The royalties owed by mining companies for the mineral resources extracted in Romania would increase to 6%, up from 2% currently, according to a draft ordinance of the finance ministry. The oil and gas handling operations, would be charged 15% royalty from 10% currently. The changes aim to better reflect the depletion of natural resources. The bill mainly concentrates on Fiscal Code, but it also amends the specific mineral resources legislation namely law 85/2003 (the mining law) and law 238/2004 (the oil law). Gas storage would be charged 5% against 3% currently. The royalties for the oil and gas extraction cannot be increased sooner than 2014, according to the privatisation law of oil company Petrom. |
Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more
Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more