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Energy & Environment
Rompetrol Well Services increases profit in 2006 Rompetrol Well Services increases profit in 2006
Thursday, February 22, 2007
Rompetrol Well Services increased last year its net profit to 10.19 million lei (2.89 million euros), up 57 percent, while the turnover reached 62.56 million lei (17.75 million euros) up 15.41 percent, daily Bursa informs on Thursday.The production sold represented 93.56 percent of the turnover in 2006, while total revenues advanced 13.24 percent, reaching 63.45 million lei (18 million euros). On the other hand, expenses moved up 6.6 percent over the period, reaching 51.18 million lei (14.52 ...
Rompetrol Rafinare posts turnover 50 pc higher in Q4, 2006
Thursday, February 22, 2007
Rompetrol Rafinare (Petromidia refinery) posted in the fourth quarter last year a consolidated turnover of some 720 million dollars, 51 pc higher than in similar period in 2005, Rompetrol Group informs in a press release.In the last three months of 2006, the Earning before Interest, Taxes, Depreciation and Amortization (EBITDA) rose to almost 30 million dollars, as against 7 million in Q4 2005.'Last year, Rompetrol Rafinare reached a record from the point of view of processed raw material ...
Romania in favor of 10 pc target for bio-fuel utilization, proposed by European Commission
Thursday, February 22, 2007
Romania is in favor of a 10 percent target as for the share of bio-fuel's utilization, proposed by the European Commission and supported by the majority of member states, underlining at the same time the need of drawing up some European standards that would rule the mix of bio-fuels with conventional fuels, the Ministry of Environment and Water Management (MMGA) informs in a press release.Minister of Environment and Water Management Sulfina Barbu heads Romania's delegation that participates ...
KPMG study :Environmental standards seen as obstacle for Romanian businesses
Thursday, February 22, 2007
Changing environmental standards will be some of the most important challenges to confront Romanian companies which, however, will profit as a result of the country’s accession to the EU and the implicit possibility to expand to new markets, according to a debate titled „Romania after EU accession: accomplishments and challenges”, organized by KPMG Romania.The debate showed that because Romania obtained EU membership starting January 1, 2007, no Romanian company is able to function without ...
Local court decides against Rosia Montana project
Thursday, February 22, 2007
A local appeals court in Central Romania has decided in favour of an environmental NGO that has been struggling to put a halt to the Rosia Montana gold project in a case focused on the “illegal” use of exploitation wells.Gabriel Resources, the operator of the Rosia Montana Gold Corporation, has been running a campaign arguing the exploitation works would not harm the environment but rather improve the living standards in the area.The nong-governmental organization Alburnus Maior Association ...
Electrica Oltenia reorganization starts from 22 scenarios
Thursday, February 22, 2007
Twenty-two possible scenarios, 3,000 people, of whom only 70 will work in the sales field and breaking up a company in four. This is the reorganisation of Electrica Oltenia, the largest electrical power distribution company on the domestic market, considering the number of consumers it serves, daily Ziarul Financiar says on Tuesday. 'In the beginning we had to choose from 22 possible reorganisation scenarios. There were only two left in the end: to form a holding that would operate through a ...
Romania's electricity exports account for 9.5 percent of 2006 production
Thursday, February 22, 2007
Romania exported 9.5 percent of the total quantity of electricity it produced in 2006, that is 5.2 million MWh, according to data released by the national grid Transelectrica.Romania imported approximately 1 million MWh in 2006.General manager with Transelectrica Stelian Gal says that the countries towards which Romania exported electric power were Serbia (2.9 million MWh), Bulgaria (1.2 million MWh) and Hungary (1.1 million MWh) last year.Transelectrica (transport and system operator in ...
OMV Romania fuel distribution stations are certified for quality and environmental standards
Thursday, February 22, 2007
OMV Romania was certified 9001:2000 and ISO 14001:2004 for the quality and environmental standards of its fuel distribution stations, informs a release .The certification was carried out according to the TUV CERT auditing procedures and it will be periodically verified. OMV Romania was granted the ISO certificates for its management policy and objectives and they are valid for all the 72 gas stations the Company owns throughout Romania.Petrom is the biggest Romanian oil and natural gas ...
Amonil intends to generate electricity
Thursday, February 22, 2007
Chemical fertilisers producer Amonil Slobozia could begin to generate electricity by rehabilitating and starting to operate the thermal plant located on its industrial site (currently not operational) the company's general manager, Victor Dobrescu, said. 'It was the shareholders' decision made last year - they said that the existing thermal plant has to be rehabilitated and that we should generate electricity for our own consumption,' Victor Dobrescu told daily Ziarul Financiar, without ...
Dafora plans business in excess of 53 million euros in 2007
Thursday, February 22, 2007
Oil and natural gas drilling company Dafora Medias (Romania's center) plans in 2007 a turnover in excess of 53 million euros, a rise of at least 25 percent from the previous year, announced the company's representatives.Company's officials are pointing out that the most significant increase is expected in constructions' segment, where they estimate ' 3-4 times higher revenues compared to 2006'.Dafora posted last year a turnover of some 43 million euros, up by approximately 12 pc as against ...
