OMV Petrom calls for Romanian fiscal stability
New deepwater gas play needs greater clarity on terms
OMV Petrom, the Romanian independent 51pc owned by Austria's OMV, believes Romania could develop into Europe's third-largest gas producer and a significant exporter into central and eastern Europe (CEE) and beyond. But board member Franck Neel cautions that a stable fiscal regime is key to making progress on developing the Neptun Deep discovery in the country's deepwater offshore, in which OMV is an equal partner with operator ExxonMobil. "For such a big investment, you need to know what the tax level is," he told Petroleum Economist at the Flame gas conference in Amsterdam in May. The recent signs have not been particularly promising. The country had been making progress towards a more libe
Also in this section
13 March 2025
Gas will become a more important part of the energy mix longer-term raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
12 March 2025
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek
