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Energy & Environment
Transelectrica profit rose in 2006 by 3.4 as compared to 2005
Thursday, May 3, 2007
The company in the domain of energy and gas utilities Transelectrica Bucuresti, listed on BVB, obtained last year a net profit of 277.26 million lei ( 82 million euros), 3.4 times more than in 2005, according to the report sent to BVB. In 2005 Transelectrica posted a net profit of 82.38 million lei. The company business advanced last year by 43% up to 2.45 billion lei ( 725 million euros) as compared to 2005, when it was 1.7 billion lei, NewsIn informs. The operational profit was in 2006 of ...
MOL will invest over 23 million euros in Romania, by 2008
Thursday, May 3, 2007
Mol will invest in Romania over 23 million euros, in 2007 and 2008 to improve the distribution network, through the acquisition and construction of at least 15 new filling stations. In the AGM which took place on April 26 in Budapest, MOL shareholders announced investment of 12 million euros for 2007, to improve the filling stations network, through the acquisition and construction of 8 new filling stations, in regions with a low degree of coverage. For 2008, investment of at least 11 ...
RAAN sold energy, in the first forward transaction at OPCOM
Thursday, May 3, 2007
The first transaction on the centralised market of bilateral electricity contracts with continuous negotiation took place on Thursday, 26.04 between the Autonomous Company for Nuclear Activities and Electromagnetica one month and a half after the lauching of the platform. According to OPCOM data, the forward contracts market comprised 88 participants, at present delivery offers could be transactioned starting with week 21 of 2007, including offers for 2008, NewsIn inform. On Thursday, the ...
Minister Vosganian, the new chairman of the Privatisation Commission of Electrica Muntenia Sud
Thursday, May 3, 2007
The government modified the composition of the commission for the coordination of privatisation to Electrica Muntenia Sud as a result of the restructuring of the Government, the commission being presided by the minister of economy and trade Varujan Vosganian. At the same time, among other members in the commission there are AVAS chairman – Teodor Atanasiu, state secretaries in the ministry of economy and finances – Doina Dascalu and Darius Mesca, state secretary in the ministry of ...
CHN ,the biggest debt owner at state budget after the first three months of 2007
Thursday, May 3, 2007
The National Company of Pitcoal ( CNH) continues to be the largest debt owner at the state budget, with debt amounting to 937 million RON at the end of March 2007, according to the list with the big debters, published on the website of the ministry of public finances. According to the quoted sources, CNH benefits from advantages for the payment of debts to the stated. The first three debtors to the state budget are, together with CNH, UCM Resita, with 122.653 million lei as debt, the ...
Romania is ranked 40th as regards greenhouse gas emissions
Thursday, May 3, 2007
Romania reduced by half the greenhouse gas emissions between 1990 – 2000, being ranked 40th among the 50 most polluting countries, according to a list made up by Reuters who uses the most recent data for all countries – 2000. Greenhouse gas emissions were reduced by 49% between 1990 – 2000 to 125 million tons equivalent CO2, but this quantity went on an increasing trend, up to 155 million tons in 2004. On the whole, greenhouse gas emissions in Romania dropped by a third between 1990 – 2004. ...
Petrom invests over one billion euro,in 2007
Thursday, May 3, 2007
Petrom has the intention to build two deposits of natural gas building a second operating centre in Europe and invests this year over one billion euros in Romania and approximately 114 million euros in exploitation and production on an international level, according to the Manager General of Petrom Mariana Gheorghe. The building of one of the two deposits is conditioned by the works on Nabucco pipeline and the second by the discussions with Romgaz, the Manager General stated. “ If Nabucco is ...
EBRD might fund at least two Romanian renewable energy projects this year
Thursday, April 26, 2007
The European Bank for Reconstruction and Development (EBRD) plans to invest at least 400 million euros this year in over 20 projects, notably in the energy and food industries, EBRD country director Hildegard Gacek said .Among the projects targeted by the EBRD there are at least two aimed at the production of renewable energy, EBRD energy director Nadita Parshad announced.'At present, there are three projects for which financing has been requested and two of them stand pretty high chances ...
Petrom changes operation strategy in Kazakhstan
Thursday, April 26, 2007
Petrom has sold out its 95-percent stake in Oztyrk Muni of Kazakhstan, which operates the Sinelnikovskoe oil field, to Kazakh company En-Gip, but it will continue to invest in this Asian country in order to achieve its objectives, says Werner Ladwein of Petrom's executive board concerned with exploration and production.Petrom officials explain that the decision is part of the restructuring of the company's Kazakhstan portfolio that comprises concentrating resources in wide-ranging projects ...
Romania wants to host future EU Regional center for research of environmental change
Thursday, April 26, 2007
Foreign Minister Adrian Cioroianu, on Monday, proposed his counterparts in the EU countries attending the CAGRE meeting in Luxembourg, that the future Regional center for research and action in case of problems related to environmental change, be held in Romania.''The Romanian diplomacy pays all the due attention to this event. I am convinced, based on the analyses made by our ministry, that the issue of environmental change will become, over the next ten years, one of the most important ...
