02.18.2016

Romania’s largest company OMV Petrom (SNP.RO) will reduce its crude oil output by 4% in 2016, after having extracted 65.19 million barrels of oil last year, 1% lower than in 2014, Gabriel Selischi, more

02.18.2016

Romania's largest company OMV Petrom (SNP.RO) will keep the Arpechim refinery closed, but it will use its reservoirs to store crude oil, and, on lack of buying interest, it will probably disband the more

02.12.2016

The Petrotel Lukoil refinery has concluded a contract of RON40 million with Romanian oil storage and shipment firm Oil Terminal (OIL.RO), which targets crude oil transportation this year, Oil Terminal more

02.12.2016

Romania's mineral resources agency ANRM has increased by 1.4% the tariff of the local crude oil transportation service, but the decision was contested by the Romanian Association of Petroleum more

01.27.2016

The oil price dropped to less than $30 last week, something that did not happen even when Lehman Brothers collapsed in the fall of 2008. more

11.19.2015

Oil industry equipment and service providers have lost 30% of their market value this year, the worst decline since the 2008-2009 crisis, due to dwindling revenue caused by lower investment from their more

11.12.2015

Cigarettes, mineral water, soft drinks and sandwiches are among the best-selling non-oil products available in gas stations with hundreds of suppliers vying for contracts with the main gas station more

10.05.2015

Mining royalties will increase but offshore oil royalties could decrease because such activities require large investments, Energy Minister Andrei Gerea stated Monday. more

10.02.2015

French-held Total group will not expand its Romanian operations beyond the lubricant business, and has no intention of following in the footsteps of the other major oil companies to try to find oil more

09.15.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) aims to pay the Economy Ministry, the company’s major stockholder, 150 million lei worth of shares in exchange of two lands which will be more

09.01.2015

The olive oil market will reach more than 200 million lei (EUR45 million) this year, an increase of 20% on 2014 and 33% in 2013. This segment is the fastest growing on the oil and fats market. more

08.28.2015

Grup Servicii Petroliere (GSP), the flagship company of the Upetrom group of Constanta businessman Gabriel Comanescu, returned to profit in 2014 from 163 million lei (EUR37 million) loss in 2013. more

08.24.2015

Vegetable oil brand Untdelemn de la Bunica, sold by local entrepreneurs to trader Cargill in 2004 and then bought by France’s Expur in 2013, accounts for 7% of the local vegetable oil market, more

08.19.2015

Shipbuilder Damen Shipyards Galati, part of the Dutch Damen group, posted 288 million lei (EUR65 million) revenue in the first half, 2.2 times higher than in the year-earlier period. more

08.05.2015

Grup Servicii Petroliere (GSP), the offshore drilling company of Constanta businessman Gabriel Comanescu, expects revenue to drop by more than 20% this year mainly because of the abrupt decline in oil more

07.02.2015

KMG International, the former Rompetrol group, is the largest exporter to Greece in Romania. The oil group, which owns the Petromidia Refinery on the Black Sea coast, shipped more than $200 million more

06.26.2015

Crude oil price, which halved in the last year, could stay at $65-70 per barrel next year as well, but hydrocarbon price will increase 3-4-fold in the next ten years, according to the estimations of more

06.25.2015

Major US suppliers of oil and natural gas industry equipment and services made more than $850 million revenue in Romania last year. More than 2,000 people, most of them in Ploiesti, work on pumping more

06.22.2015

Australian oil and gas company ADX Energy got a 30-month extension of the exploration period for the EX-10 PARTA permit in Timis county, western Romania, from the national agency for mineral resources more

06.18.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) aims to boost gas and diesel oil trades to Constanta seaport to offset the drop in crude oil imports for European refineries, which are more

06.18.2015

Regional investment fund SIF Oltenia (SIF5.RO) plans to sell its 85% stake in vegetable oil producer Argus Constanta (UARG.RO) to a strategic investor in the same industry. more

06.16.2015

Romgaz (SNG.RO) might expand into oil drilling, after spending more than a hundred years drilling for natural gas only, if the first exploration wells confirm the estimates about the oil deposits in more

06.13.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) forecasts 15% higher revenues in 2015, at RON125 million, as it expects the low oil prices to boost trades of crude oil and gas through more

06.01.2015

OMV Petrom, the only oil and natural gas producer in Romania, says it is preparing the data rooms for the 30 onshore fields it announced at the end of last year it wanted to give up. This phase means more

05.15.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) reported a net profit of RON6.5 million in January-March, 13-fold higher compared to the same period a year earlier, the company said more