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Energy & Environment
Transgaz posted 27 million euro profit in Q1, 2007
Thursday, May 10, 2007
Transgaz Medias (central Romania) included in the state portfolio posted a net profit of 27 million euros in Q1 of 2007, up 68 percent against the 16-million euro profit recorded in the same period of 2006, according to company data.The revenues derived from exploitation accounted for 83 million euros, some 36 percent more than in Q1 of 2006. They were mainly generated by the natural gas transport, their level amounting to 199 million lei (58.5 million euros).On the other hand, the company ...
Bioethanol factory to be built in Iasi
Thursday, May 10, 2007
A bioethanol factory will be built in Iasi (east) by a Dutch and American firms, which will invest 50 million dollars in this project. The bioethanol will be obtained from maize and wheat. Eugen Eculescu, president of Romanian Agricultural Mechanics' Association, says he has discussed with the representatives of the two companies on this project, and the American side has already agreed on the investment. Eculescu says the bioethanol factory will have a capacity of 300,000 tonnes. Maize and ...
Romania backs expansion of Internal Electricity Market, says Varujan Vosganian
Thursday, May 10, 2007
The expansion of the Internal Electricity Market is one of the European Union's objectives strongly supported and promoted in Romania, said Economy and Finance Minister Varujan Vosganian at the Euro-Asian Economic Summit held in Istanbul. Minister Varujan Vosganian reconfirmed on this occasion Romania's stand of support of the objectives set by the European Commission's package of energy measures adopted in January 2007. Vosganian said that the main outcome of this regional cooperation ...
Over 1.75 million shares of Petrom traded in 2006
Thursday, May 10, 2007
The number of Petrom shares traded last year on the Bucharest Stock Exchange stood at 1.75 billion, on December 19, 2006, the capitalization of Petrom accounting for 43.6 percent of the overall capitalization of BVB, according to the company's annual report. Traded freely on the stock exchange are 6.21 percent of the shares, this package being held by 500,000 investors. As of April 2006, the social capital of Petrom is of 5.664 billion lei divided into 56,644,106335 shares with a ...
Romgaz eying to participate in projects for natural gas exploration and production in other countries
Thursday, May 10, 2007
Natural gas maker Romgaz Medias (central Romania) plans to participate in projects for natural gas exploration and production in Hungary, Ukraine, Bulgaria, Serbia and the Middle East. On the other hand, Romgaz is examining the proposal of the Canadian company EnCana, which unfolds activities of exploration, productions and trade of oil and natural gas in the United States and Canada, with a view to exploring and extracting natural gas from some deposits situated in northern Transylvania ...
Rompetrol Group posts 1.24 billion dollars in turnover in first three months of 2007
Thursday, May 10, 2007
Rompetrol Group NV reported in the first quarter of this year a turnover of approximately 1.24 billion dollars and an operational profit (EBITDA) of 41 million dollars, compared to 8 million dollars in the similar period of 2006, the company announces in a press release.Turnover of Rompetrol Rafinare subsidiary surged in the first quarter by 32 percent, compared to the similar period in 2006, amounting at 664 million dollars. According to this release, this surge has been the effect of the ...
Romanians' electricity consumption grows 5.6 pct in Q1
Thursday, May 10, 2007
The Romanians' electricity consumption grew 5.6 percent in the first quarter of this year, while public lighting consumption dropped 2.5 percent, show figures made public by the National Institute of Statistics on Monday.The final electricity consumption Jan. to March was 13.241 billion kWh, by 0.7 percent higher than in the same period of 2006. The consumption in the economy accounted for 64.2 percent of this amount, the population's consumption accounted for 15.3 percent, the producers' ...
Statistics : Energy resources down 3.8%-5.9% in Romania in Q1 2007
Thursday, May 10, 2007
The primary energy resources (production and import) and electricity resources dropped by 3.8% and 5.9% respectively in the first quarter of 2007, compared to the same period last year, the National Statistics Institute says in a press release .The release says the main primary energy resources - coal, crude and natural gas - totaled 10.5 million tons in oil equivalent, down 409,000 tons compared to Q1 2006. The trend was caused by domestic production (down 6.7%) and a 0.6% boost of ...
Second reactor of Romania’s sole nuclear plant in Cernavoda goes on stream after delay
Thursday, May 10, 2007
Cernavoda Nuclear Power Plant's reactor 2 reached the critical mass (the smallest amount needed for a chain reaction to take place) at 11:25 p.m. on Sunday, after the National Commission for Nuclear Activities issued the required authorisation, nuclear energy utility Nuclearelectrica announced. The second reactor of Romania’s sole nuclear plant in Cernavoda was started nearly two weeks later than initially scheduled, on delays in processing the necessary paperwork, the local NewsIn ...
Foradex Bucuresti for privatisation
Thursday, May 10, 2007
AVAS got for privatisation a package of 84.34% of the Foradex Bucuresti company, a press release of the AVAS informs. The company will be privatized through negotiation on the basis of final bid, improved and irrevocable. Investors can present participation documents, together with financial and technical bid by June 14th. To participate in the negotiation it is compulsory to acquire the dossier of presentation, whose value is 13,200 lei. Foradex Bucuresti, whose activity is the production ...
