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Energy & Environment
Electrica will invest 140 million euros for the development of the grid
Thursday, April 19, 2007
Electrica will invest over 140 million euros in 2007 to construct new electricity grids and to modernise the existing ones, the privatisation manager Catalin Stancu stated. “ In 2007, we will invest over 140 million euros for the construction of new grids and the rehabilitation of the existing ones” Stancu said. According to him, for the next three-four years, Electrica will develop production capacities with power of over 400 MW. “ We will spend over 200 million euros to build energy ...
Hidroelectrica lost 47 million dollars in favour of Energy Holding
Thursday, April 19, 2007
Hidroelectrica lost between 2004 and 2005 approximately 47 millions of dollars in favour of Energy Holding, after selling electricity for a price lower than the costs of production, according to the resolution of the prosecutors, the basis for criminal investigation in the Energy Dossier. According to the resolution in the lawcase, the average price for energy acquisition by Energy Holding was 65.4 leiMWh in 2004, lower than the average production cost registered by Hidroelectrica of 83.9 ...
Investors for the reactor 3 and 4 to be found
Thursday, April 19, 2007
Procedures for the selection of investors for the construction of reactors 3 and 4 in Cernavoda will be resumed in a few weeks after the Governent adopts the draft law, according to the minister of economy and finances Varujan Vosganian. According to him, the procedures of selecting investors will be resumed after the government adopts the draft law.” In a few weeks we will discuss this draft law in the government. At present there is no list of investors, short or long. We decided to ...
Romania risks sanctions for the European Commission due to high pollutants
Thursday, April 19, 2007
Big companies in the chemical and metallurgical industries could determine the European Officials to start the infringement procedure if they do not accelerate the implementation rhythm of Directive IPPC, according to the minister of environment Attila Korodi. The infringement procedure is the mechanism through which the European Commission can penalize a member state if it does not comply with his pledges through negotiations. The case of the respective country reaches the European Court ...
Only 27% of ISPA funds for the environment were spent
Thursday, April 19, 2007
The minister of the environment Attila Korodi stated for NewsIn that out of the 1.5 billion euros ISPA funds for the environment only 435 million euros was spent, the deadline for money contracts being 2010 inclusively. The ISPA contracting was made of 60% and the funds spending is only 27%. As regards the environment projects undertaken by local authorities out of 10 towns through funds allocated out of the state budget, they were received from the state budget as non-refundable funds of ...
Moldomin and Cuprumin taking over contract to be signed shortly
Thursday, April 19, 2007
The minister of economy could sign a note for the signing of a contract with a consortium led by Cuprom for investment of 270 million euros with Moldomin and Cuprumin, the general manager of the Department for mineral resources Sorin Gaman said. According to him, Cuprom pledged to invest in Moldomin almost 120 million euros and in Cuprumin another 150 million euros. The consortium led by Cuprom won the bid organized by MEC in September 2006 to take over the non-ferous mines in Abrud and ...
Romania will release several mining areas
Thursday, April 19, 2007
The National Agency for Mineral Resources (ANRM) could release several mining areas at the request of investors in Australia, Chile, Brasil, Finland and Italy, interested to lease mining areas in Romania, according to the general manager of the Department for mineral resources in the ministry of economy and finances, Sorin Gaman.” I’ve received from embassies in countries such as Chile, Australia, Brasil , Finland, Sweden and Italy several collaboration intents in mining exploitations. I ...
Black Sea oil pipeline to start flowing by 2012
Thursday, April 12, 2007
Five southern European countries and the Commission signed a declaration on 3 April 2007 to build a pipeline to bring oil from the Black Sea to central European markets by 2012, in a move aimed at reducing the EU's energy dependence.The agreement to link the Black Sea port of Constanta (Romania) and the oil hub of Trieste (Italy) was signed in Zagreb by ministers from Italy, Croatia, Slovenia, Serbia and Romania and Energy Commissioner Andris Piebalgs. The pipeline is expected to be ...
Gazprom and Conef sign deal on gas supply to Romania by 2030
Thursday, April 12, 2007
Gazprom state owned company, the leading natural gas producer, and Romanian operator Conef Energy signed on Wednesday evening a deal to supply Romania natural gas over 2010-20130, the international press agencies inform.Romania will receive annually two billion cubic metres of natural gas and 42 billion cubic metres over the entire period.Conef Energy is a branch of Nonef, part of Marco Investment and Industries Group, an international company controlling an aluminum holding, including ALRO ...
Danube hydroelectric power plants produced 2 million kW-hours this year
Thursday, April 12, 2007
Since the beginning of the year, the 'Iron Gates' hydropower system (west) supplied 2 million kW-hours into the national energy grid. Teodor Pavelescu, manager of the 'Iron Gates' branch of SC Hidroelectrica, on Friday told news agency Rompres that the respective output is the result of the functioning at rated capacity of the 6 power-producing units of the 'Iron Gates I'- that had their power output increase from 175 to 194.4 MW following upgrading works - and of the 9 'Iron Gates II' ...
