Country Report
Romania upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
All licences in Romania operate under a concession-based fiscal regime. The main elements include a royalty, gas windfall tax (onshore), excess revenue tax (offshore) and corporate income tax. Oil and gas royalty rates are linked to production. The gas windfall tax and excess revenue tax are applied above certain threshold gas prices. No bonuses or area rentals are payable but there are other indirect taxes. Blocks are awarded during licensing rounds and there is no mandatory state participation.
Table of contents
- Basis
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Licence terms
- Duration
- Relinquishment
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Financial contribution
- Other indirect taxes
- Royalty
- Ring fencing
- Base
- Deductions
- 36 more item(s)...
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate - onshore/shelf/deepwater, oilEffective royalty rate - onshore/shelf/deepwater, gasMaximum government share - onshore/shelf/deepwater, oilMaximum government share - onshore, gasMaximum government share - shelf/deepwater, gasState share versus pre-share IRR - oil
- 13 more item(s)...
What's included
This report contains:
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