Seven internationally acclaimed artists, including American actors Bill Murray and Kathleen Turner, were honored on Saturday, June 28, with stars on the Walk of Fame in Sibiu, Romania, as part of the International Theatre Festival (FITS), News.ro...
The management of Romanian state-controlled natural gas company Romgaz summoned for April 28 the representatives of the shareholders to endorse, once again, the USD 1.06 bln deal with ExxonMobil involving half of the offshore perimeter Neptun Deep in the Black Sea, the company announced in a note to investors. The company’s management estimates that the completion of the transaction will occur in the second quarter of the current year. The production will not begin before 2026, energy minister Virgil Popescu estimated, commenting on the development. Shareholders’ explicit approval is needed for a second time because, since the previous consent, certain clauses of the sale-purchase agreement were adjusted - especially in the sense of covering in favour of Romgaz of certain tax risks - the management explained. According to sources familiar with the deal consulted by Profit.ro, those tax risks are related to the obligation to pay a share transaction tax in the Bahamas, where Exxon’s investment vehicle subject to the deal is registered. The price of the deal was maintained at USD 1.06 bln, which can be positively adjusted by a maximum of USD 10 mln, while a negative price adjustment is not limited. Upon signing the sale-purchase agreement, Romgaz will have the obligation to pay the sellers an amount equal to USD 106 mln representing an advance payment/deposit. After satisfying the conditions precedent required to complete the transaction, as stipulated in the sale-purchase agreement, Romgaz shall pay the amount representing the difference between the acquisition price and the advance payment/deposit paid upon signing the sale-purchase agreement.
Seven internationally acclaimed artists, including American actors Bill Murray and Kathleen Turner, were honored on Saturday, June 28, with stars on the Walk of Fame in Sibiu, Romania, as part of the International Theatre Festival (FITS), News.ro...
Romania’s star swimmer David Popovici won two gold medals and one bronze and broke a European record at the European U23 Swimming Championships in Samorin, Slovakia, which took place from June 26 to 28. Popovici won continental gold in Samorin in the 100m freestyle and 200m freestyle, and the bronze medal in the 50m freestyle. […]
The Romanian Ministry of Defense (MApN) stated that it is implementing several air defense procurement programs, including SHORAD-VSHORAD and MANPAD, which were approved by Parliament in previous years as part of efforts to modernize the country's military capabilities. The SHORAD-VSHORAD program, focused on acquiring short- and very short-range air defense systems, was approved in 2020...
The Romanian government has approved a new support mechanism for vulnerable electricity consumers aimed at helping low-income households cover their energy bills after July 1, when the electricity price cap expires. The emergency ordinance, passed on June 27 and initiated by the Ministry of Energy in collaboration with the Ministry of Labour and Social Solidarity, […]
Romania’s air passenger traffic increased by 8.1% in the first quarter of 2025 compared to the same period last year, rising from 5.18 million to nearly 5.6 million passengers, according to data from the National Institute of Statistics (INS) quoted by Economica.net. The busiest airports were Bucharest’s Henri Coandă (also known...
President Nicusor Dan has convened the meeting of the Supreme Council for National Defense (CSAT), set to take place on Monday at the Cotroceni Presidential Palace, the Presidential Administration announced.According to the cited source, on the agenda of the CSAT meeting, which will take place at 12:00, are included topics related to:* the status and […]