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 andrei@romania-insider.com. 

 

Romgaz-ExxonMobil deal delayed until ownership details are settled

The sale of a 50% stake in Neptun Deep Black Sea offshore perimeter between the state-controlled company Romgaz (the buyer) and ExxonMobil (the seller) is temporarily blocked due to a controversy related to the fact that the American company holds the operating license through a vehicle registered in the Bahamas and not in Romania, government sources told Economedia.

At the moment, the two sides are looking for a solution to speed up the EUR 1 bln deal.

Romgaz shareholders had approved the transaction since December 10, 2021, and the market expected the documents to be signed quickly. Romgaz also approved a EUR 325 mln loan to cover part of the acquisition amount.

The Romanian Government is waiting for the conclusion of the Romgaz-ExxonMobil transaction to send the draft Offshore Law to the Parliament. This law is key because it will unblock OMV Petrom’s final investment decision in this project.

Other offshore operators expect changes in the Offshore Law before sending gas to the market.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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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 andrei@romania-insider.com. 

 

Romgaz-ExxonMobil deal delayed until ownership details are settled

The sale of a 50% stake in Neptun Deep Black Sea offshore perimeter between the state-controlled company Romgaz (the buyer) and ExxonMobil (the seller) is temporarily blocked due to a controversy related to the fact that the American company holds the operating license through a vehicle registered in the Bahamas and not in Romania, government sources told Economedia.

At the moment, the two sides are looking for a solution to speed up the EUR 1 bln deal.

Romgaz shareholders had approved the transaction since December 10, 2021, and the market expected the documents to be signed quickly. Romgaz also approved a EUR 325 mln loan to cover part of the acquisition amount.

The Romanian Government is waiting for the conclusion of the Romgaz-ExxonMobil transaction to send the draft Offshore Law to the Parliament. This law is key because it will unblock OMV Petrom’s final investment decision in this project.

Other offshore operators expect changes in the Offshore Law before sending gas to the market.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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