Premier Nicolae Ciuca stated that the extraction of the first natural gas from the Black Sea could take place this year, saying that over the period to come investments in the Neptun Deep start as well as those connected to the exploitation of the gas from the deep. Nicolae Ciuca stated on Monday at Radio Romania Actualitati that Romania is not affected by the lack of energy and gas resources. ‘Romania is not a country which is affected by the lack of energy and gas resources. Romania has potential in both domains and that is why we come with two parts. One is to sign up in the programmes of the European Union to develop new energy sources and we have as objective to develop the renewable sources of energy, and as regards the independence of gas resources against the Russian Federation, we have decided that through this law (the offshore law) to insure stability and legal predictability to the business environment in the domain’ the premier said. He said that extraction of the first natural gas from the Black Sea will take place this year. ‘There is the possibility that in a short period of time we start investments in the Neptun Deep and insure the exploitation of the gas in the Black Sea, at the same time, we insure the exploitation of the gas on the national territory from the deep, this investment being able to insure gas starting with 2024. From the Black Sea we have the possibility to get gas at the middle of this year. There is investment made by Black Sea Oil and Gas and signed the reception document, with the possibility that we can insure one billion of cubic metres of gas annually through this investment and of course, at the end of 2026, the beginning of 2027 to have the first gas from Neptun Deep’ explained premier Nicolae Ciuca.
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, announced it recorded in the first nine months of 2024 a gross turnover of USD 3.57 billion and an operational result (EBITDA, an indicator that measures the company's profitability before deducting depreciation, interest, fees, and taxes) of about USD 125 million. The financial results were impacted […]
The Romanian natural gas group Romgaz (BVB: SNG) announced that it obtained a net profit of almost RON 2.3 billion (EUR 460 million) in the first nine months of this year, 4.8% more compared to last year, according to a note sent to investors. The company's total revenues dropped by 16.3% y/y to RON 6.13 […]
Romania's energy group OMV Petrom announced that Transocean Barents, the mobile semi-submersible offshore drilling unit contracted for the Neptune Deep natural gas extraction project, has arrived in Constanta. "The arrival of the platform marks a crucial moment in our effort to develop the first gas project in the deep water area in Romania, together with […]
Romania's economy will expand by only 1.4% in 2024, slowing down from 2.4% in 2023 and 4.0% in 2022, but it will gradually recover to stronger growth rates in the coming years: 2.5% in 2025 and 2.9% in 2026, according to the European Commission's Autumn 2024 Economic Forecast. The rebound will be driven by a […]
If you’re searching for a hidden gem in Europe, Romania is calling your name. Tucked between the Carpathian Mountains and the Black Sea, this country is an untouched marvel, combining natural beauty, rich history, and endless opportunities for entrepreneurs and retirees alike. Romania offers a unique blend of modern life and ancient charm, making it […]
Let’s talk about the lack of connection with our body and how this is closely tied to burnout, plus, what to do about it. So often throughout the day, we live almost entirely in our minds. We’re focused either on what we have to do at the moment—tasks that increasingly demand mental effort over physical […]
