Exploration & Production

Domestic priorities trump export hopes in SE Europe

A proposed law on offshore production in Romania is the latest example of how countries in Southeast Europe self-sabotage their desire to become regional hubs A proposed law on offshore production in Romania is the latest example of how countries in Southeast Europe self-sabotage their desire to become regional hubs.
By The Wildcat 10 August 2018 0 32110
A field of wells in Romania A field of wells in Romania. (Petrom)

Investment in Romania’s oil and gas sector is under threat following an act passed by the country’s parliament that will impose a windfall tax on Black Sea production. Coupled with domestic market obligations, the move could prevent Romania from achieving its goal of becoming a regional gas hub.

Bucharest has taken a well-trodden path in Southeastern Europe: announce plans to supply gas to the region and then pass legislation that makes such an aspiration almost impossible. Hungary and Croatia recently sabotaged their own...