11.28.2012

The biggest of the 9,000 wells that OMV Petrom (SNP.RO) drills in 240 commercial oil and gas fields can be found in the Black Sea, an area that already generates 20% of the company’s hydrocarbon more

11.09.2012

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) Friday said its sales fell 8% on the year to 81.1 million lei (EUR18.3 million) in the first nine months, due to lower demand for petroleum more

11.06.2012

The Managing Board of Romanian oil storage and shipment firm Oil Terminal (OIL.RO) on Tuesday convened a meeting of shareholders to vote on the dismissal of board members Anca Elena Marica and Mara more

11.01.2012

Romanian steam generator and pump manufacturer Vulcan Bucuresti (VULC.RO) will make a bid in a $1 billion auction for the delivery of 1,500 pumping units to Kuwait Oil Company, general manager Adrian more

10.07.2012

Romania’s Government and oil company OMV Petrom (SNP.RO) have recently started talks regarding royalty rates for oil and natural gas, Mariana Gheorghe, CEO of the company, said in an interview more

08.23.2012

Romania’s planned tax on extraordinary revenues in the natural gas and electricity market will be implemented as of January 2013, according to the country’s latest memorandum of economic and more

08.15.2012

Ukraine has selected a consortium formed of ExxonMobil, Shell, Romania’s OMV Petrom (SNP.RO) and Nadra Ukrainy national joint-stock company for hydrocarbon exploration in the Skifska field on the more

08.10.2012

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) Friday said first-half sales slid 6.4% on the year to 52.75 million lei (EUR12 million), due to lower demand for petroleum products. more

08.03.2012

Romania’s mandatory minimum stocks of oil products will be financed in 2012 entirely from the budgets of oil companies, according to a draft government decision. more

07.23.2012

MOL Romania CEO, Kinga Daradics, said it is hard to predict the evolution of the oil market in 2012 amid political uncertainties and problems in the eurozone, after the start of a difficult year which more

07.20.2012

Most companies under the authority of the Romanian Economy Ministry spent money illegally over the past years, Economy Minister Daniel Chitoiu said Friday. more

07.05.2012

Sorin Viorel Ciutureanu, chairman of the board of Romanian oil storage and shipment firm Oil Terminal (OIL.RO), has stepped down less than a month after being appointed and has been replaced with more

07.02.2012

Oil companies saw a new year of growth in 2011, mainly due to significant price hikes despite the fact that the Romanian market continued to be affected by low purchasing power. more

06.11.2012

Andrei Todea, chairman of the board of Romanian oil storage and shipment firm Oil Terminal (OIL.RO), has stepped down and has been replaced in an acting capacity with Sorin Viorel Ciutureanu, the more

06.06.2012

No local oil company has announced plans to cut pump prices, despite the drop of the Brent oil barrel below $100 in the past week, to the January 2011 level, and despite the 24% decline recorded since more

06.05.2012

Almost one year since becoming chief executive of OMV, Gerhard Roiss gives a few clues about the prospects of Romania's largest oil and gas producer, Petrom, as well as its future challenges. more

05.25.2012

Andrei Barbu Todea announced plans to step down from his position of Chairman of the Board at Romanian oil storage and shipment firm Oil Terminal (OIL.RO), the company said in a statement Friday. more

05.23.2012

Petrom, the largest oil company in Romania, is preparing its strategy for the next decade, and the document will be presented this summer, according to the latest available information. more

05.16.2012

Romanian Economy Minister Daniel Chitoiu on Wednesday said the government is drafting up a bill introducing additional taxes on one-time revenue gains of oil companies to be enforced starting with more

05.11.2012

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) Friday said it has switched to a loss of 1.1 million lei (EUR0.25 million) in the first quarter, versus profit a year earlier, hit by low more

05.09.2012

Argus Constanta, a top ten vegetable oil producer in Romania, ended last year with 7.9 million lei (EUR1.8 million) net profit, half the 2010 level. The profit decline came after a 30% increase in the more

04.20.2012

Schlumberger group, the world’s largest provider of services for the oil and gas industry, has chosen Ploiesti (southern Romania) for a world class facility staffed by 170 people and set to become more

04.09.2012

US-based Halliburton group, an about $25 billion business with 70,000 employees, which specializes in providing services and equipment to the oil and gas industry, has chosen Ploiesti (southern more

04.04.2012

Romanian mineral resources regulator ANRM will issue permits for new oil and gas blocks in the Black Sea, after the government approves agreements concluded in 2010. more

03.21.2012

U.S. food conglomerate Bunge is in advanced talks with food products maker Prio Foods to take over the latter’s vegetable oil plant located in Lehliu Gara (southern Romania). more