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.

[email protected]

ri-logo

Want to be up to speed with what's happening in Romania? We'll send your first batch of news for the day directly to your inbox.

Subscribe to our mailing list