Romania will have a surplus of one billion cubic metres of natural gas next winter coming from the Black Sea, from the area where Black Sea Oil & Gas operates, Energy Minister Virgil Popescu said on Tuesday."Had Romania had the Black Sea natural gas ... we would have been fully energy independent, we would have been a natural gas supplier even, a regional energy stability supplier. Instead, Romania has another area and it is almost ready, the area where Black Sea Oil & Gas operates. We have had discussions with them, and this spring the first gas will come out of the Black Sea, so Romania will have a surplus of one billion cubic metres next winter that will come from the Black Sea. That will further decrease Romania's dependence on Russian gas," Popescu told B1 TV private broadcaster.He said that Romgaz will also start investing in the Caragele oil field in Buzau County, where the first gas will most likely come in 2023."We also have onshore deposits inside the country, especially the Caragele oil field, in the Buzau area, the deep field at Caragele, where Romgaz starts investing and starts digging again now. There we have a rich field and we are probably talking about the first gas there in 2023. We are clear about what we want to do in the natural gas area, which is a very sensitive area very much related to regional geopolitical games and where we focus so that we can have no more problems moving forward," said Popescu.Regarding the supply of fuels given the high prices of oil, Popescu said that he does not believe that Romania will have such problems."Romania is an oil producer, but it also imports oil from Kazakhstan. KazMunaiGaz brings its oil from Kazakhstan and we are less exposed from this point of view than other countries, because we are a country that produces both oil and natural gas and the price of oil follows world prices. I don't think we're going to have problems with fuel supply, I don't think we're going to have any. We had no problems when there was that explosion at the Petromedia refinery, when the refinery was shut down; there was no problem then. We managed to talk to the market players, to KazMunaiGaz, which imported oil, and OMV-Petrom, which brought in additional supplies and we had no problems," said Popescu.The Caragele field is estimated to yield about 30 billion cubic metres, and the Neptun Deep block 42-84 billion cubic metres. The estimated reserves in the Midia block, where Black Sea Oil & Gas operates, amount to approximately 20-30 billion cubic metres.
Real estate developer Globalworth has begun construction on Green Court D, the fourth building in its Green Court office complex in Bucharest’s Aurel Vlaicu area. Scheduled for completion in 2027, the project is now in its preliminary phase, which includes enclosure works and excavation for the basement structure, the company said. The new building will […]
Romania’s National Committee for Emergency Situations decided to distribute drinking water from the state reserves to 13 localities in the counties of Prahova and Dâmboviţa. The area was severely impacted by a drop in water levels at the Paltinu Dam, leading to problems in the water distribution system and affecting over 100,000 people, local hospitals, […]
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
