Romania must increase royalties’ level in all areas

Romania must increase the level of royalties, as it can no longer keep the same level since the beginning of the ‘90s or since 2000, Minister Delegate for Energy Constantin Nita told a specialist conference.

‘We must see what goes on in Europe. We are not doing anything else. The way it happens in Germany, for instance, must also happen in Romania, without any discrimination. It is not the Energy Ministry the one to establish the royalties for petroleum, gas and the other mineral resources. This is being done by the National Agency for Mineral Resources, together with the Finance Ministry and with one or two specialists from our Ministry,’ Nita said.

According to him, a joint commission will assess each royalty, and then they will move to the negotiation of the contracts in question with the companies functioning in this area.

Prime Minister Victor Ponta on January 16 said that a law was going to be approved in 2013, aimed at updating royalties in all areas, including in petroleum and natural gas, to what the European average meant.

„Obviously we shall increase all royalties; obviously we cannot increase them just for Petrom. The idea is to increase royalties in all areas that pertain to natural resources at a level that the Romanian state has to gain more and that can maintain investments. Because, in case they are too high, we could risk remaining without investments. But, this year, the law on updating royalties in all fields will be adopted, including in petroleum and natural gas, to what it means the European average,” Victor Ponta said, adding that the royalties could be changed in 2014.

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