Romania Upstream Fiscal and Regulatory Report- Rising Preferences, Boost Growth, Future Expectations, Key Developments

Posted on 2019-03-26 by Mark Hub in Retail // 0 Comments

Albany, US, 2019-Mar-26 — /EPR Network/ —This research study added to the broad database of Market Research Hub (MRH) focusing on the Romania Upstream Fiscal and Regulatory Report-Frequent Legislative Changes Create Uncertain Environment delivers an in-depth outlook to present information about executive summary and key performance indicators. Furthermore, readers can gather knowledge about the economic status, demographics and competitive landscape which is prevailing in the concerned industry during the review period. Overall, the purpose of this assessment is to present a clear picture highlighting the transformations expected to occur in the Romania Upstream Fiscal and Regulatory driven by major trends and opportunities.

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Romania Upstream Fiscal and Regulatory Report – Frequent Legislative Changes Create Uncertain Environment

Summary

Romania offers concession agreements for oil and gas exploration and production activities under a concession framework. New legislation has created uncertainty in the sector in recent years, and additional changes to fiscal terms have created instability in the fiscal regime. A new offshore law came into force in November 2018 after significant political wrangling, introducing a new windfall gas tax. However, the industry still faces significant uncertainty as a result of numerous other proposals for tax and market regulation.

Romania Upstream Fiscal and Regulatory Report – Frequent Legislative Changes Create Uncertain Environment, presents the essential information relating to the terms which govern investment into Romanias upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the states take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Romanias upstream oil and gas investment climate.

Scope

– Overview of current fiscal terms governing upstream oil and gas operations in Romania
– Assessment of the current fiscal regimes state take and attractiveness to investors
– Charts illustrating the regime structure, and legal and institutional frameworks
– Detail on legal framework and governing bodies administering the industry
– Levels of upfront payments and taxation applicable to oil and gas production
– Information on application of fiscal and regulatory terms to specific licenses
– Outlook on future of fiscal and regulatory terms in Romania.

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Table of Contents

1.1. List of Tables
1.2. List of Figures
2. Regime Overview
3. State Take Assessment
4. Key Fiscal Terms
4.1. Royalties, Bonuses and Fees
4.1.1. Royalties
4.1.2. Drilling Permit Fees
4.2. Additional Oil and Gas Taxes
4.2.1. Tax on Excess Revenue from Gas Price Deregulation
4.2.2. Offshore Supplementary Income Tax
4.2.3. Special Tax on Revenues from Natural Resources other than Natural Gas
4.3. Direct Tax
4.3.1. Corporate Income Tax
4.3.2. Deductions and Depreciation
4.3.3. Withholding Tax
4.4. Indirect Taxation
4.4.1. Value Added Tax
4.4.2. Customs and Excise Duties
4.5. EU Emissions Trading Scheme
5. Regulation and Licensing
5.1. Legal Framework
5.1.1. Governing Law
5.1.2. Contract Type
5.1.3. Title to Hydrocarbons
5.2. Institutional Framework
5.2.1. Licensing Authority
5.2.2. Regulatory Agency

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