Economy of Europe

WEC's Iancu: Romgaz can support Black Sea offshore drilling investment, should be operator

Romanian gas producer Romgaz has the capacity to support investment in the Neptun Deep deep-water offshore gas field development project in the Black Sea and should be the operator of this project, Chairman of the Romanian National Committee of the World Energy Council Iulian Iancu told a news briefing on Tuesday.

Christos Staikouras in Brussels

The Minister of Finance, Mr. Christos Staikouras, is going to Brussels today, in order to participate in the Eurogroup meeting and a day later in the Ecofin meeting.

At tomorrow 's Eurogroup, Eurozone Finance Ministers will discuss the Eurozone' s fiscal course and prospects, focusing on next year.

FinMin Nazare: Budget measures taken this year - enough to secure adjustment strategy's approval

The budget measures taken this year are enough to secure the European Commission's nod of approval for the adjustment strategy presented in Brussels and the return of the deficit to 3 percent of GDP by 2024, Finance Minister Alexandru Nazare said on Monday at the launch of the Bucharest Stock Exchange - Envisia Boards of Elite partnership dedicated to capital market players.

TurkStream gas flow to halt for annual maintenance

Natural gas flow through both offshore lines of the TurkStream pipeline will be temporarily halted from 22 June until 29 June 2021, for annual maintenance and routine diagnostics, the project company, TurkStream, announced on June 16.

The works will be carried out by South Stream Transport B.V., the operator of the offshore pipeline system.

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.