Energy

[Le Clerk]

BUCHAREST, July 17 (Xinhua)

Large gas field found in northeast Romania


-- Romanian gas company Romgaz has discovered a gas field with a storage capacity of 200,000 cubic meters in the northeast, the official Rompres news agency reported Thursday.

Romgaz had planned in 2006 to explore gas fields in eight areas throughout Romania, said the company's general manager Francisc Toth.

Seven gas fields had been found, he added.

The state-owned corporation is Romania's largest producer and supplier of natural gas, taking up 41.2 percent of the domestic market.

Romania is one of the few European countries which have natural gas resources.

With annual gas production of 10 billion cubic meters, 60 percent of the country's domestic demands can be fulfilled.

This is a major discovery....the discussion now is whether the gas field to be tapped now or wait for 5-10 years when the real gas crisis (very high prices) will come.

[Le Clerk]

Here's the Romanian news agency post on this, too:

Mediafax
17/07/2008

Romgaz Finds Natural Gas Deposit E Romania

Romania’s Romgaz Medias, one of the country’s largest gas producers, found a new natural gas deposit in Roman, eastern Romania, with a potential output of some 200,000 cubic meters per day, the company said in a statement Thursday.

"This is the result of the intense drilling program started by Romgaz back in 2006, developing on the eight drilling perimeters, which led to discovering the gas deposits in Baia, Mircesti, Davideni, Mecea, Movila, Varvata and Icland," Romgaz’ director general Francisc Toth said.

State-owned Romgaz is the main natural gas producer in Romania and owns the most important gas deposits countrywide.

Romgaz Medias reported a preliminary profit before tax of 834.32 million lei (EUR1=RON3.5705) in 2007, up 15% compared with RON719.85 million a year before.

Romgaz has an output of around 6 billion cubic meters per year, representing nearly 50% of the country's total gas demand.

Romgaz is one of Romania’s major gas producers next to largest vertically integrated oil company Petrom (SNP.RO).

[joce23]

Romania, Serbia, Croatia sign memorandum for Constanta – Trieste oil pipe construction
Nine O`Clock

Romania, represented by SC Oil Terminal SA and SC Conpet SA, signed the memorandum and articles of incorporation of the company which will develop the Pan European Oil Pipeline (PEOP), reads a news release sent to the Bucharest Stock Exchange yesterday, quoted by Rompres. The other shareholders in the inter-state corporation are JP Transnafta Pancevo (Serbia) and Jadranski Naftovod (Croatia). In the first meeting, members of the Board were appointed by each company holding stock in the PEOP Project, while in the next meeting, between August 25 and September 5, the executive manager of the corporation will be appointed.

SC Oil Terminal SA and SC Conpet SA are the only Romanian companies specialising in crude transport and storage, and their involvement in the project would help increase the crude storage and pumping capacity, increase revenues and stock prices, broaden the client portfolio and create new jobs.

Serbia, Croatia and Romania have recently agreed to establish a company for the development of the project regarding the construction of a pipeline to bring crude from the Caspian region to European markets. According to the agreement, signed during a meeting held in Bucharest in April, the company will have 2,100 shares, with a face value of GBP 100 per share. Romania will hold one-third of the equity, through Conpet and Oil Terminal, which will hold stake worth GBP 35,000 each. The Pan European Oil Pipeline (PEOP), scheduled to be operational as of 2012, will connect the Romanian port of Constanta to Italy’s Trieste, and will be 1,300-km long. The estimated costs range between USD 2 and 3.5 bln. The pipeline will deliver crude from the Caspian Sea to refineries in northern Italy and Central Europe.

Originally Posted by joce23

Vosganian: Romania’s national energy holding is close to completion

The project of the energetic "mammoth", finalized
EVZ

Energy. The Authority for the Capitalization of Sate Actives (AVAS) finalized the project of Government Decision according the founding of the integrated energetic company and is submitting it to the public debate.

In the basis of the document, AVAS will takeover from the Ministry of Economy and Finances 361.98 millions shares of Hidroelectrica, with the value of ten lei each. The Electrica capital will be increased with the help of AVAS with entire nominal shares packages owned by the state at Hidroelectrica and at the power plants from Rovinari and Turceni.

