OIL
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Oil Industry Equipment And Service Providers’ Market Value Down 30% In 2015
Oil industry equipment and service providers have lost 30% of their market value this year, the worst decline since the 2008-2009 crisis, due to dwindling revenue caused by lower investment...
Total VP: Focus On Lubricant Production, No Plans For Oil Exploration In Romania
French-held Total group will not expand its Romanian operations beyond the lubricant business, and has no intention of following in the footsteps of the other major oil companies to try to f...
Olive Oil Market Up 33% In Two Years
The olive oil market will reach more than 200 million lei (EUR45 million) this year, an increase of 20% on 2014 and 33% in 2013. This segment is the fastest growing on the oil and fats marke...
Grup Servicii Petroliere Returned To Profit In 2014
Grup Servicii Petroliere (GSP), the flagship company of the Upetrom group of Constanta businessman Gabriel Comanescu, returned to profit in 2014 from 163 million lei (EUR37 million) loss in...
Low Oil Price Helps Damen Shipyards Galati Double Revenue
Shipbuilder Damen Shipyards Galati, part of the Dutch Damen group, posted 288 million lei (EUR65 million) revenue in the first half, 2.2 times higher than in the year-earlier period.
Cheap Oil Hurts Grup Servicii Petroliere’s Business
Grup Servicii Petroliere (GSP), the offshore drilling company of Constanta businessman Gabriel Comanescu, expects revenue to drop by more than 20% this year mainly because of the abrupt decl...
KMG International Exported $200m Worth Of Romanian Gas And Diesel To Greece In 2014
KMG International, the former Rompetrol group, is the largest exporter to Greece in Romania. The oil group, which owns the Petromidia Refinery on the Black Sea coast, shipped more than $200...
US Companies Made $850M Revenue From Oil Industry Equipment And Services In Romania in 2014
Major US suppliers of oil and natural gas industry equipment and services made more than $850 million revenue in Romania last year. More than 2,000 people, most of them in Ploiesti, work on...
Romgaz Looking For Oil In Slovakia
Romgaz (SNG.RO) might expand into oil drilling, after spending more than a hundred years drilling for natural gas only, if the first exploration wells confirm the estimates about the oil dep...