Two new projects approved by the Kazakh-Romanian Energy Investment Fund
The Kazakh-Romanian Energy Investment Fund (FIEKR) has recently approved two new investment projects in total amount of USD 43 million…
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Exploration & production
Romgaz: Prices on the gas market will decline, we prepare for investments
“It is clear that prices on the gas market will continue to decline – we have had a warm winter,…
Romgaz donates 800,000 euros to equip the ATI sections of the emergency hospital in Sibiu
Romgaz announced today in an online press conference that it offered 3.98 million lei in financial support to the Sibiu…
Petrom estimates a net profit decline by 21% in 2020
OMV Petrom estimates for this year a profit of 2.81 billion lei, down 21% on the previous year. The budget…
Oil prices rebound after ‘Black Monday’ shocks, but outlook volatile
Stocks and oil prices have steadied and even bounced back after a “Black Monday” that saw them fall dramatically. Coronavirus…
Exxon plans for new offshore gas in Australia at the beginning of 2021
Exxon looks to push forward with production of offshore gas in Australia, in 2021. The West Barracouta project, located in…
Oil plummets over 20% as OPEC deal failure sparks price war
Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts…
Popescu: OMV will not withdraw from the Black Sea project
Designated Minister of Economy, Virgil Popescu, claims that the issue of withdrawal from the Black Sea was not even approached,…
ANRE draft Order: New obligations for gas supply on centralized markets
ANRE has launched in public debate a draft Order [HERE in Romanian] on the obligation to supply natural gas on…
ANRM is considering splitting Round XI: 22 onshore oil fields could be auctioned before offshore
The National Agency for Mineral Resources (ANRM) is considering the division of the XI round of tenders, so that the…
Project: Gas producers must sell on the stock exchange 30% of annual output
The National Energy Regulatory Authority (ANRE) has launched in public debate a project that provides that gas producers must sell…
OPEC hasn’t run out of ideas – Saudi energy minister
OPEC and its allied oil-producing nations are still working well together and still have options to try to rebalance global…
Nicolescu (Deloitte): Romania could earn USD 20 bln. from Black Sea gas
The state could earn more than USD 20 billion from the Black Sea gas extraction in the next 10-12 years,…
Minister of Energy: The gas market will certainly be liberalized on July 1, otherwise we risk losing European funds
The gas market will certainly be liberalized on July 1, and the electricity market, on December 31, 2020, otherwise we…
Minister of Energy: Romania needs the Black Sea gas to comply with the Green Deal
Romania needs the Black Sea gas resources to reach its ambitious targets for reducing carbon dioxide emissions that it has…
Beacom: Our project is moving forward, but problems with offshore legislation need to be resolved before production begins
Bogdan Tudorache The Black Sea Oil & Gas project goes ahead, albeit with minor delays, but offshore legislation and GEO…
GEO that prevents Exxon from selling its Black Sea shares needs CSAT approval
One of the 25 Emergency Ordinances approved last week concerns the changes brought to the Oil Law. But this has…
Intero Integrity Services acquires environmental and integrity service provider The Sniffers
Intero Integrity Services announced it has acquired The Sniffers, a longstanding service provider to the oil & gas industry and…
Gazprom Neft achieves record production at Achimovsky strata
Gazprom Neft has become the first company in Russia to use a unique technology — hybrid multi-stage fracking — to…
Romgaz reacts to the vote in the Senate: Liberalization will not raise prices after July 1
Largest producer and main supplier of natural gas in Romania, Romgaz states that “it did not identify any real reason…
Industry reports and study cases on the new KELLER AG website
From February 2020, the KELLER website has got a shiny new look: fresh, user-friendly and fully accessible on the go…
OMV Petrom: net profit down by 11% in 2019, although sales increased by 13%; increased dividends
Bogdan Tudorache OMV Petrom’s revenues registered last year advanced by 13%, to about 25.5 billion lei, but the company announced…
OMV Petrom will pay 27 mln. euro to the parent company for participation in the Han Asparuh perimeter in Bulgaria
OMV Petrom will pay OMV Exploration & Production about 27 million euro for the acquisition of the shares held by…