[Le Clerk]

I am really curious how will the gov manage this new company....if they do it like in the 90s, we are fucked. If they do the same job they did with BCR, for example, then it's a very good thing. In any case, this company will produce more than 60% of Romania's electricity output ( all hydro which is the biggest energy platform in Romania + most of thermal platform) and also have the high voltage grid in its property. It could have a huge impact on the regional electricity market (as one of the biggest players) and also be financially able to enter in projects like the one envisaged with Turkey: the submarine cable to transport electricity from Romania to Turkey. But let's see whether the government will pass the decision first.

[nebunul]

THIS IS WRONG IMO ... Should be private (efficiency) but ... heavily regulated (resources under state control).
Will wait to see how will be organized

[Le Clerk]

I said ONLY IF it's well managed. I think we should just look at Hungary's MOL (state owned) or better OMV (state owned), EON (partially state owned), Gas de France, Enel etc....all majority or completely state owned. Why shouldn't Romania do the same?

[nebunul]

IF ... I do not believe ... remember ... Petrom ...

Originally Posted by Le Clerk

Petrom was as good as MOL of a target (considering that Petrom had at the time of purchase, gas stations in many SE European countries, but also the oil reserves and very modern refineries). The problem with Petrom however, was that the company was very badly managed (it was a havoc for OMV to restructure PETROM after take-over , but it was worth the whole effort), which was not the case of MOL. Now, after restructuring, oil price increases etc, Petrom is valued as much as OMV, but that's because Petrom has oil reserves which OMV does not have.

Basically we need an "OMV" to run this holding ... but the sate to have veto on critical issues: like take-overS, petrol/electricity price, environment etc ...
BTW Vorbeam cu un francez acu' citeva saptamini si ghici ce-mi zice: politica de dreapta in Franta e ... de stinga in UK (saxon world)
Eu sint liberal 100% ... si super-socialist la capitolul clase sociale defavorizate (pensionari, disabled etc)

[Le Clerk]

So then why not organise a bid for the Mammouth's management?...many state owned companies do that....it's same to what the gov wants to do with Fondul Proprietatea (hire an internationl bank to manage it). Do the same with the Romanian energy giant, give the management company a share in profits (obviously having regard to the necessary investments the company must do) and there you have a good management.

[nebunul]

yeh why not ... anything but state run company

[Le Clerk]

Business Standard
18/07/2008

Compania de proiect a oleoductului Constanta-Trieste a fost inregistrata la Londra


Compania de proiect a oleoductului Constanta-Trieste a fost inregistrata la Londra si reprezentanti ai Ministerului Economiei si Finantelor (MEF) vor merge in septembrie in Italia pentru a afla care este pozitia acestei tari fata de proiect, a declarat vineri pentru NewsIn Viorel Palasca.

“Am inregistrat compania de proiect pentru PEOP Constanta-Trieste, la Londra, in Anglia, in termenul legal de 45 de zile de la semnarea acordului (n.r. la 22 aprilie 2008). In ceea ce priveste pozitia Italiei, guvernul italian nu si-a exprimat inca punctul de vedere. Italienii nu si-au desemnat inca o companie care sa ii reprezinte in proiect. Oricum, la toamna, in septembrie cel mai probabil, vom avea o intalnire cu italienii si vom incerca sa transam problema. Vom avea discutii si vom incerca, impreuna cu ministrul, sa aflam care este pozitia Italiei pentru acest oleoduct. Vom intensifica eforturile pe cale diplomatica cu Italia”, a declarat vineri pentru NewsIn secretarul din cadrul MEF, Viorel Palasca.

Potrivit lui Viorel Palasca, inca nu s-au gasit investitori pentru proiect.

“Trebuie facuta intai o conferinta de investitii, pentru a atrage investitori, si apoi efectiv infiintata o companie de investitii”, a mai spus secretarul de stat din MEF.

Reprezentanti ai Romaniei, Serbiei si Croatiei au semnat la 22 aprilie 2008 acordul pentru infiintarea companiei de proiect a oleoductului Pan European Oil Pipeline (PEOP) Constanta-Trieste, iar cea de-a patra tara, Italia, va lua o decizie in privinta implicarii in proiect abia dupa instalarea noului Guvern.

