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.
Hungary's state company MVM responded to rumours, saying it has not abandoned plans to take over E.ON's Romanian subsidiary – but it only "temporarily withdrew from the FSR mechanism" because the approval of the investment by the Romanian authorities takes more than expected and the company needs to "balance its costs and resources," according to
The United States has approved a USD 130 million grant to finance the construction of a high-voltage power line linking Moldova to Romania, a project officials said would strengthen the country’s energy security and deepen ties with Washington. The 190 km Strășeni–Gutinaș line will connect Moldova to the European electricity grid. It will complement the […]
It’s a busy weekend in Bucharest, as the city gears up for its annual celebration, film and theater festivals bring the latest productions, and new exhibitions are opening.
The 16th edition of Les Films de Cannes, the festival showcasing productions awarded or selected at the Cannes film festival, returns this fall to Bucharest and four other cities in the country. The winner of this year's Palme d'Or, Jafar Panahi's It Was Just an Accident, will be screened at the event, as will be […]
Răsvan Angheluţă Natural Sciences Museum in Galaţi is scheduled to reopen on September 20, after the completion of modernization works worth over 15.1 million lei (approximately EUR 3 million) carried out by the County Council through the recovery and resilience facility PNRR. The building hosts an Aquarium, an Astronomical Observatory, a Planetarium, and temporary exhibitions. […]
A team of Romanian paramedics won first place at the World Rescue Challenge 2025, a competition that sees first responders and trauma teams from around the world develop new skills and share knowledge. This year, the competition took place in Karlovac, Croatia, and was attended by two Romanian paramedics from Bucharest who have been working […]
