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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO Govt. to amend Offshore Law in line with investors’ expectations, after elections

Romanian government officials have promised the investors involved in offshore gas projects in the Black Sea that the offshore legislation would improve after the parliamentary elections.

"We have held discussions with producers and investors in the Black Sea, to whom we promised that we would improve the offshore legislation immediately after we have another structure in Parliament. Thus, the investors will be able to recover their investments by working in a stable, predictable, and, most importantly, non-retroactive legislation," said Niculae Havrilet, a state secretary in the Ministry of Economy and Energy, Hotnews.ro reported.

He argued Romania must speed up using its gas resources before the European Union bans the use of gas, as it has done with the coal.

There is already a draft agreed with investors interested in Black Sea gas, Havrilet assured, speaking of a win-win relationship with the investors.

OMV Petrom and ExxonMobil have repeatedly delayed their final investment decision for the Neptun Deep perimeter, while BSOG, controlled by the US fund Carlyle, prepares for starting production around the end of 2021. Both investors expect a change in the offshore legislation before taking further steps.

Meanwhile, Romania has recently gained a rival in the Black Sea. Turkey announced the discovery of the largest natural gas field "in its history", estimated at 320 billion cubic meters. For comparison, the gas reserves in the Romanian Black Sea area are estimated at about 200 billion cubic meters.

(Photo: Flyingrussian/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO Govt. to amend Offshore Law in line with investors’ expectations, after elections

Romanian government officials have promised the investors involved in offshore gas projects in the Black Sea that the offshore legislation would improve after the parliamentary elections.

"We have held discussions with producers and investors in the Black Sea, to whom we promised that we would improve the offshore legislation immediately after we have another structure in Parliament. Thus, the investors will be able to recover their investments by working in a stable, predictable, and, most importantly, non-retroactive legislation," said Niculae Havrilet, a state secretary in the Ministry of Economy and Energy, Hotnews.ro reported.

He argued Romania must speed up using its gas resources before the European Union bans the use of gas, as it has done with the coal.

There is already a draft agreed with investors interested in Black Sea gas, Havrilet assured, speaking of a win-win relationship with the investors.

OMV Petrom and ExxonMobil have repeatedly delayed their final investment decision for the Neptun Deep perimeter, while BSOG, controlled by the US fund Carlyle, prepares for starting production around the end of 2021. Both investors expect a change in the offshore legislation before taking further steps.

Meanwhile, Romania has recently gained a rival in the Black Sea. Turkey announced the discovery of the largest natural gas field "in its history", estimated at 320 billion cubic meters. For comparison, the gas reserves in the Romanian Black Sea area are estimated at about 200 billion cubic meters.

(Photo: Flyingrussian/ Dreamstime)

[email protected]

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