Governmental control over foreign investment in oil industry introduced
27 Feb 2020
On 27 February 2020, the Government Emergency Ordinance amending the Petroleum Law No. 238/2004 entered into force. Under the new law, the National Agency for Mineral Resources is now competent to refuse any concession and execution of oil operations for the exploration, development and exploitation of an oil field to a non-EU entity on national security grounds. In the same vein, any transfer of a concession is only possible after obtaining governmental approval; otherwise it is null and void.
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Type:
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Entry and establishment (Approval and admission)
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Industry:
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Primary (Mining and quarrying)
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Manufacturing (Manufacture of coke and refined petroleum products)
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Sources:
