Romania Seeks Early Start to Revised Royalty Agreement


A possible solution to balance Romania’s state budget for 2013 would be to increase, before 2014, royalties from oil and gas companies. Last week in Vienna Prime Minister Victor Ponta met with OMV chairman, Gerhard Roiss, and discussed the increase of royalties that OMV Petrom will pay in 2015. As a reminder, according to the privatization agreement of Petrom signed at the end of 2004, the level of the royalties due to the Romanian state remain unchanged until the end of 2014.

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