Romgaz and ExxonMobil announced on Tuesday that they extend the exclusivity period from October 15, 2021 to November 15, 2021 for negotiations on the purchase of all shares issued by ExxonMobil Exploration and Production Romania Ltd., that holds 50% of rights received and obligations assumed through the Concession Accord for oil exploration, development and exploitation in the Deep Water XIX Neptune perimeter. Romanian gas producer Romgaz announced in June that it had concluded an exclusivity accord with ExxonMobil exploration and Production Romania Holdings Ltd. until October 15, 2021 about purchase negotiations for all shares issued, that is 100% of the social capital of ExxonMobil Exploration and Production Romania Ltd, which holds 50% of rights and assumed obligations though the concession accord for oil exploration, development and exploitation in the Deep Water XIX Neptune Zone perimeter. “With a view to completing negotiations about the purchase trabsaction of 100% of WxxonMobil Exploration and Production Romania Ltd shares and obtaining corporate approvals for the transaction, Romgaz and ExxonMobil Exploitation' and Production Romania Holding Ltd decided to extend the exclusivity period from October 15, 2021 to November 15, 2021. All the other clauses of the Accord remain the same. On June 17,2021 the parties signed an Exclusivity Accord through which the selloer granted Romgaz an exclusivity right for 4 months about purchase negotiations of all shares issued by ExxonMobil Exploration and Production Romania Ltd, that holds 50% of rights received and obligations assumed through the Concession Accord for oil exploration, development and exploitation in the area,” Romgaz informed. OMV Petrom, the largest energy company in South-Eastern Europe and Romgaz, announced in April that it would become operator, in case Romgaz completes the take over of participation in the Neptun Deep project and the Romgaz offer is accepted by ExxonMobil. ExxonMobil and OMV Petrom explored the Neptun deep block in the Black Sea where preliminary results indicated reserves of 42-84 billion cubic meters of has (Romania consumes 11 billions per year), but companies delayed the decision of carrying out the extraction stage. The development of the Neptun Deep perimeter may be the first hydrocarbon production in deep waters in Romania. Costs of such a gas production project can reach several billion dollars. (Photo: https://www.omvpetrom.com/)
Ruling on the draft law on the disbursement of privately-managed pensions, namely 2nd and 3rd Pillars, inked by the Financial Supervisory Authority (ASF), promoted by the Romanian government and approved with amendments by the Parliament, the Constitutional Court (CCR) concluded that the capping the single payment granted before the start of the monthly payments to […]
The revised bill that bans the cumulation of the public pension of a special (non-contributive) nature with a wage paid in the budgetary sector, currently available for public debate, will be amended so as to restrict the exceptions provisioned in the original form, labor minister Florin Manole said, according to
The Romanian business community reiterated its firm call to decision-makers to eliminate the minimum turnover tax (IMCA), in view of the discussions on the construction of the state budget for 2026, according to a statement signed by more than 100 employers' federations, business associations, and chambers of commerce in Romania. The Romanian government will address […]
Romanian president Nicusor Dan reiterated in a speech at the 2025 Digital Governance Summit organised by Edge Institute at Cotroceni Palace and published on the Presidency's webpage, thus making it somewhat official, an invitation addressed to the "private community" to draft regulations and sectoral policies that the state is unfortunately unable to design, such as […]
Premier Energy Group (BVB: PE), a leading vertically integrated utility company in Southeastern Europe listed on the Bucharest Stock Exchange, reported its normalized revenue grew 40% y/y to EUR 1.17 billion, while normalized EBITDA rose by 36% y/y to EUR 94 million in the first nine months of 2025. On a reported IFRS basis, revenue […]
Autonom Services, a mobility services company with bonds listed at the Bucharest Exchange, has entered into a credit facility agreement with a total value of EUR 300 million, with an option to subsequently increase the facility by up to EUR 50 million. The financing was attracted from a syndicate of banks that included Banca Transilvania, […]
