The continuous drop in the price of a barrel of oil at the lowest prices in 13 years not only affects the energy sector itself, but has repercussions in other strategic sectors as well, sectors that are major employers. Exporters of industrial products, like the oil operators, slow down their activity and investment, with negative effects on hundreds of thousands of employees.

“We are afraid of what could happen by maintaining excessive taxation in the oil and gas domain. Investors are pondering about the return on their investments, and analyze how much time will they keep the shop open”, said Daniel Apostol, Secretary General of ROPEPCA petroleum association, in an intervention at Digi 24 TV station.

Meanwhile, the Romanian government proposes a 45% tax on profit obtained from oil production.

Negative effects may feel as stressing in Romania as elsewhere; here, more than 100,000 jobs depend on the existence of oil and gas industry. In addition, the automotive sector, which is the top exporter of Romania, will go through a period where there will be a lower demand for components, since large clients, mainly German companies, have deteriorating stock quotations. Now the cost of producing a barrel of oil in Romania is 40 dollars, higher than the selling price.