The purpose of this analysis has been to quantify the impact of the oil & gas industry on the Romanian economy, in terms of its contribution to GDP, employment, investments and taxes paid. Given the “technology neutrality” option Romania has in meeting the 2030 climate targets, the results of the study could subsequently be used to aid policy design in the domestic oil and gas sector over the next decade. The results show that, despite the gradual decreasing importance of the oil & gas industry in the economy, the sector still remains an important contributor to Romania’s GDP growth. Oil & gas sector represents around 1.7% of GDP, almost half of the whole energy sector. And, the total impact on the oil & gas sector in the economy (i.e., including direct, indirect and induced effects) is large, averaging 5.5% of GDP over the last three years.