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Energy & Environment
Enel Italia to take major stake at Electrica Muntenia Sud in July
Thursday, May 31, 2007
The Government authorized Wednesday in a session the Ministry of Economy and Finance and the State Assets Realization Authority (AVAS) to approve the privatization contract of Electrica Muntenia Sud and to appoint a person to sign the contract on Electrica's behalf.'The decision taken is in concordance with the goals of the Governing Programme,' said Premier Tariceanu.He reminded that the tender was organized in 2006. The privatization contract will be signed by July 17, 2007, and Enel will ...
E.ON Moldova interested to privatise Electrica Transilvania Nord and Transilvania Sud
Thursday, May 31, 2007
President of the managing board of E.ON Moldova Distributie Joint Stock Company Ulrich Streibl on Wednesday told a news conference in Targu Mures (central country) that this company is interested in the privatisation of Electrica Transilvania Nord and Transilvania Sud. ‘'At present, five out of eight Electrica companies turned private and three, Electrica Munetnia Nord, Transilvania Sud and Transilvania Nord are still state-run. It is obvious we would like to invest in Transilvania Nord and ...
OMV-Gazprom memorandum, a threat to Nabucco project?
Thursday, May 31, 2007
Russian giant Gazprom and Austrian group OMV have signed a memorandum to jointly control the Austrian natural gas distribution center in Baumgarten in North Austria, Gazprom spokesman Sergey Kuprianov has said, quoted by Reuters. Kuprianov did not say, however, what the role Gazprom will have in the deal.The memorandum was signed by Gazprom CEO Aleksey Miller and OMV president Wolfang Ruttenstorfer during President Vladimir Putin’s visit to Austria.Putin said on the occasion that some 30 ...
Canadian companies are interested in making investments in Romania in oil and gas fields
Thursday, May 31, 2007
The Canadian companies are interested in investing in Romania in oil and gas fields as well as in constructions, according to a release of the Ministry for SMEs, Trade, Tourism and Liberal Professions. Secretary of State with the above-mentioned ministry Iuliu Winkler held talks with the Canadian Ambassador to Romania, Mrs Marta Moszczenka, in the context of preparing a visit to be paid by the Romanian official to Canada.The talks agenda focused on subjects to be approached during the ...
Korodi message to Italy : Romania refuses the storage of waste
Thursday, May 31, 2007
The minister of environment Attila Korodi, restated on Wednesday the firm refusal of Romania to accept to deposit waste from Italy on the Romanian territory, position supported in the meeting with the ambassador of Italy to Bucharest, Danielle Mancini. “ According to negotiations with the European Union during the pre-accession period, Romania obtained the right to refuse to deposit waste coming from other EU countries until 2011, to put to value any kind of waste until 2015 waste to be ...
Government is not willing to subsidize mines' re-opening, says Minister of Economy
Thursday, May 24, 2007
The Government is not willing to subsidize activities of the National Mining Company Remin, stated on last Thursday, in Baia Mare (550 km north-west of Bucharest), Minister of Economy and Finance Varujan Vosganian, showing surprise as for the company's management intention to re-open four of the mines that were closed down at last year-end.'This intention is praiseworthy, but those from Remin administration must know that, once the mines were closed, they no longer benefit of financial ...
Thermo-power stations of Rovinari, Turceni and Isalnita must be privatized as fast as possible, Minister Vosganian says
Thursday, May 24, 2007
The Ministry of Economy and Finance will present the energetic strategy and the privatization formulas for the thermo-power stations of Rovinari, Turceni and Isalnita, said Minister Varujan Vosganian in Cluj Napoca (426 km north west of Bucharest) on Friday. Nothing new that the three complexes went to the Privatization Authority (AVAS), which the Government had planned last year already, Vosganian added.Even then the Government showed readiness to privatize those power stations. ...
Romanian oil mogul Dinu Patriciu to sell part of Rompetrol
Thursday, May 24, 2007
Romanian oil group Rompetrol, the second biggest oil group in Romania, will sell 25% of its shares, a company official stated on Monday. Six companies interested in the transaction have been selected, he said.According to Turkish Daily News newspaper, one of the companies interested in taking over the stake is Socar, an Azeri state-controlled company active in the oil business.The same source says Socar is due to sign a contract with Rompetrol to supply Dinu Patriciu's group with up to 1 ...
Varujan Vosganian: Energy price will not go up in 2007
Thursday, May 24, 2007
The energy price will not go up in 2007, said Minister of Economy and Trade Varujan Vosganian in an interview published by daily 'Evenimentul zilei' on Tuesday.The minister says that methane gas will probably have a zero growth in price in 2007, while the electricity, after being increased in April, will maintain its current price.He said that the price of electricity depends on the gas price and on the hydrological output. Moreover, the Cernavoda-based nuclear plant is expected to make ...
Possibilities for Romania - Black Sea and Caspian countries energy cooperation
Thursday, May 24, 2007
Romanian and Black Sea and Caspian businesses will be able to cooperate in the sectors of energy, agriculture, environmental protection and trade via the non-governmental organization 'The Union of Black Sea and Caspian Confederation of Enterprises (UBCCE),' Mihai Manoliu, secretary-general of the Alliance of Romanian Employers Confederations (ACPR) and member of the European Economic and Social Committee told Rompres on Wednesday. 'This organization - UBCCE - was established at the ...
