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Energy & Environment
Hydro-power station close to Pascani starts being built
Thursday, March 22, 2007
Romania's Minister of Economy and Trade Varujan Vosganian said on Sunday, in Iasi, north-east of Bucharest, that Hidroelectrica Co. has begun building a hydro-power plant on the Siret river, close to the city of Pascani.The investment, one of the biggest public one so far, amounts to some 90 million euros.The plant will be ready about three years from now, solving one of the most stringent problems in Pascani. It will also diminish the risk of Siret flooding and offer a source of water in ...
Sweden is keen to rehabilitate Romanian thermal- and hydro-power plants
Thursday, March 22, 2007
Sweden is interested in having the Romanian thermal and hydro-power plants rehabilitated and is willing to grant technical assistance for their upgrading. During the visit Senate's President Nicolae Vacaroiu and a Romanian parliamentary delegation paid to Stockholm over March 14-17, it was discussed the start of tangible projects in the cooperation between Romania and Sweden in the field of the thermal and the hydro-power plants. It deals with the upgrading of the thermal power plant in Deva ...
Over 9,700 nuclear fuel rods sent to Units 1 and 2 of Cernavoda Plant in 2006
Thursday, March 22, 2007
The Factory of Nuclear Fuel sent in 2006 to the Nuclear Power Plant in Cernavoda, eastern Romania, 9,748 nuclear fuel rods for Units 1 and 2, according to the website of Nuclearelectrica Co.On Sept. 15, 2005, the said factory produced rod 50,000. The whole production so far has included around 1,100 tonnes of uranium and the energy it has generated would be the equivalent of that of 111 million tonnes of lignite or 16 million tonnes of fuel oil.The factory's capacity stands at 90 tonnes ...
Preferential contracts in energy field to drop by 10 pc
Thursday, March 22, 2007
Economy Ministry Varujan Vosganian said that those preferential contracts which some companies concluded with local energy makers will downsize significantly. Varujan Vosganian said at a news conference held in Iasi (eastern Romania) that no attempts of influencing the prices of energy and energy policy have been observed lately. The Economy Minister said at the same press conference that by the end of this year, preferential contracts would decrease from 22% to below 10%. ‘'The up-to-date ...
RRC shares traded for 500,000 euro on Bucharest Stock Exchange
Thursday, March 22, 2007
Rompetrol Financial Group sold a 0.08% stake in Rompetrol Rafinare Constanta-RRC on the Bucharest Stock Exchange on Tuesday. The transaction amounted to 1.64 million RON (some 500,000 euro). The 17.5 million shares were transferred within minutes before closing bell for a unit price of 9.39 bani (0,0939 RON).Rompetrol boss Dinu Patriciu said early this year that by the end of March a 15% in RRC would have been sold. It was not Patriciu’s first statement of the kind as by mid-2006 he said he ...
Dinu Patriciu : Privatisation can save energy sector
Thursday, March 22, 2007
Romania could face an energy crisis in the next two years. A solution envisaged by president of oil company Rompetrol Dinu Patriciu, is the privatisation of the electric energy production system. The president of the Rompetrol Group told The Money Channel on Saturday that the privatisation of the state-owned energy producers, could lead to the emergence of a market in this area and could therefore balance the electric energy prices. 'When all the companies are private, regardless of being ...
Almost 1 million MWh generated by Unit no. 1 of Cernavoda in first 2 months
Thursday, March 22, 2007
Unit no. 1 of nuclear power plant in Cernavoda generated, in the first 2 months of 2007, 926,962 MWh, out of which 487,074 MWh in January and 439,888 MWh in February, according to the data posted on Nuclearelectrica website.In 2006, the quantity of electricity generated within National Company Nuclearelectrica, through Unit no. 1 of nuclear power plant Cernavoda, stood at 5.631 million MWh, a record production in the ten years of activity. Out of this quantity, 5.177 million MWh was ...
Some 40 pc of electricity produced in Romania to be traded on Stock Exchange starting with 2008
Thursday, March 22, 2007
Approximately 40 percent of the electricity produced in Romania is to be traded since 2008 on the Stock Exchange, 50 pc is to remain on the regulated market and just 10 pc will be found in bilateral contracts negotiated directly. Under these conditions, Romania's electricity market will be one of the most advanced in Europe from the point of view of liberalization and transparency.OPCOM electricity stock exchange operator in Romania has launched recently the Centralized Market of Forward ...
Illegal aspects found in energy, highways, state assets and properties
Thursday, March 22, 2007
The Government’s Control Authority (ACG) presented its 2005-2006 activity report. According to the official releases and statements, ACG organized 127 controls within a year, out of which 22 were finalized by criminal files tables to prosecutors. The inspectors found faults in both central and local administration institutions.The balance meeting was attended to by PM Calin Popescu Tariceanu, chief of the ACG Emanoil Negut and the Delegate Minister for Foreign Program Implementation Control, ...
Brussels drafts controversial energy 'unbundling' law
Thursday, March 22, 2007
EU energy giants are coming one step closer to losing full control over their assets, with the European Commission pressing ahead with legal moves to break up major concerns into smaller pieces and saying it has the backing of member states. Senior EU officials, speaking on condition of anonymity, confirmed that Brussels will table a piece of legislation which would force large energy companies to sell off part of their business in order to fully separate production and distribution. The ...
