Romania

The Energy Minister of Romania, Bogdan Ivan, said that three companies are interested in purchasing the Romanian assets owned by Russian Lukoil. They have been negotiating with the company directly. Lukoil operates 320 petrol stations across Romania. It is the third-largest refinery in the country and has offshore exploration rights to a part of the Black Sea. Ivan, a journalist for the online publication profit.ro, was quoted by the publication as saying: "At this moment, three companies have expressed an interest in acquiring Lukoil Romanian assets - both the refinery, and the petrol stations. They are currently negotiating with the...

The Energy Minister Bogdan Bogdan Ivan stated on Tuesday that Romania must control the Romanian subsidiary of Russian Lukoil in order to protect jobs, enforce international sanctions, and ensure a stable national energy system. Lukoil operates 320 petrol stations across Romania, is the third-largest refinery in the country and has offshore exploration rights for a part of the Black Sea. Ivan didn't elaborate on which assets or how the state should take control. The U.S. imposed sanctions on Lukoil and Rosneft in connection with the war that has raged for more than three-and-a-half years in Ukraine. These sanctions will take...

The Kurier reported that the Austrian oil and gas group OMV will cut 2,000 jobs from its worldwide workforce of 23,000. In a Friday statement, the company stated that "competitiveness" of the group may require adjustments. It did not exclude what they called personnel measures. OMV said that details of its plans will be announced once internal consultations are completed. In a report that was published Thursday evening, the newspaper cited staff unions to say that the Romanian subsidiary Petrom of the company would be particularly affected. Cuts were also planned for its refinery in Germany's south and Slovakia's. Borealis...

The Austrian energy company OMV said that the Borouge-Borealis merge will have a positive impact of 120 million euro ($140.8) on its operating result for the second quarter before special effects. This was part of an update to trading on Tuesday. After almost two years of negotiation, Abu Dhabi National Oil Company and OMV decided in March to combine their polyolefin business to create Borouge Group, a chemicals powerhouse with a $60 Billion enterprise value. OMV said that it also expected to take a 400-million-euro hit on its operating cash flow adjusted from Romania and Norway, compared with the first...

Bloomberg News reported Wednesday that Saudi Aramco was evaluating a possible offer for the Castrol lubricants division of oil giant BP. The report was based on people familiar with the matter. According to a report, the Saudi Arabian state oil company is evaluating whether it should bid on part or the entire business that operates under the Castrol name. Aramco is still deliberating and has not made a decision about the structure of the bid. A BP spokesperson refused to comment, while Aramco didn't immediately respond to a request for comment. BP is exploring all possible options for its Castrol...

Bloomberg News, citing sources familiar with the situation, reported Tuesday that oil major BP was considering a possible sale of its lubricants division, Castrol. The deal could be worth $10 billion. The report stated that BP was considering a sale of its business. It also said that Elliott Management had identified the unit as a potential asset for disposal. Elliott declined to make a comment, and BP didn't immediately respond to a comment request. The report last week stated that Elliott was pushing the oil company, after acquiring a 5% stake in it, to take radical actions to transform its...

OMV is affected by U.S. Tariffs in some areas, but its exposure to North America in relatively low. CFO Reinhard Fleery said this on Tuesday in a conference call after the Austrian Oil and Gas firm's results. He added, "However this exposure includes activities in the USA themselves and...this means tariffs don't go there because they operate on the domestic market directly." Donald Trump, the U.S. president, suspended his threat to impose steep tariffs against Mexico and Canada, on Monday. He agreed to a 30 day pause in exchange for concessions made by both countries on border enforcement and criminal...

Oil production at Libya's Sharara field, among the nation's largest production areas has actually been lowered by 60,000 barrels a day, or about 20% of its capacity, due to continuous protests in the area, 2 field engineers stated on Monday. The field located in southwestern Libya and operated by a. joint endeavor of Libya's state company National Oil Corporation. ( NOC) with Spain's Repsol, France's TotalEnergies. , Austria's OMV and Norway's. Equinor has actually been a frequent target of local. protesters. We expect a change at any moment, either a return to complete. production or a full shutdown, one of...

