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Energy & Environment
Oil, gas and petrochemicals in Romania
Thursday, September 11, 2014
Petrochemicals BMI has said in a recent report that the failure in the first half of this year to privatise the domestic petrochemicals producer Oltchim is going to weigh on future prospects for Romania’s petrochemical sector. BMI has said that this will be in spite of the improving performance in the local domestic market. During ...
Reuters: Romania energy market to couple with region this year or in 2015
Thursday, September 11, 2014
Romania's energy bourse Opcom will be coupled with Czech, Slovakian and Hungarian markets at the end of this year or in 2015, helping boost exports, Energy Minister Razvan Nicolescu said on Tuesday. "There isn't a set deadline," Nicolescu told reporters on the sidelines of a financial seminar. "We have agreed to accelerate the process from November. We will see if it (the coupling) will happen this year or the next." Nicolescu ...
IEA finds energy efficiency is fuel for economic growth
Thursday, September 11, 2014
The EU does not do enough to conserve energy, endangering security of supply and the global climate, says a new study conducted by the International Energy Agency (IEA), citing enormous growth potential in energy efficiency, EurActiv ...
President Basescu optimistic about Romania covering own, R.Moldova's natural gas demand in 2019-2020
Thursday, September 4, 2014
President Traian Basescu voiced his optimism on Wednesday about Romania being able to cover its own demand of natural gas and also the Republic of Moldova's in 2019-2020, owing to drilling in the Black Sea.'The start of drilling in the Black Sea was a goal of mine; now it has begun. I knew that Deepwater Champion has hit an important resource last year in Domino 1 [field]. Now they're drilling in Domino 2. The Ocean Endeavor platform will stay there implicitly for ...
Basescu: OMV Austria to be our partner as long as national interest served as priority
Thursday, September 4, 2014
President Traian Basescu said on Wednesday that OMV Austria will be the partner of Romania as long as the Romanian national interest is served as a priority.'Although I have said it officially, I also want to say it publicly, since there is a lot of information carried by the news media in which OMV Austria seems to launch policies which are not in the Romanian state's favour. I say it openly, directly that I communicated them the message that they will be our ...
Reuters:Romania president says Exxon, Petrom gas investment at $4-5 bln
Thursday, September 4, 2014
Romania's top oil and gas group Petrom and U.S. major ExxonMobil will need to invest $4-5 billion to extract gas from a Black Sea field, provided additional data confirms their find, President Traian Basescu said on Wednesday, quoted by Reuters. The two companies jointly own Domino-1, the first deep water exploration well in Romanian waters and in 2012, they said they had discovered 1.5-3 trillion cubic feet (42-84 billion ...
Romgaz has the largest gas storage capacity in Romania
Thursday, September 4, 2014
Romgaz Medias invested EUR 27 million in increasing gas storage capacity of its depot in Urziceni, Ialomita county, according to an announcement made on Tuesday by the company.“After an investment of EUR 27 milion the storage capacity of the Urziceni depot will grow from 250 million cbm to 350 million cbm and Romgaz’s total storage capacity will increase from 2.7 billion cbm to 2.8 billion cbm. Romgaz has the largest gas storage capacity in ...
Turnu Magurele-Nikopol hydropower plant, Prut MHPPs, other projects expecting China investments
Thursday, September 4, 2014
Minister of Economy Constantin Nita said on Monday that Chinese investors are expected to participate in the construction of major energy projects, like the Nikopol - Turnu Magurele hydropower plant, or the chain of micro-hydropower plants (MHPP) on the Prut River. 'I'm happy to see again in this hall many company representatives we have been holding talks with in the past ...
Renewable energy facilities reach 4,664 MW capacity in end-July
Thursday, September 4, 2014
The facilities for energy production from renewable sources reached a total capacity of 4,664 MW at the end of July, 2014, according to the data supplied by Transelectrica.Thus the grid recorded wind power facilities with a 2,769 MW capacity, photovoltaic parks with a total capacity of 1,228 MW, micro hydro power plants of 567 MW capacity and biomass-based facilities with a total power of 100 MW.At the end of last year, the grid recorded facilities for ...
