Draft bill on royalties – on public debate

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The Economy Ministry has submitted the new draft bill on royalties for mineral, oil and hidro-mineral resources on public debate. According to the draft, there will be only one legal framework regulating all royalties, hotnews.ro informs.

The royalties on oil, expected for the past three years, will not see many changes against the current regulations. For the oil and gas onshore production the royalties remain unchanged. For offshore exploitations (the Black Sea ones) the royalty will include a fix quota and a variable quota, according to the volume of oil and gas. Hitherto, there was no difference by exploitation (onshore or offshore).

For crude oil deposits, the fix quota will be 8% and the variable quota will be between 4.5% and 5.5%, according to the extracted volume. For natural gas offshore deposits, the fix quota is of 10% for the entire extracted volume and the variable quota will be 2-3%, according to the volume extracted.

For the onshore oil exploitations, the royalty will be between 3.5% and 13.5% of the gross extracted output value, according to the deposit’s dimension, as it was until now. For natural gas, the royalty will be between 3.5 and 13%, unchanged, according to the deposit’s dimension.

 

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