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Energy & Environment
UZUC Co. in Ploiesti reports exports worth over 6.5 million euros by end September
Thursday, November 30, 2006
Maker of equipment for the chemical and petrochemical industry UZUC Ploiesti, southern Romania, reported in the first nine months of this year exports worth 6,609,000 euros, representing some 85 percent of the production. Companies based in Italy, Germany, France, the Netherlands, Britain, the US, Japan are among the traditional customers of UZUC Co. "UZUC Co. is manufacturing combustion chambers for the turbines US General Electric is mounting all around the world," said a UZUC ...
Rompetrol Petrochemicals invests 30 million dollars in polyethylene production
Thursday, November 30, 2006
Rompetrol Chemicals, Rompetrol's petrochemicals division, has started to produce low density polyethylene (LDPE) as a result of a 30 million euros investments for modernizing the installation and for building a marine terminal for liquefied gas, a company's press release informs. The company will annually produce up to 60,000 tonnes of LDPE that will lead to a 40 percent increase in turnover. "The first step in this ample 3-year investment plan worth 400 million dollars devoted to ...
Romanians to pay e-waste management tax as of 2007
Thursday, November 30, 2006
After the country joins the European Union, the Romanians will be charged between two and 15 euros in a tax for the management of electric and electronic waste, announced the president of the Association of IT and Communication Equipment Producers and Distributors Valentin Negoita. "The tax will vary according to the weight of the products. For IT objects, which are usually lightweight products, the tax will range between two and 10 euros, whereas the tax for home appliances will vary ...
Romgaz profit up over 30 percent this year
Thursday, November 30, 2006
Gas producer Romgaz Medias (center), one of the most valuable assets in the Romanian state's portfolio, obtained 101.25 million euros in net profits over the first nine months of the year, up by over 30 percent against the 2005 full-year balance. Romgaz, one of the largest gas producers in Eastern Europe - Russia excepted - saw its business increase 48 percent in the period of reference, reaching 613.1 million euros on the background of rising gas tariffs on the domestic ...
Romania and Bulgaria need to remove cross-border pollution sources by 2012
Thursday, November 30, 2006
Romania and Bulgaria need to remove until 2012 cross-border pollution sources; envisaged are mainly two industrial capacities, but also the households in rural areas that use coal for heating, specified on Wednesday Detmar Koch, head of the air quality management project for the Romania-Bulgaria border area in the Lower Danube Basin.Romania and Bulgaria have completed a project that includes an unprecedented program in Europe for the management of air quality in border areas. The Donau ...
Investments in environment included in regional projects
Thursday, November 30, 2006
The association of local authorities in projects and the conclusion of contracts with the regional operators will lower costs for investment maintenance per user, the regional projects offering a cost-benefit ratio superior to investments in infrastructure, Attila Korodi, Secretary of State with the Ministry of the Environment and Water Management, told the third conference on Regional Development Financing concerning the future, candidate or potentially candidate EU states on ...
Electrocentrale Bucharest will be able to contract domestic loan in order to complete energy resources
Thursday, November 30, 2006
SC Electrocentrale Bucharest will be able to contract a domestic loan of approximately 190 million dollars in order to complete the financing of the energy resources acquisitions from Romania or abroad for this winter (fuel oil and natural gas), according to a resolution approved by the Government. The decision was made because the company Electrocentrale in Bucharest does not have enough personal guarantees. The sum will be directed to financing the auxiliary services for the transport and ...
MPs reject overcharging difference between global oil price and domestic drilling costs
Thursday, November 30, 2006
The senators and deputies rejected on Tuesday in a debate on the 2007 draft state budget a proposal of the opposition Greater Romania Party (PRM), backed by the opposition Social Democratic Party, claiming an overcharge of the excise tax as of January 1 on the difference between the global oil and gas price and the extraction costs in Romania. "As President Traian Basescu said, Romania's crude oil and natural gas wealth is being plundered. The head of state said that the drilling costs ...
Senate's investigation commission on Petrom's privatisation to be set up
Thursday, November 30, 2006
The Romanian Senate's Standing Bureau on Tuesday approved the setting up of the investigation commission on the privatisation of Petrom, President of the Senate Nicolae Vacaroiu said. The members of the Senate's leadership approved, in principle, the request of the 38 senators who are to present next week a draft resolution, which is due to concretely establish the commission's objectives and which could be submitted to the plenum for approval. The President of the Romanian Senate said that, ...
Romanian state can re-gain Petrom majority stake, former Prime Minister Adrian Nastase says
Thursday, November 30, 2006
The Romanian state might again become the majority shareholder of Oil Company Petrom if it purchased 1.1 percent of the listed stock, former Prime Minister Adrian Nastase said in an interview with Rompres. "If (President) Traian Basescu is concerned that Gazprom might buy on the stock exchange the 51 percent of the OMV shares (actually, such a share package cannot be acquired by only one buyer), then we could buy, on the stock exchange, just 1.1 percent of the listed shares and ...