Din aceasta companie de proiect fac parte: Conpet si Oil Terminal din partea Romaniei, Transnafta (din Serbia) si Janaf (din Republica Croatia).

[Le Clerk]

Autor: Mediafax
Data: 18-07-2008

Romania vrea sa colaboreze cu Gazprom si dupa 2011

Romania vrea sa continue colaborarea cu gigantul rus Gazprom si dupa anul 2011, cand vor expira doua contracte bilaterale privind tranzitul international de gaze, dar are nevoie de clarificarea unor teme, au declarat surse guvernamentale. Sursele citate au precizat ca tranzitul international de gaze rusesti prin Romania catre Bulgaria, Turcia, Grecia si Macedonia are nevoie de unele "clarificari", fara sa ofere detalii suplimentare. Doua conducte, cu o capacitate de tranzit de circa 18 miliarde de metri cubi pe an (nivel similar cu cel al consumului national), asigura fluxul gazelor pe linia Turcia-Grecia-Macedonia, iar o conducta cu o capacitate de opt miliarde metri cubi pe an pe relatia Bulgaria.


Sursa: www.zf.ro/articol_180083

[Le Clerk]

Business Standard
20/07/2008

Hidroelectrica to sign a partnership with Iberdrola and Vardar for wind energy


Spanish Iberdrola, world leader in wind energy, and Vardar Norway, one of the largest regenerative energy producers in Scandinavia, plan to associate with state- owned Hidroelectrica electricity producer for wind energy.
Hidroelectrica is the largest producer of electricity in Romania. The company started to prospect areas with wind energy potential last year. Icemerg, a branch of Transelectrica national electricity transporter, prospected 20 locations for the installation of wind plants.

More and more local and international companies plan to develop wind energy projects in Romania, including Italy’s Enel and Edison, German E.ON, and Gaz de France.

[Le Clerk]

Business Standard
21/07/2008

Petrom ieftineşte carburanţii începând cu această noapte

Din această noapte, Petrom ieftineşte carburanţii. Litrul de benzină comercializată în staţiile companiei va costa cu 8 bani mai puţin. Motorina va fi, şi ea, mai ieftină, cu 6 bani pe litru.

[Le Clerk]

Autor: Ziarul Financiar
Data: 22-07-2008

Romania has cheapest fuels in the region

The increase in petrol and diesel prices on the domestic market since the beginning of the year, driven by oil prices that have broken record after record, is the lowest of all the countries in the region.

Petrol prices in Romania have gone up by some 13% since the beginning of the year, because the product in highest demand in this category is Euro-Super 95 petrol, while the increase in diesel prices amounted to approximately 19%, according to European statistics.

Hungary, for instance, saw petroleum prices rise by 19%, while diesel increased by 24%. Bulgaria saw pump prices advance by 15% for petrol and by 21% for diesel. "A potential reason for this would be that we are witnessing a segmentation of the regional market. Price fluctuations may be different from one region to another and they depend on the supply and demand ratio dictated by the market. Under the circumstances, Romanian and the Central and Western Europe can be analysed as separate markets," say representatives of Hungarian petroleum group MOL.

[Le Clerk]

Business Standard
23/07/2008

Government expects EU signal to surtax Petrom


Romania is awaiting a signal from the European Union (EU) to surtax Petrom oil company for the profit made from increasing oil and fuel prices.

The government will set a European precedent. Petrom officials say the fiscal policy is not part of their area of competence and they cannot comment.

“The Petrom privatization cannot be re-discussed, and to the extent that the company respects the rules of free competition, the government may not intervene without risking an aggression against the mode of operation of the free market,” said Varujan Vosganian, Minister of Economy and Finance. Vosganian added that if other countries apply this measure, Romania will follow.

Government officials say that Petrom will have to accept the surtax, although it will be able to negotiate the amount paid.

[Bytson]

Originally Posted by Le Clerk

Romania has cheapest fuels in the region

Do we have the numbers for the rest of countries in our region in order to make a real comparision ? Why do I have the impression there isn't a significant difference at the fuel price. I am referring at the price per gallon or litre.

[tomis3]

Originally Posted by Bytson

Do we have the numbers for the rest of countries in our region in order to make a real comparision ? Why do I have the impression there isn't a significant difference at the fuel price. I am referring at the price per gallon or litre.

