuel to be pumped into the tank, before a ...
Prague and Bratislava to host EU nuclear energy debates
Thursday, June 28, 2007
The EU Nuclear Energy Forum (ENEF) is to meet twice annually and will be organised jointly by the Czech Republic and Slovakia. It is intended that the forum should encourage renewed discussion and debate on the future of nuclear energy in Europe.The Czech Republic and Slovakia agreed to establish the EU Nuclear Energy Forum, placing their proposal in the conclusions of the March 2007 European Council. However, until last week, it was not clear which of the countries would host the meeting. ...