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Energy & Environment
Romania had a say in EU Environment Council's decisions on greenhouse gas cutback
Thursday, March 1, 2007
The first Council of Environment Romania participated in as full member has taken in consideration her stand regarding climate changes and even adopted the amendment of the meeting's Final Statement on the basis thereof, announced Romanian Minister of Environment and Water Management Sulfina Barbu The most important point on the agenda of the EU Council of Environment Ministers was the adoption of a statement on the member states' position regarding the European Commission's strategy for the ...
Legislation amendment in the pipeline to speed up minor stake sales
Thursday, March 1, 2007
The government is to reach a decision on how minor State-owned stakes in energy companies shall be sold, whereas for the rest of the companies with State participation, the privatization legislation will probably be amended by mid-year, president of the State Assets Resolution Authority (AVAS) Teodor Atanasiu told Rompres .'We suggested a simplified stock assessment for the companies where we hold less than five percent and we want to sell the stakes by open outcry bid. We hope that by ...
Environment projects and water protection receive 1.4 billion euro funds
Thursday, March 1, 2007
The Government paid special attention to environment and water protection projects over the past two years and approved loans of 1.4 billion euros over 2006-2009, announced on Friday Lucia Ana Varga, State Secretary with the Ministry of Environment and Water Management and President of the International Commission for Danube River Protection.'The sum will be used to finance investment in environment and water management, treat polluted waters, rehabilitate mining areas and restore some ...
Danube and Black Sea riparian countries to joint efforts to fight pollution
Thursday, March 1, 2007
Danube River and Black Sea riparian states should join efforts to fight pollution by harmonizing the cooperation programme financed via the European Neighboring and Partnership Instrument with the regional initiatives, Minister for European Integration (MIE) Anca Boagiu said on last Friday in Bucharest on the occasion of a meeting of ministers from the Danube and Black Sea riparian states called: 'Towards a Sustainable Partnership for Integrated Water Resources Management,' organized by the ...
Energy price rises will not influence the 2007 inflation projects, says Economy Minister Vosganian
Thursday, March 1, 2007
The expected energy price rises in 2007 will not affect the inflation targeting policy of the National Bank of Romania (BNR), Romanian Minister of Economy and Trade Varujan Vosganian on Monday told a visiting delegation of the International Monetary Fund (IMF).According to Vosganian, the IMF delegation is interested in the way in which the policy of the Ministry of Economy and Trade (MEC) regarding the energy prices fits in the overall inflation targeting policy of the BNR.'I assured the IMF ...
Romania has a deficit of competitiveness due to high energy intensity
Thursday, March 1, 2007
Romania's high energy intensity triggers a deficit in competitiveness, said this Monday Minister of Economy and Trade Varujan Vosganian during a seminar on economic issues.The minister said that Romania's energy intensity is four times higher than in EU states.Vosganian believes that Romania must develop a courageous strategy of commercial and energy policy. According to the Sectoral Operational Plan, the average consumption in Romania will advance 2.5 percent annually over 2007-2015. ...
Romania can receive over 1 billion euros from European Commission, starting June 2007
Thursday, March 1, 2007
Romania could receive from the European Commission, starting June 2007, over one billion euros out of the 4.5 billion representing the non-repayable fund for priority projects included in the Sectoral Operational Programme for Environment (SOP ENV), Minister of Environment and Water Management Sulfina Barbu on Monday said at the opening of a seminar devoted to environment instruments and business development. ‘'The Ministry of Environment has already a portfolio of over 50 projects through ...
Alro and the scandal on the energy market
Thursday, March 1, 2007
Alro has a market quota of 0.19% of the energy market, as compared to 8% owned by Energy Holding, the largest energy trader with privately-owned capital, together with Hidroelectrica. But Alro consumes a large quantity of energy, which they tried to take directly from Hidroelectrica, for their own consumption, not to be resold, as the other traders. In October 2005, Energy Holding announced they would not supply Alro with energy, the latter getting energy from Hidroelectrica. In the ...
Alpha Bank offers Electrocentrale Banat 190 million dollars
Thursday, March 1, 2007
Alpha Bank offered Electrocentrale Bucuresti 190 million dollars as loan for energy acquisition, the representatives of the bank announced in a press release. The loan has a maturity of five years, the bank mentioned, without offering other details about interest rate. “ This is the first loan to Electrocentrale Bucuresti. We are happy with this collaboration and the fact that we could settle so quickly, the details for such transactions, as a capacity of the Romanian banks to finance ...
A wise energy strategy can back Romanian competitiveness, says economy minister
Thursday, March 1, 2007
The Minister of Economy and Trade Varujan Vosganian believes that a wise energy strategy can back the Romanian competitiveness.'A wise energy strategy can back the Romanian competitiveness, as for a high energy intensity, in which we spend four times more energy per GDP unit compared to the EU, the key of competitiveness does not reside in good management or wise salary policy, but on the energy strategy,' said Vosganian at a television show.He said that besides culture, the energy is ...
