Romania and the Russian Federation have a rich history of crude oil extraction, being among the countries that have opened new energy pathways. Although on the territory of these two countries oil was produced for commercial purposes for the first time in the mid-nineteenth century, it began to be used long time before. For more than 150 years, the “black gold” has become more and more valuable. The petroleum industry is now an essential pillar of the economy of Romania and Russia. This sector generates wellness, creates well-paid jobs, invests in infrastructure modernization, imports technology and know-how.