Black Sea Oil and Gas may be fined in Romania for failure to sell part of gas on the regulated market

Black Sea Oil and Gas (BSOG), the oil company controlled by Carlyle investment fund that started extracting natural gas from its offshore block Midia in mid-2022, 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 Economica.net.

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.

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

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