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Energy & Environment
Russia –Algeria agreement in energy sector worries Brussels
Thursday, January 25, 2007
Extreme worry in European cabinets due to the tightening of relations in the energy sector between Russia and Algeria. The two countries will sign a collaboration protocol, France Press informs, fact which increases the worry of the European concering the setting up of European gas cartel. The Russian minister of industry and energy, Victor Kristenko, accompanied by the vice-chairman of Gazprom, were last Friday in Algeria to sign the protocol with the State company Sonatrach. Russia’ s ...
OMV expects performance as lubricants producer
Thursday, January 25, 2007
OMV intends to strengthen its position on the lubricants market and become one of the first three suppliers in Central Europe, a press conference of the company informs. Through the production units of Petrol Ofisi as well as through the expansion of their own production units, OMV intends to triple its lubricant sale volume up to 100,000 tons per year by 2011. OMV will deliver OMV BIXXOL from Vienna to its key-markets in Central Europe and other countries in the Middle and Far East. The ...
Nuclearelectrica energy, reason for allegations regarding :Benyatov’s undermining the Romanian economy
Thursday, January 18, 2007
Vadim Benyatov is allegedly accused of attempt to undermine the national economy, due to the contracts through which the Marco international group acquired cheap energy from Nuclearelectrica group, says the document regarding the prolongation of warrants for the four people detained in custody. The DIICOT prosecutors decided to prolong the research for Stamen Stantchev, Mihai Radu Donciu and Vadim Benyatov, for new acts of treason and espionage connected to the national defence industry and ...
Faur Bucharest might supply electricity
Thursday, January 18, 2007
Faur Bucharest steel products manufacturer has enlarged its activity and it supplies and trades electricity and gas fuels, now.Faur shareholders okayed the decision in a general sitting. Faur’s share capital amounts to 37.6 million RON and its shares are listed with Bucharest Stock Exchange; the Company is part of Bega Group numbering 29 companies.A consortium including companies such as Laminate Bucharest, Astra Romana Refinery in Ploiesti and Begacim Bucharest took over Faur through a ...
Rompetrol Group estimates 7.5 billion dollar turnover in 2007
Thursday, January 18, 2007
Rompetrol Oil Group, led by businessman Dinu Patriciu, estimates a 7.5 billion dollar turnover this year, up 23 percent compared to 2006 estimated level.Ziarul Financiar quotes Patriciu as saying that the level is due to the increase in international trading activities, some 30 percent of business being carried out in Romania.Local business could reach 1.8 billion euros this year, mainly due to Rompetrol Rafinare, the main company. Operational profit could reach 270 million dollars, ...
European Commissioner for Energy: 'Romania's Black Sea initiative, essential for EU'
Thursday, January 18, 2007
Romania will play an essential role in the regional policy of the European Union, asserts the author of the EU energy strategy, Commissioner Andris Piebalgs, in an interview published on Monday in daily 'Romania libera.' The strategy proposes the establishment of regional energy markets that should include the Balkan states and Moldova and - in the longer run - the countries in the Black Sea region.'Romania enters the EU with plenty of information about energy security. The evolution of ...
Electricity becomes more expensive
Thursday, January 18, 2007
The insufficient production of energy at national level as well as the shutdown of several nuclear reactors in Bulgaria and Slovakia could make the price of electricity go further up.In 2006, power plants produced electricity at maximum capacity, but the low flow of Danube in 2006 caused problems. The National Energy Regulatory Authority announced that the price of electricity for domestic users could go further up as of April 1.The Authority compels the electricity producers to deliver ...
Jupiter oil-rig riches Rijeka for upgrading
Thursday, January 18, 2007
Jupiter oil rig own by Romanian Grup Servicii Petroliere (GSP) reached Rijeka Croatian harbor on Tuesday morning for extensive repair works and upgrading.GSP Director Fanel Hahui told Rompres that Jupiter, one of the seven oil rigs held by the company, will be kept for 4-5 months in Rijenka Port in order to undergo upgrading works and to be brought to the highest standards in the sea-oil field.'We signed a contract with the Croatian navy shipyard in order to turn Jupiter into a canty lever ...
SIFs are still the gold mines of the Stock Exchange
Thursday, January 18, 2007
Despite some uninteresting companies left in their portfolios, the five Financial Investment Societies (SIFs) still have resources to appreciate on the Bucharest Stock Exchange - mainly due to their participation in the Romanian Commercial Bank - and can still produce yields above the market average.In recent years, the SIFs were among the bourse blue-chips, having all the time a potential for further quotation increase, writes the Saptamana financiara weekly in its latest issue. So, the ...
Enel Co. intends to invest 1.5 billion euros in Romania by 2015
Thursday, January 18, 2007
Enel Co. intends to invest 1.5 billion euros over 2006-2015 in Romania, a country holding a priority position in the company’s development strategy, the Romanian Ministry of Economy and Trade (MEC) says in a release.A MEC delegation, led by State Secretary Eugen Tapu Nazare, met on Tuesday an Enel delegation, headed by Fulvio Conti, Executive President of Enel Italy, who congratulated Romania for its EU accession and unveiled the company’s investment plans.The Romanian officials outlined ...
