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Romgaz negotiates the acquisition of the whole package for which ExxonMobil owns in the Black Sea


Romgaz, one of the two big gas producers in Romania, negotiates to take over the shares owned by the American giant ExxonMobil with the gas project Neptun Deep in the Black Sea, and the minister of economy, energy and business environment Virgil Popescu stated on Wednesday, in  a press conference, that the gas producer is creditworthy enough to get that acquisition.


‘ At present, Romgaz is negotiating the acquisition of 50% of the whole package owned by Exxon. I said that if the Americans in Exxon want to get out of this investment project, Romgaz is interested to discuss the acquisition of the whole package which Exxon owns in the exploitation of gas in the Black Sea. I think that Romgaz is a strong company, which together with Petrom can exploit equally the gas in the Black Sea (…). Romgaz is a company with a big financial capacity, possibly bigger than Petrom. We should not underestimate Romgaz. (…). Romgaz is sufficiently creditworthy, so that they can acquire and after acquisition to take part in this investment’ stated on Wednesday the minister of economy.


Romgaz registered over the first nine months of the year a net profit  of 941 .9 million lei, less by 20.52% as compared to the similar period of last year, and the business dropped by 23% at 2.91 billion lei. The company has approximately 6,200 employees.


The production of natural gas was 3.19 billion cubic metres, being by 19% and 751.8 million cubic metres under the one registered at nine months 2019.The quantity of electricity produced in the first nine months of 2020 was 617,87 GWh with 111.5% higher (+325,76 GWh) against the similar period of last year.