Sterling Resources calls for force majeure on perimeters leased in the Black Sea

Sterling Resources calls for force majeure on perimeters leased from the Romanian state in the Black Sea after it could not execute oil operations for reasons independent of its will, the company announced in a press release. Sterling claims that governmental authorities do not want to release authorizations for oil extracting activities in the offshore area. Therefore, Sterling sent a notification, considering that the lack of clarity on the procedures applicable and the competency to ...

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