Black Sea Oil and Gas (BSOG) does not have war risk insurance for the Ana and Doina natural gas fields, which have recently started production, but the project moves forward, BSOG CEO Mark Beacom said on Tuesday.He participated in a ceremony at Vadu, Constanta County, to mark the start of natural gas exploitation under the Midia project operated by BSOG. The first gas from these blocks entered the national grid on June 15.According to Beacom, there is no war in Romania's economic zone, but there is an impact. Mines have been detected near the platform, there were warships around, planes flying over the platform. Serpent Island, he said, is not far away, and they have witnessed Crimean platforms being bombed and everything is so close. But he added the company will carry through its project.Asked if the project is insured against such events, he said no. He said you can't have insurance when you're operating near a war, so the company has to take up the risks.Asked if BSOG will drop the lawsuit filed against Romania over some provisions in the Offshore Drilling Law that are still in force, he replied that he has not yet made a decision.In his turn, Gabriel Comanescu, CEO of Grup Servicii Petroliere (GSP), the company that built the project, pointed out that this is the largest infrastructure project carried out in Romania in the last 30 years."It was a complicated project. The first engineering works started in 2019, laying the pipeline on land and under the sea took 90 days, and training started a year before. The offshore platform has no human operators, there is only maintenance and emergency response," Comanescu said.According to him, the BSOG project is a huge step forward towards reducing Romania's dependence on natural gas imports."It is a project made 95% by GSP. From my point of view, it is the largest infrastructure project of the last 30 years, a brand new, tailor-made one. It is made by our strength, made by a Romanian company. It's like we started with a Trabant and ended with a Mercedes S Class," added Comanescu.
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
