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Energy & Environment
Natural gas consumption hits 64.5 mln MWh in first 4 months
Thursday, June 17, 2010
Romania's natural gas consumption stood at 64.547 million MWh in the first four months this year, up 10.2 percent against the same period last year, which totaled 58.548 million MWh, according to the data centralized by the National Energy Regulatory Authority (ANRE).The domestic natural gas production aimed at consumption accounted for 82.31 percent of the total resources this April, with the top 2 producers (Romgaz and Petrom) providing 96.84 percent of this ...
10m-euro investment in photovoltaic panel plant
Thursday, June 10, 2010
Renovation Solar, part of Renovatio group with 50m-euro turnover, registered in Cyprus, has completed a 10m-euro investment in a photovoltaic panel plant in Satu Mare currently employing 17 people. "We've had several reasons to choose this location, with access to the large markets we focus upon in Central Europe, as well as the highly-skilled workforce we've found here as the main factors," stated Andre Fraga, an international development manager of Renovatio group. The group operates ...
First electric power plant on wicker to be built
Thursday, June 10, 2010
The first Romanian plant to produce electricity from energy wicker is to be built in Ghilad village in Timis County (western Romania), with a German private investment, as the energy wicker's calorific values are much higher than the coal's.'In addition to other advantages offered by this new source of renewable energy, we will be able to regenerate the land, too, as the wicker plantations do not harm the land, but on the contrary they fertilise it,' Ghilad mayor Cornel Guran told ...
American investors: Regulations in energy and environment should continue
Thursday, June 10, 2010
The financial crisis should not determine the delaying or softening of the regulations regarding energy market development, and the regulatory framework should provide incentives and ensure that companies are not forced to reduce their activity, decrease the number of employees or relocate the factories outside the EU.The current financial crisis should not determine the delaying or softening of the regulations regarding energy market development, emissions reduction and increased ...
Rompetrol plans investments worth 240M USD, in 2010
Thursday, June 10, 2010
Rompetrol Group expects investments worth 240 million USD, in 2010. As much as 170 million USD is planned to go on the investment programme in the Petromidia Refinery (Romanian Black Sea coast), Company's release informs.KazMunaiGaz's support to Rompetrol totaled 1.8 billion USD, over 2008-2009, namely 1.1 billion dollars to supply the working capital and to disburse several banking loans. Rompetrol Group's total investments amounted to 1.25 billion USD, over 2002-2009, ...
Aurelian Oil & Gas discovers gas deposit at Climauti
Thursday, June 10, 2010
The oil and gas company Aurelian Oil & Gas PLC, with activities focused on Romania, Poland and Bulgaria, discovered a new gas deposit at the Climauti 1 well in the Suceava Block (north-eastern Romania), informs a press release.The company estimates that the reservoir should yield around 2 billion cubic feet of natural gas, which would increase the Company's production by approximately 18 percent over the next seven years, the reservoir's life span.'We are pleased that our ...
Turkey brokers key gas supply deals for Nabucco
Thursday, June 10, 2010
Azerbaijan and Turkey Monday (7 June) signed a deal to ship 11 billion cubic metres of Azeri gas per year to Turkey. Shipments would start in 2017 and some of the gas may be pumped into the EU's planned Nabucco pipeline. Meanwhile, Northern Iraq declared in Turkey that it stands ready to provide gas supplies "to make Nabucco work".The agreement was signed in Istanbul by Azerbaijan's minister of industry and energy, Natig Aliyev, and Turkey's minister of energy and natural resources, Taner ...
Wind Farms Seen Having No Impact On Romania Power Prices In ’10
Thursday, June 10, 2010
The start of several wind farms in Romania will not trigger an increase of electricity prices in 2010, according to Transelectrica's (TEL.RO) planning director Dan Preotescu."My personal opinion is that wind farms with capacities of 200-400 MW will be built this year, but this will not have an impact on the final prices," Preotescu told an energy forum Wednesday. He added the price might increase in two or three years, provided 1,500-2,000 MW wind turbines will be operational.Due ...
New Hidroenergetica company might issue bonds worth some millions euros in spring 2011
Thursday, June 3, 2010
The new Hidroenergetica energy corporation might issue bonds worth some millions of euros in the spring of 2011, Hidreoelectrica Director General Mihai David told an energy conference in Bucharest. David, who will take over the management of Hidroenergetica, said that there is a strategy for these bonds that will be unveiled soon and which the Government will present in an as attractive manner as possible for the investors.The company should become a player on the financial ...
Economy Ministry state secretary: Even if the IMF disagrees, we must find solutions to carry on coal subventions
Thursday, June 3, 2010
The Romanian Economy Ministry intends to seek solutions so that it will not have to give up the subventions for the pit production, even if the International Monetary Fund disagrees. "We will have to look for solutions to keep the subventions coming even if the IMF said that this is no longer possible starting with the new year", Economy Ministry Tudor Serban declared during the Mediafax Talks About Energy seminar. In the intention letter addressed to the IMF, the Government pledges to ...
