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 defense minister Ionuț Moșteanu resigned on Friday, November 28, after a scandal regarding inconsistencies in his resume triggered by a journalistic investigation. The controversy erupted after Libertatea reported that Moșteanu had falsely claimed in his first...
AnimaWings, the Romanian airline founded in 2020, has introduced new all-inclusive service packages on both international and domestic flights, marking what the company describes as a first in its onboard offering. The packages, named Priority All Inclusive and Priority All Inclusive Plus, combine baggage, meals, drinks, premium seating, and airport priority services into a single […]
Property developer M Core has opened M Park Orăștie, a new retail park developed on a 23,000 sqm plot in an established commercial area of the Romanian city. The project delivers around 5,500 square meters of single-level retail space, designed to accommodate a mix of fashion, homeware, electronics, and everyday essentials retailers. The company said […]
More than 80% of the electricity production capacity of the new nuclear reactors in the works in Romania could power a Black Sea AI Gigafactory project, according to a plan laid out by the government. Romania has already secured financing and partners to develop units 3 and 4 at the Cernavodă nuclear power plant, with […]
The Institute for the Investigation of the Crimes of Communism and the Memory of Romanian Exile (IICCMER) has issued a public appeal to president Nicuşor Dan and prime minister Ilie Bolojan to demonstrate “firmness in decision-making” in order to counter what it describes as an “increasingly insidious phenomenon of pro-totalitarian nostalgia,”
AFI Romania, part of the leading real estate development, management, and investment company operating across Central and Eastern Europe, AFI Group, announced that it secured a EUR 537 million refinancing package for three major projects in its portfolio: AFI Cotroceni, AFI Brașov, and AFI Ploiești. The three projects included in the refinancing are among the […]
