03.29.2012

Romanian Minister for European Affairs Leonard Orban said Thursday there are plenty of initiatives and opportunities in the Black Sea region, “but the presence of the European Union is not very more

03.21.2012

Hotel owners on the Romanian Black Sea coast don’t want foreign tourists as they ask for 30% to 50% lower tariffs, better services and employees that speak many languages. more

03.05.2012

Romanian president Traian Basescu on Monday said that gas drilling in the Black Sea should start in 2015-2017, which is when Romania will gain energy independence. more

02.29.2012

Romanian leading oil company OMV Petrom (SNP.RO) Wednesday said its latest hydrocarbon discovery in the Black Sea could reduce or altogether eliminate the country’s dependence on gas imports. more

02.22.2012

Romanian dominant oil company OMV Petrom (SNP.RO) and ExxonMobil Exploration and Production Romania Wednesday reported a significant gas discovery at their joint Domino-1 deepwater well in the Black more

02.03.2012

Romanian dominant oil company OMV Petrom (SNP.RO) and ExxonMobil Exploration and Production Romania have found natural gas in a test drilling at the Domino-1 deepwater well in a joint Black Sea field, more

01.09.2012

Romanian dominant oil company OMV Petrom (SNP.RO) and ExxonMobil Exploration and Production Romania, the local unit of US giant ExxonMobil, have started drilling to extract oil from a joint field in more

01.04.2012

Romania's Transport Ministry wants to repair a 8.5 km section of national road DN39 in Constanta County, through an investment worth 55.8 million lei (EUR13 million), including VAT. more

11.28.2011

Romanian electronics and home appliances retailers sold more than EUR15 million worth of TV sets, cameras and laptops on Romania’s first Black Friday. more

11.18.2011

Romania’s mineral resources administrator ANRM approved the transfer of a 35% stake in two Black Sea oil blocks from Sterling Resources to two firms partnered with the Canadian company. more

11.04.2011

The Black Sea depths are becoming the busiest battleground for the world’s oil giants, which have so far announced plans to spend $2.5 billion to explore this unknown area. Early next year, Romania more

10.28.2011

ExxonMobil hopes that along with Petrom, Romania’s largest company, it will join the exclusive club of prospectors of the sea depths, through their operations in the Neptun block in the Black Sea. more

10.27.2011

Canadian Sterling Resources plans to invest between $500 million and $1 billion in hydrocarbon exploration at Romania’s Black Sea platform over the coming period, the Economy Ministry said Thursday. more

10.24.2011

British energy company Melrose Resources plans to invest around $130 million in deepwater exploration at Romania’s Black Sea platform, after it has secured approval for the project, the UK more

10.20.2011

Russian oil giant Lukoil will invest around $400 million in hydrocarbon prospecting at the Romanian Black Sea platform, with another $1.5 billion available for further works if discoveries are made, more

10.20.2011

Romanian dominant oil company OMV Petrom (SNP.RO) and US giant Exxon Mobil are scheduled to start drilling in the Black Sea this winter, while the first data on possible oil and gas discoveries will more

10.13.2011

The success rate for deep hydrocarbon exploration is 10%-20%; the rest is risk in the billions of euros. This year, two international giants and Romania's largest oil and gas producer OMV Petrom more

10.12.2011

Romania’s government will allow the companies drilling and prospecting underwater on the continental plateau to work without a construction authorization, in a decision that’s relevant for more

10.06.2011

The depths of the Black Sea lure another major oil company after Petrom and ExxonMobil, as Russian-held giant Lukoil announces it is ready to invest up to $300 million in exploration. The Black Sea more

08.24.2011

Romania ranks second in terms of wheat production increase in 2011 among countries bordering the Black Sea. more

08.06.2011

The hotel room occupancy rate on the Romanian Black Sea coast has increased to almost 100% at the end of the week, association for tourism development Litoral - Delta Dunarii said in a press release more

07.22.2011

Romania's dominant oil and gas company Petrom and US giant ExxonMobil, the world’s largest oil company, are taking up the costliest bet ever made on Romania’s underground reserves: seeking more

06.23.2011

Canadian Sterling Resources needs to invest some $500 million in its Midia and Pelican blocks in the Romanian shelf of the Black Sea, and the money can be obtained without any problems, Sterling more

04.28.2011

Canadian oil and gas company Sterling Resources on Thursday said it cannot operate in its Black Sea perimeters at the present time, since local authorities are unable or unwilling to issue the more