Europe’s upstream segment has two main challenges – environment-related long-term objectives that gradually narrow down oil companies’ maneuvering ability in terms of where/what they can drill and deficit-ridden governments trying to squeeze as much out of their domestic production as it can get. Whilst most of Western Europe, with its shale drilling bans and forced production phase-outs, gradually started to tilt towards the first variant, Romania is one of the rare examples for the latter option. It would seem that with its…
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