Romania must reclaim prize energy assets from foreign investors, presidential favorite says

BRUSSELS — Nationalist presidential front-runner George Simion said on Thursday that Romania should reclaim the country's prize energy assets from foreign investors — a call that could play well with voters but risks roiling the country's already delicate economic outlook.

Ahead of Sunday's closely watched election, Simion said he wanted to resume control over Petrom, the country's energy giant that is currently majority-owned by Austria's OMV. This would mean taking over gas stations and the large Petrobrazi refinery. Simion also voiced annoyance over what he saw as OMV's slow development of Black Sea natural gas reserves.

Channeling U.S. President Donald Trump's MAGA movement, Simion told POLITICO: "We have the biggest quantities of oil and natural gas from all countries inside the European Union. And I'm a candidate on a 'Romania First' ticket. And my stance is very clear, to use the natural resources we have to develop the economy."

Simion's electoral gambit is to tap into anger among Romanians about the privatization of key industries after the fall of Communism. Many complain that the crown jewels across the country's economy were sold off too cheaply to businesses connected to the former security services.

The 38-year-old founder of the hard-right Alliance for the Union of Romanians said the privatizations had been "very bad" and left ordinary people "frustrated."

The risk for Simion, however, is that investors could quickly turn hostile, withdraw funds and undermine the country's economy if they feel Romania is no longer a safe place to do business.

Addressing this potential fallout, Simion insisted Bucharest would strike a deal at a fair price to buy out OMV. "We will respect fully our commitments in our international alliance in foreign trade. So you can do this actually in an international economy, with paying the right cost through negotiations to the company," he said.

He added he had held talks with representatives of OMV and insisted the firm was "interested in selling the refinery and the gas stations" it operates in Romania.

The right-winger also complained about the Austrian company's Black Sea operations. "As you well know, we have onshore gas and offshore gas, and the offshore gas should have been exploited by OMV, they are delaying this and this is a security issue for us and the whole Europe."

OMV did not immediately respond to a request for comment on Simion's plans.

POLITICO's Poll of Polls estimates that Simion has the support of around 49 percent of voters ahead of a second-round runoff election against centrist rival Nicușor Dan, on 46 percent.

While Romania has spent the past three decades trying to attract foreign investment from across Europe, Simion and his ally — banned presidential candidate Călin Georgescu — are striking a more nationalist tone.

Georgescu, potentially a prime minister in a Simion administration, also took a shot at the role of foreign multinationals in his presidential campaign last year.