Six wind turbine energy companies qualify for regenerating energy production in 2007
Thursday, March 22, 2007
A number of six wind turbine electricity producers have qualified for the priority production of energy for 2007, according to a list published on the site of the National Regulatory Authority in Energy Field (ANRE).The six producers are Ecoprod Energy SRL, Pentium SRL, Blue Line Impex SRL, Electrogrup SRL, Electro Margo Line SRL and E Market SRL.The list made public by ANRE comprises 24 electricity producers from regenerating sources, the remainder of 18 being based on hydro energy. Among ...
Oil products market hits 3bn euros
Thursday, March 22, 2007
The market of oil products last year went up by over 17 percent, driven by the 16 percent growth in the domestic car market and the increased transportation activity in the region, daily Ziarul Financiar reports on Wednesday.The upward trend is expected to continue this year, amid the tightening of commercial ties at a regional level in the wake of EU integration. 'Sales on the Romanian fuel market total around 3.5 billion litres,' stated officials from Petrom, the largest Romanian oil ...
Petrom invests 110 million euros in 119 petrol stations
Thursday, March 22, 2007
Oil company Petrom, controlled by Austrian group OMV, has this year an investment budget of 110 million euros for constructing and re-constructing 119 petrol stations, out of which 19 will be built through greenfield investments.This year, OMV EuroTrack petrol stations for commercial fleets will be opened in Austria, Czech Republic and Slovenia, say the officials of the Austrian group. They add this network will be extended next year to Hungary, Croatia and Romania.In end-2006, Petrom held ...
Electricity prices to rise on average by 3.95 pc as of April 1
Thursday, March 22, 2007
The price of electricity will go up starting April 1 by 3.95 on average, following the hydrological deficit registered one year ago, president of the Romanian Electricity and Heat Regulatory Authority (ANRE) Nicolae Opris told Rompres. ‘'Under normal circumstances this should be the last rise of this year, however, if the year will be extremely droughty, a similar rise could occur in autumn,' said ANRE's president. Opris is confident a new rise is not necessary because of the commissioning ...
Romanian state accused of "confiscating Nitramonia group companies"
Thursday, March 22, 2007
US investor S&T Oil Equipment & Machinery, former majority stock holder at Nitramonia Fagaras, will address the International Court for Commercial Litigations (CLIC) in Washington, accusing Romanian state's decision to "confiscate the companies that formed the Nitramonia Fagaras group”.The US group claims that the takeover move initiated by the Romanian state is illegal and comes against all international regulations. The group notified the Romanian government in March and expect the ...
Shell leaves Romania
Thursday, March 22, 2007
The UK-Dutch oil group Shell announced on Wednesday that its liquefied gas (GPL) business in Romania, Bulgaria, Spain, Switzerland and the Czech Republic was sold to the French company Rubis. The transaction added up to 90 million euros, Reuters informs.Through this operation, Shell ends all its activity in Romania.According to Shell officials, the transaction is part of the company's new policy, oriented rather towards extracting oil than selling oil products."Shell focuses its investments ...
American companies expect privatisations in the energy domain
Thursday, March 22, 2007
The US companies invested last year 834 million dollars and are interested in supplementary investment in the sector of infrastructure and energy where privatisations are expected, the Deputy Secretary of Trade of the United States of America Paul Dyck stated. Romania is an important piece in their strategy, the representative of the White House stated in a press releae sent by the US Embassy. “ We consider that Romania’s accession to the EU will bring more such companies to Romania”. Trade ...
Vosganian does not agree with Termoelectrica and Hidroelectrica merger
Thursday, March 22, 2007
Termoelectrica must be restructured and not closed down as their electricity supply is very important for the security of the energy system, the minister of economy and trade ,Varujan Vosganian stated. According to this, there are two solutions for the restructuring of Termoelectrica: the first is an association between Termoelectrica and Hidroelectrica. Termoelectrica should be a branch of Hidroelectrica and Hidroelectrica should buy energy produced by Termoelectrica and sell it together ...
Growth of over 2 percent for volume of primary energy resources over January-March 2007
Thursday, March 15, 2007
The volume of primary energy resources in the first quarter of 2007 was estimated at 10,900 million tonnes of oil equivalent (TOE) accounting for a 2.1 percent rise compared to the fourth quarter of the previous year, according to a survey conducted by the National Economic Projection Commission (CNP).The volume of primary energy resources reported last year was of over 419.51 million toe, accounting for a 1.1 percent rise compared to the previous year. For the January-March period compared ...
Romgaz says privatisation not appropriate right now
Thursday, March 15, 2007
Romgaz general manager, Jakob Alexa said at the hearings at the parliamentary commission responsible for investigating the activities of the Economy and Trade Ministry (MEC), that Romgaz privatisation was not appropriate at this moment. 'It is pointless to privatise Romgaz now, at least until prices reach the market level', Romgaz general manager said. He showed that Romgaz did not have any bank loans and not it needed lending, because it was able to start maintenance and investments based ...