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Oil & Gas

OMV Petrom to invest EUR 70 mln in Black Sea drilling campaign

Oil & Gas September 18, 2017 14:47 0 comments

Austrian oil major OMV Petrom has kicked of a new drilling campaign in the Black Sea, which will require investments of EUR 70 million by mid-2018. Three new drills will target deposits that were already…more »

Petrotel-Lukoil

Lukoil Romania, investigated in tax evasion case

Legal September 15, 2017 16:50 0 comments

The Directorate for Investigating Organized Crime and Terrorism (DIICOT) is investigating the Romanian subsidiary of Russian oil major Lukoil in a case involving allegations of setting up of a criminal group, tax evasion and complicity…more »

EBRD could buy stake in offshore gas project from Black Sea Oil & Gas

Oil & Gas September 15, 2017 16:12 0 comments

The European Bank for Reconstruction and Development (EBRD) negotiates with Black Sea Oil & Gas the acquisition of a stake in a gas project in the Black Sea, said Mihnea Craciun, deputy director of the…more »

fuel market

Fuel excises go up by RON 0.16/litre in Romania

Oil & Gas September 15, 2017 12:39 0 comments

Fuel excises were hiked by RON 0.16/litre for all three categories from this Friday, and from October 1 there will be a second increase. The minister of Finance, Ionut Misa, announced at the end of…more »

Finance Ministry: Excises on fuels to go up in two stages, on September 15 and October 1

Oil & Gas August 31, 2017 14:58 0 comments

Finance Ministry Ionut Misa, announced this Wednesday at the beginning of the Government meeting, that the excises on fuels will be increased in two stages, on September 15 and October 1, by RON 0.6 per…more »

Romgaz records 41 pct spike in profit in H1 on higher sales

Oil & Gas August 11, 2017 13:48 0 comments

Romgaz, the state-owned gas producer, recorded a net profit of RON 868 million in the first semester of this year, up 41 percent compared to the same period of last year due to higher sales…more »

KMG International could expand retail fuel stations network in Romania and Bulgaria

Oil & Gas August 11, 2017 11:41 0 comments

Oil major KMG International, controlled by Chinese CEFC, could expands its retail fuel stations networks in Romania and Bulgaria, once the company’s legal issues will be solved, said Alexey Golovin, senior vice president of KMGI,…more »

OMV Petrom posts a net profit of RON 1.2 bln in H1

Oil & Gas August 10, 2017 12:26 0 comments

The oil company OMV Petrom posted a net profit of RON 1.2 billion in the first semester of the year, which is 199 percent higher than the one from the similar period of 2016, due…more »

Romania’s Transgaz part of consortium looking to buy Greek DESFA

Oil & Gas August 08, 2017 09:23 0 comments

Romanian Transgaz, the natural gas transmission system operator, has submitted a joint letter of intention together with French GRTgaz for the acquisition of a 66 percent stake in Greek DESFA, the operator of the gas…more »

MOL Romania’s fuel retail sales up by 12 pct in H1

Oil & Gas August 04, 2017 13:17 0 comments

MOL Romania’s fuel retail sales continued to grow up by 12 percent in the first half of the year, while the gas sales increased by 1 percent, compared with the first half of 2016. Overall,…more »