Black Sea Oil & Gas gets Romania gas project permit but frets over new taxes

05/02/2019 09:10 Natural Gas


Romanian-based Black Sea Oil & Gas received a construction permit from the country’s energy ministry on Friday for an offshore gas project, but it said new taxes could make it hard to go ahead with the development.

The company, controlled by private equity firm Carlyle Group, discovered two wells holding an estimated 10 billion cubic metres of gas in 2008 some 120 kms offshore in the Black Sea.


It hoped to start production by 2020, pending a final investment decision, becoming the first in a line of companies to tap the European Union state’s vast offshore resources.


But Romania’s Social Democrat government approved a slew of taxes via emergency decree in December without an impact assessment or public debate, including a 2-percent tax on turnover for energy firms and a cap on gas prices.


That came on top of other new laws for offshore drilling stipulating that Romanian companies would need to sell at least half their yearly gas output in the country.

BP, Shell among bidders in $800 million Brazilian oil auction

10/10/2019 16:18:00

BP Plc, Chevron Corp and Royal Dutch Shell Plc are among the companies that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.


Poland plans to triple solar energy capacity this year

10/10/2019 13:03:00

Poland, which generates most of its electricity from coal, is planning to triple its solar energy capacity this year, Prime Minister Mateusz Morawiecki told Polish radio on Wednesday.


France awards 576 MW in oversubscribed onshore wind tender

10/10/2019 12:59:00

Projects with a combined capacity of 576 MW were successful in the fourth call of tenders for onshore wind power capacity in France, the government said on Tuesday.