FPPG: Recovery of the oil and gas sector, a joint effort of the state and industry

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The oil and gas industry recognizes the shared responsibility in managing the health crisis and is ready to contribute in a constructive way. In this regard, the Federation of Employers of Oil and Gas (FPPG) brings to public attention the economic recovery measures transmitted to the central authorities.

Immediate and short-term measures aim at urgently amending the Labor Code (including Kurzarbeit), liberalizing the natural gas market and eliminating additional taxation, digitalizing the oil and gas industry, amending the Energy Law (123/2012), an attractive regulatory framework for CNG and LNG and infrastructure development by creating a central storage entity for petroleum products in order to ensure and comply with the EU obligation, the Federation said.

“Medium- and long-term actions focus largely on economic recovery through large-scale projects, such as the Black Sea.

Competitive fiscal terms and market conditions, schemes to reduce royalties and specific taxes, access to EU funds, and access to more advantageous credit are necessary for oil and gas producers to at least maintain the current level of production, to continue the operations started for all the currently exploited areas, as well as of the mature fields and to maintain at the same time the current level of employment,” it is shown in the FPPG release.

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