Rainer Seele, OMV: Austrians play at two ends in the Romanian offshore project Neptune in the Black Sea

Must Read

The Romanian firefighters are present in France to support the French forces who are fighting the climacteric flames

By rbj Two C-17 Globemaster III aircraft from the Multinational Strategic Transport Unit and a C-27J Spartan aircraft of the...

ROCA Industry announces that its subsidiary Bico Industries will take over the majority stake in the Lithuanian company SmartTech AG

By rbj ROCA Industry, the holding company that brings together the construction materials companies in the ROCA Investments portfolio, announces...

Hungarians fear inflation, but also global recession. The opinion of the Central Bank of Budapest. Viktor Orban’s government expects inflation of 20% in 2022

By rbj Inflation could accelerate to around 20 percent in the coming months, said Barnabás Virág, vice president of Bank...

By Edwig Ban
The general manager of the OMV AG Group, Rainer Seele, said on Thursday that the Neptun offshore project in Romania will undergo a new postponement, one of the reasons being the announcement of the American ExxonMobil group to sell the 50% stake in this project, reports the APA news agency.
ExxonMobil and OMV Petrom explore the Neptune deep-sea deposits in the Black Sea, estimated at 42 to 84 billion cubic meters of gas. The two companies have equal shares in the project, and the final investment decision for the extraction of resources has not yet been taken.
Rainer Seele stressed, however, that the sale of ExxonMobil’s shareholding is still in a preliminary stage and no new partners have emerged yet.
“Even OMV Petrom did not inform me, on this subject, if they are interested in taking over this participation,” Seele said.
The head of OMV said that his concerns regarding the existing legal framework in Romania regarding the Neptune project are currently ‘somewhat alleviated’ and that he proceeds from the hypothesis that the final investment decision will be taken within a year of when modifying the offshore law.
So far, $ 1.5 billion has been invested in the Neptune project, half of which is OMV.
Last days, the Romanian Ministry of Economy, Energy and Business Environment initiated a draft ordinance for amending the Oil Law, so that no transfer or sale of shares in oil agreements could no longer be possible without Government approval.
‘The competent authority may refuse, for reasons of national security, the concession and execution of oil operations for the exploration, development and exploitation of an oil field by legal persons who are effectively controlled by third countries of the European Union or by third-country nationals of the European Union. In the case of the oil agreements in force, at the proposal of the competent authority, the Government, for reasons of national security, can approve the termination of the oil agreement ‘, shows the text of the ordinance.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

The Romanian firefighters are present in France to support the French forces who are fighting the climacteric flames

By rbj Two C-17 Globemaster III aircraft from the Multinational Strategic Transport Unit and a C-27J Spartan aircraft of the...

ROCA Industry announces that its subsidiary Bico Industries will take over the majority stake in the Lithuanian company SmartTech AG

By rbj ROCA Industry, the holding company that brings together the construction materials companies in the ROCA Investments portfolio, announces that its subsidiary Bico Industries...

Hungarians fear inflation, but also global recession. The opinion of the Central Bank of Budapest. Viktor Orban’s government expects inflation of 20% in 2022

By rbj Inflation could accelerate to around 20 percent in the coming months, said Barnabás Virág, vice president of Bank Magyar Nemzeti. According to the...

The annual inflation rate stagnates. Will the Central Bank succeed in reaching the target for 2022? The BNR missed the inflation target in the...

By rbj The annual inflation rate in July 2022 compared to July 2021 is 15%, slightly decreasing from 15.1%, and compared to December 2021 it...

Topoloveni plum magic, wins another market in Asia, that of Vietnam, through the Discover European Treasures European program

By rbj "Sonimpex Topoloveni continues its presence at international fairs where it promotes the Romanian gastronomic tradition through the "Topoloveni Magiun din prune" Brand. The...
- Advertisement -

More Articles Like This

- Advertisement -