OMV : No hidden shareholder in the Austrian Group
Thursday, November 30, 2006
Austrian OMV Group answered suspicions expressed by President Traian Basescu in two interviews given to two national dailies on Monday, suggesting that the Russians from Gazprom would extensively buy OMV equities on the international stock exchange markets, which might end in Russia taking over the control of the Romanian oil resources. Basescu was saying that, if the Austrian state held 31,5 per cent of the company stock and the IPIC investment fund based in Abu Dhabi approximately 17.6 per ...
MEC : Oil and gas reserves sufficient for at most 15 years
Thursday, November 30, 2006
The geological oil and gas reserves could ensure necessary consumption for a period of at most 15 years, for an annual production equal to that in 2005, according to a draft of energy policy for the period 2006 – 2009 initiated by the ministry of economy and trade (MEC). The present reserves of oil are estimated at 73.7 million tons, gas reserves 184.9 billion cubic metres. “ The oil production decreased during the last 30 years from 14.7 million tons to 5.2 million tons. Natural gas ...
Foreign investors interested in taking over CET in Romanian towns
Thursday, November 30, 2006
Several companies in Russia, Sweden, Italy, Germany and Israel are interested in taking over thermal power plants (CET) in various towns, the representative of the ministry of administration and home affairs, responsible with modernisations of the central heating system in Romania Vasile Muntenita said. “ The authorities must be careful as not to go from one state monopoly to a private one, especially as we talk about the population central heating” the MAI representative explained. Among ...
Gaz de France expressed its approval for the declassification of the Distrigaz file
Thursday, November 30, 2006
Gaz de France sent on Wednesday, 29 November to the ministry of economy and trade its agreement regarding the declassification of the privatisation contract for Distrigaz Sud, the head of External Communication Department of Distrigaz Sud, Viviana Zimbilschi stated. Gaz de France is the last company to agree to the publication of the privatisation contract, according to the ministry of economy and trade. The MEC press office sent a press release to announce that on Thursday, before 12.00 ...
Likely permanent representation of Romanian energy in Brussels
Thursday, November 30, 2006
« 2007 will be an important benchmark in the industrial development of electricity in Europe. This year will celebrate a decade since the deregulation of the energy market and will allow the complete opening of the market – according to the second regulations package of deregulation – to become reality in July. 2007 will be a key year for political decisions regarding European energy policy and the future evolution of the market” Nicolae Coroiu, General Director Electrica SA, said in the ...
Radioactive waste deposit near Cernavoda
Thursday, November 30, 2006
A radioactive waste deposit will be built in Stefan Cel Mare village, Saligny locality, Constanta county, near Cernavoda to store waste from the Nuclear Electrical Power Plant. The community hopes to be rewarded by the government for its vicinity with the deposit. This will be built before 2014 and will cover a surface of 24 ha. The mayor of Saligy, Gabriel Tatulescu stated the local authority agreed to have a feasibility study made regarding the building of the deposit. “ In a similar ...
Romania interested in cooperation with Norwegian companies on strategy in energy
Thursday, November 23, 2006
A delegation of the Romanian Senate led by President Nicolae Vacaroiu met late on Wednesday in Oslo with Minister of Oil and Energy Odd-Roger Enoksen. Vacaroiu said Romania is interested in cooperation with Norwegian companies for devising together a strategy in energy. "We also wish to attract them in major investment in the hydro-electric field, the rehabilitation and upgrading of our hydro-power stations and co-generation plants. The Norwegians' modernizations look performing ...
200m-euro investments to cut Arpechim's costs
Thursday, November 23, 2006
Petrom, the biggest Romanian company, controlled by OMV Austria, has earmarked 200 million euros for investments in the modernisation of Arpechim Pitesti petrochemical and refining platform over the next five years, the Ziarul Financiar daily said . In parallel, the company plans to invest one billion euros in Petrobrazi Ploiesti refinery. "We are going to invest 200 million euros by 2011 to boost the efficiency of the refinery. Arpechim is part of our strategy related to the ...
Electrica Oltenia posts 37.5 million euros in profit
Thursday, November 23, 2006
The electricity supplier Electrica Oltenia registered over the first nine months of this year 37.5 million euros in gross profit and a general turnover worth 271.8 million euros, the representatives of the majority shareholder, the Czech energy producer group CEZ announced. According to them, in the above-mentioned period the operational profit calculated in compliance with the international accountancy standards reached 59.16 million euros. According to the company's ...
Romania-Hungary declaration on cooperation for development of Danube Complex Zone
Thursday, November 23, 2006
The Romanian and Hungarian authorities will work out a bilateral cooperation program for the sustainable and integrated development of the Complex Danube Zone, addressing Danube-riparian countries. The Romanian Ministry of Transportation, Construction and Tourism and the Republic of Hungary's Ministry of Local Public Authorities and Territory Development adopted on Thursday, in a joint government meeting, a declaration regarding cooperation for the integrated spatial development of the ...