Tag: royalties

Oil royalties paid by OMV Petrom increased by 4 % due to new regulations – Romania, 02 August 2019

CFO of Romanian oil and gas company OMV Petrom Alina Popa said that the oil royalties paid by the company increased by about 4 % as a result of a new regulations published in May, linking the reference price to Brent oil, with some quality adjustments. Regarding the reference price for natural ga Full article […]

Romanian companies to pay royalties according to Brent barrel on LSE – Romania, 10 May 2019

According to an order of the National Agency for Mineral Resources (ANRM) published in the Official Gazette, companies that extract oil in Romania will pay royalties to the state budget according to the Brent barrel quotation on the London Stock Exchange (LSE). The order states that it is conside Full article available for subscribers of […]

Taxation in the upstream sector double than the EU average – Romania, 3 April 2018

The Romanian Petroleum Exploration and Production Companies Association (ROPEPCA) presented an annual analysis made by Deloitte experts on the development of effective taxation applied to oil and gas industry in Romania. The study shows that the average taxation of oil and gas industry (royalties level and other taxes) has increased in the 2014-2016 period from […]