Business Review

Varujan Vosganian, president of the energy commission within the Romanian senate, said today that Romania needs annual investments of approximately EUR 3 - 4 billion in the energy sector, while the Government can only cover a third of these costs.

Ovidiu Posirca

Oil and gas producer Petrom has contracted a multi-currency revolving credit facility amounting to EUR 930 with a tenor of three years, and a two year extension possibility. This will replace the credit facilities of EUR 875 million that were taken out in 2008 and 2009, with maturity in 2012.

Ovidiu Posirca

Upstream, a division of Rompetrol Group has begun drilling operations for two exploration wells in the Satu Mare perimeter, covering 3000 sqm. Around USD 1.2 million have been spent for geological and geophysics analysis of the perimeter up to now, but the total investment is expected to reach USD 5 million.

Ovidiu Posirca

Romania has taken significant steps into solving the irregularities in the greenhouse gas emissions inventory, and the trading of carbon certificates could be restored in March, 2012, according to Agerpres newswire that quotes Laszlo Borbely, the Romanian minister of Environment and Forestry.

Ovidiu Posirca

The Romanian minister of Environment and Forestry, Laszlo Barely, stated today that the ministry is looking into the possibility of subsidizing individual residential wind installment through a governmental scheme, according to Agerpres newswire.

Ovidiu Posirca

Filasa International, a French company, will invest EUR 780 million in 11 wind-parks that will be developed in Romania, according to Bloomberg, that quotes an e-mail statement from company representatives.

Ovidiu Posirca

The Romanian Competition Council has sent an investigation report on alleged competition breaching that involves several key players on the Romanian fuels market. The investigation started 6 years ago.

Ovidiu Posirca

The Romanian solar panel market will reach 50.000 systems in the next two years, closing down the gap in volume compared to European markets, according to estimates from Ariston Thermo Romania, one of the players on the local solar panel market.

Ovidiu Posirca

The recent legal updates on the renewable energy law no 220/2008 will attract additional investors, according to Ramona Volciuc-Ionescu, senior associate at DLA Piper Romania, a law firm, that presented the recent legal changes on the law promoting clean energy.

Ovidiu Posirca

Enel Romania has replaced all the incandescent light bulbs of Izvoarele locality, Giurgiu County with economic bulbs as part of a CSR initiative that aims at raising the awareness on the rational electricity consumption of households.  

Ovidiu Posirca