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Energy & Environment
Privatisation contract of Electrica Muntenia Sud to be signed next days
Thursday, March 29, 2007
The privatisation process of Electrica Muntenia Sud (EMS), one of Romania's most important distribution and supply companies, is pending signing in the upcoming period.Teodor Atanasiu, president of the State Assets Resolution Authority (AVAS) says that the Romanian side proposed the Italian group Enel some changes in the contract. ‘'If they agree, we'll promote the buy-sell contract under the form of a government decision, instead of law, because otherwise the process will last longer,'' ...
Chinese build biofuels factory for Interagro
Thursday, March 29, 2007
Chinese specialists will build in Zimnicea (south-west of Bucharest) a biofuels factory for farming producer Interagro, Financial Week reports.The decision to invest in a bioethanol factory was taken 2 years ago. In 2005, Interagro obtained a crop of over 60,000 tonnes of maize, but could not capitalize on it because the price offered by buyers was lower than the production costs.'Interagro is a big farming producer, with total productions of cereals that exceed 230,000 tonnesyear. After we ...
ButanGas to invest 6.5 million euros in technological equipment in 2007
Thursday, March 29, 2007
ButanGas Romania will invest 6.5 million euros in technological equipment in 2007, quite double compared to 2006, announced the general director Florin Preda.'We want to invest more in technological equipment so as to increase the storage and transport capacities of liquefied petroleum gas. We want to consolidate our domestic presence and therefore investment is essential,' the director informed in a release.According to him, the liquefied gas market reached 300-320 million euros in value in ...
Standard & Poor's upgrades rating of Transgaz to BB+
Thursday, March 29, 2007
Standard&Poor's Rating Services, world's foremost source of credit ratings, indices, investment research, risk evaluation and data on Monday upgraded S.N.T.G.N. Transgaz S.A. Medias to BB+ for long-term corporate loans, according to a release on Transgaz website.The BB+ Rating, according to company representatives, mirrors the favorable profile of Transgaz activity as Romania's sole licensed gas transporter, the stabile cash flow from regulated gas transport activities, a strong financial ...
Europe's nightmare: A world natural gas cartel
Thursday, March 29, 2007
World’s natural gas exporting countries will gather in Doha on April 9 for a forum that may set the grounds for a new natural gas cartel built on the rules of OPEC. The cartel, which for a start would bring together Russia, Iran, Algeria, Qatar and Venezuela, aims at becoming the most important energy player worldwide. Not a new idea, but rather one that was extensively discussed lately.The most important supporter for such a cartel is Iran, the world’s second largest natural gas producer, ...
Electrica will cover the energy demand by imports including
Thursday, March 29, 2007
Electrica ensured its electrical energy necessary quantity to cover the demand for electricity after April 1st through acquisitions on the stock exchange and import, at lower prices than those of the Q1, the company informed. “ Electrica finalized the acquisition contracts for electrical energy for their own eligible users and of their branches.We mention the fact that Electrica undertook acquisitions of energy from the Common Bilateral Partnership market BRM and import” the press release of ...
Vosganian: electricity price will go up depending on water storage
Thursday, March 29, 2007
Electrical energy price will not go up in 2007, after April 1st if the hydrological storage will be sufficient, the minister of economy and trade Varujan Vosganian informed during a TV show. “ We have discussed with the representatives of the National Authority for Energy Regulatory (ANRE) and we all agreed that electrical energy could go up only by 3.9% ( the percentage that will be included in the price starting April 1st) if hydrological resources are sufficient and by 6% if it is a ...
Transelectrica shares listed on the stock exchange could go up by 2-3%
Thursday, March 29, 2007
Transelectrica shares listed on the stock exchange could go up by 2-3% after the ministry of economy would approve the files of the almost 1,000 former owners, wrongly deprived of the shares during the communist period, stated for NewsIn the minister of economy and trade Varujan Vosganian. The minister announced that a commission will deal with the investigation of all files of the almost 1,000 former owners who opted to be refunded with Transelectrica shares. The commission is supposed to ...
Romgaz sells gas cheaper by 10% to big users
Thursday, March 29, 2007
Important users will be able to buy natural gas from Romgaz with a reduction of maximum 10% as compared to the normal price of the producer, the minister of economy and trade Varujan Vosganian stated in a press conference. According to him, the discounts will not be more than 5-6% of the normal paying price. “ All over Europe there are such discounts for the companies using gas in proportion of 40-60% as raw material” the minister said. According to him, any company acquiring approximately ...
Romania halts energy import from Transdniester
Thursday, March 29, 2007
The Romanian energy import from Transdniester via the Republic of Moldova was halted following a litigation over 30 million euros worth of Moldovan debts to Romania, Economy and Trade Minister Varujan Vosganian announced at a news conference on Tuesday.'We have decided to halt the imports from our eastern neighbours until the Republic of Moldova pays the nearly 30 million euro debt it has to Romania', he said.Vosganian announced the tariffs for the electricity supplied to household consumers ...
