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Tag Archives: exploration

Romania wins lawsuit against Chevron, which should pay damages of USD 73m. Ruling not final

Romania has won the lawsuit against Chevron, and the US giant should pay damages of USD 73 million to the National Agency for Mineral Resources (ANRM) following the annulment of three oil concession agreements without complying with the financial obligations ...

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KMG-China Energy Company Limited transaction, approved by Romanian authorities

The transaction between NC KazMunayGas (KMG) and China Energy Company Limited (CEFC) has received the approval of Romanian authorities, KazMunayGas International has informed on Thursday in a press release. According to the source, the KMG and CEFC shares in the ...

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Convergence Programme 2016-2019: Oil industry – tax on extra profits from exploitation

The government envisages for 2017 a new system of taxation in the oil sector, applicable to all holders of petroleum agreements by distinct taxation of onshore and offshore segments, for exploration and production, the National Convergence Programme 2016-2019 reads, according ...

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Petrom profit down by almost 70 pc in Q1. Sales fell by 19 pc

Petrom, the only producer of oil and gas in Romania, has reported first-quarter net profit of RON 345 million, down by 68% as compared to the same period last year, while the company’s turnover reached RON 4.2 billion, by 19% ...

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10 most charming tourist attractions in South Africa

If it is a single word to widely depict South Africa at a glance that is diversity. Stretching from the hippos in the Limpopo River to the penguins waddling on the Cape (which thrives thanks to the cold Antarctic currents ...

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PGNiG eyes gas deposits in Romania to raise its yield

State-controlled oil and gas Polish group PGNiG plans to make use of lower oil and gas prices to raise its output by buying deposits in Europe, especially in Romania and Croatia, PGNiG’s Zbigniew Skrzypkiewicz, responsible for exploration and excavation, told ...

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Strategy: Investments of EUR 100 bn in Romanian energy sector during 2015-2035

The required investments in Romanian energy sector for 2015-2035 period are estimated at about EUR 100 billion, according to the National Energy Strategy (SEN) launched Friday evening for public debate by the Department for Energy. “To attract new investment in ...

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Lower sales and property tax lead OMV Petrom’s profit down by 20 pc in Q3

The most profitable Romanian company, oil&gas producer OMV Petrom Thursday reported a 20 percent decrease in third-quarter net profit, mainly due to lower sales and an increase in the property tax, according to a press release. “Our sound financial discipline ...

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ExxonMobil, OMV Petrom explore new prospect on Romania’s Neptun Block offshore

ExxonMobil Exploration, global leader in operating complex offshore projects, and OMV Pertrom, Romania’s biggest oil company, have launched a new drilling campaign in the Romanian section of the Black Sea, the Pelican South-1 exploration well on a new prospect in ...

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