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    STUDIA OECONOMICA - Issue no. 1 / 2005  
         
  Article:   FOREIGN CAPITAL IN THE ROMANIAN OIL INDUSTRY. STUDY ON THE PERIOD 1850-1940.

Authors:  FLAVIUS ROVINARU. 		 
       
         
  Abstract:  The Romanian word for black oil, “păcură”, used in documentary sources referring to crude oil exploitations in the Romanian Principalities as early as the 14th century, comes from the Latin word picula. This etymology made some authors consider that oil exploitation on the current territory of Romania started a long time ago, in the times of the Dacians. The oldest documentary evidence regarding the existence of some crude oil wells appeared in Moldova: “on 4 October 1440 a document issued by the chancellor’s office of Princes Iliaş and Ştefan, sons and heirs to the throne of Alexandru cel Bun, mentioned the village of Lăcăceşti on the Tazlăul Sărat, right beside the black oil pool [“păcură” in Romanian ].”  
         
     
         
         
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