03.19.2012

The top ten players on the vegetable oil market can store 1.6 million tons in silos, i.e. over 80% of last year’s sunflower harvest, according to data from the Agriculture Ministry. more

03.12.2012

Two thirds of the some 1,200 employees at Romanian harbor operator Oil Terminal Constanta (OIL.RO) went on general strike Monday morning, claiming pay hikes, according to union leaders. more

03.05.2012

The average price of Brent oil will rise to $123 per barrel this year, compared to $111 per barrel last year, which is good news for oil companies such as OMV Petrom (SNP.RO), an Erste Group Bank more

03.02.2012

Lucian Bode, the man who has been running the Economy Ministry for about three weeks, overseeing the most valuable state-owned companies in Romania, says in his first media interview that one of the more

02.24.2012

Petrom, the largest company in Romania, left the market in awe on Wednesday when it announced EUR887 million in net profit against EUR5.3 billion revenue. With these financial indicators, Petrom has more

02.23.2012

One liter of diesel oil costs 6 lei (almost EUR1.4) at Petrom’s filling stations as of Thursday, a record high level, after the company raised the price by RON0.09 per liter. The gasoline liter is more

02.21.2012

The largest company in Romania is expected to report a net profit ranging between EUR830 to EUR900 million on Wednesday, the largest ever made in the Eastern European country. more

02.14.2012

Management at Romanian state-owned harbor operator Oil Terminal (OIL.RO) decided to reduce working hours to four days per week, coupled with pay cuts, in order to cut costs. more

02.03.2012

Romanian President Traian Basescu has cancelled his visit scheduled for Saturday to ExxonMobil’s oil platform in the Black Sea, due to unfavorable weather conditions. more

01.20.2012

British Europa Oil & Gas on Friday announced it relinquishes the 28.75% stake it owns on the EIII-1 Brodina block in northwestern Romania, in order to focus on other assets. more

01.13.2012

Since the beginning of the year, namely in less than two weeks, gasoline and diesel fuel prices have grown by 3%, with the latest increase operated by OMV Petrom (SNP.RO), the largest company in the more

01.11.2012

The Competition Council on Tuesday delivered the most eagerly awaited verdict of a probe, saying that the major oil companies were guilty of having reached an understanding to withdraw a type of more

01.10.2012

Romanian antitrust regulator Tuesday fined six top players in the oil industry, including OMV Petrom (SNP.RO) and Rompetrol Rafinare (RRC.RO), with a total amount of around 880 million lei (EUR205 more

01.10.2012

Romania’s top oil companies were fined with amounts of up to 3% of their sales reported for 2010 following a probe into the local fuel market, people familiar with the situation told MEDIAFAX more

12.28.2011

Diesel oil prices will rise by 2% following the increase of excise duties on diesel fuels starting 2012, Romanian Finance Minister Gheorghe Ialomitianu said Tuesday evening. more

11.30.2011

Romanian oil group Rompetrol on Wednesday announced it has started drilling operations, for the first time in Romania, following an investment of $8.5 million. more

11.24.2011

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) Thursday dismissed Silviu Ioan Wagner from his position of chairman of the board, the company said in a statement. more

11.24.2011

The edible oil unit of Cargill, the largest grain trader on the local market, posted revenue of EUR34.2 million in the first half, almost 70% more than in the same interval of 2010. more

11.23.2011

Daniel Turnheim is the youngest member of the management of Petrom (SNP.RO). He took over as chief financial officer a year ago. The 36-year old executive’s appointment came at a time when the only more

11.08.2011

Harbor operator Oil Terminal Constanta (OIL.RO) on Tuesday reported a net profit of 1.7 million lei (EUR390,472) for the first nine months of the year, compared to RON3.7 million in the same interval 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

11.02.2011

The government approved a new exploration, development and drilling agreement between local mineral resources manager ANRM and Irish Moesia Oil and Gas, for a block spanning over some 1,000 square 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

10.19.2011

Romanian government Wednesday approved two oil exploration licenses in the Black Sea platform granted by the national agency for mineral resources to a consortium made of oil companies Lukoil Overseas 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