OMV claims they did not acquire Petromservice
Thursday, May 10, 2007
The OMV company denied the information included recently in the Evenimentul Zilei daily, according to which they signed an agreement regarding the acquisition of Petromservice, NewsIn informs. According to the quoted sources by Evenimentul Zilei, during the previous week, Liviu Luca, chairman of Petromservice, together with his counselor Sorin Ovidiu Vantu and OMV chairman Wolfgang Ruttenstorfer signed an agreement through which OMV acquires a part of Petromservice. Petromservice was set up ...
Oil Terminal will be part of the Constanta-Trieste oil pipeline consortium
Thursday, May 10, 2007
The company Oil Terminal Constanta, listed on BVB, will be part of the consortium of participating states in constructing the panEuropean oil pipeline Constanta Trieste, stated for NewsIN Mircea Taiss, the head of development programmes of the company. “ On 3-4 July, there will be meetings at Oil Terminal headquarters in Constanta between the representatives of the five states, participating in the construction of the panEuropean oil pipeline Constanta –Trieste to put together and sign the ...
Turceni and Rovinari will privatise after the energy strategy has been drawn up
Thursday, May 10, 2007
Privatisation of Turceni, Rovinari and Craiova will take place after the drawing up by the ministry of economy of the energy strategy, is the conclusion of the meeting between AVAS head and the representatives of the tradeunions and trade unions blocs BNS and Cartel Alfa. According to a press release by AVAS quoted by NewsIn, the chairman AVAS Teodor Atanasiu, met on Monday with representatives of National Trade Union Confederation ALFA, the National Trade Union Bloc – BNS, as well as trade ...
Romania finalises Regional Plans for Waste Management
Thursday, May 3, 2007
Romania has finalised its Regional Plans for Waste Management, already in force after having been published in the Official Gazette, the Environment and Sustainable Development Ministry (MMDD) says in a press release.The population will be taught how to select and deposit waste separately, the release explains. At the same time, the whole quantity of waste will be collected and the flow of the separately collected waste improved, all uncontrolled waste storage facilities will be shut down ...
Waste management projects in value of 8.67 million euros
Thursday, May 3, 2007
In 2007, the Ministry of Environment and Sustained Development (MMDD) is to launch an investment plan in the field of waste management, to be implemented in the framework of Phare Economic and Social Cohesion Programs (Phare CES) addressed to small and medium-sized enterprises (SMEs), the allocated amount being of 8.67 million euros, MMDD sources told Rompres. From this amount, 6.5 million euros represent Phare funding and 2.17 million euros contribution from the state budget. The two plans ...
In Ankara, Prince Radu discussed Romania and Turkey's energy joint projects
Thursday, May 3, 2007
Prince Radu, special representative of Romania's Government, accompanied by Princess Margareta of Romania, was on an official visit to the Republic of Turkey over April 24-29. At the headquarters of Turkey's Parliament in Ankara Prince Radu met Minister of Energy and Natural Resources Hilmi Guler, with whom he discussed Romania and Turkey's joint projects such as the project of making a network for carrying electric power by means of electric submarine cable, informed the office of the ...
CCIB and CNR-WEC sign cooperation protocol on energy policies
Thursday, May 3, 2007
The Chamber of Commerce and Industry of Bucharest (CCIB) and the Romanian National Committee of the World Council of Energy (CNR-WEC) signed a cooperation protocol for the active adjustment of Romania's energy policies to the major options and tendencies worldwide, reads a release . Another priority on the joint agenda of both institutions is aimed at establishing close relations with the economy, along with approaching the environmental protection issues.In the context, surveys will be ...
Environment minister demands car tax money
Thursday, May 3, 2007
The Environment Minister, Attila Korodi, stated during an environmentalists' meeting, that the money collected from the cars’ first registration tax should be entirely transferred to his Ministry, so that the funds would be used only for environmental protection.“We’re currently negotiating with the Finance and Economy Ministry, in order to agree on a legal ordinance to allow the car tax collection to be transferred to environmental projects”. Korodi said, adding that the current for of ...
Statkraft, new player on Romanian electricity market
Thursday, May 3, 2007
Norwegian company Statkraft dealing with the production of electricity from renewable sources and electricity trade will receive next week the license for electricity supplier on the Romanian market, daily Romania libera quotes the company's manager Dietmar Goldmann as saying. Goldmann said that Romania has an important potential for the production of electricity. He said that Statkraft will sell electricity in the next two-three years, and it will study the market meanwhile and subsequently ...
Romania will draw investment of 700 million euros in the wind energy production
Thursday, May 3, 2007
Romania will draw during the following 2 – 3 years, investment of almost 700 million euros in production capacities for wind energy, the vicechairman of the Commerche and Industry Chamber of Romania (CCIR) Nicolae Vasile stated. According to the CCIR official, Romania has all the assets to become an important actor on the market of electrical energy produced out of wind energy, according to NewsIn. The vicechairman of CCIR said that, during the next 2 or 3 years, several companies in the ...