Austrian oil and gas group OMV reported a secondquarter changed operating result listed below expectations on Wednesday, weighed down by a lower earnings in its energy company. The Vienna-based business said its operating earnings, adjusted to get rid of one-off impacts and inventory gains or losses, rose 4%. to 1.23 billion euros ($ 1.33 billion) in the quarter, 4.5% below. the typical price quote of 1.29 billion euros in a company-provided. survey of experts. OMV warned earlier this month that the energy department, its. greatest by revenues, had actually been struck by legislative changes in. Romania throughout the second quarter....

An objective by Youri Tielemans after 73 seconds and a late one for Kevin De Bruyne gave Belgium a 20 win over Romania in an incredible, actionpacked game on Saturday that set up a last round face-off with all four groups in Group E on three points. It was a Euro 2024 Saturday night special played in an impressive atmosphere in Cologne, with the only secret being how there were only two objectives. It suggested that, for the very first time in European Champion history, all four teams in a group are on equal points after two rounds, following Ukraine's...

Austrian energy group OMV raised its 2030 revenues and cashflow assistance during its capital markets day on Thursday, mentioning a more favorable market environment for oil, gas and refining margins. OMV is now targeting a tidy CCS operating result, which leaves out one-off products along with short-term energy inventory holding gains and losses, of a minimum of 6.5 billion euros ($ 7.03. billion) by 2030, compared to a goal of 6 billion euros. formerly. It also raised its projection for operating cash flow to at. least 7.5 billion euros, up from 7 billion euros previously,. partly assisted by a performance...

The following quotes, mergers, acquisitions and disposals were reported by 1945 GMT on Tuesday: ** Hess investors authorized the company's $53. billion merger with No. 2 U.S. oil business Chevron,. according to preliminary outcomes of the vote. ** BHP was struggling to find commonalities with. Anglo American in talks over its takeover deal, without any. brand-new concessions as a deadline nears for the world's biggest. miner to send a binding deal, 5 sources stated. ** Royal Mail's moms and dad business International Distributions. Services (IDS) is set to advise a company offer by. Czech billionaire Daniel Kretinsky, a person with...

Nuclearelectrica, a state-owned Romanian nuclear power company, announced on Thursday that it had made a decision to invest in a small modular plant. This could be the first project in Europe using this technology. The project in central Romania, Doicesti, is to have six reactors with a capacity total of 460MW. It will be using technology from the U.S. NuScale Power. Romanian Nuclearelectrica holds a 50% stake in the joint-venture. The first reactor is the final investment decision, and the other five are dependent on the success of the technology. The original deadline of 2029 for the finalization of the...

Ukraine prepares record electrical power imports from five European countries on Monday after reporting considerable energy infrastructure damage from Russian strikes, the energy ministry stated. Imports are expected to rise to 19,484 megawatt hours (Mwh),. beating the record of 18,649 Mwh at the end of March after the. Wave of Russian attacks on Ukraine's energy sector. The power system has been experiencing a substantial. electrical power shortage for most of the day, national power grid. operator Ukrenergo said on the Telegram messaging app. The factor for this is massive damage to Ukrainian. power plants, which means they can not produce...

Ukraine might deal with a boost in electricity lacks this summertime triggered by current Russian attacks on power stations in the middle of increasing usage and a repair campaign at nuclear reactor, the head of the country's grid operator said on Friday. Considering that late March, the Ukrainian energy sector has actually been the target of massive Russian rocket and drone attacks, triggering blackouts in lots of areas and raising the problem of decentralisation of producing capacity. We will certainly deal with obstacles in the summer season and these obstacles will be mainly related to capability scarcities due to damage...