The contribution of the Oil & Gas Industry to the Romanian Economy – Data collection

Aurel Constantin 12/09/2022 | 13:48

The Oil and Gas Employers’ Federation (FPPG), with the support of the Consilium Policy Advisors Group (CPAG) specialists, announces the beginning of the data collection for the analysis regarding the contribution of the oil and gas industry to the Romanian economy, which is in its second edition. The analysis involves the collection and interpretation of relevant financial data from the oil and gas sector in Romania, which has been and remains a strong contributor to Romania’s economic growth and development.

 

The first edition of this study demonstrated the significant contribution of the oil and natural gas sector, generating 1.8% of GDP in the period 2017-2019, which means approximately half of the contribution of the entire energy sector, 6% of current budget revenues, as well as 1.3% of the budget tax revenues.

The oil and gas industry must manage a wide range of political, financial and social pressures to transition to a low-carbon energy system, while meeting expected long-term global demand for oil and gas – pressure exacerbated by the current geopolitical context. This challenge of simultaneously achieving these goals must be fully understood by all stakeholders and reflected in sector strategies and policies. The study is meant to support an applied dialogue with relevant actors in this sense.

The realization of the second version of the analysis comes to reiterate the overwhelming importance of this sector based on clear arguments, quantifying the indisputable economic benefits of the industry, resulting from the coagulation of data and indicators obtained from the companies participating in the study. This industry is about more than fuel prices at the gas station and gas bills. It also means a contribution to GDP, jobs, investments and significant taxes paid to the state budget.

This analysis will be prepared with the financial and administrative support of the Oil and Gas Employers’ Federation (FPPG) and will reflect the independent assessment of the Consilium Policy Advisors Group (CPAG), under the coordination of Mr. Laurian Lungu – CPAG co-founder.

Thus, we are pleased to invite all companies with activities relevant ( the at least 80% of the turnover ) in the oil and gas sector to access the platform ( https://www.fppg.ro/studiulcpag/ ) where you can find all the information regarding the study methodology, the questionnaire dedicated to data collection, as well as and essential information related to the confidentiality of the use of data received and aggregated by the independent expert during the course of the study.

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