By comparison, at the end of 2020 the amount was about RON2.4 billion.
“Cash, cash equivalent and other financial assets (bank deposits and government paper purchased) reached RON3,409.8 million on September 30, 2021, as compared with RON2,412.4 million at the end of 2020 (+RON 997.3 million,” Romgaz said in its third quarter report published on the Stock Exchange.
The company wants to take out a EUR325 million (RON1.6 billion) loan to finance the $1.07 billion (RON4.6 billion) acquisition of ExxonMobil Exploration and Production Romania Limited’s 50% stake in the Neptun Deep Black Sea block.
The company has the approval of the Board of Directors for this deal and shareholders will vote on this issue on December 9, 2021. Upon signing the agreement, Romgaz will pay $106 million to Exxon.
Romgaz ended the first nine months of 2021 with a net profit of RON1.16 billion, up 23% compared with the same period of 2021.
Revenue climbed 20% to RON3.5 billion, its quarterly report says.
Romgaz has RON13.5 billion capitalization and its shares have gained 25% since the beginning of 2021.
(English version by Loredana Fratila-Cristescu)