Economy minister: State to sell at stock exchange part of Petrom shares to participate in OMV enlargement capital
Thursday, June 3, 2010
The Romanian state will take to the stock exchange part of the shares owned in Petrom in order to participate at the capital enlargement desired by OMV and to bring funds to budget, Economy minister Adriean Videanu announced on Thursday, May 27, quoted by Romanian news agency Agerpres. "At the moment, we are in the phase of elaborating the normative act which will stabilise the procedure [selling actions, n.b.]. I will be very transparent. OMV will make a capital enlargement in ...
OPCOM to launch carbon emission trading platform
Thursday, June 3, 2010
Romanian Power Market Operator the trading platform for greenhouse gas emission certificates (ECTP) on June 1.“Regulation or organization and operation of the greenhouse has Emissions Certificates Trading Platform, approved by the Economy, Trade and Business Environment Ministry order creates the framework of auction sessions, both public-auction like and through web-trade platform for ongoing trading, for each offer proposed by participants registered to the ECTP to buy or sell ...
Natural gas consumption totals around 54 million MWh in Q1
Thursday, June 3, 2010
The natural gas consumption level in Romania totalled in the first quarter of this year, 53.912 million megawatt hour (MWh), higher by 7.42 percent than the level registered in the same period last year, which amounted to 50.188 million MWh, according to data gathered by the National Energy Regulatory Authority.The domestic natural gas production aimed at consumption, in March 2010, represented 77.53 percent of total sources, with the top two producers (Romgaz and Petrom) covering 97.83 ...
Romanian households pay lowest prices for natural gas, in H2, 2009
Thursday, June 3, 2010
Romania ranks the first among the EU countries, in terms of the lowest price the household consumers were paying for the natural gas, in the second half of the last year, read data presented by the Eurostat European Statistical Office.The price for the natural gas provided to the household consumers dropped by 16 percent while the electricity's price went down by 1.5 percent, in the EU countries, between the second half of 2008 and the second half of 2009. Romania registered the ...
Cernavoda power plant delivered over 4 million MWh within national grid in first five months
Thursday, June 3, 2010
The two units of the nuclear-electric power plant (CNE) in Cernavoda (south-eastern Romania) produced 4.542 MWh of electric power in the first five months this year, of which over 4.183 million MWh were delivered to the national grid, according to the data published on Nuclearelectrica's website.Unit 1 produced 2.072 million MWh and delivered 1.905 million MWh, registering a 81.76 percent average capacity coefficient, and Unit 2 produced 2.47 million MWh and delivered 2.278 million ...
Petrom pumps €800 million in Exploration & Production
Thursday, June 3, 2010
Oil and gas company OMV Petrom, held by Austrian-based OMV, said it would invest around €800 million in its Exploration & Production business line, Head of Design and Engineering at Petrom, Gabriel Selischi said at a natural gas forum.“In 2009, OMV Petrom invested around one billion euro of which 60% went to Exploration and Production line. In 2010 and 2011, we plan on boosting investments in E&P. For us, tapping mature fields, as well as the reduction of pressure in deposits are ...
Petrom starts gas supply as part of Hurezani project
Thursday, June 3, 2010
Oil and gas company OMV Petrom, held by Austrian OMV group has started natural gas supply under gas debottlenecking project in Hurezani, after total investments of €135 million, project which aims at optimizing gas delivery from the gas fields in the south-west region of the country.“The first gas delivery in the system took place on May 29 and will be followed by a period of around 100 hours of testing and adjustments Continuous delivery in the national network is estimated to start in the ...
Shareholders of EnergoNuclear talk new equity sharing arrangement
Thursday, June 3, 2010
Shareholders of EnergoNuclear, the company formally established to undertake the construction, commissioning and operation of the two nuclear power plan units 3 and 4 at Cernavoda, began a round of talks on the modification of each of the party stake in the company, and the extension of the pre-project phase that should be completed in September, said Adrian Borotea.“We are holding a round of talks on the ownership structure of the company, but there is no document in this regard. ...
Croatia could be left out of the PEOP Constanta-Trieste oil link project
Thursday, June 3, 2010
Croatia could be left out of the Pan European Oil Pipeline Constanta-Trieste project, unless it pays its £70,000 share within 30 days after receipt of notification letter from the other shareholders.“Each shareholder of the project has paid its share in the project, except Croatia. Every country has to pay £70,000, a financial obligation that Romania has already met (through Oil Terminal Constanta and Conpet) as well as Serbia (through Transnafta). According to the agreement, if one of the ...
X-Trade Brokers: There is no solid justification for fuel price increase
Thursday, May 27, 2010
As the majority of currencies across the globe are getting crushed against the greenback, on mounting pressures from the debt crisis, there is no solid justification for fuel price increase, given the steep fall in oil prices, X-Trade Brokers analysts said.“Oil prices have been subdued lately, on concerns that Greek woes could hurt the European currency and put a crimp on global recovery. Although the U.S. dollar – the currency for oil reference price – grew markedly against the leu, it ...