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Energy & Environment
PM Ponta promises mediation between natural gas producers, big consumers
Thursday, May 29, 2014
After a visit to the Azomures chemicals works on Friday, Prime Minister Victor Ponta said this is a strategic facility and next week the Government will mediate negotiations between natural gas producers - OMV Petrom and Romgaz - and big consumers to reach fair prices.'On my visit to this part of the country, I wanted very much to halt at Azomures because, first of all, I believe Azomures is more than an important economic facility to Romania, as it is a strategic ...
Minister Teodorovici: MEDGREEN projects contribute to Romania's obtaining energy independence
Thursday, May 29, 2014
European Funds Minister Eugen Teodorovici said that the contracts signed in Timisoara (western Romania) on Thursday on MEDGREEN projects, aimed at producing equipment in the green economy area, will contribute to the creation of new jobs and the preservation of some of the current ones, but also to reaching the objective concerning Romania's energy independence.'The ...
Eurostat: Greece and Romania has the highest increases in household electricity prices
Thursday, May 29, 2014
In the EU28, household electricity prices rose by 2.8% on average between the second half of 2012 and the second half of 2013, after an increase of 6.0% between the second half of 2011 and 2012. Household gas prices increased by 1.0% on average in the EU28 between the second half of 2012 and 2013, after a rise of 8.2% between the second half of 2011 and ...
EBRD and Kazakhstan agree historic partnership to boost reform and investment
Thursday, May 29, 2014
*Partnership between Kazakhstan and IFIs will manage US$ 2.7 billion; funds will help EBRD increase own investment The European Bank for Reconstruction and Development (EBRD) and the government of Kazakhstan have agreed on a ground-breaking partnership that ...
U.S. VP Biden: Romania can become key connection point for energy markets
Thursday, May 22, 2014
Romania can become the key connection point for energy markets from the Black Sea to Central and Eastern Europe, provided that it modernizes its specific infrastructure, U.S. Vice President Joe Biden said at the Victoria Palace of Government. National security and energy security are inseparable in this part of the world and the European energy market must be safe, diverse and interconnected, Biden said in a joint press statement delivered with Prime Minister Victor Ponta. ...
PM Ponta: Chevron, always better than Gazprom
Thursday, May 22, 2014
Prime Minister Victor Ponta on Wednesday said he had discussed with visiting US Vice-President Joe Biden the exploitation of shale gas and told him that in Romania, US company Chevron is more desirable than Russia's Gazprom.'We discussed shale gas. It is quite clear that the US is encouraging such exploitation. They already have a significant output that meets all the environmental protection rules and Romania can learn from both the good things done in the US, and from the ...
Romania is open to investments for ensuring energy independence
Thursday, May 22, 2014
Romania invests much to develop a strategic concept of energy independence, so Russia can never stop Romania's and the Republic of Moldova's regular functioning using the energy supply, Prime Minister Victor Ponta said on Wednesday in a joint press statement with US Vice President Joe Biden.The Romanian Prime Minister added that, in the discussion with the US Vice President, he underscored the importance of the investments Romania made from budget sources, European funding and ...
Romania and R. of Moldova want to speed up draw-up of feasibility studies for power grid interconnecting
Thursday, May 22, 2014
Romania's Minister Delegate for Energy Razvan Nicolescu and Republic of Moldova Prime Minister Iurie Leanca on Monday talked about the energy projects of the two states, paying a special attention to the Iasi-Ungheni gas pipeline and to the power grid interconnecting.In regards with the power grid interconnecting, 'it has been decided to speed up the feasibility studies draw-up: Isaccea-Vulcanesti-Chisinau and Romania-Ungheni-Straseni,' according to a release of the Government of ...
Net coal production, down 11.7%, in Q1 2014
Thursday, May 22, 2014
Romania's net coal production totaled, in Q1 2014, 1.129 million tonnes of oil equivalent (toe), by 11.7% (149.600 toe) lower compared to the same period of last year, according to the data centralized by the National Institute of Statistics (INS). In the said period, Romania imported 96,900 toe of net coal, by 64,800 toe (40.01%) less than the quantity imported in Q1 ...
OPCOM starts new trading platform on energy exchange
Thursday, May 22, 2014
OPCOM, the operator of Romania's electricity, has started the centralized market with continuous double negotiation of bilateral electricity contracts PC-OTC, according to a press release of the Association of Electricity Suppliers in Romania (AFEER).The first trading session on this platform was held on Friday, May 16, when two transactions have already taken place.'We welcome the start of PC-OTC platform and the first transactions made. I ...
