The sale of a 50% stake in Neptun Deep Black Sea offshore perimeter between the state-controlled company Romgaz (the buyer) and ExxonMobil (the seller) is temporarily blocked due to a controversy related to the fact that the American company holds the operating license through a vehicle registered in the Bahamas and not in Romania, government sources told Economedia. At the moment, the two sides are looking for a solution to speed up the EUR 1 bln deal. Romgaz shareholders had approved the transaction since December 10, 2021, and the market expected the documents to be signed quickly. Romgaz also approved a EUR 325 mln loan to cover part of the acquisition amount. The Romanian Government is waiting for the conclusion of the Romgaz-ExxonMobil transaction to send the draft Offshore Law to the Parliament. This law is key because it will unblock OMV Petrom’s final investment decision in this project.Other offshore operators expect changes in the Offshore Law before sending gas to the market.
Ten non-governmental organizations in Romania have issued a joint letter criticizing the executive for the emergency ordinance adopted on Thursday, January 16, which provides sanctions, including a turnover tax, for social media giants that fail to obey rules regarding electoral ads. Another government measure under fire from the opposition limits voting in the diaspora according […]
Dacia, part of the French Renault group, will launch several electric models to compete with Chinese brands for the affordable EV car market in Europe. The first electric model will be the next Sandero, which will appear sometime at the end of 2027, the brand's director, Denis Le Vot, said on Thursday, according to Reuters. […]
Happy 2025, dear Insiders, may it be a good year! And let it start with classics, some universal, some underground. Italian director Federico Fellini is one of the biggest names in the history of the medium. To say he was very influential is an understatement. He has his own adjective (Fellini-esque) while scenes from his […]
Romanian national airline Tarom announced the establishment of a new company, Tarom Tehnic, dedicated to providing maintenance and repair services for civilian aircraft, specializing in Boeing, Airbus, and ATR models. The new company is expected to generate revenues of up to EUR 10 million in its first year of operation, according to estimates from the […]
Romania has been named the special guest country at the 2026 Cairo International Book Fair, the Ministry of Culture announced. The event will coincide with the celebration of 120 years of Romanian-Egyptian diplomatic relations. According to the ministry, the news was shared by Dr. Ahmed Fouad Hano, Egypt's minister of culture, during a press conference […]
Bucharest has started implementing a special recycling project that directly benefits stray animals. In Tineretului, Floreasca, and Circului parks, eco-friendly vending machines have been installed to provide food and water for stray cats in exchange for recycling bottles and aluminum cans. “Street cats lead a hard life, especially in winter. Food is essential for their […]
