Pipes for the Midia Gas Infrastructure project in port
Clock ticks on Romgaz Black Sea deal
The state-owned firm has just over three weeks left on an exclusivity agreement for a transaction key to unlocking Romania’s offshore potential
A four-month exclusivity clause on the offer by Romania’s Romgaz to purchase ExxonMobil’s E&P business in the country, which includes a 50pc stake in the undeveloped offshore Neptun Deep discovery, will expire on 15 October. The deal could be pivotal to the change of a law that has retarded offshore development in the southeast European state. Romgaz and the US major struck the agreement in mid-June after an April offer by the state-owned gas firm for ExxonMobil’s Neptun Deep stake. The firm’s government owner has been a keen supporter of bringing these gas reserves into Romanian hands, according to consultancy Rystad Energy, as doing so offers greater domestic control of a project that
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