100 companies attend the International Electric&Automation Show, IEAS 2014
Thursday, September 4, 2014
The anniversary edition – 10 years of IEAS – will be held between 9 and 12 of September in its traditional location of the Palace of Parliament, in Bucharest. On an area of 3,600 sqm, for 4 days, IEAS will present about 100 companies from Romania and abroad. The main points of the event revolves around energy ...
Wind power companies – VAT challenges in the investment stage (analysis by Mazars)
Thursday, September 4, 2014
In the context of a national and European framework that tends to overshadow the perspectives of the renewable energy, at least on the short term, the investors in green energy could face other challenges, with a direct impact on the forecasted cash-flow. After the investors have made business plans based on the relevant legislation, the rules were changed and this affected the confidence of ...
High voltage transmission line to Serbia requires more than 35 million euros
Thursday, September 4, 2014
High voltage power line project Resita-Pancevo, linking Romania to Serbia, will require an investment of USD 157.5 million and will be implemented in 26 months, according to a Government Decision (HG) approving the technical-economic indicators of the project, published in the Official Gazette. “Financing this investment objective is achieved ...
Government postpones increase of natural gas price for households
Thursday, August 28, 2014
The Romanian state reserves the right of postponing the implementation of the schedule for the liberalization of the natural gas price for households until a dispute with the European Commission is settled; therefore, this price will not increase on October 1 as previously scheduled, the Department of Energy informed in a release.A governmental delegation led by the ...
Enel to complete the sale of its Romanian assets by the end of the year
Thursday, August 28, 2014
Enel confirmed on Tuesday it will sell its assets in Romania by the end of the year, according to Reuters ...
EnvMin Attila: Investments in water and sewerage systems will take us at least ten more years
Thursday, August 28, 2014
Minister of Environment and Climate Change Attila Korodi on Monday explained during his working visit to Covasna County (central Romania) that Romania needs to carry out major investments in its water and sewerage systems for at least ten more years, in order to be able to meet the European standards.However, Korodi Attila added that important progress has already been made ...
Romania exported petroleum products worth 1.583 mln tonnes January through April
Thursday, August 28, 2014
Romania exported 1.483 million tonnes of petroleum products January through April this year and imported 550,000 tonnes, show data centralised by the National Institute of Statistics (INS).Production on this segment accounted for 3.654 million tonnes, 214,000 tonnes of which were used by refineries for their own consumption.Stocks of petroleum products totaled ...
Nuclearelectrica to contribute 2 million euros to two nuclear reactors
Thursday, August 28, 2014
The extraordinary meeting of the shareholders of state-owned Nuclearelectrica nuclear power company approved on Friday the company's contribution of a maximum of two million euros to a contractor company for building the 3rd and 4th reactors of the Cernavoda (southeastern Romania) power plant; the company informed the Bucharest Stock Exchange on Monday about this ...
Vice PM Dragnea to chair Cernavoda reactors 3 and 4 inter-ministry commission
Thursday, August 28, 2014
Prime Minister Victor Ponta decided to set up an inter-ministry commission to deal with a project for building reactors 3 and 4 of Cernavoda Nuclear Power Plant (southeastern Romania), according to a resolution published in the Official Journal on Friday.The commission will be chaired by Vice Prime Minister Liviu Dragnea, also a Minister of Regional Development and Public ...
Schoenherr&Associates to provide legal consultancy nuclear power plant new units
Thursday, August 28, 2014
The Schoenherr & Associates SCA - Herbert Smith Freehills LL consortium won the auction organized by Nuclearelectrica for legal consultancy services within the project involving the Cernavoda nuclear reactors 3 and 4, according to a document of the nuclear power producer. The fee is established according to the number of hours worked, not exceeding the estimated value ...
Energy company exempted from taxes
Thursday, August 28, 2014
The company to administer the future Tarnita-Lapusesti hydropower plant, a project of 1 billion euro will be exempted from several taxes and will be declared unit of strategic national interest.The company to operate the production unit and storage of electricity at Tarnita, Cluj county, will not pay the co-generation tax, green certificates, energy transportation, the price of system service, according to an emergency order elaborated by the ...