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Energy & Environment
Hidroelectrica sells 1.75 million MWh to Arcelor Mittal Galati on power market
Thursday, January 6, 2011
SC Hidroelectrica SA on Wednesday sold, through the Romanian Power Market Operator OPCOM, 1.75 million MWh to the Arcelor Mittal Company of Galati (eastern Romania), at the price of 130 lei per MWh, Hidroelectrica informs in a release sent to Agerpres.'The transaction was done in a transparent manner and the sale price ensures the profit of SC Hidroelectrica SA,' the energy producer says.Hidroelectrica is the largest electricity producer in Romania and it is owned by the ...
Romgaz to operate 30 new derricks
Thursday, January 6, 2011
Romgaz intends to operate this year 30 new derricks by capitalizing on the potential of mature deposits, the company informs in an official release.Moreover, Romgaz will start 60 derricks resulted from research drilling until end-2011.According to the release, in 2011, improved gas quality will be achieved by starting a new drying station and by upgrading and retooling the existing ones. Extending the drilling of mature deposits will be done by upgrading the existing technologic ...
Oltchim sells its Protectchim stake
Thursday, January 6, 2011
Oltchim auctions off a package of 900 equity shares it has at Protectchim, representing 30 percent of the company's share capital, the starting price being 1.7 million lei, according to a release sent to the Bucharest Stock Exchange (1 euro=4.26 lei).The decision was made during the most recent Ordinary General Shareholders Assembly at Oltchim company.The assembly also approved the open outcry auctioning of the asset Building Materials Division Ramplast located in Ramnicu ...
Romania’s Electricity Consumption Up 4.7% In 2010
Thursday, January 6, 2011
Romania’s electricity consumption rose by 4.7% on the year in 2010, and is estimated to increase by at least 1% in 2011, according to state-owned power grid operator Transelectrica’s (TEL.RO)."The 4.7% increase is an estimate based on Transelectrica's data, and not the power producers' figures," the electricity transporter's deputy general manager Octavian Lohan told MEDIAFAX on Monday.After receiving the exact data from energy producers, the increase might be different compared ...
CEZ group sold stake in Cernavoda project to Nuclearelectrica
Thursday, January 6, 2011
Czech group CEZ sold by the end of 2010 its shares in the project to conclude works at the Cernavoda nuclear power plant in Romania, a press release of the group reads. It says the announcement of an intention to sell the 9.15% of shares held by CEZ in Energonuclear SA company was made in late 2010 and that the shares were sold to Nuclearelectrica SA, the majority shareholder in the project to build reactors 3 and 4 of the Cernavoda plant. Contacted by HotNews.ro, CEZ informed the shares ...
AFP: New call to protect Romanian site from gold mine project
Thursday, January 6, 2011
The Romanian Academy on Wednesday urged the ministry of culture to include a former Roman site in its tentative list for UNESCO World Heritage to protect it from a Canadian gold mine project.Two other organisations involved in the conservation of cultural heritage, Pro Patrimonio and the Romanian branch of the International Council of Monuments and Sites (ICOMOS), joined the call.The ministry has to send the list to Unesco this month."The historic mining site of Rosia ...
Negotiations with new companies to construct reactors 3 and 4 at Cernavoda
Thursday, December 23, 2010
The Ministry of Economy, Trade and Busines environment negotiate with some other companies the conclusion of partnerships for project implementation of reactors 3 and 4 at Cernavoda Nuclear Power Station (south-east), after the withdrawal of CEZ Group from this project, announced the Minister of Economy, Ion Ariton, on Thursday, December 16, on the occasion of the presentation of the ministry's budget in the reunited specialized parliamentary committees. 'Discussions are under way ...
Rompetrol Talks State Debt With Romanian Authorities
Thursday, December 23, 2010
Rompetrol is holding talks with Romania’s Finance Ministry for a solution to the group’s historic state debt, since Romanian and Kazakh presidents Traian Basescu and Nursultan Nazarbayev agreed the issue would be solved amiably, the oil company said in a statement. Thus, according to the Rompetrol release, the company is working with the local Finance Ministry to find "mutually acceptable compromise solutions" for the situation. It said that, in the first nine months, Rompetrol ...
Gas consumption, up to 113.736 mln MWh in first ten months
Thursday, December 23, 2010
Natural gas consumption in Romania amounted in the first ten months of the current year to 113.736 MWh, which was higher by 7.5 percent compared to the similar period of last year, when it stood at 105.796 million MWh, according to centralized data of the National Regulatory Authority for Energy (ANRE). Domestic production of natural gas used for consumption accounted for 88.12 percent of the total sources in October. The first two producers (Romgaz and Petrom) covered 97.72 ...
Romania's Hidroelectrica Sees Gross Profit Surging to 110 Mln Euro in 2010
Thursday, December 16, 2010
Romanian state-run hydropower producer Hidroelectrica sees its gross profit surging to 110 million euro ($148 million) this year from some 15 million euro in 2009, local daily Ziarul Financiar reported on Tuesday. "The main challenge next year will be costs cutting. We aim to reduce costs by 10%," Ziarul Financiar (www.zf.ro) quoted Hidroelectrica's head Mihai David as saying. He added that the company has signed a 50 million euro loan agreement with Romania's top bank, BCR, to finance the ...