Petrom could set up new petrochemical plant
Thursday, February 22, 2007
Oil Company Petrom wants to establish a company to operate in the petrochemical field, taking over the chemical operations from Arpechim Pitesti (southern Romania).'The measure is part of the modernisation process of Petrom and is in line with the international trends in the field, of separating petrochemical from refining operations. Moreover, the decision will allow the company's management to focus on the opportunities for developing this activity and for making it more efficient,' ...
Economy Minister: We expect between EUR 1.2 and 1.5 billion from Transgaz, Nuclearelectrica and Hidroelectrica's flotation
Thursday, February 22, 2007
Minister of Economy and Commerce Varujan Vosganian on Wednesday told a seminar on energy issues that the state hopes to collect between 1.2 and 1.5 billion euros from the flotation of energy companies with majority public ownership Transgaz, Nuclearelectica, Romgaz and Hidroelectrica. 'The procedures for the selection of the consultant for the listing of Transgaz - probably by public offering, the same pattern used in Transelectrica's case - will be completed next week,' said Vosganian.The ...
Oil company Petrom to invest EUR 100 million a year in new exploration licenses
Thursday, February 22, 2007
Petrom will spend over 100 million euros a year for exploration, with special focus on obtaining new licenses, CEO Mariana Gheorghe stated on Wednesday. 'These investments will mainly envisage the securing of the future, by increasing the number of licenses in Romania and the Caspian Sea region, but also the introduction of 3D technology in exploration,' said Mariana Gheorghe.The Petrom official specified that new perimeters could be identified in Romania, as Hungary's MOL has recently done. ...
Gazprom might invest in gas deposit in Margineni
Thursday, February 22, 2007
Gazprom Russian concern might invest in the gas deposit of Romgaz company in Margineni (northeast of Bucharest), Romgaz general manager Alexa Iacob said on Wednesday at a seminar regarding Romania's energy independence.'We have received an invitation to go to Moscow to talk about this investment. At the end of February or the beginning of March we will meet and take a decision,' Iacob said.The deposit in Margineni has a capacity of 2 billion cubic metres, according to Romgaz.Petrom has also ...
Unit 2 Cernavoda n-plant reactor might be commercially commissioned in September 2007
Thursday, February 22, 2007
The first fuel pellet was fed into the active area of the Unit 2 reactor at the Cernavoda nuclear-power plant on last Thursday and the reactor is expected to be commercially commissioned in September 2007, the Nuclearelectrica National Corporation (SNN) reports in a press release.The first nuclear feeding of the reactor will be performed manually and it will take some 10 days to carry out.According to the SNN release, 1,660 fuel pellets will be fed into the reactor, which means some 100 ...
Public debate on construction of units 3 and 4 at Cernavoda
Thursday, February 22, 2007
The Ministry of Economy and Trade (MEC) has launched on last Friday a public debate on the draft decision as regards investments' implementation in units 3 and 4 from Cernavoda Nuclear Power Station (CNE), MEC informs on its website.According to the draft of this normative act, investors wishing to participate in the construction of these units must meet participation pre-conditions and needed solvency and secure participation with cash to the share capital of the newly set up commercial ...
Romania might export 18 pct of energy output after Cernavoda Unit 2 is commissioned
Thursday, February 22, 2007
Economy and Trade Minister Varujan Vosganian told a news conference Romania might export 18 percent of its energy output once the Cernavoda Nuclear Power Plant's Unit 2 is commissioned.'In the last two years, Romania put to export about 8 to 10 percent of its energy output. The export capacity will grow significantly once reactor 2 is commissioned', he said.Unit 2 has started being loaded with uranium manually on Thursday, with the operation to end on April 25, when the reactor will be fully ...
Nuclearelectrica buys uranium worth 7.8 million euros
Thursday, February 22, 2007
National Company Nuclearelectrica bought from the National Uranium Company 7.8 million euros worth of uranium for Cernavoda Nuclear Plant.The shareholders of Nuclearelectrica approved in November 2006 the purchase of 120 tonnes of uranium powder for 7.8 million euros. Nuclearelectrica will also buy heavy water for units 3 and 4 from the Nuclear Activity Authority worth 15 million euros.Ziarul Financiar announced on Wednesday that the shareholders decided to postpone discussions on energy ...
Nuclear energy to make up 30pc of Romania's total energy output by 2015
Thursday, February 22, 2007
One of the main objectives of Romania's business authorities is to increase to 30 percent the weight of nuclear energy in the total output of Romania's energy by 2015, Minister of Economy and Trade Varujan Vosganian told a seminar on Wednesday on Romania's energy strategy.'We are seeking to bring Romania's nuclear energy production at 28-30 percent of the total, water-power energy at 30-35 percent and the energy generated by coal, crude oil and gas at 35 percent,' said Vosganian.The minister ...
EU reaches deal on emissions cuts
Thursday, February 22, 2007
EU environment ministers have agreed in principle to cut greenhouse emissions by 20% from 1990 levels by 2020. The ministers, meeting in Brussels, also agreed to seek a 30% cut worldwide if matched by other developed nations. The proposals, outlined by the European Commission in January, are seen as a key measure to curb climate change. The EU must still decide how to make cuts, allowing for a possible compromise with member states opposed to mandatory targets. Hungary and Poland, who joined ...