GEO that prevents Exxon from selling its Black Sea shares needs CSAT approval


One of the 25 Emergency Ordinances approved last week concerns the changes brought to the Oil Law. But this has not yet been published in the Official Gazette because it needs the opinion of the Supreme Council of the Defense of the Country (CSAT), according to The GEO was approved with the mention that this opinion must be obtained.

According to the draft GEO, the Romanian authorities will be able to refuse, for reasons of national security, the concession and execution of oil operations for exploration, development and exploitation of an oil field by legal persons who are effectively controlled by third countries outside the European Union.

As it refers to national security, the CSAT opinion is required, according to the observations of the Ministry of Justice.


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