Businessman Patriciu holds talks with six companies to sell 10-25 pc in Rompetrol
Thursday, March 29, 2007
Businessman Patriciu is in talks with six companies interested in acquiring a minority share within the petroleum group, through a capital increase by which the investor will secure 10-25% of the shares, daily Ziarul Financiar quotes Rompetrol's president, Dinu Patriciu, as saying on Tuesday. 'We are currently in talks with all six companies, out of which one will be chosen,' said Patriciu, majority shareholder of the Rompetrol group, which is registered in the Netherlands. Patriciu declined ...
Electricity in all households by 2010
Thursday, March 29, 2007
All households in Romania will be connected to the electricity network over the following two years, according to the program 'Electrification 2007-2009' approved by the Government in its Wednesday meeting at the proposal of the Administration and Home Affairs Ministry and of Economy and Trade Ministry.According to State Secretary with the Administration and Home Affairs Ministry (MAI) Mircea Toader, there are 67,738 households all over Romania without electricity.The network's construction ...
Enel Romania reports EUR 102 million in 2006 operational profits
Thursday, March 29, 2007
Electricity distribution and supply companies Electrica Banat and Electrica Dobrogea, both included in the portfolio of Italian group Enel SpA, registered in 2006 operational profits (EBITDA - earnings before interest, tax, depreciation and amortization) worth a combined 102 million euros, whereas Enel's international division reported 918 million euros in EBITDA, up 89.3 percent in comparison with 2005, reveal the Italian group's financial outcomes for 2006 published on Wednesday.The ...
Nabucco gas pipe will cross Romania, say OMV officials
Thursday, March 29, 2007
The Nabucco pipe carrying natural gas from Caspian region to Europe will definitely cross Romania, while Transgaz is an important shareholder within Nabucco consortium, say officials with OMV in reply to statements of Comone Grup director. First, he said on Monday during a seminar on energy issues, that the project stagnated and that OMV and MOL agreed that Nabucco should not cross Romania. OMV, oil and natural gas leader in Central Europe, works in a consortium with four international ...
Memorandum on construction of Constanta-Trieste oil pipeline to be signed on April 3
Thursday, March 29, 2007
Minister of Economy and Trade Varujan Vosganian and Secretary of State responsible for industrial policies Eugen Tapu-Nazare will attend, on April 3, in Zagreb, the signing of the memorandum on the construction of the Constanta - Trieste oil pipe, the Ministry of Economy and Trade informed Rompres. Serbian minister of Energy and Mines Radomir Naumov confirmed on Tuesday evening that a ministerial declaration on the construction of the Constanta (Romania) - Trieste (Italy) Pan-European oil ...
Japanese survey in Romanian seashore protection
Thursday, March 22, 2007
Japanese researchers presented in the auditorium of the Ovidius University of Constanta, on Friday, the most far-reaching and newest survey in the Romanian Black Sea shore rehabilitation and protection, severely afflicted with coast erosion over the past 30 years. The study has been funded by the Japanese Agency for International Cooperation and it establishes both the causes and the current dereliction of the beaches and the promenades at Capul Midia up to Vama Veche as well as the stages ...
Waste incinerator turns operational in Constanta Port
Thursday, March 22, 2007
The National Company for the Administration of Sea Ports based in the Black Sea city port of Constanta (south-eastern Romania) leased , for exploitation, the waste incinerator in the Port of Constanta to Rosal Ecologic & Recycling System SRL Bucharest Co.The new operator has won a tender for the exploitation of sanitary waste from ships considered to have been infected.The incinerator has been an objective of the Environment Component in the Environment and Infrastructure Project in the ...
Coal quarrying will not be abandoned, says Director General of the National Pit Coal Corporation Surulescu
Thursday, March 22, 2007
After more than 150 years of intense industrial exploitation of the Jiu Valley coalfields, coal reserves in the areas leased out exceeds 300 million tonnes, which might secure the future of the quarrying industry for at least 80 more years, Director General of the Petrosani National Pit Coal Corporation (CNH) Daniel Surulescu told daily Economistul in a recent interview.'Abandoning the coal wealth today, when the energy problem is so acutely felt all over the world, would be a big mistake ...
Romania invests over 986M lei in water management, in the past two years
Thursday, March 22, 2007
Flood management raised major problems over the past two years (2005 and 2006), damaging 878 hydro-technical facilities, the rehabilitation of which cost 986 million new lei, Environment and Water Management Minister Sulfina Barbu told a seminar on curbing risks in emergency situations.As many as 630 hydro-technical constructions were fully re-built and 205 are under re-construction and feasibility studies for 43 such works are to start in 2007, during the above-said time span.Minister Barbu ...
Environmental projects by 2009 need more than 1.7 billion euros in investments
Thursday, March 22, 2007
The achievement of the projects aimed at environmental protection, under the Sectoral Operational Programme for Environment, scheduled to be carried out by 2009, needs investments of more than 1.7 billion euros, Minister of Environment and Water Management (MMGA) Sulfina Barbu said during a seminar on curbing the risks in case of emergency situations that was held in the mountain resort of Sinaia (110 km north of Bucharest).Approximately 16 percent of the 1.7 billion euros are to come from ...