Black Sea Oil and Gas had better sell their output

Blck Sea Oil & Gas, LinkedIn
Black Sea Oil & Gas, LinkedIn

Black Sea Oil and Gas (BSOG), the oil company controlled by the Carlyle Group that started extracting natural gas from its offshore block Midia in mid-2022, in the wake of Russia’s invasion of Ukraine and consequent disputes regarding gas, might be fined for not having sold part of its output under regulated terms according to the emergency ordinance (OUG) 27/2022, said sources familiar with the developments quoted by 

Under OUG 27/2022, natural gas producers are supposed to sell part of their output at the regulated price of RON 150 per MWh. But BSOG says it sealed with Engie Romania an exclusivity contract for all its output well in advance of OUG 27, reports Agerpres.

The fine, if finally taxed, is between 1 and 5% of the turnover.



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