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Energy & Environment
Transelectrica's profit, up 61-pc in 2010
Thursday, February 17, 2011
Romania's Transelectrica National Electricity Transmission Corporation closed 2010 on a net profit of 2.32 million euros (RON 9.901 million), up 61 percent from 2009's 1.44 million euros (RON 6.135 million), according to preliminary data submitted to the Bucharest Stock Exchange.The business turnover of the corporation advanced 1.16 percent, from RON 2.485 billion in 2009 to RON 2.513 billion in 2010, while revenues increased by 4.17 percent, from RON 2.541 billion to RON 2.647 ...
AGRI project
Thursday, February 17, 2011
Facing a recognized need to boost gas exports through the Southern Corridor and a slow implementation of the Nabucco pipeline, Azerbaijan has launched a new LNG project: the Azerbaijan-Georgia-Romania Interconnector (AGRI), which will transport Azerbaijani gas by pipeline to a Black Sea port in Georgia for liquefaction and further transport to the Romanian Black Sea port of Constanta via tanker.The gas will then be pumped through Romania’s pipeline system further to the neighboring ...
Implementation company of AGRI project to be set up in second half of 2011
Thursday, February 17, 2011
Implementation company of AGRI project is to be set up in the second half of 2011, with the participation of Azerbaijan, Georgia, Romania and Hungary, and the feasibility study will be completed in the first six months of this year, Tudor Serban, advisor to the Minister of Economy, told AGERPRES. 'The feasibility study for the AGRI project could take six months. Thus, after the first half of 2011, we can talk about the setting up of the pipeline construction company. Azerbaijan, Georgia, ...
EC institutes infringement procedure against Romania on energy product storage warehouses legislation
Thursday, February 10, 2011
The European Commission has instituted infringement proceedings against Romania over legislation saying that only warehouse keepers who are authorized to produce energy products and keep petrol refining capacities are allowed to use storage warehouses for energy products. In January, the National Union of Road Transporters in Romania (UNTRR) notified the Commission about an emergency ordinance issued by the government in 2010 which includes the new rules.The EC sent a letter ...
Transelectrica to bid for investments worth 109M euros
Thursday, February 10, 2011
Transelectrica the Romanian Power System's transmission and system operator (listed as TEL on the Bucharest Stock Exchange) plans to invest about 109 million euros, namely 464 million lei in the works on the grids it owns, the Bursa daily reads.The Company will organize an open tender, on March 17, for the purpose. And the works will be funded by the Company's money.Transelectrical schedules investments worth 110 million euros (466.5 million lei) this year, with over 67 ...
Romania Pleads To Include Serbia, Moldova In EU Single Energy Market
Thursday, February 10, 2011
Romanian President Traian Basescu said Friday at the European Council meeting in Brussels that non-EU countries like Serbia and the Republic of Moldova should be connected to the EU’s single energy market, which is set to be established by 2014 the president’s office said in a press release Saturday."The Council has a conclusion for the creation of the single energy market in the European Union, which means that, by 2014, all regulations regarding the single energy market should be in ...
Romgaz and Hidroelectrica stand small chances to be listed on BVB in 2011
Thursday, February 10, 2011
The chances for Romgaz and Hidroelectrica companies to be listed on the Bucharest Stock Exchange (BVB) in 2011 are small, appreciates BVB CEO Valentin Ionescu.'In Romgaz an initial public offer must be made, which requires a larger preparation and they have not started preparations yet,' said Valentin Ionescu, who participated in a seminar on Proprietatea Fund at the end of last week.As far as Hidroelectrica is concerned, a possible listing depends on the authorities' ...
BNR Governor Mugur Isarescu believes oil price is to remain tolerable
Thursday, February 10, 2011
Oil remains a source of inflationary pressure, the fuel price stays though tolerable compared with the inflation target, Governor of the National Bank of Romania (BNR) Mugur Isarescu said on Monday.Isarescu also said that there was a slight probability of some inflationary pressures appearing on the labour market.'Therefore, there are great chances for us to meet the interval we targeted, in case political or social pressures do no appear,' the BNR Governor also said. 'We ...
INS: Consumption of electricity increased by 3.8pct in 2010
Thursday, February 10, 2011
Final consumption of electricity in Romania amounted in 2010 to 50.520 billion kWh, 3.8 percent higher compared to 2009. Public lighting decreased by 5.9 percent and household consumption increased by 1.7 percent, according to data centralized by the National Statistics Institute (INS). In 2010, primary energy resources have decreased by 0.3 percent and the ones of electricity increased by 4.2 percent as against 2009. Main resources of primary energy amounted to 34.090 million ...
Jeffrey Franks (IMF): Household consumers should not worry over energy price hikes
Thursday, February 10, 2011
Household consumers should not worry over energy price hikes in the upcoming period, said on Tuesday the head of International Monetary Fund (IMF) mission to Romania, Jeffrey Franks, in a press conference at the conclusion of the seventh IMF evaluation mission. 'The problem is that some consumers pay more than others, but we did not talk specifically about certain percentages related to energy price hikes. Household consumers should not be afraid of energy price growth in the ...
