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Energy & Environment
Premier Calin Popescu-Tariceanu advises more intense energy relations with Russian Federation
Thursday, November 2, 2006
Romania should intensify her energy relations with the Russian Federation, Prime Minister Calin Popescu-Tariceanu told a seminar on economic issues on Tuesday."Romanian companies should look to Russia and Ukraine. Romania's relation with Russia needs to be more intense," said Tariceanu.Imports of natural gas account for 90 percent of Romania's imports from Russia, whereas trades in the converse direction are very feeble.The Premier considers that given the natural gas crisis last year, the ...
Biodiesel plant Martifer to be financed by 25 million euros
Thursday, November 2, 2006
The project of the Portuguese Group Martifer regarding the construction in Romania of a plant producing biodiesel (a fuel obtained through rape-seed and sunflower-seed processing) will be financed with 25.1 million euros by BRD-Groupe Societe Generale and Portuguese bank Caixa Geral de Depositos. The over 41 million euros project will be developed through two companies, Biomart Energy (having as its main objective the biodiesel production) and Agromart Energy (which operates in the ...
Enel to invest 330 million euros in Romania in the five years to come
Thursday, November 2, 2006
Italian electricity company Enel plans to invest in the five years to come 330 million euros in Romania in order to improve the quality of services, stated on Tuesday, in Roma, Gianluca Caccialupi, Director general of Enel Electrica Banat and Enel Electrica Dobrogea."We want to invest in upgrading the infrastructure, in the better functioning of the grid because at present this grid incurs unacceptable losses. We have an investment plan for the grid, spanning a five-year period, of 330 ...
Petrom to invest 70M euro in building new gas processing facility
Thursday, November 2, 2006
Petrom, the largest oil and gas producer in South Eastern Europe, signed on Tuesday a contract with the Linde Group for the construction of a new gas processing plant at Midia, next to existing facilities. More than 70 million euros are to be invested in the new project, Werner Ladwein, member of the Managing Committee of Petrom, responsible for exploration and production informs in a press release. The completion and start-up of the new unit is scheduled for the end of second quarter of ...
In the Balkans,fierce fight for electrical energy
Thursday, November 2, 2006
The request of the European Union to close the nuclear plant in Kozlodui worries a number of Balkan countries, with the exception of Romania. This is due to the fact that the respective countries ( Albania, Macedonia and Montenegro) depend on electrical energy import – at a convenient price – from Bulgaria. The likely closure, on December 31, of two out of the four reactors in the Kozlodui power plant is expected with fear by energy specialists in the southern-eastern countries. The ...
Inflation, kept under control by natural gas price
Thursday, November 2, 2006
Starting with November 1, the price for natural gas has gone up, although this process was scheduled to start on January 1, president Traian Basescu stated during an economic forum. He mentioned that inflation is on the decrease, under 4%, as this year’s target was 5.5%. In this context, the head of state mentioned that gas price will go up by 8-9% to diminish the shock of integration, of the three increases by three percentage points scheduled for 2007, as we have negotiated in the “ ...
Natural gas price to go up 8 percent
Thursday, November 2, 2006
The price of natural gas for captive consumers advances 8.1 - 8.5 percent as of November 11, the National Regulatory Authority for Natural Gas announced on last Friday.The tariffs will rise due to the major risks for the security of natural gas providers caused by the lack of contracts, the main hurdle being the price of local production. The Authority must recalculate the final price to consumers, so as to allow the conclusion of these contracts.The Authority will make public in November ...
Romgaz Co. eyes foreign markets
Thursday, October 26, 2006
Romgaz Co. based in Medias, center of Romania, intends to extend its natural gas exploration activities on foreign markets, as there are not too many reservoirs in Romania. The company is currently in talks with Hungarian Mol group. Daily Ziarul Financiar quotes the company as saying that after having won a tender held by Mol, Romgaz is almost ready to sign a contract. The company intends to increase its storage capacity to four billion cu m by 2008. Romgaz has stored for the coming winter ...
Rompetrol introduces its own fuel brand
Thursday, October 26, 2006
Petroleum group Rompetrol, run by businessman Dinu Patriciu, will invest 1 million euros in the first two months of promotion for its first brand of fuels sold in its own petrol station network, Efix, produced in compliance with the Euro 4 pollution standard. Production costs for the new type of fuel amount to 80,000 euros, which includes costs for the additives necessary to produce this type of fuel, as well as to automate the refining processes. During the launch, Rompetrol announced that ...
Romania puts out over 3M tonnes crude oil over first eight months of 2006
Thursday, October 26, 2006
Romania extracted 3.222 million tonnes crude oil during the first eight months of the year, National Statistics Institute data read.As much as 405,495 tonnes oil was put out in August, by 984 tonnes less than a month before, and by 29,630 tonnes less than in the same period last year. On Aug. 31, 2006, 103,000 tonnes crude were reported stored. ...
