The Sovereign Fund project entres public debate

The Ministry of Public Finance announced on Saturday that it has put into public debate a draft normative act that creates the general legal framework that a company governed by the Companies Law no. 31/1990, republished with the subsequent amendments and completions, must fulfill them in order to be considered a sovereign fund for development and investments. The Ministry of Public Finance announced on Saturday that it has put into public debate a draft normative act that creates the general legal framework that a company governed by the Companies Law no. 31/1990, republished with the subsequent amendments and completions, must meet them in order to be considered a sovereign fund for development and investment, according to Agerpres.

Source: Energynomics, Economica

Gas companies paid 67% of the royalty last year in the first half of this year. OMV Petrom paid more even if it produced less gas than Romgaz

In the first half of this year, the Romanian state received royalties related to the production of natural gas amounting to 432.7 million lei, equivalent to 67% of the total fees collected in 2017 as a result of the change of the reference price of the formula calculation of royalties. However, the sums collected by the state from the natural gas extraction activity are almost doubled, with the collection of royalties being added to those from the special tax on the extra income resulting from the liberalization of the gas price.

Source: Profit

Iulian Chifu: offshore law should support affordable, market-oriented taxes

The president of the Romanian Center for Conflict Prevention and Early Warning, Iulian Chifu, stated on Saturday in the third edition of the Bucharest Security Conference that offshore law should support affordable, market-oriented taxes.

Source: Economica

Transgaz will receive € 46 million from the EU for the development of the national gas transmission system

Transgaz will receive a € 46 million grant from the Large Infrastructure Operational Program to develop the capabilities of the National Gas Transmission System (NTS) in the North-East of Romania, said on Friday Alexandru Macoveiciuc, spokesman for the Ministry of Economy, in at a press conference, quoted by Agerpres.

Source: E-nergia