OMV Petrom

Romania's Ombudsman Renate Weber argues that the official title of the institution she is heading - the People's Advocate - is "pompous" and "ill-advised", because it may mislead the public opinion about what the Ombudsman can and should do. "I couldn't tell you why we have chosen this title because by tradition, the institution is indeed called Ombudsman.

The Competent Authority for Regulation of Offshore Oil Operations in the Black Sea (ACROPO) has sent Lukoil Overseas its greenlight so the latter may start oil drilling operations in the Trident perimeter of the Romanian Black Sea territorial waters, according to a Facebook post of the institution. "In accordance with the provisions of Law no.

Right now, in modern circumstances where there are heightened tensions among the global players, for Kazakhstan, the biggest challenge we see is to contribute to the reduction of these tensions among these key-players, Deputy Minister of Foreign Affairs of Kazakhstan Roman Vassilenko told AGERPRES in an interview.

Romanian giant OMV Petrom opened and developed new gas reserves in the southern part of the country. The company probed a new well near its existing Mamu field, at a depth of 4400 m where it found gas and condensate. The new well has already begun production at the end of October, extracting over 190,000 cubic meters of gas per day, the company said, reports money.bg

The Government's intention of capping gas prices is a communist practice up to a point, but necessary, because on this market there is no competition, and companies raise prices as they please, said Thursday, Finance Minister Eugen Teodorovici, present at the White Book of SMEs launch conference.

Romanian energy company Romgaz on Thursday inaugurated Romanian's biggest onshore natural gas deposit in three decades, with Prime Minister Sorin Grindeanu and ruling Social Democrat chief Liviu Dragnea attending, the government announced.

Energy group OMV has launched a case against Romania at the International Court of Arbitration, demanding the reimbursement of environmental clean-up expenses worth 34 million euros which the Austrian group says it is entitled to according to the contract with Bucharest.

Some 1,500 soldiers and over 100 military vehicles from Bulgaria, Georgia, Greece, Moldova, Poland, Turkey, Romania and the US are taking part in the first of two joint military exercises in Romania.

Facing a pressing need to raise cash, the centre-left government of Prime Minister Victor Ponta plans this year and next to list more state-owned companies, mainly from the energy sector, on the Bucharest stock exchange.

The Romanian capital market needs American corporate investors and their global network to get the liquidity and development necessary to attain the status of emerging market, says Bucharest Stock Exchange (BVB) CEO Ludwik Sobolewski.

Photo credit: (c) Grigore POPESCU / AGERPRES ARCHIVE