The sale of a 50% stake in Neptun Deep Black Sea offshore perimeter between the state-controlled company Romgaz (the buyer) and ExxonMobil (the seller) is temporarily blocked due to a controversy related to the fact that the American company holds the operating license through a vehicle registered in the Bahamas and not in Romania, government sources told Economedia. At the moment, the two sides are looking for a solution to speed up the EUR 1 bln deal. Romgaz shareholders had approved the transaction since December 10, 2021, and the market expected the documents to be signed quickly. Romgaz also approved a EUR 325 mln loan to cover part of the acquisition amount. The Romanian Government is waiting for the conclusion of the Romgaz-ExxonMobil transaction to send the draft Offshore Law to the Parliament. This law is key because it will unblock OMV Petrom’s final investment decision in this project.Other offshore operators expect changes in the Offshore Law before sending gas to the market.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