Petrom discusses buying Petromservice
Thursday, April 26, 2007
The biggest Romanian company, Petrom, whose majority shareholder is OMV, might buy the biggest domestic supplier of equipment and services for the oil and gas industry, Petromservice, which was founded five years ago by outsourcing the former oil services subsidiary of Petromserv, which was part of Petrom.In early 2006 Petrom extended the contract on service delivery concluded with Petromservice for seven years, the minimum value of the contract being one billion euros.At present ...
Implementation of National Registry of Greenhouse Gas Emissions
Thursday, April 26, 2007
Over 200 officials of companies carrying out energy activities and operating burning installations with a power in excess of 20 Mgw, as well as of mining companies, pulp and paper and glass companies on Monday attended a seminar on the implementation of the National Registry of Greenhouse Gas Emissions in Romania organised by the National Environmental Protection Agency at Poiana Brasov.The National Registry of Greenhouse Gas Emissions is an electronic database recording all greenhouse gas ...
Lukoil to sell aviation fuel
Thursday, April 26, 2007
Lukoil Romania plans to sell aviation fuel on a market with big domestic and foreign players. The newly set-up company Lukoil Aviation Romania, established by Lukoil Aviation from the Netherlands and Lukoil Aero SRL from Russia will vie against Aviation Petroleum and Petrom Aviation, in which Petrom holds a 95-percent stake, and 48 percent respectively, Air BP and Air Total. Petrom's representatives told daily Gandul that all these companies buy fuel from the oil group. The companies owned ...
Australians plan wind power park in Marasesti
Thursday, April 26, 2007
The local government of Marasesti - Vrancea county (north-east of Bucharest) received a highly tempting offer from an Australian company that plans to leasehold or rent 500 hectares of land near the local Heroes Mausoleum (dedicated to WW I heroes) in order to build a wind-power park, said city mayor Emilian Brasov.The mayor of Marasesti says he saw the blueprint conceived by the Australians and that the project requires investments worth 141 million euros. Company representatives suggested ...
Lafarge Invests 6.5 million euros in two environment devices at cement plant at Hoghiz
Thursday, April 26, 2007
Lafarge Romania inaugurated two environment devices at the cement plant in Hoghiz (center of Romania), Brasov County, with the investment amounting to more than 22.5 million RON, or 6.5 million euros.CEO Lafarge Romania Philippe Quesdiaux said that Lafarge has invested over 350 million euros since 1998. The environment protection investment stood at around 50 million euros, and 50 million euros more are planned to be invested over 2007-2012, Quesdiaux also said.Lafarge, a world leader in the ...
French Group Suez interested in Turceni and Rovinari plants
Thursday, April 26, 2007
The French Group Suez showed interest in the Turceni and Rovinari power plants in Romania, the Minister for SMEs, Tourism and Liberal Professional Ovidiu Ioan Silaghi told Rompres on Tuesday.Some 20 French investors want to enter the Romanian market over the next period, said Silaghi after a meeting with the French businessmen yesterday.He mentioned that Aeroport B Paris wants to buy some Romanian airports and La Poste is interested in a co-operation with Posta Romana.Silaghi said that ...
The number of private filling stations to drop over next years
Thursday, April 26, 2007
The number of filling stations belonging to private owners in Romanian could drop 40 percent over the next 4-5 years.Director of Association of Filling Station Owners Ion Tache said that only 250 filling stations will survive if they manage to reach the standards imposed by the main companies on the market. The Association currently includes 350 owners with 413 filling stations.A fuel filling station costs between 200,000 and 1 million euros, according to the equipment.Some of the main ...
Gov't to discuss privatisation of Electrica Muntenia Sud in three weeks
Thursday, April 26, 2007
The privatisation of the Electrica Muntenia Sud electricity distribution and supply company has entered the finish line and is now awaiting the approval of the Government, daily Gandul writes on Wednesday.According to officials of the State Assets Realisation Authority (AVAS), the draft decision for the selling of EMS to Italy's Enel group will reach the Government in three weeks, at the latest.The transaction, put at 820 million euros, has to be finalised by July 17, or else the ENEL will ...
Romania intends to separate economic development from increase in gas emissions
Thursday, April 26, 2007
Minister of the Environment and Sustainable Development Attila Korodi told the meeting of the environment ministers of the Asia-Europe Meeting (ASEM) member states on Wednesday that Romania's main aim for the years to come consisted in separating the economic development from the increase in the level of the greenhouse gas emissions. 'This is possible through the implementation of coherent policies and measures referring to the energy efficiency, the promotion of the use of renewable ...
Most important energy producers reduce their investment by 16%
Thursday, April 26, 2007
The most important electricity producers in the country, Nuclearelectrica, Hidroelectrica and Termoelectrica will invest in 2007 less than last year, 16% less, according to income and expenditure budgets of the companies published in the Official Gazette. The three energy producers will allocate for investments the total sum of 2.231 billion lei, 16% less than last year, when the respective companies invested 2.643 billion lei. The most important reduction of the investment budget is ...