RSS
Energy & Environment
Romania commits to 20 pct cutback of carbon emissions and 20 pct renewable energy share
Thursday, March 15, 2007
Romania will undertake the goals proposed during the European Spring Council, specifically a 20 percent cutback of carbon emissions by 2020 and a 20 percent share of renewable energies, Prime Minister Calin Popescu-Tariceanu stated on Thursday, at the end of the first working session of the European Council. Romanian President Traian Basescu asserted in the plenary meeting Romania's stance in the energy issue, whereas Premier Tariceanu presented the country's position regarding the contents ...
Romania wants to reduce gas emissions causing global warming
Thursday, March 15, 2007
Romania wants to take measures to reduce the gas emissions that cause global warming, especially as southern Dobrogea and the Baragan plain are threatened with desertification, said on Friday in Brussels President Traian Basescu.President Basescu's statement came at the end of the European Council's spring meeting held in Brussels, aimed at debating energy and its impact on environment, after the EU states, aware of the effects of global warming, invited the United States, India, China and ...
Regulatory authorities in energy must be extremely strong, says President Basescu
Thursday, March 15, 2007
President Traian Basescu pleaded on last Friday for the establishment of a regulatory authority in the energy field independent and efficient, as well as for the separation of production, transport and distribution operations in the sector.The head of state, returned to Bucharest after his participation in the spring meeting of the European Council, showed that the performance requested by the European Union in the energy field, on the background of market deregulation, can be attained ...
Hungarian investment in eco-friendly fuel factory in Nadlac
Thursday, March 15, 2007
A Hungarian firm intends to build in Nadlac north-west of Bucharest a factory that will process annually some 300,000 tonnes of maize to produce eco-friendly fuel, on an investment that will amount to some 80 million euros and will create over 500 jobs. It will be the most important investment so far in Nadlac. The representative of Nadlac Local Council have already met with the representatives of Hungarian Euro Mediu, to whom they presented several locations where the factory my be built ...
Chamber of Deputies focuses on Romania's electricity market
Thursday, March 15, 2007
Romania's electricity market has turned into a jungle and the low-priced energy of the country is left in the hands of suppliers that are selling it discretionarily, Chairman of the Chamber of Deputies' Committee on Industry and Services Iulian Iancu said on Monday.'Some have sold energy preferentially to whomever they wanted behaving as they were the proprietors of electricity in Romania,' Iancu told a new round of hearings conducted by the inquiry committee into the activity of the ...
Transelectrica to make investment worth 473 million euros in 2008-2014
Thursday, March 15, 2007
Transelectrica National Electricity Transmission Corporation will carry out investment projects worth 473 million euros in 2008-2014, 119 million of which will come from own funds and 354 million euros from foreign loans; investment in 2015-2025 is estimated at 630 million euros, of which 300 million euros from own funds and 330 million from foreign loans, according to data posted on the corporation's web site.Among the future projects of the corporation is a 400kV OHL electric line from the ...
Natural gas storage capacity for this year's injection cycle stands at two billion c.m.
Thursday, March 15, 2007
The aggregate natural gas storage capacity for the 2007 injection cycle is 1.932 billion c.m. in the six deposits owned by Romgaz. According to the list published on the company's site consulted by Rompres, the storage tariff is 74.39 lei1,000 c.m.Depending on the gas extraction rate from deposits and the necessary gas consumption determined by environment temperatures, the available storage capacity could be reconsidered along the extraction cycle. Romgaz operates six underground natural ...
IPID Study : Romania risks to become net energy importer in following 6-10 years
Thursday, March 15, 2007
Romania is close to a production capacities' crisis and risks to become a net energy importer in the upcoming 6-10 years, taking into account that the sector of energy production has an inertia of four up to seven years and the majority of existing installations have outrun their source, maintained experts from the Institute of Projects for Innovation and Development (IPID) and members of the Romanian Association for the Club in Rome (ARCoR).IPID plans to elaborate in the coming months a ...
Petrom plans to boost production by 40 pc up to 2010
Thursday, March 15, 2007
Petrom Co. that faces a decline in oil reserves in Romania plans to boost production by 40 percent in the coming three years, following investments to be implemented in Caspian Sea region and in Russia.Petrom's oil and natural gas production dropped by 6 percent last year, until a level of 205,000 barrels per day and, this year, production could even decline below 200,000 barrelsday, Ziarul financiar daily reports on Wednesday.The target for 2010 is to boost oil and natural gas production ...
Romania takes part in conference of Balkan countries' energy ministers
Thursday, March 15, 2007
Darius Mesca, Secretary of State responsible for energy with the Ministry of Economy and Commerce, attended on last Tuesday, in Sofia, the works of the annual conference of Balkan countries' energy ministers, where he presented the project of the Nabucco gas pipeline, reads a press release of the Ministry Economy and Commerce. The Nabucco project is being carried out with the participation of five expert companies: Turkey's BOTAS, Bulgaria's Bulgargaz, Romanian Transgaz, Hungary's MOL ...
