OMV’s new CEO meets Romanian President for talk on royalties

Romania’s President Klaus Iohannis yesterday met Reiner Seele, the new CEO of Austrian OMV group, which controls the second-largest company by turnover in Romania, OMV Petrom. The OMV executive presented Iohannis the group’s activity and the priorities for the following period, as well as the gas and oil market perspectives for 2016. An important topic on the meeting’s agenda was the future tax system for energy and natural resources in Romania. Both sides emphasized the need for fiscal predictability and a stimulating and mutually beneficial tax frame, according to the Romanian Presidency. Prime Minister Dacian Ciolos also referred to the new royalties for oil and gas companies yesterday, saying that the tax level should not discourage the companies in the sector from making investments. He said he wished to at least bring the new royalty draft project into public debate. editor@romania-insider.com (photo source: presidency.ro)