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from its power generation business. It has Klaipedos Nafta, which is quoted on the Romania — the vehicle through which
also set a 2050 target date for achieving a net- blue-chip Main List of the Nasdaq Vilnius ExxonMobil group owns 50% in the Neptun
zero carbon footprint. Stock Exchange, and Achemos Grupe holds Deep offshore natural gas perimeter in the
The company aims to become carbon a 10.43% stake. Black Sea.
neutral by 2050. It is also now a major backer On October 5, Romgaz and ExxonMobil
of Poland’s growing offshore wind sector, agreed to extend the exclusivity period
and aims to build 1.2 GW via its SPV Baltic Slovenian energy group from October 15 to November 15. All other
Power unit. It has also sealed a technology clauses of the exclusivity agreement remain
partnership with GE Renewables. Petrol completes €192mn unchanged.
It has also signed a co-operation Romgaz previously announced on
agreement with chemicals group Synthos to acquisition of Croatian fuel September 30 in a note to investors that it
jointly develop and implement zero-emission initiated a non-binding process with a view to
nuclear energy technologies based on micro retailer Crodux obtaining offers for financing of RON1.6bn
and small modular reactors (MMRs and (€320mn), or the equivalent in euros.
SMRs). Slovenian energy group Petrol said on The purpose of the RON1.6bn loan is
Poland is often seen as the dirtiest October 6 it has completed the acquisition “covering a portion of the acquisition of 100%
economy in Europe, with its coal-dominated of 100% of Croatian fuel retailer Crodux in ExxonMobil Exploration and Production
power sector making the country one of Derivati Dva for €191.7mn, after having Romania Holdings Ltd and consolidating its
Europe’s worst polluters. fulfilled all suspensive conditions. own current working capital,” according to the
However, Poland expects to bring down This is Petrol’s largest acquisition in a company’s statement.
the share of energy produced from burning decade and it affirms its position as the Notably, the RON1.6bn exceeds the total
coal and lignite from 70% last year to 11%- second largest provider of oil derivatives in current debts of Romgaz, which amounted to
28% in 2040. Croatia. about RON1.35bn at the end of June 2021. At
That will be possible thanks to massive At the same time, Petrol will assume a the same moment, Romgaz was carrying in its
investments in offshore wind in the late net financial debt of the Croatian company balance sheets bank deposits and government
2020s and in nuclear power in the 2030s. to banks in the amount of €19.2mn, it securities with a total value of over RON3.2bn.
Poland plans to gradually retire coal-fired said in a filing with the Ljubljana Stock The financing contract will be completed,
power generation installations, replacing Exchange. however, only after the negotiations with
them with large-scale offshore wind and The purchase and refinancing of the Exxon are completed, it is approved by
large nuclear reactors. Poland’s long-term assumed debts will be financed with an Romgaz shareholders and endorsed by
energy strategy assumes the development of international syndicated loan of €200mn. shareholders.
up to 9 GW of nuclear power by the mid- The transaction will be completed with On June 17, the parties signed an
2040s. The first reactor is planned to go the integration of Crodux Derivati Dva exclusivity agreement by which the seller
online in 2033.. into the Petrol Group, which is expected by has granted Romgaz an exclusive right for
the end of 2022. a period of four months until October 15,
With 93 new points of sale it is the with respect to the negotiations for the
Lithuania’s KN posts 25% greatest one-off increase in the number acquisition of all shares issued by ExxonMobil
of points of sale in Petrol Group’s history.
Exploration and Production Romania,
drop in nine-month revenue With a total of 204 points of sale, Petrol company that holds 50% of the rights and
obligations under the Concession Agreement
Group’s market share in Croatia will
to €44mn increase from 13% to 23%, Petrol said. for petroleum exploration, development and
production in XIX Neptun Deep Block.
In Southeast Europe, Petrol Group will
Lithuania’s state-run oil product and now have a total of 594 points-of-sale.
liquefied natural gas (LNG) terminals Crodux Derivati Dva’s Ebitda for 2021 is
operator Klaipedos Nafta (KN) announced estimated at €37mn. Maersk Drilling secures
on October 7 it saw its revenue for The acquisition of Crodux Derivati Dva
January-September fall by 24.8% y/y to is in line with Petrol Group’s strategy for right to all drilling work on
€44mn. 2021-2025, which foresees that the retail
Monthly revenue for September network will include 627 modern points Greensand carbon storage
dropped by 25% from a year earlier to of sale providing a comprehensive range
€4.8mn, the company said in a statement of on-the-go products and services to project
to the Nasdaq Vilnius Stock Exchange. customers. .
Revenue from Klaipedos Nafta’s oil Maersk Drilling joined the consortium
handling operations slumped down by back in June 2020 and the agreement is an
34.9% in the nine months y/y to €15.5mn, Romgaz, ExxonMobil to extension of its commitment to participating
with revenue for September alone down by in Phase 2 of the Greensand project, the rig
46.2% to €1.4mn. continue talks on sale of owner said on October 14.
The LNG terminal’s revenue declined The agreement confirms Maersk Drilling
by 18.7% to €26.6mn in the nine months Black Sea offshore block as the preferred contractor with a right to
y/y and by 11.1% to €3.2mn in September all drilling rig work involved in Project
alone. for another month Greensand on market-rate terms until the
“Lower revenue was affected by both end of 2027 and it is subject to the project
lower regasification volumes, compared Romanian state-controlled natural gas obtaining the necessary funding and final
to the same period last year, and company Romgaz announced the extension investment decision.
proportionate reduction of the security of the exclusivity agreement related to the Project Greensand is the most mature
supplement in 2021,” the company said. negotiation of the acquisition of 100% of carbon capture and storage project inside
The state owns 72.47% of shares in ExxonMobil Exploration and Production Danish jurisdiction and targets the

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