12.17.2014

OMV Petrom (SNP.RO) and Hunt Oil Company of Romania announced the discovery of a crude oil and gas reserve in southern Buzau county, following a joint exploration investment that amounts to EUR5 more

12.11.2014

A liter of gasoline can be bought in Romania for 5.52 lei, just like in October 2011, as the crude oil prices plummeted by 40% in less than half of year from the $115 high of June. more

12.03.2014

The royalty system for the oil industry will remain unchanged next year and changes will be considered afterward, minister-delegate for the Budget Darius Valcov said Wednesday. more

12.02.2014

Real estate development and consultancy, and metalworking are the sectors with the biggest losses, while oil and gas extraction and trade operations were the most profitable in 2013, according to a more

11.24.2014

The plant US-held Lufkin opened in Ploiesti has been exporting oilfield equipment to various parts of the world from North America to Africa for more than a year now. The plans are to boost production more

11.20.2014

State-run harbor operator Oil Terminal (OIL.RO) wants to develop as a center of oil and fuel trade in the Black Sea region, in an attempt to boost the business that has been flat for four years and more

11.14.2014

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) switched to a net profit of RON117,000 in January-September, from RON6.4 million loss in the same period a year earlier, the company said more

11.11.2014

The price of a gasoline liter in Romania reverted to the level of end-March, with the plummeting crude oil prices canceling the increase of fuel excise duty by 0.07 euros per liter introduced by the more

10.21.2014

Crude oil decline to some $80 a barrel puts pressure on investments and authorities must be very careful when it comes to levying taxes in the oil industry, said Gabriel Selischi, responsible for more

09.30.2014

Romanian Mineral Resources Agency (ANRM) will hold early next year an international auction to lease 36 oil blocks, energy minister Razvan Nicolescu stated Tuesday. more

09.23.2014

The almost EUR1 billion investments carried out in the past two years in two of Romania’s largest refineries, Petromidia and Petrobrazi, are likely to completely wean the local market off imports of more

09.19.2014

Conpet Ploiesti, the company that manages the system of oil transport through pipelines, considers expanding into warehousing activities, in a bid to generate additional revenue from services provided more

09.16.2014

OMV Petrom (SNP.RO), the largest local oil company, can produce about 47% of the fuel Romania needs, following completion of the EUR600 million upgrade at its Petrobrazi refinery (Ploiesti). This is more

09.12.2014

Romanian state-run oil transporter Conpet Ploiesti (COTE.RO) and Serbian oil transporter Transnafta will carry out, in the next three months, an economic analysis regarding the feasibility of an oil more

09.11.2014

Lukoil Lubricants East Europe, part of Russian oil group Lukoil, has launched several types of motor oil for vehicles running on gasoline and liquified petroleum gas (LPG) and targets RON860 million more

08.22.2014

The pipeline that was supposed to connect Constanta harbor to Central Europe refineries is still just a project on paper, so that the future of harbor operator Oil Terminal is still tied, at least on more

08.14.2014

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) Thursday said its sales rose 4% to 50.9 million lei (EUR11.4 million) in January-June, from RON48.9 million in the corresponding period a more

07.23.2014

Austria’s OMV, which controls Romania’s leading oil and gas company Petrom (SNP.RO), invested EUR41 million to start activities at the OMV Petrom Global Solutions service center of Romania. more

07.16.2014

Romania’s largest oil and gas company OMV Petrom (SNP.RO) Wednesday said the Marina 1 exploration well identified a new oil reservoir on the continental shelf of the Black Sea. more

07.14.2014

Romania’s second largest oil group Rompetrol plans to sell its in environmental services unit Ecomaster to Oil Depol Service, a local company that provides industrial and environmental clean-up more

06.17.2014

TIAB, a unit of the French Vinci group, is aiming for a slice of the business of EU-funded irrigation systems development, and of the upgrades of the hydrocarbon exploration and drilling systems, amid more

06.12.2014

Adrian Porumboiu, the owner of Racova, one of the largest farming groups of Romania, is in advanced talks to sell his vegetable oil plant in Vaslui County (NE Romania). more

06.02.2014

Lukoil Romania, which owns a 300 filling station network, saw revenue tumble by over 17% last year, after the Russian-held business had advanced gradually since 2009, getting beyond the level reported more

05.30.2014

Ploiesti-based Petrotel refinery, owned by Russia’s oil group Lukoil, refined 1.89 million tons of oil last year, 15% fewer than in 2012, according to the reports of the company. more

05.21.2014

Expur, a major player on Romania’s vegetal oil market, will complete, in autumn, the relocation of industrial equipment taken over from Cargill in early 2013 in the wake of the deal by which it also more