09.01.2015

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 market. more

08.28.2015

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 2013. more

08.24.2015

Vegetable oil brand Untdelemn de la Bunica, sold by local entrepreneurs to trader Cargill in 2004 and then bought by France’s Expur in 2013, accounts for 7% of the local vegetable oil market, more

08.19.2015

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. more

08.05.2015

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 decline in oil more

07.02.2015

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 million more

06.26.2015

Crude oil price, which halved in the last year, could stay at $65-70 per barrel next year as well, but hydrocarbon price will increase 3-4-fold in the next ten years, according to the estimations of more

06.25.2015

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 pumping more

06.22.2015

Australian oil and gas company ADX Energy got a 30-month extension of the exploration period for the EX-10 PARTA permit in Timis county, western Romania, from the national agency for mineral resources more

06.18.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) aims to boost gas and diesel oil trades to Constanta seaport to offset the drop in crude oil imports for European refineries, which are more

06.18.2015

Regional investment fund SIF Oltenia (SIF5.RO) plans to sell its 85% stake in vegetable oil producer Argus Constanta (UARG.RO) to a strategic investor in the same industry. more

06.16.2015

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 deposits in more

06.13.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) forecasts 15% higher revenues in 2015, at RON125 million, as it expects the low oil prices to boost trades of crude oil and gas through more

06.01.2015

OMV Petrom, the only oil and natural gas producer in Romania, says it is preparing the data rooms for the 30 onshore fields it announced at the end of last year it wanted to give up. This phase means more

05.15.2015

Romanian oil storage and shipment firm Oil Terminal (OIL.RO) reported a net profit of RON6.5 million in January-March, 13-fold higher compared to the same period a year earlier, the company said more

05.11.2015

OMV Petrom, the largest local oil company, says the number of gas stations it has now is optimal, even though it was looking for buyers for a set of about 100 of them last year. more

04.24.2015

Trans-Oil group, controlled by Georgian-born US tycoon Vaja Jhashi, budgeted $200 million investments in the Romanian agriculture sector, following its acquisition of vegetable oil plant Ultex last more

04.09.2015

Oil and gas producers have had to cut investments due to the sudden drop in oil price, which translates into a lower demand for drilling equipment, pipes and drilling services. more

03.28.2015

Romania’s underground still conceals over $200 billion worth of oil, even after 150 years of production, but increased competition, through the emergence of several small players, is needed to take more

03.27.2015

Hunt Oil Company of Romania, a unit of Texas-based oil group Hunt Oil, plans to contract 3D seismic prospecting services in Adjud (Vrancea County), on an area of nearly 230 square kilometers, through more

03.13.2015

Romania’s diesel oil exports reached EUR2.4 billion last year, with 1.47 million tons shipped abroad in January-November, the highest level since 2008 and 70% more than in 2013. more

03.12.2015

From 2008 to 2013, Romania lost 10,000 jobs in the refining industry, a period during which oil processing capacity halved as Arpechim and Rafo Onesti, some of the biggest local refineries were shut more

03.10.2015

Trans-Oil, the business controlled by millionaire Vaja Jhashi and the biggest agri-business group in the Republic of Moldova, took the first step to erect a silo that can store 20,000 tons of oilseeds more

03.02.2015

“To me, Petrom is more than just a company. It is a passion”. These are the words of Mariana Gheorghe, who became chief executive officer of OMV Petrom (SNP.RO), the only oil and gas producer in more

02.23.2015

Romanians now pay more than Germans for a fill-up, but earn 5 times less more