Budgetary deficit in excess of 2 million euros in natural gas field, in 2007
Thursday, April 12, 2007
National Regulatory Authority in the Natural Gas Field - ANRGN has provided in its 2007 revenues and spending budget a deficit of 6.898 million lei (some 2.07 million euros).The company's overall revenues are estimated at 13.149 million lei (some 3.94 million euros) and spending at 20.047 million lei (some 6 million euros). Staff spending is predicted to reach a level of 11.29 million lei (almost 4 million euros), of which 8.563 million lei (some 2.5 million euros) represent spending ...
Increasingly more foreign companies plan building steam power plants in Romania
Thursday, April 12, 2007
Increasingly more foreign companies have lately expressed interest in investing in electricity production capacities in Romania, specifically in steam power plants, daily Cotidianul writes on last Tuesday. The most recent such announcement came from Austria's Verbund, that plans to invest 250 million euros in a new energy unit with an installed capacity of 400 MW, at the Iernut steam power plant (center). Germany's Siemens also seems interested in the same project, even if company ...
Petrom to invest over 80 million euros in modernization of Petrobrazi refinery by 2010
Thursday, April 12, 2007
Petrom will invest approximately 80 million in the modernisation of Petrobrazi refinery, according to figures supplied by the company. Following the modernisation, the refinery will produce Euro 5 Diesel oil with low concentration of sulphur, according to the European Union's environment and quality regulations. The first component of the installation, part of the investments bound for the modernisation of the Petrobrazi refinery has reached the Oltenita port at the Danube river and it will ...
Petrom estimates a 24 percent drop in profit
Thursday, April 12, 2007
The biggest Romanian company Petrom estimates a net profit of 197 million euros for this year, down 24 percent against 2006, at a turnover of 3.1 billion euros, down 16 percent against the one in 2006.The turnover included in the company's budget for this year does not include excises.The estimations are included in the company's budget of revenues and expenses for 2007, which is to be submitted to the approval of the company's shareholders in a meeting set for April 17.Despite estimations, ...
OPCOM to become regional stock exchange, in summer
Thursday, April 12, 2007
The OPCOM local energy market operator of Romania will become a regional stock exchange this summer and will no longer operate under the authority of Transelectrica, after electricity market operators from countries such as Greece and Bulgaria buy shares in OPCOM.A lawyer team are drawing up a legal strategy whereby the Romanian electricity market operator OPCOM will no longer be answerable to Transelectrica, and the document is expected to be completed this spring.When OPCOM becomes a ...
Hidroelectrica, almost to losses in 2006 due to the drought
Thursday, April 12, 2007
Hidroelectrica was, in 2006 almost on the verge of losses to honour its contracts having to buy electricity more expensive from Termoelectrica, sources in the energy market informed the NewsIn agency. “ Hidroelectrica has, for example, export contracts to sell electricity at 90 leiMWh. Due to the drought, they could not produce energy to honour these contracts and they bought from Termoelectrica where, on average, one MWh was240 Lei” the sources explained. According to them, due to ...
« Portile de Fier » file to DIICOT
Thursday, April 12, 2007
The department for investigation of organised crime and terrorism (DIICOT) started the hearing of the people involved in the Portile de Fier file, the general manager of Hidroelectrica Traian Oprea and the chairman of the Regulatory Authority in the domain of energy, Nicolae Opris. It is all about the modernisation of the power stations in Portile de Fier which were approved by three governments. The story started in 1997during the government led by Victor Ciorbea and when the present ...
Electrica Oltenia becomes CEZ Distribution
Thursday, April 12, 2007
CEZ Electrica Oltenia will change its name to CEZ Distributie after the shareholders approved the separation of the two types of activities by the company, distribution and supply respectively in order to answer the requirements of the European Union. Following the process of separation of the activities, there will be two companies CEZ Distributie and CEZ Vanzare SRL. CEZ Distributie SA will continue their distribution activities and CEZ Vanzare will supply energy. The first companies will ...
Electrical energy resources had an annual drop of 6.7% for the first two months
Thursday, April 12, 2007
Electrical energy resources dropped by 6.7% for the first two months of the year as comapred to the same period of 2006 and the resources of energy were reduced by 0.5% over the same interval, the National Institute for Statistics (INS) showed. The main energy resources over the period 1.I – 28.II.2007 reached 7112.4 thousand tons equivalent oil (tep) dropping by 33.4 thousand tep, 0.5% as compared to the same period of 2006, respectively, INS informed. Domestic production reached 3978.7 ...
Electrocentrale on the verge of bankruptcy
Thursday, April 12, 2007
Electrocentrale Bucuresti is in danger of banckruptcy if increase of price up to 121 leiGcalorie is not put into practice, required by the cogenerator of thermal energy, officials appreciated. The manager of Electrocentrale Irina Duica stated on Wednesday on a TV channel that “ the company will go to bankruptcy if the price increase is not approved and if they cannot recover the money from debtors”ANRE approved the increase of tariff for electrical energy from 109.7 to 121 leiGcalories ...