The regime governing upstream oil and gas development in Romania

摘要

Romania has a long history of oil and gas production and is a proven oil province. The country's close vicinity to refining infrastructure, proximity to a deep water port and easy access to the European market make it an attractive location for oil and gas production. In addition, it also has a comparatively low cost basis in terms of labour and infrastructure, as well as one of the most competitive company tax rates in the region (16 per cent flat rate), which further drives its appeal.rnIn recent years, Romania has moved towards becoming a more transparent, investor-friendly and stable democratic country. It has so far avoided the gaze of the major oil and gas companies but this seems likely to change.