Representatives of oil and gas company OMV Petrom expect Romanian authorities to create a fiscal frame that will be favorable for investments. Otherwise, the company says it will adapt to the situation but will reduce its investments, which will have a negative impact for the whole economy of the country, said Mariana Gheorghe, OMV Petrom’s CEO, quoted by Agerpres.

She said that OMV Petrom representatives will talk to Romanian officials about all the taxes for companies in the oil and gas sector, as the important thing is the cumulated effect of all the taxes that the Government will decide to impose on the companies in the sector, not only the level of the royalties on oil and gas and of the tax on special assets.

She added that the Government’s decision to force all gas producers to sell a part of their production on an official bourse disrupts the market, as there is not enough demand.

Romania’s largest oil company OMV Petrom posts 42% drop in profit in H1

editor@romania-insider.com