Chevron leaves Romania

Romanian flag painted on a wooden pawn
Source: DollarPhotoClub

Following its departure from Poland, U.S. giant Chevron announced on Friday that it is abandoning its shale concessions in Romania.

Last year Chevron terminated shale-gas agreements in Lithuania and Ukraine, although the company still keeps an office in Kiev.

“That leaves Romania, where we are in the process of relinquishing our concession interests,” a Chevron spokesman said.

Chevron did not give reasons for its decision to cease exploration in Romania. It might have something to do with the statement made by Romanian Prime Minister Victor Ponta in November last year. At the time the PM announced that despite initial estimates by the Energy Information Agency (EIA), which put the country’s technically recoverable shale gas resources at 51 trillion cubic feet (Tcf), Romania has no shale gas to speak of.

Shale gas never gained acceptance among the Romanian people, with anti-fracking protests staged in North-East Romania and at the Chevron exploration sites in the villages of Urdes and Pungesti in Vaslui county.

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