Shipbuilder Vard on Friday launched its first CSOV (Commissioning Service Operations Vessel) hull built by its yard Vard Braila in Romania.The vessel, which will be used to support offshore wind work, is being built for the Norwegian firm Rem Offshore…
A new Black Sea offshore gas platform was officially launched off Romania on Tuesday and plans to extract gas despite risks posed by war in Ukraine, including mines detected in waters nearby.The project by Black Sea Oil & Gas (BSOG), controlled by U…
After years of stalling, Romanian lawmakers approved legislation on Wednesday to reduce taxes on future income from offshore gas projects, hoping it would unlock investment in the Black Sea to extract its sizeable reserves.As Europe grapples with an energy crisis amid the war in Ukraine…
Following Russia's invasion of Ukraine, European countries have escalated efforts to wean themselves off Russian gas. FSRUs increasingly are in demand to fill the gap.Following Russia's invasion of Ukraine, European countries have escalated efforts to wean themselves off Russian gas…
U.S. oil major ExxonMobil has agreed to sell its Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, to Romgaz for more than $1 billion, subject to Romanian government approvals.The deal includes all shares in ExxonMobil…
Romania's OMV Petrom on Wednesday welcomed changes to an offshore gas tax law filed by the government in Bucharest last week as a 'much-needed' step for the development of Black Sea gas.Gas producers have spent 15 years and billions of dollars…
Romanian Prime Minister Nicolae-Ionel Ciucă last Friday, with the other two leaders of the ruling coalition, Marcel Ciolacu and Kelemen Hunor, signed the Offshore Law, aimed at ensuring stability and legislative predictability for oil and gas…
Black Sea-focused oil and gas company Trillion Energy International has signed a definitive offshore drilling services contract with Romanian drilling company GSP Offshore to secure a jack-up rig for its 2022 – 2023 drilling program on its South…
Black Sea Oil & Gas (BSOG) will start extracting gas from its Romanian offshore project in the second quarter, later than planned, its chief executive said, warning that continued efforts to amend regulations for producers were undermining investment…
The kick-off ceremony for the realization of Gastrade SA's LNG FSRU facility in Alexandroupolis, Greece, was held on Tuesday, May 3, 2022, in the old Storage House of the Alexandroupolis Port Customs.Once delivered, the FSRU, with a capacity of 153…
Norwind Offshore, a recently established offshore wind services firm in Norway, has awarded VARD contracts for the design and construction of two additional Commissioning Service Operations Vessels (CSOVs).Norway's Farstad, Volstad, and Kleven in October 2021 teamed up and formed Norwind Offshore…
Austrian energy group OMV will turn the page from its embrace of Russia and could signal a gradual exit from its oil and gas business when it presents its strategy under new Chief Executive Alfred Stern on Wednesday.After Stern took over as CEO last year…
German offshore wind development company wpd offshore has said it has become the first company in Romania to officially apply for the development of offshore wind energy projects in the Black Sea. The Black Sea 1 (500 MW) and Black Sea 2 (approx…
Romania's offshore gas tax that has held up big projects in the Black Sea is set to be revised by the first half of this year after repeated delays, Energy Minister Virgil Popescu said, paving the way for investment.The tax on offshore projects…
Oil prices retreated on Friday after wild swings during the week, as the prospect of extra supply from Iran returning to the market outweighed fears of a possible Russian invasion of Ukraine, which could disrupt supply.Brent crude LCOc1 futures fell 68 cents…
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