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Tag Archives: offshore

Black Sea Oil & Gas announces USD 400m investment in Midia block, expects removal of all new taxes and fees

Black Sea Oil & Gas SRL (“BSOG”) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus International B.V. (“Gas Plus”) are pleased to announce that they have approved the Final Investment Decision (“FID”), to proceed ...

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Romgaz eyes cooperation with SOCAR for the exploitation of Black Sea gas

The representatives of the gas company Romgaz and the Azeri company SOCAR have recently discussed the possibility of cooperation on large projects. Romgaz intends to expand its operations on foreign markets. On the other hand, SOCAR has expressed its interest ...

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OMV Petrom posts RON 1.85bn net profit in nine months

OMV Petrom Group has registered in nine months of 2017 a net profit of RON 1.85 billion, up two times (111%) against the net results in the similar period last year of RON 878 million, according to the financial results ...

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Competition Council chief says renewable energy producers, Black sea gas producers may be exempted from the obligation to trade on the stock market

The Competition Council (CC) is ready to accept the exemption of renewable energy producers and the Black Sea gas producers from the regulation on the obligation to trade on the stock market, Bogdan Chiritoiu, CC President, said on Monday during ...

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Draft bill on royalties – on public debate

The Economy Ministry has submitted the new draft bill on royalties for mineral, oil and hidro-mineral resources on public debate. According to the draft, there will be only one legal framework regulating all royalties, hotnews.ro informs. The royalties on oil, ...

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SRI bought Hexi Pharma disinfectants worth RON 100,000 during 2011-2015, media says

The hospital of the Romanian Intelligence Service (SRI), “Dr. Agrippa Ionescu” Emergency Hospital had 55 contracts worth RON 100,000 clinched with the Hexi Pharma and based on these contracts the hospital purchased disinfectants by public procurement, Hotnews.ro reports quoting the ...

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OMV Petrom Group: Financial results in Q1 impacted by the steep drop on oil prices

The Group’s results were negatively impacted by the decrease in oil prices, partly compensated by efficiency measures implemented across all business segments as well as business integration benefits, a release from the company informs. Total group hydrocarbon production fell by ...

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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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Romania to trade information with EU states about Panama Papers files

Romania has joined the G5 initiative – France, Germany, Spain, Italy and the UK – on exchanging information about companies or other entities’ shareholders relevant for tax administrations and other agencies involved in the Panama Papers files, the Ministry of ...

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Romania’s current natural gas deposits, depleted in 15-20 years, Energy Strategy shows. Crude oil, on the same downward trend

Romania’s current gas stock –101.37 billion cubic metres – will be ended in 15-20 years, given the nowadays output, consumption and replacement rate of 80 percent, according to National Energy Strategy forecasts for 2016 – 2020, posted by Ministry of ...

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