The Neptun Deep gas extraction project in the Black Sea, carried out in partnership between OMV Petrom and Romgaz, is progressing on schedule to deliver the first gas in 2027, OMV Petrom reports. Cristian Hubati, the company’s Exploration and Production Director, stated that the Neptun Deep project is advancing according to the planned timeline. “The project is at 46%, we are on schedule and moving forward energetically,” Hubati said on Thursday during a press conference. Asked about reassessing the resource in this field, Hubati said it is an ongoing process as data is acquired. The company also plans to drill a new exploration well soon. Neptun Deep is the largest natural gas project in the Romanian Black Sea and the first offshore project in deep waters in Romania. The exploration, exploitation and production rights for the Neptun Deep perimeter are held by OMV Petrom and Romgaz, each with a 50% stake. OMV Petrom is the operator of the project. The first gas quantities are expected in 2027. Total production is estimated at 100 billion cubic meters of natural gas, and the necessary investments are estimated at 4 billion euros, costs shared equally between the two partners, OMV Petrom and Romgaz. (Photo:https://brandportal.omvpetrom.com/)
Cris-Tim Family Holding (BVB: CFH), the market leader in cold cuts and ready meals in Romania, reported revenues of RON 853.1 million (EUR 170 million) for the first nine months of 2025, a 3% y/y increase, supported by 5% growth in the Cold Cuts segment and a strong 21% advance in ready meals. Profitability improved […]
Romania’s Fiscal Council expressed cautious optimism that the fiscal measures adopted in the second half of 2025 could reduce the budget deficit to around 6.5% of GDP in 2026, according to its assessment of the second budget revision approved by the government. The Council stated that such an outcome would represent a significant improvement from […]
Romania’s public debt increased by another RON 14 billion (EUR 2.8 billion) in August after the RON 30 billion leap in July, to reach RON 1.084 trillion (EUR 213.8 billion) at the end of the month, according to data published by the Finance Ministry. After the Treasury raised nearly EUR 5 billion with FX bonds […]
The Conservation Carpathia Foundation has been awarded the Order of Merit of Germany for its long-term conservation work in Romania’s Făgăraș Mountains. Its executive directors, Barbara and Christoph Promberger, received the distinction from president Frank-Walter Steinmeier during an official ceremony held on December 1 at Schloss Bellevue in Berlin. The ceremony honored 20 individuals whose […]
Romania has chosen its first team to compete in the prestigious Bocuse d’Or Europe culinary competition, marking the country’s official entry into the global Bocuse d’Or circuit. Chef Vasilică Bejenaru, together with coach Liviu Preda and commis Andrei Fabian Lupoi, won the inaugural National Selection held last week in Brașov. The team will represent Romania […]
President Nicușor Dan used his National Day speech on Monday, December 1, to offer a blunt view of Romania, which he said is still “a corrupt country,” but noting that the situation has improved over the past 20 years. Speaking at the Cotroceni...
