Romania needs annual investments of EUR 4 billion in the energy sector
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
Petrom takes out EUR 930 mln revolving credit line
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
Rompetrol Group begins drilling works in Satu Mare perimeter
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's right to trade carbon credits could be restored in March, 2012
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
Residential wind installments could be subsidized by Romania
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 to invest EUR 780 mln in Romanian wind farms
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
Oil companies investigated by Romanian Competition Council on possible fuel price fixing
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
Romania will have 50.000 installed solar panel systems by 2014
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
Romania's updated renewable energy law set to power additional investments
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 replaces all light bulbs in Izvoarele locality with economic ones
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
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