| Excerpt |
Romanian oil industry has gone through significant changes over the XIX and XX centuries. With the development of internal combustion engine, oil has become increasingly important. The great powers compete in the conquest of new oil fields after the World War I. Romania with significant oil fields, attracted the attention of major powers, like United Kingdom, France or USA who wanted to obtain oil fields in the Romanian Kingdom. The evolution of petroleum industry is related to foreign capitals invested by western countries. There were times when the Romanian political class wanted a restriction for foreign capital, and the Mining Law from 1924 tried to give priority to Romanian capital. But the great powers were against the law from the beginning. |
