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.
• Total leasing activity in Bucharest is 71% higher at the end of the first quarter compared to the same period last year. Bucharest, 8 April 2024 - The office market remains fluid and flexible. Two distinct trends have emerged in 2023: securing entry into prime new locations and optimising the portfolio through best value […]
The House of Lazăr Năftănăilă, a Roma household brought from the village of Calbor, in Braşov county, has officially opened at the Dimitrie Gusti Village Museum in Bucharest. The house opened alongside a barn brought from Vişeul de Mijloc, in Maramureş county, which hosts an exhibition and VR venue showcasing elements of the history and […]
The current European Commission president is running for a second term at the helm of the Union’s executive, but EU diplomats and politicians have been speculating on who could replace her. Politico Europe gathered the names being thrown around in Brussels and ranked their chances. Romanian president Klaus Iohannis is ranked as having the biggest chance to […]
Real developer STC Partners began the development of phase II of the residential compound Quartier Azuga, located near the Tei area in Bucharest, with an investment value of over EUR 15 million. This stage is to be completed by the end of 2025. Construction works at phase I are currently underway, the company said. The […]
This article series tells the stories of the 15 finalists selected in the Made in Romania 2023 program. Made in Romania is the flagship program of the Bucharest Stock Exchange dedicated to the development and promotion of the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest […]
Local construction company Concelex, as the general contractor, said that it completed the project to expand and modernize the Danube Delta airport in Tulcea, southeastern Romania, which thus became an international airport at Schengen standards. The total value of the project was RON 180 million (some EUR 36 million), covered by European funds. The association […]
