Economy of Europe

Romgaz, ready to take over offshore drilling project amid unexpectedly high interest of banks

Romgaz is ready to take over ExxonMobil's share in the Neptun Deep Black Sea offshore natural gas project, and funding that will be a mix of equity and raised money, Romgaz Director General Aristotle Jude told a news conference on Tuesday. "On March 31, we submitted an offer to take over ExxonMobil's share in the Neptun Deep block.

ANRM: Romania's interest is in Black Sea natural gas investment to start in 2022, or deposits will devalue

 Romania's interest is for investment in the Neptune Deep field in the Black Sea to start in 2022, otherwise the natural gas there will lose its value, said on Thursday Director of the National Mineral Resources Agency (ANRM) Sorin Gal.

Stournaras expects 5.5 bln from EU funds this year

Advance payments from a European Union recovery fund will finance investments worth 3.3% of the country's gross domestic product (around 5.5 billion euros) this year, Bank of Greece Governor Yannis Stournaras said on Wednesday while also calling on Greek banks to make additional provisions to cover an expected new wave of nonperforming loans.

BVB: Transactions increase by 42pct in Jan-Nov; average daily trading value close to 13 M euros

Liquidity, measured in terms of the average daily trading value, increased by over 42% at the cumulative level of all types of financial instruments and exceeded RON 62 million (EUR 12.86 million) for the first 11 months of the year, according to a report of the Bucharest Stock Exchange (BVB) released on Wednesday.