Romania has lowest environment taxes, lowest fuel tariffs in EU
Thursday, February 10, 2011
Romania has the lowest environment taxes and the lowest fuel tariffs in the European Union, but it cannot be outdone in poor tax collection, reveals a survey on the analysis of the environment taxes made public by the Ecopolis Centre for Sustainable Policies on Tuesday.The research shows that the extremely poor environment tax collection is one of the explanations why Romania fails to efficiently promote its goals related to the environmental protection and sustainable ...
Romania Ranks 7th In EU By Installed Wind Farm Capacity In 2010
Thursday, February 3, 2011
Romania posted the seventh growth in installed wind power capacity among the European Union member states in 2010, namely a 448-megawatt increase to a total of 462 MW, according to a report of the European wind energy association EWEA.Only 1.6% of Romania's electricity comes from wind farms, much lower compared with Denmark, whose wind power capacity provides 24% of the total energy production. About 14% of electricity in Spain and Portugal comes from wind farms, while around 10% of ...
Standard & Poor's keeps Transgaz rating unchanged
Thursday, February 3, 2011
Standard & Poor's Ratings Services maintained the corporate credit ratings of Romania's National Gas Transmission Company Transgaz at BB+ with stable outlook for foreign currency, and at BBB- with stable outlook for local currency, respectively, informs a company press release published on the website of the Bucharest Stock Exchange (BVB). Following the recently carried out assessment process, financial assessment agency Standard & Poor's published on Wednesday a report on the ...
ADX Energy signs agreement with NAMR for Romanian exploration block
Thursday, February 3, 2011
ADX Energy Ltd, an Australian-based oil and gas exploration company, has signed the concession agreement with Agentia Nationala Pentru Resurse Minerale, or NAMR, for the exploration block EX-10 PARTA in Romania. ADX and its Area of Mutual Interest ("AMI") partners (ASX listed Caspian Oil & Gas Limited (20%) and Sibinga Petroleum Limited (20%)) participated in the 10th bidding round in 2010 and submitted bids for blocks in the Romanian Pannonian Basin. ADX is the operator and holds a 60% ...
Natural gas demand put at 18.21 million MWh in Feb.
Thursday, February 3, 2011
The total demand for natural gas in Feb. is put at 18.21 million MWh (megawatt hour), according to the report drawn up by the state-owned company Transgaz (the National Gas Transmission Company) and sent to the Romanian Energy Regulatory Authority (ANRE).This gas amount should be provided from the domestic production to the extent of 58.50 percent and of 41.50 percent from the imports respectively. The demand on the captive market is estimated at 8.037 million MWh, out of which ...
Romania must close down 12 improper rubbish dumps byJuly 16
Thursday, February 3, 2011
Romania must close down 12 improper rubbish dumps by July 16, 2011, out of which seven had the closing deadline on July 16, 2010, commissioner general of the National Environment Guard (GNM) Silvian Ionescu told a press conference on Tuesday.He added that the overdue payments that Romania had to pay for improper rubbish dumps were 'reassuring' and he gave the negative example of Italy, which was currently paying penalties for not observing the deadlines set by the European ...
IMF talks focus on monitored companies, energy system's reorganization, gas and energy tariffs liberalization
Thursday, February 3, 2011
The situation of the companies under the authority of the Ministry of Economy, Trade and Business Environment (MECMA) and subject to International Monetary Fund (IMF) monitoring, the reorganization of the energy system by the establishment of national companies Electra and Hidroenergetica, the restructuring of the mining industry, the privatization and investment-attracting program, the regulated tariffs for natural gas and electricity and the liberalization of the energy market were the ...
Romanian Govt Cannot Decide Gas Prices
Thursday, February 3, 2011
Romania’ government does not have the competence to set up prices for natural gas, given that the energy regulatory authority ANRE is an independent institution, but it can only interfere in abuse cases by indirect check-ups, Prime Minister Emil Boc said Wednesday.The government is in negotiations with the International Monetary Fund, but does not have the competence to establish gas tariffs for the local producers. On Tuesday, IMF asked Romania to renounce to the regulated price ...
Romania Transelectrica Sees Power Consumption Rising 2% In 2011
Thursday, January 27, 2011
Romanian power consumption is likely to grow by around 2% to 54.8 TWh in 2011, aided by increase demand in industry, the head of state-run power grid operator Transelectrica (TEL.RO) told MEDIAFAX. "Electricity consumption is estimated to reach 54.8 TWh in 2011, from 53.8 TWh a year earlier, boosted by growths in industry and services," Stelian Gal said. Earlier January, Transelectrica officials said Romanian power consumption increased by 4.7% in 2010, after a decline of 8.2% in 2009. ...
Natural gas consumption amounts to 127.57 million MWh in first 11 months of 2010
Thursday, January 27, 2011
The natural gas consumption in Romania in the first 11 months of 2010 amounted to 127.57 million MWh, increasing 5.74 percent from the similar period of the previous year, when it accounted for 120.642 million MWh, according to the data centralized by the National Regulatory Authority in the Field of Energy.The domestic production of natural gas in November 2010, which went to consumption, represented 83.37 percent of all sources. The top two producers (Romgaz and Petrom) covered ...