• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 15 hours U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 5 hours Socialists want to exorcise the O&G demon by 2030
  • 6 hours Chevron to Boost Spend on Quick-Return Projects
  • 4 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 4 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 55 mins Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 14 hours UK, Stay in EU, Says Tusk
  • 21 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 18 hours Maritime Act of 2020 and pending carbon tax effects
  • 6 hours Conspiracy - Theory versus Reality
  • 1 day Venezuela continues to sink in misery
  • 13 hours Regular Gas dropped to $2.21 per gallon today
  • 21 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"

ROMANIA: Moratorium on Shale Gas Exploration Ended

Bottom Line: Romania has officially ended its moratorium on shale gas exploration, and now it will take 3-5 years to accurately assess the potential here. The game is not over, however, and strong opposition to fracking remains. 

Analysis: The moratorium was scheduled to end in December 2012, but the government was considering whether to extend it. Last week, the final decision was made to end the moratorium indefinitely. Shale gas exploration will begin in Vaslui, in the country’s east, and work its way southward. The moratorium was put in place in May 2012 due to growing public opposition to hydraulic fracturing and related environmental and land-acquisition concerns. Chevron was waiting on this decision to begin exploration for licenses it had earlier been awarded. Chevron will begin exploration in its Barlad concession. Chevron had begun shale gas exploration in 2010 and completed seismic work in 2011, but was forced to halt operations under the moratorium. Chevron now plans to drill an exploration well in Romania during the second half of this year.  

Recommendation: This is not an ideal investment scene. There is too much uncertainly, and the lifting of the shale gas exploration moratorium is not definitive. Opposition remains both in terms of environmental concerns and issues of land reclamation for exploration. The Romanian government remains convinced that if Chevron makes any big discoveries, the necessary environmental permits…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News