Coal sector to hold important place in Romania's energy strategy (state secretary)
Thursday, May 22, 2014
The coal sector will hold an important place in Romania's energy strategy given that it currently ensures some 30% of electricity production, Karoly Borbely, State Secretary in the Energy Department, told a Thursday's conference on coal industry costs.'The coal sector will hold an important place in Romania's energy strategy. Solutions must be found for the coal-based companies to function effectively. The mines that will be closed down receive ...
Transgaz closes Q1, 2014 on a net profit of nearly RON 249 million, up 37 pct
Thursday, May 22, 2014
Transgaz Medias national gas transmission corporation has reported a Q1, 2014 gross profit of RON 273.342 million, up 29 per cent from Q 1, 2013, and a net profit of RON 248.803 million, up 37 per cent, according to a press release issued by the Bucharest Stock Exchange (BVB).Total revenue was also up 15 per cent, or RON 70.357 million, from the first three months of 2013, to RON 526.757 million. The increase in revenue was mainly the result of an ...
FP is about to exit from Transelectrica shareholding
Thursday, May 22, 2014
Fondul Proprietatea (FP) would want to sell its 13.49% stake in Transelectrica and it selected Romanian brokers to seek buyers, most likely through a private placement as in the case of its exit from Transgaz shareholding, said sources in the power and capital markets to Bursa daily. Then FP sold the shares it owned in the gas transmission system operator for 68.2 million euros. At the closing of the Monday trading session, a share of the operator of the electricity transmission ...
Alro Slatina continues investments in energy efficiency
Thursday, May 22, 2014
Alro developed a new technology, which could decrease the energy consumption by approx. 100 kWh/tonne of aluminium, which will help the company reduce its recent loss caused by the energy prices surge. Alro, one of the largest aluminium producers in Central and Eastern Europe, continues the strategy of increasing the energy efficiency, by testing new technologies in the electrolysis sector. These could decrease the energy consumption with 100 kWh/tonne of electrolytic aluminium, ...
EurActiv: EU set to overshoot 2020 climate goals, split over 2030
Thursday, May 22, 2014
The European Union will cut its carbon emissions in 2020 by a bigger margin than it has pledged it would under United Nation climate change treaties, a meeting of the bloc's environment ministers was told on Wednesday (14 May). "Europe will be overachieving in 2020," Hans Bruyninckx, Executive Director of the European Environment Agency said after presenting his organisation's findings to ministers and European ...
EU figures show carbon credit glut persists, but offset data withheld
Thursday, May 22, 2014
Environmentalists reacted with dismay after new EU figures for 2013 showed that the flagship Emissions Trading System (ETS) was still over-supplied by 2.1 billion carbon allowances and data on carbon offsetting was partially withheld. The ETS is supposed to drive carbon dioxide emissions reductions in Europe and help EU states meet the bloc’s climate targets. But at €5 per tonne of CO2, carbon allowances provide industry with little incentive ...
Nuclear energy is and will remain priority of Romania's energy policy
Thursday, May 15, 2014
Nuclear energy is and will remain a priority of Romania's energy policy, and the project of Cernavoda reactors 3 and 4 will be completed, said on Wednesday Minister-delegate for Energy Razvan Nicolescu, paying visit to the nuclear power plant in Cernavoda (south-eastern Romania). 'Given the revision of Romania's energy strategy, some of the first conclusions show very clearly that nuclear energy is and will remain a priority of ...
Net profit of OMV Petrom, down 19% in Q1
Thursday, May 15, 2014
OMV Petrom's net profit decreased by 19% in Q1 2014, to 1.075 billion lei, compared to the same period of last year, according to the financial report of the company, released on Tuesday.In Q1 2013, the company saw a net gain of 1.332 billion lei.At the same time, OMV Petrom's sales decreased by 9% to 5.296 billion lei, from 5.789 billion lei, the value of the indicator in the same period of last year.'Our financial performance in Q1 2014 ...
Estimated natural gas consumption - down 9% in Q1, electricity one - down 3%
Thursday, May 15, 2014
The estimated natural gas consumption of Romania decreased by 9% in the first quarter of 2014, and the electricity one by 3%, mainly due to the lower demand from the industrial sector, reads OMV Petrom's quarterly report published on Tuesday.'Romania's estimated natural gas consumption decreased by 9% from Q1 2013, due to the contraction of the industry sector's demand and as effect of the mild winter. Petrom's gas sales volume went down by 18%, reflecting also ...
State Secretary Ciamba stresses importance of EU energy security at General Affairs Council meeting
Thursday, May 15, 2014
Romanian Foreign Ministry's State Secretary for European Affairs, George Ciamba on Tuesday at the meeting of the EU's General Affairs Council stressed the particular importance of the European Union's energy security, especially amid the worrisome developments in Ukraine, the ministry reports in a release.'The exchange of opinions of the EU member states' ministers of foreign affairs or European affairs highlighted the general interest of the member states in ...