romgaz

Romania: Romgaz advances deep drilling at Caragele gas field to unlock new resources

In June, Romgaz began drilling operations for the 54 Damianca well in the Caragele gas field, aiming to reach a final depth of 5,100 meters. The project is focused on identifying previously untapped gas resources and analyzing geological formations located beyond 4,000 meters. According to the company, the drilling is progressing on schedule and without […]

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Romania: Romgaz expands into Moldova, aiming to supply up to 30% of gas imports as Neptun Deep production looms

Romanian natural gas producer Romgaz is preparing to expand into the Moldovan energy market, aiming to supply up to 30% of Moldova’s imported gas. The company is in the process of establishing a subsidiary in Moldova to manage these operations. Romgaz CEO Razvan Popescu confirmed that Moldova’s annual gas demand is about 1 billion cubic

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Romania: OMV Petrom and Romgaz advance Neptun Deep project with new exploration well

OMV Petrom and Romgaz, partners in the Neptun Deep offshore gas project, are preparing to drill a new exploration well as part of their concession agreement commitments. The companies have identified two potential drilling locations, both of which will undergo permitting, though only one site will ultimately be selected for operations. The exploration activity represents

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Romania: Fitch assigns Romgaz ‘BBB-‘ Rating

Fitch Ratings has assigned Romanian Romgaz a first-time ‘BBB-‘ Long-term Issuer Default Rating (IDR) with a Stable Outlook. Romgaz’s ‘BBB-‘ rating benefits from a one-notch uplift from its ‘bb+’ Standalone Credit Profile (SCP) for state support, as per our Government-Related Entities (GRE) Rating Criteria. The SCP reflects Romgaz’s dominant position in Romania’s natural gas market,

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Romania: E.ON explores options to sell the Romanian energy supply business

The German utility group E.ON is “exploring the option” of selling the electricity and natural gas supply operations in Romania because the risk-return ratio is deteriorating due to frequent changes in the energy capping scheme, announced Leonhard Birnbaum, E.ON’s CEO, speaking on the occasion of the Eurelectric Power Summit 2024 in Athens on May 21.

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Romania: Fitch assigns Romgaz ‘BBB-‘ Rating

Fitch Ratings has assigned Romanian Romgaz a first-time ‘BBB-‘ Long-term Issuer Default Rating (IDR) with a Stable Outlook. Romgaz’s ‘BBB-‘ rating benefits from a one-notch uplift from its ‘bb+’ Standalone Credit Profile (SCP) for state support, as per our Government-Related Entities (GRE) Rating Criteria. The SCP reflects Romgaz’s dominant position in Romania’s natural gas market,

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Romania: Romgaz prepares 1.5-billion-euro MTN scheme to finance Neptun Deep project

Romania’s natural gas company, with Rothschild Bank as its adviser, hired JP Morgan to lead the consortium of banks that will intermediate the sale of bonds on the foreign market under an MTN scheme aimed to finance the Black Sea gas project, Neptun Deep, local media reported. The MTN scheme would reportedly have a size

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