BLACK SEA
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UK Melrose To Invest $130M In Black Sea Project – Ambassador
British energy company Melrose Resources plans to invest around $130 million in deepwater exploration at Romania’s Black Sea platform, after it has secured approval for the project, the UK A...
Lukoil To Invest $1.5B In Romania Black Sea Blocks If Prospecting Successful
Russian oil giant Lukoil will invest around $400 million in hydrocarbon prospecting at the Romanian Black Sea platform, with another $1.5 billion available for further works if discoveries a...
OMV Petrom, Exxon To Drill First Wells In Black Sea This Winter
Romanian dominant oil company OMV Petrom (SNP.RO) and US giant Exxon Mobil are scheduled to start drilling in the Black Sea this winter, while the first data on possible oil and gas discover...
Black Gold Rush On Black Sea
The success rate for deep hydrocarbon exploration is 10%-20%; the rest is risk in the billions of euros. This year, two international giants and Romania's largest oil and gas producer OMV Pe...
Romania Amends Law To Ease Exploration Of Black Sea Blocks
Romania’s government will allow the companies drilling and prospecting underwater on the continental plateau to work without a construction authorization, in a decision that’s relevant for e...
Lukoil Accepts Black Sea Challenge, Earmarks $300M For Exploration
The depths of the Black Sea lure another major oil company after Petrom and ExxonMobil, as Russian-held giant Lukoil announces it is ready to invest up to $300 million in exploration. The Bl...
Romania Boasts Second Highest Wheat Production Growth Among Black Sea Countries
Romania ranks second in terms of wheat production increase in 2011 among countries bordering the Black Sea.
Hotel Room Occupancy Rate On Romanian Black Sea Coast Hits Almost 100%
The hotel room occupancy rate on the Romanian Black Sea coast has increased to almost 100% at the end of the week, association for tourism development Litoral - Delta Dunarii said in a press...
Petrom And ExxonMobil Bet Over EUR100M On Black Sea Bed
Romania's dominant oil and gas company Petrom and US giant ExxonMobil, the world’s largest oil company, are taking up the costliest bet ever made on Romania’s underground reserves: seeking h...