Romanian Minister Delegate for Commerce Iuliu Winkler seeks a cooperation with India in the petroleum field
Thursday, January 18, 2007
Romanian Minister Delegate for Commerce Iuliu Winkler, attending Petrotech international oil and gas exhibition, on Wednesday met Indian Prime Minister Manmohan Singh.Among the heads of foreign delegations attending Petrotech were Nigerian Energy Minister Admund Maduabebe Daukoru, Saudi Arabian Minister of Petroleum Ali bin Ibrahim Al-Naimi, Energy Minister of Qatar Sheikh Abdullah bin Hamad al-Attiyeh, Sudanese Energy Minister Awad Ahmed Al-Jazz, Iranian Minister of Petroleum Seyed Hazem ...
Rompetrol - interested in Panchevo and Novi Sad refineries
Thursday, January 18, 2007
Romanian oil giant Rompetrol made public in a press release its interest in the privatization of the Serbian "Naftna Industrija Srbije" company. According to the release, Rompetrol is mainly attracted by the synergy between the two refineries owned by NIS in Panchevo and Novi Sad and its own refineries in Romania, Petromidia and Vega Ploiesti. "The operations' integration would bring benefits to both sides", company officials say.At the same time, in distribution, the Panchevo refinery would ...
Environment ministry launches Phare project on waste management
Thursday, January 18, 2007
The Romanian Environment and Water Management Ministry has launched the Phare project called 'Education and information campaigns on issues related to waste management' worth 1.2 million euros, the ministry said in a release .The project is to be conducted by the end of this October, with a view to improving the environmental authorities’ competences in the implementation of the waste management laws, by the involvement of the public and of the interested factors, as well as in the ...
Hidroelectrica company to cut this year’s energy delivery to half due to low river flows
Thursday, January 18, 2007
Hidroelectrica company will cut this year’s energy deliveries to half due to the low flows of the Danube River, the inland rivers and the low level of the reservoirs.The Portile de Fier (Iron Gates) hydro-power station, on the Danube, is currently producing by 22 percent less energy because of the low river levels. 'The Danube flow is about 4,000 cubic meters a second at present, compared to the January usual average of 5,100,' Hidroelectrica officials said, explaining that if the river flow ...
PM Tariceanu answers opponents of Belene nuclear power plant
Thursday, January 18, 2007
Prime Minister Calin Popescu-Tariceanu was requested on Thursday, during a visit to the town of Alexandria (southwest of Bucharest) by the director of the local radio station to answer a petition signed by 40,000 county residents against the planned building of the nuclear power plant in Belene, Bulgaria.Tariceanu said he would look into the situation, but he would ask for a 'competent answer' from the Environment and Water Management Ministry and the authorities responsible for the ...
Romania : Primary energy resources up 1.8 percent in 11months of 2006
Thursday, January 18, 2007
The primary energy resources went up, over January - November 2006, by 1.8 percent compared to the first 11 months of 2005, whereas the electricity resources grew by 2.9 percent, according to figures centralised by the National Statistics Institute. The main primary energy resources, in the aforementioned period, totalled 38.184 million tonnes of oil equivalent (toe), up by 677,000 toe compared to the same period in 2005. The domestic output totalled 22.384 million toe and maintained to the ...
An international Energy Policy where the EU speaks with one voice
Thursday, January 18, 2007
The European Union cannot achieve its energy and climate change objectives on its own. It needs to work with both developed and developing countries and energy consumers and producers. The European Union will develop effective solidarity mechanisms to deal with any energy supply crisis and actively develop a common external energy policy to increasingly "speak with one voice" with third countries. It will endeavour to develop real energy partnerships with suppliers based on transparency, ...
EU : Commission proposes an integrated energy and climate change package to cut emissions for the 21st Century
Thursday, January 18, 2007
The European Commission recently proposed a comprehensive package of measures to establish a new Energy Policy for Europe to combat climate change and boost the EU's energy security and competitiveness. The package of proposals set a series of ambitious targets on greenhouse gas emissions and renewable energy and aim to create a true internal market for energy and strengthen effective regulation. The Commission believes that when an international agreement is reached on the post-2012 ...
Two millon euro transaction on gas market
Thursday, January 11, 2007
Aurelian Oil & Gas, a British company operating in oil and natural gas production, will take over the local subsidiary of Ascent Resources, Millennium International Resources Corporation, through its Romanian branch, in a two million-euro transaction, Ziarul Financiar daily said on Wednesday. 'The acquisition of shares is important to us, because through this purchase we will increase our stake in three of our four concessions, for which we are conducting exploration projects in 2007,' ...
The decision to close the Bulgarian nuclear reactors could be reconsidered
Thursday, January 11, 2007
The new European Commissioner for Consumer Protection, Meglena Kuneva suggested on Wendesday ( January 3rd) that the recent decision to close down two reactors in the nuclear powerplant in Kozlodui might be reconsidered, if the idea was supported within the EU. She made this commentary during the launching of the European Commission Office in Sofia to replace the former European Commission Delegation after Bulgaria accessed the EU. According to Kuneva, the matter could be reconsidered on ...