Rompetrol Rafinare, financial results influenced by the volatility in the oil and gas market, in Q1
The first quarter (Q1) of 2020 was marked by sharp declines in the oil and gas market, driven by restrictive…
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OMV Petrom and Romgaz, forced to sell 30% of the domestic production in the centralized markets
OMV Petrom and Romgaz will be obliged to auction for 3 years about 30% of the production in the centralized…
Transgaz profit increased by 5% in Q1
Transgaz’s net profit increased by 5% in the first quarter (Q1) of this year, reaching 201.8 million lei, the reduction…
Rainer Seele sees hope for oil price recovery in second half
Austrian energy group OMV sees hope for a recovery in oil prices in the second half of 2020 helped by…
MOL Group reported an USD 152 mln. net loss in Q1
Today, MOL Group announced its financial results for Q1 2020. Large inventory and foreign exchange losses resulted in MOL reporting…
General maintenance of the Petromidia refinery, finalized with success
Rompetrol Rafinare, a member company of KMG International, has successfully completed the maintenance of the Petromidia refinery and has initiated…
Petromidia: Declining gross margin, but sales kept constant, in 2019
Bogdan Tudorache The refining segment’s financial results in 2019 were negatively affected by unfavorable market conditions, Petromidia’s gross refinery margin…
OMV Petrom estimates a 45% drop in fuel demand in the second quarter
OMV Petrom estimates a 45% drop in fuel demand in the second quarter of this year and a 20% year-round…
Transgaz distributes 52% of net profit as dividends
The company that operates the national natural gas transmission system, Transgaz, will distribute a gross dividend of 15.47 lei/ share.…
OMV does not exclude the possibility of resorting to lay-offs due to the coronavirus crisis
Austrian OMV Group plans to expand its current four billion euro cost reduction program, said CEO Rainer Seele, who added…
ANRE Order: Transgaz would control the connection works to the gas transmission system
A draft order of the National Energy Regulatory Authority (ANRE), about the connections to the gas transportation system, a deal…
MOL Group ensures continuous supply security with optimized operational and financial measures
MOL Group implements measures not only to mitigate the impact of the current situation on the Group, but also to…
Transgaz reports the first incidents related to SARS-CoV-2; almost 1,100 people work on its construction sites in Romania
Three people involved in Transgaz’ investment works have been in isolation since Saturday, April 4, after they contacted members of…
Hungary announces a new gas pipeline
Hungary announces the creation of a new pipeline that will increase the transport capacity from Serbia by 60%, according to…
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…
Transgaz teams continue to work on development projects; over 550 people work at BRUA
So far, all the development projects of Transgaz are carried out normally, announces the operator of the national natural gas…
OMV Petrom is ready to continue supply
OMV Petrom has implemented a series of measures to ensure the smooth running of the activities. Christina Verchere, CEO of…
Oil industry demands special measures from the Government to prevent fuel supply from being affected
The Federation of Oil and Gas Employers has published a message asking the Government for some derogations from the current…
General maintenance of the Petromidia refinery, programmed by Rompetrol Rafinare
Rompetrol Rafinare, a member company of the KMG International Group, will stop between March 13 and April 30, 2020 the…
EU Commission accepts commitments by Transgaz to facilitate natural gas exports from Romania
The European Commission announced it issued the Decision approving the commitments proposed by Transgaz in the AT investigation. 40335, to…
Transgaz and EBRD have signed a MoU on cooperation and investment support
Transgaz and the EBRD (European Bank for Reconstruction and Development) signed a memorandum of understanding on cooperation and support for…
Lower taxes for diesel cost Germany up to 7 bln. euro in 2019
The lower taxation of diesel fuel in Germany cost the country billions of euros in 2019, newspaper Rheinische Post reports.…
Romania is considering access to the Southern Gas Corridor
Romania is considering ensuring its access to the Southern Gas Corridor, reveals a statement from the Ministry of Economy and…