[nebunul]

Romania becomes renewable. REECO accelerates renewable energy and energy efficiency in central, south-east and east Europe.
www.environmental-expert.com


Two new Trade Fairs in Romania.

The REECO (Renewable Energy Exhibition and Conference) Group, with headquarters in Reutlingen, enters with the establishment of the REECO RO Expositii Srl., Bucharest and with a large step in the current Romania Trade Fair and Conference market for renewable energy and energy efficiency they have announced two trade fairs for Romania. By 2012 three new exhibition grounds for trade fairs should be added where up to 25% of the group turnover will be made.

The RENEXPO® concept of an international trade fair with accompanying conferences for all renewable energy and energy efficiency building and restoration, which was developed at the German trade fair exhibition grounds in Augsburg, was successfully realised in the Hungarian capital of Budapest in 2007 and 2008. “We are now also going to implement the trade fair concept into south-east Europe. Further exhibition exhibitions are planned. The next one is already prepared and will be held in Kiev in 2009 confirms REECO Chief Executive Officer Johann-Georg Roehm, on the occasion of the first meeting with the trade fair advisory body in Bucharest.

In Bucharest, Romania’s booming capital city and south-east Europe’s second largest city the leading Romanian trade fair RENEXPO® South-East Europe will take place on the opportune trade fair and conference grounds SALA PALATULUI in the middle of the city from the 19th to the 21st of November, 2008. On the grounds which cover up to 2600m² exhibitors from Romania, Germany, Austria, Hungary and other European countries will be presenting. There will be numerous visitors and conference participators from Romania, the surrounding countries as well as from across Europe.

Already in spring 2009 things progress with the ENREG ENERGIA REGENERABILA® international trade fair for renewable energy and energy efficiency from the 26th to the 29th of March,2009 in Arad. “The city Arad is not only home to the head quarters of our Romania REECO Teams, but also has the third largest Romanian exhibition grounds. Apart from that Arad lies conveniently placed with regards to transport facilities from Romania, Hungary and Serbia in the so called formed tri-region border”, commented the country delegate for Romania Avena Gall-Tamas, on the occasion of the opening of the REECO office in Arad last week.

[Le Clerk]

166 million are allotted to strategic development and environment, 140 million to the building of the new marine terminal in the Black Sea and new storage capabilities, and 23 million for 2 new docks.


Business Standard
24/07/2008

Rompetrol are programate investitii de 340 milioane dolari in Romania, pentru 2008


Grupul Rompetrol are alocate in cursul acestui an, in Romania, fonduri in valoare de 340 milioane dolari, a declarat joi vicepresedintele diviziei Rafinare si Petrochimie, Cosmin Cocean.

"Din cele 340 de milioane, circa 166 milioane dolari sunt alocati Rompetol Rafinare pentru dezvoltare strategica dar si investitii in mediu", a spus Cosmin Cocean.

In cursul acestui an, Rompetrol are programata incheierea lucrarilor la un nou terminal in largul Marii Negre precum si dublarea capacitatilor de stocare pentru care estimeaza investitii de 140 milioane dolari. Totodata, Rafinaria va mai beneficia de doua noi dane a caror costuri se ridica la 23 milioane dolari. "Toate aceste investitii au ca si cauza cresterea capacitatii de procesare la cinci milioane tone de petrol pe an", a mai spus reprezentantul Rompetrol.

Prin investitiile facute, reprezentantii Rompetrol estimeaza o reducere a emisiilor de CO2 (dioxid de carbon) cu 20%. Rompetrol va aloca pana in 2012, aproximativ 84 milioane de dolari pentru protectia mediului pe platforma Petromidia. (NewsIn)

[Le Clerk]

Business Standard
25/07/2008

Petrom recruits Romania’s EU attaché for energy


Petrom oil company continues to recruit for lobby activity development, after hiring Mihai Berinde, former State Secretary of the Ministry of Economy, Petrom has now hired the Romanian EU attaché for energy, Razvan Nicolescu.
Nicolescu has been hired for a recently-established position, Head of Public Corporate Affairs. He will be in charge of Petrom’s relations with the Romanian authorities, and be part of an OMV Group team to handle European business.

Also, Petrom and OMV plan to open an office in Brussels shortly.