The Romanian Oil, Energy and Gas Federation – FEDE P.E.G, debates the existing problems on the energy market in 2011-03-23

16.03.2011 - 15:33:00

March 15th 2011, Bucharest, 11:00 AM. In the UGIR-1903 Palace the meeting of The Romanian Oil, Energy and Gas Federation – FEDE P.E.G, took place, having as main debate theme the situation of the national natural reserves. The participants analyzed the perspectives for 2011 and the possible solutions which can be assumed in the present context. Having in mind the foreign perspectives on the Romanian natural reserves situation, the stakes of foreign investors, like the American company Hunt Oil as well as the effect of these investments on the Romania energy market were brought into discussion. According to the statistics of the British BP report, Romania has oil reserves for the next 14 years, the natural gas situation being slightly more optimistic. Regarding this aspect Romania has 0.3% (630 billion cubic meters) of the planet’s resources, sufficient for the next 57 years.

Sequel to winning the tenth round of leases, organized by the Romanian National Resource Agency (ANRM), important companies on the oil, gas and energy market will expand their areas of exploitation in 2011, which will positively influence the situation of the energy resources on a national level.

These aspects as well as a series of debates on the subject of natural resources and the improvement of the oil, gas and energy market will continue to be in the attention of the FEDE P.E.G members.

FEDE P.E.G extends an invitation to all the organizations activating in the energy resource field to build together a common national perspective in an European context.

"This is a year which should determine the Romanian decision making authorities to look closely and carefully and to resolve the problems with which the Romanian energy is struggling”, stated Mircea Vescan, President of FEDE P.E.G


Armax Gaz

Marketing and Communication Department, Bucharest

March 16th 2011

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