National gas company Romgaz on Thursday concluded with E.ON Energie Romania a sales and purchase agreement for natural gas worth 3.845 million RON (without VAT), according to a report submitted to the Bucharest Stock Exchange (BVB) on Friday.The agreement provides for the sale and purchase of natural gas for the period November 1, 2024-April 1, 2025, and a Bank Guarantee Letter was established as a guarantee.The payment must be made within 30 days of invoicing, and penalties in case of delay will be 0.10% per day.SNGN Romgaz is the largest producer and main supplier of natural gas in Romania. The company is admitted to trading on the Bucharest Stock Exchange (BVB). The main shareholder is the Romanian State, with a 70% stake. The company has a vast experience in the field of natural gas exploration and production, its history starting more than 100 years ago, in 1909.Romgaz carries out geological exploration in order to discover new gas deposits, produces methane gas by exploiting deposits from the company's portfolio, stores natural gas underground, performs interventions, capital repairs and special operations at wells and provides professional technological transport services.In 2013, Romgaz expanded its field of activity by assimilating the thermal power plant from Iernut, thus becoming a producer and supplier of electricity.On August 1, 2022, Romgaz became the sole shareholder of Romgaz Black Sea Limited (established ExxonMobil Exploration and Production Romania Limited), following the completion of the acquisition and the transfer of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited, which owns 50% of the rights acquired and the obligations assumed by the Oil Agreement for the deep water area of the XIX Neptun offshore perimeter in the Black Sea.
The Arts Hour on Tour, the BBC World Service arts and culture program that visits cities all over the world, will be in Bucharest next week to record a show on topics relating to the cultural life in the city and Romania. Television and radio broadcaster Nikki Bedi, who curates, writes, and presents the program, […]
Romanian prime minister Marcel Ciolacu recently stated during an interview that foreign minister Emil Hureaznu will be replaced if he continues to send messages to private individuals, such as those addressed to Elon Musk, without consulting him. The warning comes after Emil Hurezeanu stated on Saturday, February 22, that Elon Musk’s support for Călin Georgescu […]
Romanian state-controlled gas producer Romgaz (BVB: SNG) reported a net profit of RON 3.22 bln (EUR 647 mln) in 2024, up 14.5% compared with the previous year. The company’s revenues went down by 11.9% to RON 7.93 bln (EUR 1.6 bln) because of lower...
The Romanian Parliament rejected the no-confidence motion initiated by far-right parties AUR, SOS Romania, and POT against the government led by Social Democrat prime minister Marcel Ciolacu. The motion received 147 votes in favor and one against during the lawmakers' meeting on Friday, February 28 - a figure lower than the 155 signatures with which […]
Nuclearelectrica (BVB: SNN), the company that operates Romania’s only nuclear power plant – Cernavoda, reported a net profit of RON 1.7 bln (EUR 343 mln) in 2024, down 31% compared with the previous year. The company recorded 37.6% lower revenues from electricity sales due to lower average...
In his first press conference since becoming interim president, held on Friday, February 28, Ilie Bolojan said that discussing peacekeeping troops in Ukraine is premature, since no peace agreement was reached. He also discussed increasing Romania’s defense spending, the relationship with the United States, and the reconstruction of Ukraine. The press conference was organised after Ilie […]
