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

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

Romanian leading oil company OMV Petrom (SNP.RO) Wednesday said it has extended until 2012 its oil price hedges to protect its cash flow from the negative impact of potential lower oil prices. 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

10.05.2011

Romania's Government has added five years to the oil drilling rights held by gas company Romgaz on a surface of 16,200 square kilometers and has signed seven exploration agreements with foreign more

09.26.2011

Vegetable oil producer Prio Extractie, a unit of Portuguese group Martifer, got the green light from Agriculture Ministry to store agricultural raw materials in a 150,000-ton silo at its oil plant in more

09.15.2011

Shale gas, maybe the most fashionable fuel of the moment, has been on the agenda of the talks between Romanian and U.S. officials during the recent visit of the Romanian authorities to Washington. more

09.08.2011

Romania’s oil segment will “boom” in 2012-2013, given that 40 new exploration and drilling licenses will be granted by the end of this year, Thursday said Florin Ciocaneala, executive manager of more

09.01.2011

The government will take 1.18 million tons of coal and 134,524 tons of fuel oil form the state reserve, to supply 16 thermal power producers during the winter. more

08.31.2011

Businessman Gabriel Comanescu, owner of the most powerful domestic business in the hydrocarbon drilling industry, took another step in developing Grup Servicii Petroliere (GSP), the jewel of the more

08.30.2011

Dafora Medias (DAFR.RO) announced Tuesday that it has started drilling with the first rig on the Adjud block leased by US Hunt Oil in partnership with OMV Petrom (SNP.RO). more

08.25.2011

The costs of development and production on the Neptun oil block in the Black Sea will range between $3 and $10 billion, if exploration is concluded successfully, Thursday said Ian Fischer, head of the more

08.25.2011

Romanian government Wednesday approved an ordinance to set up the mandatory stocks of crude oil and petroleum products required in order to avoid infringement proceedings from the European Commission. more

08.22.2011

The royalties collected by Romania for gross revenue achieved from oil transport and transit will rise to 15%, from 10%, while the royalties for underground gas storage will rise to 5% from 3%, more

08.12.2011

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) Friday said its net profit fell nearly threefold on year to 0.93 million lei (EUR0.21 million) in the first half, on lower sales. more

07.07.2011

Romania has until December 31 to build its minimum required reserves of crude and oil products for this year, as well as covering last year’s reserve deficit, otherwise the European Commission will more

06.30.2011

Flour, milk, poultry and pork have become over 6% cheaper in June against May, shows ZF’s food index, calculated based on Bucharest hypermarket prices. more

06.23.2011

Expur Urziceni, a major producer of vegetable oil in Romania, part of French group Sofiproteol, last year posted revenue of EUR132 million, up 20% year-on-year, according to the information included more

06.22.2011

Romanians pay 48 eurocents for a bar of soap, while Hungarians pay 21 eurocents and Poles pay 24 cents. A tube of toothpaste costs 1.8 euros in Romania, compared to 1.19 euros in Bulgaria and 1.46 more

06.10.2011

Romanian investment fund Fondul Proprietatea (FP.RO) Thursday sold a 1.55% stake in Oil Terminal Constanta (OIL.RO), for 3.3 million lei (some EUR800,000), capitalizing on a 32% hike in Oil Terminal more

06.10.2011

Brothers Plamen and Atanas Bobokov, owners of Bulgarian group Prista Oil, which specializes in lubricant production, have completed a EUR13 million investment near Bucharest’s beltway, the most more

06.03.2011

France’s Total, US Exxon and Chevron, as well as Russia’s Lukoil are the oil giants that have in the past year set their eyes on Romania, trying to spot potential hydrocarbon reserves both on land more