Insight
Romania’s oil and gas taxation: challenges and prospects
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Report summary
Major changes to Romanian oil and gas taxation could be introduced in early 2017. These changes are driven by the offshore Black Sea discoveries, domestic gas market deregulation and a need to revive the mature onshore. We believe two separate fiscal regimes should be developed – one for the onshore, and one for the offshore. Both need to be competitive, flexible and stable to incentivise long-term investment. However, falling hydrocarbon prices posed a dilemma for the government at this critical moment, as the government also needs to stabilise the state budget revenues.
What's included
This report contains
Table of contents
- Executive summary
- Tax stability has benefited hydrocarbon production in Romania
- Domestic gas price liberalisation ended tax stability
- A hard decision ahead
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What could be the options?
- Deepwater
- Onshore
- A new fiscal system could help Romania achieve several strategic goals
Tables and charts
This report includes 7 images and tables including:
Images
- Romania's hydrocarbon production and tax share
- Romania's hydrocarbon taxes
- Romania's remaining oil and gas reserves
- Deepwater Black Sea and Caspian Sea regimes: Split of revenues - Gas
- Romania’s oil and gas taxation: challenges and prospects: Image 5
- Selected onshore Europe regimes: Split of revenues - Oil
- Selected onshore Europe regimes: Government share of pre-tax cash flow - Oil
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