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Development Of Petroleum Industry In Romania In The Period Of Controlled Economy (1948-1989)

Author

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  • BULEARCĂ, Marius

    (Centre for Industry and Services Economics, Romanian Academy, Bucharest, Romania)

Abstract

The development of the Romanian oil industry covers a relatively short period of only 160 years, but the interest that oil had produced has been and still remains enormous. The Nationalization of the Romanian and foreign oil companies from June 11, 1948, made the first step towards the absolute management and control of the Romanian oil industry, the clear signal of Romania's political and economic isolation, with all its consequences, at least until 1964. However, the numerous international cooperation projects, spread in many countries all over the world, took various forms, involved many Romanian specialists and totalled billions of dollars, amounts with which the oil industry contributed to the economic development of Romania between 1948 and 1989.

Suggested Citation

  • BULEARCĂ, Marius, 2019. "Development Of Petroleum Industry In Romania In The Period Of Controlled Economy (1948-1989)," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 7(1), pages 141-147, October.
    • Handle: RePEc:vls:rojfme:v:7:y:2019:i:1:p:141-147
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    JEL classification:

    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources
    • N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law

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