The Chamber of Deputies has adopted the draft Offshore Law on Wednesday.There were 248 votes "in favor" and 34 votes "against". The draft law regulates a set of measures regarding the stability of the fiscal regime and petroleum royalties. "Today we have voted in the Chamber of Deputies, alongside a wide majority, the Offshore Law. It is maybe a step - the most important - that we make towards energy independence. In fact we can say that once the investments starts in the Black Sea, Romania will become independent energy-wise, we'll produce more natural gas than we consume, and the natural gas surplus can be delivered abroad,"Energy Minister Virgil Popescu said at Parliament.According to the minister, Romania can become a supplier of regional energy security."The law brings stability and predictability, a friendly taxation environment and I am positive that it will help investors decide to invest. Moreover, it protects Romania's national interests - in case of energy crisis we can intervene and redirect gas to domestic consumption and, also, imposes a control over bilateral contracts. (...) I believe it is a law in which both the state and the investors have to win and we expect investment decision can be made," Virgil Popescu also added.He maintained that "no one ever sells under a cost price, starting from the good faith principle.""Romania gains from the royalty - which is somewhere at 13 percent - from the additional revenue tax, Romania gains from the profit tax of companies, from the number of jobs that will be created. The state budget gains from the labour force tax and I believe the most important thing - Romania becomes independent energy-wise, and we'll no longer have problems of natural gas supply," Virgil Popescu argued.
Romanian Finqware (17th), Questo (18th), Footprints AI (21st), and Steepsoft AI (28th) are among the fastest-growing technology startups in the region, included in the main category of the Deloitte Technology Fast 50 Central Europe 2025 ranking. The ranking measures the growth rate between 2021 and 2024. This year's ranking, now in its 26th edition, is […]
Verbund Wind Power Romania, the Romanian subsidiary of Austrian energy company Verbund, has selected a consortium comprising Prime Batteries Technology and Enevo Group for the supply and integration of a new Battery Energy Storage System - BESS with a capacity of 76 MWh and an absorption/delivery capacity of 48MW. Verbund operates a 226 MW wind […]
The union at the Automobile Dacia automobile factory in Mioveni expressed concern about the administration's proposal to reduce production, starting in January 2026. The production is reportedly planned to be reduced to 55 units per hour, from 65 units currently, according to the company's employees speaking for Europa FM, as reported by
Romanian prime minister Ilie Bolojan announced on November 21 that a decision will be taken in December regarding the minimum turnover tax (IMCA) applied to companies with a turnover of EUR 50 million or more, whose 16% profit tax falls below 1% of turnover, Economica.net...
Prime minister Ilie Bolojan, in a press conference on November 21, said that Romania took steps to protect the interests of state company Romgaz, which holds 12.2% in the Trident Black Sea offshore perimeter operated by Russia's Lukoil. He said that the authorities in Bucharest "collaborated" with the Office of Foreign Assets Control (OFAC) within […]
Kazakhstan's national oil and gas company, KazMunayGas, is set to partially divest its European assets, which include KMG International (KMGI, formerly Rompetrol Group) with Romania's largest refinery, Petromidia (4.8 million tonnes refining capacity), in its portfolio. KazMunayGas plans to sell up to 50% of its European holdings, according to