Romanian, Kazakh Presidents Set Up January Talks For Rompetrol Debt
Thursday, December 16, 2010
Romanian President Traian Basescu said Wednesday a Kazakh delegation will arrive in Bucharest in January to discuss the debt owed by oil company Rompetrol Basescu said he recently discussed the matter with his Kazakh counterpart, proposing that payment be spread over a two- or three-year interval, in fixed installments and on fixed dates, since Rompetrol is understandably facing financial difficulties in the current economic context. Kazakh president Nursultan Nazarbaev said in his ...
British company hit oil at Barchiz, Neamt county in Romania
Thursday, December 16, 2010
British oil company Europa Oil and Gas announced that it hit oil at Bachiz in Neamt county, Proactiveinvestors.co.uk announced. Company representatives declared that they managed to extract oil from this area but a malfunction of an equipment lead to a contaminated a sample. Tests will be resumed shortly after the equipment will be fixed. The natural oil reserve at Barchiz is about 10 km away from Geamana oil camp which according to estimates has 50 million oil reserves. ...
MECMA: Council of Ministers approves postponing mine closure deadline until 2018
Thursday, December 16, 2010
The Council of Ministers approved Romania's, Germany's and Spain's proposal, which allows the member states to grant the workers affected by mine closure the state aid for vocational rehabilitation, the mine closure deadline being postponed until 2018, according to a release of the Ministry of Economy, Trade and the Business Environment (MECMA) of Romania.The state aid is conditioned by the presentation of a plan for the closure of uncompetitive mines, the implementation of the ...
Bulgaria Doubles Electricity Export in 2010
Thursday, December 16, 2010
Bulgaria has marked a record high of sales of electricity abroad in 2010, doubling the amount sold for the previous year.For 2010, Bulgaria will have exported 7500 GWh, while the amount for 2009 was 3700 GWh, announced the National Electric Company (NEK) Saturday.The levels of electricity export for 2011 are previewed to be similar to those for 2010, said NEK president Krasimir Parvanov.He added that Bulgaria has the ambition to become the undisputed leader in the exportation of energy ...
Czech ex-ambassador to take helm at CEZ Bulgaria
Thursday, December 16, 2010
The ex-ambassador of the Czech Republic to Romania, Petr Dokladal, will become head of the Bulgarian division of Czech power utility CEZ, the company said on Tuesday. The appointment will be effective as of January 1, 2011, when his term as ambassador to Romania expires. Dokladal will replace Jan Vavera, who has been managing the company since January 2010. According to unofficial information, Vavera will pursue other career opportunities and will leave CEZ's team. Prior to his new role, ...
Cancún close to funding deal on CO2 storage
Thursday, December 16, 2010
Delegates in Cancún are braced for a final vote to approve the funding of controversial carbon capture and storage (CCS) technology under the UN's Clean Development Mechanism (CDM).The issue of CCS has been on the table since the COP-10 meeting in 2005 but decisions were always postponed.This time, instead of the question being framed in a 'yes' or 'no' format, two options that both enable funding for the experimental technology have been approved by the Kyoto Protocol's scientific ...
EcoMin Ariton: Romgaz's RON 400 million donation to Gov't, lega
Thursday, December 9, 2010
Romgaz has legally donated RON 400 million to the Government, because at a November 30 Romgaz's General Shareholders' Meeting, the Economy Ministry, the principal shareholder with an 85-percent stake, voted for the donation, Minister of Economy, Commerce and Business Milieu Ion Ariton told Agerpres.'The Romgaz's donation to the Government is legal. I do not want to comment on the intention of Franklin Templeton Investment Management Ltd., an investment management company and sole ...
Excise duty on diesel and unleaded petrol could rise by over 3 pct from Jan. 1, 2011
Thursday, December 9, 2010
The excise duty on diesel and unleaded petrol could be increased next year by more than 3 percent, according to the draft emergency ordinance amending and supplementing Law no. 5712003 on Fiscal Code, published on the website of the Ministry of Finance. Thus, the excise duty on unleaded petrol would rise from 452 euros tonne to 467 euros per tonne (plus 3.3 percent), while diesel will increase from 347 euros tonne to 358 euros per tonne (plus 3.17 percent). The excise duty for ...
Petrom inaugurates Hurezani gas delivery system
Thursday, December 9, 2010
Romania’s state Petrom has inaugurated facilities designed to ensure continuity of natural gas supply in the southern part of the country. The €135 million Hurezani delivery point accepted its first gas last May and now handles 4.5 million cu mday. The compression project assures stable gas deliveries from mature fields with low reservoir pressure in southwestern Romania to customers in the country’s southeast. The compressor station at Bulbuceni can boost pressure as high as 40 ...
Electrica SA Launches Eastern European Smart Grid Test Project in Romania
Thursday, December 9, 2010
Electrica SA, with the support of the CURRENT Technologies International, has launched the first Eastern European Smart Grid test project in Brasov, Romania. An area located in the historical center of the city was chosen for the smart grid project because of the obsolete electric distribution network. This perimeter consists of seven transformation points installed in different locations. The smart grid concept, developed internally by Flashnet, incorporates a two-way ...