Christina Verchere (OMV Petrom): Key requirements for Black Sea development not yet in place

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Christina Verchere (OMV Petrom): Key requirements for Black Sea development not yet in place

Christina Verchere, the CEO of Romanian oil & gas group OMV-Petrom, told Reuters that the key requirements for the company’s Black Sea offshore development are not yet in place.

The Romanian government’s new rules say that energy firms, except state-owned coal-fired power plants, will pay a 2 percent turnover tax, while producers will sell gas for household at capped prices until 2022. The price cap was removed for industrial consumers.

“We believe that dialogue can get us closer to a solution and this dialogue must continue,” said Verchere in an email to Reuters. She added that the amendments passed by the government to Emergency Ordinance 114 “answer some of the concerns expressed by the oil & gas industry and represent a step for returning to a liberalized gas market. This process should continue.”

The post Christina Verchere (OMV Petrom): Key requirements for Black Sea development not yet in place appeared first on Business Review.

Christina Verchere (OMV Petrom): Key requirements for Black Sea development not yet in place

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