Petrom is not interested in taking over Petromservice
Thursday, March 15, 2007
Petrom is not interested in acquiring Petromservice, considering that this company has to be a very important supplier of services, the Petrom CEO said. “ Petromservice is, among us, a very important services provider and we want it to stay this. We are not interested to buy it” Schinhan said. Asked if OMV, Petrom owner plans a possible acquisition of Petromservice, the company offical answered that he did not know of any such intention. According to information the media made public this ...
Petrom and Romgaz could invest in a gas storage facility in Romania
Thursday, March 15, 2007
Petrom analyses the possibility of investment in a gas storage facility in Romania, possibly in partnership with Romgaz, as the oil company intends to sell more gas than it produces, the Petrom CEO Werner Schinhan stated. « Petrom wants to invest in a gas storage facility and we consider the possibility of collaboration with Romgaz for its construction » Schinhan said, in a press conference, NewsIn informs. According to it, Petrom inteds to sell more gas than it produces and that is the ...
Alro : Energy Holding reduced the energy quantity and increased the price
Thursday, March 15, 2007
Alro representatives stated on Monday, 12 March, that in 2004, during the contract for electricity acquisition with Energy Holding, the intermediary required their agreement to reduce supply, simultaneously to the increase of the price for sold energy, due to a producers’ deficit. Alro CEO Gheorghe Dobra stated to the Comission for Industries and Services in the Deputies’ Chamber that in September 2004, Energy Holding with whom Alro had signed an energy supply contract in 2003, required the ...
Energy forward contracts market officially launched on March 15th
Thursday, March 15, 2007
The power market operatior OPCOM will officially launch on 15th March the market of forward contracts, but the first trading will take place after this date as electricity sellers did not present any offers, the OPCOM CEO Victor Ionescu stated. According to him, until Monday, the power market operator did not receive any selling offer and according to procedures, any offer must be posted at least five days before trading day. Ionescu said that, 45 producers and suppliers received smart ...
Electrica will present new selling offers for the power market
Thursday, March 15, 2007
Electrica will organise on the power market OPCOM, between 21 and 23 March, a number of 12 sessions of selling offers for the acquisition of power packages of 10, 20 and 30 MWh , stated on Tuesday the general manager of OPCOM Victor Ionescu quoted by NewsIn. “ Electrica sent to OPCOM requests for the organization of new auctions for power acquisition. The company for power distribution acquired on Tuesday by means of OPCOM, the administrator of the power market, 100 MWH electrical ...
AVAS officially purchases a 30-percent stake held by MEC in Petrom
Thursday, March 8, 2007
Oil and gas company Petrom's shareholding structure has been subject to change this week, with the State Asset Resolution Authority (AVAS) officially becoming a shareholder in Romania's largest company after it had taken over from the Ministry of Economy and Trade (MEC) its 30,862 percent f the company's shares, reads a press release Petrom sent to the Bucharest Stock Exchange (BVB) on Wednesday. The value of the transferred stock would be 3 billion euros, calculated at a market value of ...
Experts to analyze national cogeneration potential of high efficiency energy
Thursday, March 8, 2007
The Ministry of Economy and Trade and the Ministry of Administration and Interior will appoint a team of experts to analyze the national cogeneration potential of high efficiency energy, including the high efficiency micro-cogeneration, in conformity with the European Directive 20048EC.The Government approved a draft law on the promotion of cogeneration based on thermal energy demand.The draft law ensures the framework for the modernization of electricity and thermal energy installations ...
Analysis: Tight competition on Romania's natural gas market
Thursday, March 8, 2007
Romania's natural gas market has increased by 150 percent in value over the past four years.The estimated 2003 value was $2 billion, having gone up to $5 billion in 2005, mainly as a result of surges in domestic gas acquisition prices and gas imports.Started off in 2001, the opening up of the local natural gas market was fully completed on January 1, 2007 for all non-household consumers, according to data with the National Natural Gas Regulatory Authority (ANRGN).The three local natural gas ...
RWE interested in privatisation of Turceni and Rovinari power plants
Thursday, March 8, 2007
Germany's RWE Co. is interested in participating in the privatisation of the Turceni and Rovinary power plants (centre Romania), as well as in the carrying out of the planned accumulation and pumping hydro power plant located at Tarnita - Lapustesti (south), which is currently in the feasibility stage. The German company is also among the pre-selected potential investors for the configuration of the investment scheme for the construction of Units 3 and 4 of the Cernavoda nuclear power plant, ...
Rompetrol Downstream becomes member of Romanian Oil Association
Thursday, March 8, 2007
The Romanian Oil Association (ARP) can entirely represent the Romanian oil industry following the accession of Rompetrol Downstream to this association, reads ARP. The Romanian Oil Association, set up 5 years ago with the aim of representing the oil industry's general interests has the following members: Agip Romania, Lukoil, Mol Romania, OMV Romania Mineraloil and Petrom. ''By the accession of Rompretrol to the Romanian Oil Association we became a perfectly well-defined entity, representing ...