09.16.2014

Fondul Proprietatea (FP.RO) has chosen US’ Goldman Sachs and Austria’s Erste Bank to help it find buyers for a significant OMV Petrom (SNP.RO) stake, market sources say. more

09.16.2014

Omniasig, the third largest insurer in Romania, and the local subsidiary of Germany's Signal Iduna will issue an employee benefits-type health insurance policy for the almost 20,000 employees of the more

09.16.2014

OMV Petrom (SNP.RO), the largest local oil company, can produce about 47% of the fuel Romania needs, following completion of the EUR600 million upgrade at its Petrobrazi refinery (Ploiesti). This is more

09.04.2014

Romanian leading oil company OMV Petrom (SNP.RO) says that certain filling stations that do not meet the company’s standards in terms of sales volumes are likely to be sold, and, according to market more

08.13.2014

Black Sea gas could reach other countries, as well, OMV Petrom (SNP.RO) chief executive officer Mariana Gheorghe says. more

08.12.2014

Romania’s natural gas consumption fell 5% on the year in the January-June period, while domestic demand for electricity was down 2%, according to estimates from the country’s largest oil and gas more

08.12.2014

Austrian oil group OMV (OMV.VI) Tuesday said its Romanian arm OMV Petrom (SNP.RO) contributed EUR588 million to the group’s clean CCS earnings before interest and tax in the first half of 2014, down more

08.12.2014

Romania’s biggest oil group OMV Petrom (SNP.RO) has paid some 370 million lei (EUR83.3 million) in additional taxes to the state budget in the first half of 2014, of which RON162 million on a more

08.12.2014

Romanian leading oil company OMV Petrom (SNP.RO) Tuesday said its net profit fell 42% to 1.387 billion lei (EUR312 million) in the first half, hurt by lower demand for oil and gas and falling power more

07.30.2014

OMV Petrom (SNP.RO), the only local oil and gas producer, will step up exploration efforts to discover new oil and gas reserves. To that end it has completed a EUR0.5 million investment in a 3D more

07.25.2014

Romania’s leading oil and gas company OMV Petrom (SNP.RO) yesterday sold natural gas worth 15.3 million lei (EUR3.5 million) on the Romanian Commodities Exchange, the market operator said in a more

07.24.2014

Romanian leading oil and gas company OMV Petrom (SNP.RO), part of Austria's OMV, Thursday announced the completion of the modernization process of Petrobrazi refinery, following investments of EUR600 more

07.23.2014

Romanian leading oil and gas company OMV Petrom (SNP.RO) reported a 2.3% decline in natural gas and power sales volumes to 11.24 Terawatts per hour (TWh) in the second quarter of 2014, Austria’s OMV more

07.23.2014

Austria’s OMV, which controls Romania’s leading oil and gas company Petrom (SNP.RO), invested EUR41 million to start activities at the OMV Petrom Global Solutions service center of Romania. more

07.21.2014

ExxonMobil Exploration and Production Romania, part of U.S. oil group ExxonMobil, and OMV Petrom, part of Austria's OMV, start deep-water drilling at the Domino-2 well in the Neptun Black Sea block, more

07.16.2014

Romania’s largest oil and gas company OMV Petrom (SNP.RO) Wednesday said the Marina 1 exploration well identified a new oil reservoir on the continental shelf of the Black Sea. more

06.30.2014

Romania’s leading oil and gas company OMV Petrom (SNP.RO) started the implementation of a new business system in its gas stations network, aiming to diversify its range of products and services such more

06.05.2014

The Black Sea depths have ‘swallowed’ more than $1.3 billion since the beginning of exploration works carried out by ExxonMobil in partnership with Romania’s largest company OMV Petrom (SNP.RO) more

06.04.2014

Romania’s natural gas transmission system operator Transgaz Medias (TGN.RO) must upgrade its pipeline network to be able to carry the gas extracted from the Black Sea blocks, OMV Petrom chief more

05.30.2014

Romanian dominant oil company OMV Petrom (SNP.RO), US-based oil giant ExxonMobil and state-run natural gas pipeline operator Transgaz Medias (TGN.RO) signed last week an agreement according to which more

05.27.2014

The European Bank for Reconstruction and Development is considering a syndicated loan of up to $200 million to Kazakh Kom Munai LLP, a subsidiary of Romania’s leading oil and gas company OMV Petrom more

05.21.2014

Romania’s leading oil company OMV Petrom (SNP.RO) plans to award drilling contracts worth between EUR13 million and EUR205.5 million at an auction scheduled for July 15. more

05.13.2014

OMV Petrom (SNP.RO), Romania’s largest corporation, expects its power business to generate a loss in 2014, while the demand for natural gas will further decrease, the company said in its more

05.13.2014

Romania’s largest oil and gas company OMV Petrom (SNP.RO) Tuesday said its first-quarter net profit fell 19% on the year to 1.07 billion lei (EUR241.5 million), due to higher fiscal burdens and more

05.13.2014

Automobile Dacia posted 18.4 billion lei (EUR4.15 billion) revenue in 2013, an increase of 45% on 2012 and the best result ever for the automaker in Mioveni, southern Romania, which saw a record more