Romania Needs Gradual Price Hike Plan, To Avoid Crisis– Oil Co Petrom

"Without a gradual alignment strategy, Romania will not be able to avoid a major crisis determined by a sudden gas tariff hike," she said in a speech prepared for Monday’s hearings at the Commission for Services and Industry.

In addition, the authorities must take into consideration the social gas fund, in which Petrom has already transferred 36 million lei (EUR1=RON3.6475) of the total RON80 million it engaged to assure for 2008. The money comes from Petrom’s additional revenue, obtained due to the 5% price hike on local gas, on February 1.

Petrom’s crude oil reserves will end in the next 15 to 20 years, due to the lack of massive investments.

Petrom is willing to discuss with the gas companies and the government officials about the price of natural gas obtained from the local production, Gheorghe said. 

The Committee for Industry in the Chamber of Deputies will investigate last years’ price rise on household natural gas and electricity, the tariffs, the impact of the setting up of the integrated energy holding, and will verify the requests of the economic operators in energy sector.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.