Romania’s oil & gas royalty revenues reach EUR 130 mln in first half

The Romanian state cashed in EUR 130 million worth of royalties, in the first half of this year, from oil & gas extracting companies. The value of royalties was 15% bigger compared to the same period of 2013, according to data from Romania’s mineral resources agency ANRM, quoted by Economica.net. Royalties for gas exploitations increased by almost 38%, to almost EUR 72 million, while royalties for oil extraction declined by 7%, to EUR 56.7 million. The largest royalty payers were OMV Petrom, which paid some EUR 94 million, and state-owned Romgaz, with about EUR 32 million. The royalties for oil & gas exploitations are between 3.5% and 13.5% of the gross quantities extracted, and are calculated for each oil or gas deposit depending on its production. The Romanian Government postponed taking a decision on the new royalties for the oil & gas sector for next year. editor@romania-insider.com