Romania requires annual investment of almost 1bn euro in energy, specialists say
Thursday, March 1, 2007
Romania requires annual investment of between 800 million and 1 billion euros in the energy field, according to a study presented by professor Aurel Leca at a conference on climate change, energy and environmental protection held in Bucharest.According to the same study, Romania has oil and natural gas reserves for 15 years; its dependence on oil imports is put at 54 percent and its dependence on gas imports at 50 percent. Romania can currently produce 15,000 MW, but 80 percent of the ...
Holcim Romania will stop in 2008 the production of white cement
Thursday, March 1, 2007
Holcim Romania will stop in 2008 the production of white cement at the Turda-based plant (north-west of Bucharest), because of the repeated rise in the price of natural gas, reads the comnpany. Holcim will continue to supply white cement by the end of 2007 as the Turda-based plant will focus on the terminal of grey cement, the production of the best-quality aggregates and special products for various applications. Thus, 10 years after the takeover of the cement plant at Turda, Holcim Romania ...
Toreador Resources Corporation to invest in oil and natural gas exploitations in Romania this year too
Thursday, March 1, 2007
The American company Toreador Resources Corporation, specialized in activities in the field of oil and natural gas exploitation, invested 14.2 million dollars (11.4 million euros) in Romania in 2006. The managers of the company have similar plans for this year.Toreador Resources Corporation intends to rehabilitate and exploit the gas field at Fauresti, Valcea County (north-west of Bucharest) and the oil fields at Viperesti, Buzau County (north-east of Bucharest) and Moinesti, Bacau County ...
Energy law : ANRE will establish prices for energy quantities
Thursday, March 1, 2007
ANRE will continue to establish prices and the respective quantities corresponding to wholesale energy transactions between producers and suppliers of household users after 1 July 2007, although, the energy market will be completely deregulated, according to the energy law, coming into force on Thursday, 22 February 2007. The regulated energy market, where the Regulating Authority for energy (ANRE) establishes the price between producers and suppliers to captive consumers, as well as tariffs ...
What does the energy market look like in Romania ?
Thursday, March 1, 2007
The energy market was the centre of the most heated political disputes lately. The premier and the president fought over this issue, during a televised show where they talked about million of dollars commissions. But what does the energy market look like ? There is a market with regulated prices, the one addressed to the end users. There is the deregulated market which has lately started to be transparently organized. The big producers of energy are Hidroelectrica, Termoelectrica, ...
Cheaper energy, a far away dream
Thursday, March 1, 2007
European Energy Commissioner, Andris Piebalgs. The EC official visited Bucharest on Friday, in order to discuss priority projects in the energy field."The European Union's states have to make major investments in this field, but the impact on the price may come only on a medium to long term", says Piebalgs.The energy consumption is expected to grow during the following 20 years, therefore we can't expect for the oil price to fall, is one of the commissioner's conclusions. Piebalgs also says ...
Renewable fuel can turn Romania into biggest energy power in region
Thursday, March 1, 2007
Renewable energy sources (water, wind or biofuel) could turn Romania into the biggest energy power in the region and implicitly into the most important player in the field, Economy and Trade Minister Varujan Vosganian told a news conference on Friday.'If we capitalized the wind potential of Dobrogea (south-eastern Romania) it would amount to 2,000 MW generating power, which would exceed that of the two reactors in Cernavoda, said Vosganian, adding that as for the biomass, Romania's ...
Nabucco pipeline needs European coordinator
Thursday, March 1, 2007
European Commissioner for Energy Andris Piebalgs stated in Bucharest that the Nabucco project cannot be accomplished without political support from EU member states. The European Commissioner spoke about the energy strategy of the European Union, voicing concern over the fact that increasingly fewer countries have oil and gas resources of their own, which are anyway controlled by state-owned companies that are under political command. We must be concerned when two heads of state meet and ...
EU Energy Commissioner Andris Piebalgs believes Romanian energy market is on the right way
Thursday, March 1, 2007
EU Energy Commissioner Andris Piebalgs believes that Romania's energy market is on the right path, but there is still much to be done to attain a level comparable to that of the European developed countries.A regional energy stock exchange is likely to be set up in Romania for good cooperation, EU Commissioner Piebalgs said during his visit to Bucharest.Streamlining energy is the biggest challenge for Romania. The idea is to start investing in streamlining the energy in the public sector and ...
Net profit of Transelectrica, up threefold in 2006 versus 2005
Thursday, February 22, 2007
National electricity transport company Transelectrica posted 2006 net profit of 280.76 million RON, which is more than threefold rise versus 2005 (82.37 million RON), read the preliminary financial results posted on the company's website .The gross profit stood at 331.86 million RON, in the context of total revenues of 2.6 billion RON and total expenditures of 2.27 billion RON. The net turnover stood at 2.45 billion RON, up over 43% versus 2005.The better-than-expected financial results ...