Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. The offshore law was adopted by the Senate

The offshore law was adopted by the Senate

May 26, 2022

The Senate’s plenary session has adopted on Wednesday the legislative proposal for the amendment of the Offshore Law, which regulates the oil operations of exploration, development, exploitation of oil fields both in offshore and deep onshore oil perimeters.   The Romanian state will have the right of preemption for the acquisition of natural gas, according to the text of the law.   The draft bill act was adopted by 91 votes in favor and 13 against. On Tuesday, the Senate Finance and Energy Committees had issued a joint admission report on the Black Sea Offshore Gas Exploitation Act, with 17 votes in favor and 2 against. USR has filed a threat to transfer the proceeds of gas to Pillar II pensions. The amendment was rejected in plenary with only 21 votes in favor and 65 against.   According to the Energy Minister, Virgil Popescu, the first gas will be extracted from the Black Sea in the second part of this year.   Minister Virgil Popescu also underlined that by amending the current law, the investments in the Black Sea will be unblocked and the investments in the deep onshore will be accelerated, while the security in the country’s supply will be ensured in case of energy crisis, and Romania will also be able to become a provider of regional energy security, after producing more than it consumes.   The bill sparked heated debate within the ruling coalition and after months of misunderstandings was tabled in parliament in mid-April. The legislative initiative stipulates that Romania will have the right of preemption to purchase gas and also regulates onshore exploitation. It also regulates a competitive tax regime in such a way that the distribution of revenues is made in a percentage of approximately 60% for the Romanian state and 40% for the investor.   The Senate Plenary session has adopted on Wednesday the legislative proposal for the amendment of the Offshore Law, which regulates the oil operations of exploration, development, exploitation of oil fields both in offshore and deep onshore oil perimeters. The Romanian state will have the right of preemption for the acquisition of natural gas, according to the text of the law.   After the vote of the Senate, the law will also be debated by the Chamber of Deputies, the decision-making body in this case.  

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/the-offshore-law-was-adopted-by-the-senate/97586
Read in full - click here
Junot Díaz, Tracy Chevalier, Michel Bussi: Iași literature festival announces first guests at 2025 edition

Pulitzer Prize winner Junot Díaz, Tracy Chevalier, the author of the international best seller Girl with a Pearl Earring, and French author Michel Bussi, known for his widely translated thriller novels, are among the authors set to attend this year’s Iași International Literature and Translation Festival (FILIT), the largest literary festival in the country. They […]

A Taste of Nature: Michelin-Starred Chef Theodor Falser brings his culinary artistry to JW Marriott Bucharest

Bucharest is about to welcome a culinary moment like no other. This September, the JW Marriott Bucharest Grand Hotel will host Michelin-starred Chef Theodor Falser - a name synonymous with nature-inspired haute cuisine - for three exclusive evenings that promise to delight the senses and tell stories through food. The Chef Who Cooks Nature Theodor […]

Government: IMF backs Romania’s fiscal measures, sees 1% GDP growth in 2025

The International Monetary Fund (IMF) has endorsed Romania’s latest fiscal measures, forecasting that the economy will grow by 1% in 2025 and 1.4% in 2026, the government said Friday, September 12, after talks with a visiting IMF delegation. The delegation, led by Joong Shik Kang, met prime minister Ilie Bolojan in Bucharest to discuss the […]

Romanian theater stages robot-only performance exploring technology and e-waste

The George Ciprian Theater in Buzău has unveiled “E-Waste E-Motion,” the first performance in Romania in which all characters are played by small autonomous robots, blending art, technology, and sustainability in an experimental theatrical project. “E-Waste E-Motion” is part of a broader artistic research initiative supported by the National University of Theatre and Film (UNATC) […]

Emmy Stoel appointed as the new General Manager of InterContinental Athénée Palace Bucharest

With extensive experience in the luxury hospitality sector, gained as General Manager of Sofitel Legend The Grand Amsterdam and Hotel Okura Amsterdam (LHW), as well as in various Director of Operations and Business Development roles, Ms. Emmy Stoel is a seasoned professional whose career reflects a deep passion for excellence in guest service, having successfully […]

Update: Six knives found on woman trying to enter Romanian Parliament

Update: The woman made her first statements on Friday afternoon after being questioned. According to Digi24, she told journalists outside a police station in Bucharest that the items were family heirlooms from the Soviet era, and that she...