The Romanian Chamber of Deputies adopted the offshore hydrocarbon law, which sets the rules for offshore oil and gas exploitation in the Black Sea.
The law imposes progressive taxes on operators for additional incomes from the sale of gas produced in the Black Sea, applied depending on the price of gas. It also provides that 50 % of all production needs to be sold on the local market.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: Black Sea, ExxonMobil, gas, hydrocarbon, legislation, offshore, oil, OMV Petrom, Romania