Petroleum, its extraction, wealth and employment: the new norms

The Decree “Unlock Italy” finally deems to address the issue on red tape which has for long crippled the activities of petroleum-extraction in Italy. Paragragh 71 of the Decree would in fact bring complete changes to the market in three main points: a) issuing of a single “grant”, i.e. one single permission that authorises the exploration and extraction of the mineral; b a mining permission to be granted by the central government and no longer by the regions; c) allocation to research and cultivation of hydrocarbons: for “ public benefit. Activities deemed urgent and which can no longer be kept back. “

The vision of Renzi’s government appears to be of significant importance for the socio-economic, development and employment issue in Italy.Italian territory is rich in oil fields such as in Val d’Agri in the region of Basilicata, where there ares the largest soil-deposits in Europe. There are relevant deposits in the Adriatic Sea, and regions of Abruzzo, Piemonte, Veneto, Lombardy. “Despite the enormous wealth, mining activities in Italy have been paralize d for almost a decade”, as Assomineraria (Italian Mining Association) has claimed.

This has been due to unarticulate regulations governing the emission of authorisations; the decree, “Unlock Italy” finally comes as a breath of fresh air. In 2013 alone, oil companies have paid 398m Euros in royalties and roughly 1.250m Euros in state-taxes for a total of 1.648b Euros. Contribution should grow in proportion to the doubling of output bringing enormous benefit in the development of our country.

As far as the decrees are concerned, regions will be expected to file an appeal to the Constitutional Court against the changed regulations, considering them a violation of their duties. The very nature of the energy policy which is of a “national interest” should avert the possible risk of the Court’s ruling endorsing an “organisational disorder” which would prove to be a fatal handicap for our economy.

 Traduzione: Marina Stronati