Dragnea: Offshore Ordinance – It is necessary for the law to be very clear and unambiguous

Liviu Dragnea, the President of the Chamber of Deputies, said on Tuesday that the offshore ordinance should define unequivocally the value of investments and how they are deducted, mentioning that he had a discussion with Prime Minister Viorica Dăncilă and Minister of Finance Eugen Teodorovici, on this issue and follows an analysis in the coalition, after promulgation of the law.

Source: Agerpres, News.ro, Bursa

Seele, OMV CEO: Production growth must be commercially viable and at relatively low costs. Low cost of production – the main reason Austrians invest in Russia

Companies in the oil and gas industry should not only be concerned about the increase in production but to ensure that it is economically viable and can be carried out at relatively low costs, said in an interview with the Russian agency Tass news, Rainer Seele, OMV CEO, OMV Petrom’s main shareholder. He added that the low cost of production is the main reason he likes to invest in Russia.

Source: Profit

Fondul Proprietatea contests the profit rate of 5.07% that ANRE wants to introduce in order to decrease the distribution tariffs. ANRE is willing to give up only the rate of 2.07% for investments in equipment and replacements

The Energy Regulatory Authority (ANRE) is willing to abandon the proposal to use a regulated rate of return of only 2.07%, down by 3 percentage points to the standard, for investments consisting of endowments and replacements following consultations with electricity distributing companies and their shareholders. Fondul Proprietatea, a shareholder in several companies in the field of electricity distribution (E-Distribution Banat, Muntenia and Dobrogea), even contest the standard rate of return, which ANRE wants to set at 5.07%.

Source: Profit

President Iohannis notified CCR on the Law on the Amendment of the Criminal Code 

President Klaus Iohannis sent the Constitutional Court of Romania a motion on unconstitutionality of Law no. 286/2009 on the Criminal Code, as well as of Law no. 78/2000 on the prevention, detection and sanctioning of corruption acts.

Source: Agerpres

Teodorovici, about the PSD presidential candidate’s portrait: I want a president to represent me abroad with dignity

Source: Agerpres