• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 5 hours The United States produced more crude oil than any nation, at any time.
  • 10 hours China deletes leaked stats showing plunging birth rate for 2023
  • 5 days Bad news for e-cars keeps coming
  • 12 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Editorial Dept

Editorial Dept

More Info

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 will follow and public…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News