Debates on Energy Strategy to start next week
Thursday, May 24, 2007
Debates with the representatives of employers' associations, trade unions and political parties on the Energy Strategy Project will start next week, said on Wednesday the Minister of Economy and Finance Varujan Vosganian.'The draft to include the sums, the stages planned until 2015 and the measures to be taken will be ready within two weeks,' said Vosganian.He said that energy companies Hidroelectrica and Nuclearelectrica will either merge with other energy centers or remain independent.'We ...
Azeri oil group interested in Rompetrol
Thursday, May 24, 2007
Azeri energy company Socar is interested in buying a stake in Romanian oil group Rompetrol as the two parties are working on a deal by which Socar would supply some 1 million barrels of oil monthly to Rompetrol, Reuters informs.The news comes as Rompetrol president Dinu Patriciu announced in late March that he was holding talks with six companies interested in taking over a minority state in the group through a capital boost that would allow the investor to take over between 10-25% of its ...
MOL is ready to acquire in Romania
Thursday, May 24, 2007
The MOL Hungarian group has the intention to expand on the market of fuels and gas in Romania, Romgaz being the most important target to be taken over. MOL is interested in acquiring Romgaz, which is considered “ a business opportunity suitable to the group strategy” but it does not exlude the possibility of evaluating the opportunities offered by some small gas producers, the general director of MOL Romania Zsolt Szalay stated for NewsIn. “ We are waiting a decision of the authorities ...
Bio-diesel – possible subject for Polish investment in Romania
Thursday, May 24, 2007
Eurologystika s.a., Poland-seated company, is interested in the potential of the bio-diesel market in Romania, as have stated the representatives in the company during a meeting they had in Bucharest. Preoccupied to find the best solutions for undertaking the community requirements regarding the environment, through generation of bio-diesel, in parallel with the production of fuels and diesels, the Polish company wants to put to value the potential for refinery of Romania, estimated at 30 ...
Mittal Steel Galati to invest 50 million dollars in environment protection in 2007-2008
Thursday, May 17, 2007
Mittal Steel Galati Co. is to invest in the period 2007-2008 some 50 million dollars in environment protection, according to the company's general manager Augustine Kochuparampil.'We have identified 13 investment programs for the period 2007-2008 and we estimate the needed investments at 50 million dollars. We are in the stage of identification of investment projects in line with the European Union rules, ahead of the end of 2014', announced the official of Mittal Steel Galati ...
LPG market giants starts gulping down competitors
Thursday, May 17, 2007
Specialists have noticed that liquefied petroleum gas (LPG) sales have started gaining ascendance over other types of motor fuels, daily Adevarul reports on Thursday.The main players on the Romanian LPG market are regrouping themselves and competition for market shares is getting increasingly tougher.After Shell has pulled out of the LPG segment, Petrom promises to become the largest LPG player in Romania. Petrom's objective to win a 30-percent market share, from a ...
Electrica Banat and Dobrogea restructuring costs: over 3m euros
Thursday, May 17, 2007
The restructuring process undertook by Italy's Enel, the only power group owning 2 electricity distribution companies domestically, generated 3 companies and a team of 500 energy "salesmen", the largest there is on the domestic market. "There were 20 work groups including more than 60 Romanians who, together with Italian specialists thought out the restructuring of the two companies," says Matteo Codazzi, CEO with Enel Romania. Enel is the first foreign investor that ...
Rompetrol to open ten petrol stations on French motorways in 2007
Thursday, May 17, 2007
The group Rompetrol NV opened its first petrol station in France, started distributing bioethanol and intends to open another ten petrol stations on the French motorways by the end of 2007, according to a release of the above-mentioned company.The group plans to equip about 30 filling stations for the distribution of Super Ethanol E85 on the biofuel market by the end of 2007.The petrol station mentioned before is open in the French network of motorways at Arzens, near ...
Turceni and Rovinari power complexes might be put up for privatization early next year
Thursday, May 17, 2007
The State Assets Realization Authority (AVAS) might put up for privatization the power complexes of Turceni and Rovinari, early next year, AVAS president Teodor Atanasiu announced when having visited both companies late last week.'In AVAS's view, the takeover of the two energy complexes does not mean that the privatization starts tomorrow. A power complex of such a magnitude and economic importance cannot be sold in two months. We want to analyze all the existing problems at the ...
Petrom finds natural gas and condensed gas in Adjud
Thursday, May 17, 2007
Petrom Co. has found in Adjud (eastern Romania) natural gas and condensed gas by using high tech, and production is to begin in end 2007 or early 2008, the company said.The infrastructure allows accelerated use of the reservoir, with a daily production of 130,000 cu m of natural gas and 11 tonnes of condensed gas possible in the area, according to estimates.Well 570 Tocesti was drilled in late 2006, at 2,986 m depth.'We intend to begin the development stage ...