Romania softens tone on new royalties regime
Romania has proposed a softer regime on state royalties from oil and gas revenues than many in the industry had feared Romania has proposed a softer regime on state royalties from oil and gas revenues than many in the industry had feared.
2 November 2017
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Exploration in the Black Sea, offshore Romania.(Petrom)
The Romanian government has softened its stance on the new royalties regime for its hydrocarbons sector in an apparent move to secure future investment in its Black Sea prospects.
Romania’s draft royalties law was put up for public debate on 23 October, after which stakeholders were given 10 calendar days to comment. The law proposes that royalties for existing oil and gas projects remain the same as before. The rates will also stay the same for new onshore projects, albeit with a different calculation method to...
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