Romanian state-owned oil and gas company Romgaz has finalized exclusive negotiations to reach an agreement with ExxonMobil Exploration and Production Romania Holdings Ltd on the terms and conditions for the acquisition of the Neptun Deep project stake, so that the deal could be finalized in the first quarter of 2022, Romgaz said in a Tuesday release to the Bucharest Stock Exchange."SNGN Romgaz SA and ExxonMobil Exploration and Production Romania Holdings Ltd. have finalized exclusive negotiations and reached an agreement on the terms and conditions for the acquisition of all the shares issued by (representing 100 percent of the share capital of) ExxonMobil Exploration and Production Romania Limited, which holds 50 percent of the acquired rights and obligations committed to under the Leasehold Agreement for oil exploration, development and exploitation in the XIX Neptun Deep block, as well as regarding the transfer of the project operations to OMV Petrom SA starting with the date of the transaction's completion," the report states.After getting the nod of the Romgaz S.A Board of Directors and the approval of the company's shareholders' Extraordinary General Meeting, the agreement will materialize in the signing of the stake purchase contract. Depending on these approvals and the fulfillment of the suspensive conditions set forth by the purchase contract, it is estimated that the transaction will be completed in the first quarter of 2022.ExxonMobil and OMV Petrom are currently equal partners in the Neptun Deep deepwater project, where exploration has revealed deposits estimated at 42-84 billion cubic meters.ExxonMobil announced its intention to exit Romania, and OMV Petrom said it might decide next year to invest in the Neptun Deep project, depending on the legislative changes in Romania and on the market situation.
The famous show "Ovo" ("egg" in Portuguese), created in 2009 by Cirque du Soleil, is scheduled for April 23–26, 2026, at BT Arena in Cluj-Napoca. So far, the classic Cirque du Soleil show has delighted over 7 million spectators in 40 different countries. Despite its age, it has been reimaged, with a new set, acrobatic […]
The state-owned group Electrica is set to list the largest green corporate bond issuance in Romania, worth EUR 500 million, on the Luxembourg and Bucharest stock exchanges. According to the company's press release, the European Investment Bank is one of the key participants in the issuance. Overall investor demand at the final price exceeded the […]
Low-cost airline Wizz Air announced a major expansion of its operations in Bucharest, adding a second aircraft to its base at Băneasa Airport starting this October. The airline will relocate nine routes from Otopeni to Băneasa, five of which will be operated exclusively from the secondary airport. At the same time, six new routes will […]
The annual inflation rate in Romania rose to 5.7% in June, up from 5.45% in May, according to data published on Friday, July 11, by the National Institute of Statistics. It is the highest level this year. The consumer price index, compared to May, was 0.45%. The inflation rate from the beginning of the year, […]
A taxi driver who refused to pick up a passenger at Bucharest’s Henri Coandă International Airport on Thursday night, citing the rule that prohibits the second car in line from leaving the queue, was fined and had his professional license suspended, according to the Romanian Police. Local news channel Digi24...
Local authorities in Buzău County, in the south-east of Romania, announced the opening for traffic of the new bridge over the Buzău River on Friday, July 11. At over 1.3 km in length, it is the second-longest road bridge in the country and is part of the Lot 1 Buzău – Vadu Pașii of the […]
