OIL
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Petrom Expected To Announce Record Profit. Shares Gained 30% Since Start Of The Year
The largest company in Romania is expected to report a net profit ranging between EUR830 to EUR900 million on Wednesday, the largest ever made in the Eastern European country.
Oil Companies Start Year With Consecutive Fuel Price Hikes
Since the beginning of the year, namely in less than two weeks, gasoline and diesel fuel prices have grown by 3%, with the latest increase operated by OMV Petrom (SNP.RO), the largest compan...
Petrom’s CFO About The Crisis: That’s The Interesting Part Of Our Job
Daniel Turnheim is the youngest member of the management of Petrom (SNP.RO). He took over as chief financial officer a year ago. The 36-year old executive’s appointment came at a time when t...
Black Sea Depths To Claim $2.5 Billion For Exploration Alone
The Black Sea depths are becoming the busiest battleground for the world’s oil giants, which have so far announced plans to spend $2.5 billion to explore this unknown area. Early next year,...
Battle Starts Over Romania’s Resources
ExxonMobil hopes that along with Petrom, Romania’s largest company, it will join the exclusive club of prospectors of the sea depths, through their operations in the Neptun block in the Blac...
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...
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 Gives Old Oil Blocks To Irish Investors
Romania's Government has added five years to the oil drilling rights held by gas company Romgaz on a surface of 16,200 square kilometers and has signed seven exploration agreements with fore...
Latest Bet Of US Oil Companies In Romania: Shale Gas
Shale gas, maybe the most fashionable fuel of the moment, has been on the agenda of the talks between Romanian and U.S. officials during the recent visit of the Romanian authorities to Washi...