Virgil Popescu: Low oil prices could endanger the functioning of the oil and gas industry


The oil and gas industry is also hit by the current crisis, and very low oil prices may jeopardize the functioning of this sector, said Economy, Energy and Business Environment Minister Virgil Popescu, who underlined that, for the time being, in Romania there are no problems.

“There is another industry and maybe the world does not understand. Also the oil and gas industry is an affected industry. It functions, it provides energy to Romania, it ensures gas consumption of Romania, but the very low prices of crude oil, at international quotations, can practically endanger the functioning of this industry. The consumption has decreased very much in Romania,” Popescu told Antena 3, according to Agerpres.

He pointed out that fuel consumption has been greatly reduced, and refineries are running out of stock, but at one point they could be stopped because they run out of storage.


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