Romania is one of the four biggest hydrocarbon-producing countries in Europe, said Stephen Birrell, President of ROPEPCA, at the Energy Strategy Summit 2020. ROPEPCA members invested over 5.5 billion euros in Romania between 2014 and 2019 and generated a budget contribution of 11.8 billion euros, said Birrell, stressing that these companies are responsible for 14,000 jobs in the industry.
“The International Energy Agency – IEA estimates that by 2050 global energy demand will increase by 50%. And hydrocarbons, especially oil and gas, will cover 49% of demand. Currently, Romania imports 12.5% of gas consumption and 87% of oil. We need, in Romania, investments to support the economy and to produce and provide support for energy security. ROPEPCA presented a plan of measures and investments to the Government and Parliament of Romania, highlighting the need for legislative and fiscal stability, a modernization of the legislative framework, a long-term vision, less bureaucratic operations, transparency of documentation including declassification, communication between us and the other parties involved. We need to restart the economy, which means investments, either local or international, and for this we need openness to business,” he said.
“We need to return to liberal markets mechanisms and a free market so that we can operate within a level playing field. We need liberalization, free markets, we need digitalization, less bureaucracy and to work together with the government to restart the economy, after this crisis generated by Covid-19 “, he added.