President Iohannis sent offshore hydrocarbon law back to Parliament – Romania, 2 August 2018

Romanian President Klaus Iohannis has asked the Parliament to re-examine the controversial offshore hydrocarbon law, which sets the rules for offshore oil and gas exploitation in the Black Sea.
President Iohannis said that the draft has to be re-examined by the Parliament from the perspective of the legal stability and predictability on the long term. The law subject to the review should contain clear, unambiguous and sustained provisions so as to provide the necessary framework for the development of the state-investor partnership in order to ensure the necessary predictability and the Romanian economy to benefit in the long term from the exploitation of the natural resources in the Black Sea perimeter.

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