Yet another 52 mines to be closed down with World Bank funding
Thursday, October 26, 2006
The Ministry of Environment and Water Management (MMGA) and the Ministry of Economy and Commerce have worked out a plan for the closing down of yet another 52 mines under enhanced environmental safety conditions. The World Bank (WB) supports the operation with 1.44 billion euros, said Silvian Ionescu, commissioner-general with the National Environment Watch."As many as 441 mines were closed down so far, but under conditions that many a time endanger environmental factors and river ...
Electricity to be bought only through Bucharest Stock Exchange starting next year
Thursday, October 26, 2006
The electricity producers will sell on the basis of the bilateral contracts starting next year, Economy and Trade Minister Codrut Seres announced on last Thursday. According to an order of the Romanian Economy Minister, the sale of the entire available quantity of electricity will compulsorily be made on the centralised market of the bilateral contracts, managed by the Electricity Market Operator Trading Company (SC Operatorul Pietei de Energie Electrica). The transactions in anonymous ...
Petrom to enter the electricity market in a few months
Thursday, October 26, 2006
Petrom will continue in the coming year its international development, the objective of the company being to become the biggest integrated oil and gas company in South-eastern Europe in 2010, in the context in which the company is preparing to join the electricity market. »Petrom is reviewing the possibility to enter the electricity market and, yes, it will do this in the coming months », stated on Thursday Werner Schinhan, Deputy General Manager of the company, at an economic seminar. The ...
European project worth 1.6 million euros to be developed in Alba Iulia
Thursday, October 26, 2006
Alba Iulia (north-west of Bucharest) is the only Romanian city taken as partner in a European project worth more than 1.6 million euros on energy sustainability. The Alba Iulia City mayor Mircea Hava signed recently in the UK the financing agreement of the ASPIRE - "Achieving Energy and Sustainability in Peripheral Regions of Europe" project. With a total budget amounting to 1,643,093 euros, the project is part of the "Intelligent Energy Europe" programme having as the general ...
Romania implements 2 million euros worth of projects for water quality improvement
Thursday, October 26, 2006
The overall value of the projects implemented by the Environment and Water Management Ministry aimed at improving the water quality all across Romania stands at 2.475 million euros, State Secretary Lucia Ana Varga told a news conference on Monday. Varga unveiled the most recent such project called "Consultancy for the improvement of the economic analysis in the water sector, as an integral part of the management plan aimed at the Dobrogea Coast Hydrographical Basin" (southeastern ...
Rompetrol registered losses of three million dollars over the first nine months
Thursday, October 26, 2006
The Rompetrol group achieved in the first nine months of the year consolidated turnover of 4.28 billion dollars, twice higher than the similar period of last year and losses of three million dollars, including interests and depreciations. During the same period of time, operational profit reached 125 million dollars. “ The depreciation of the dollar against the European currency generated unrealized forex which together with increase in interest rates affected the net result.” Adrian ...
Biodiesel attracts investments worth 240 million euros in Romania
Thursday, October 26, 2006
Foreign and domestic companies run investment programmes worth 240 million euros to produce biodiesel on a market that attracts ever rising investors, said Vasile Stancu official with the Ministry of Agriculture, Forestry and Rural Development (MAPDR). ''Over the past three years we've been bombarded with investors from the UK, the Netherlands, Portugal or Spain who aim to invest in order to produce biodiesel in Romania, which is very sought-after in western countries,'' said ...
Biofuel, investment boom in Romania
Thursday, October 26, 2006
Until accession to the EU, 2% of the fuel used in Romania must be bio, the latest EU-RO Newsletter issue shows. This percentage will grow gradually, to reah 5.75% by the end of 2010. The European Union proposed that 5.75% of the total quantity of fuel for 2010 in the EU area to come from bioenergy crops. Energy crops are agricultural crops used to obtain biofuel and energy through biomass and they are used in the EU especially for the production of biofuel and less for the production of ...
Green energy – 33% of consumption by 2010
Thursday, October 26, 2006
Romania must encourage investments in renewable sources of energy, so that the rate of electrical energy produced out of renewable sources of energy, as compared to the national consumption level of electrical energy reaches 33% by 2010, the equivalent value with a total of 21.4 TWh. The strategic objective proposed in the White Chart of the European Commission for a Community Strategy “ Energy for the future: renewable sources of energy” consists of doubling, by 2010 the importance of ...
Greenpeace rejects the preliminary environment report for Cernavoda 3 and 4
Thursday, October 26, 2006
On Wednesday October 25 2006, the environmental non-governmental organisation Greenpeace sent to the Romanian authorities their comments regarding the request regarding environment agreement Unit 3 and 4 in the Cernavoda Nuclear Unit. In the analysis Greenpeace concludes that the project should be stopped as it does not meet the criteria regarding the most advanced available technology, representing an inacceptable risk against terrorist attacks and produces radioactive waste with no ...