Oil and Gas in Romania
Subsoil hydrocarbon resources located within the territory of Romania are the public property of the Romanian State – Article 136
Subsoil hydrocarbon resources located within the territory of Romania are the public property of the Romanian State – Article 136
An absolute novelty under the Romanian legislation, Law no. 151/2015 on insolvency of natural persons (“Personal Insolvency Law“) was adopted by the Romanian Parliament back in June 2015. Due to certain administrative reasons (e.g. need of regional administrative bodies specialized on the personal insolvency…
What is the current state of the lending market in your jurisdiction and have any new trends emerged over the last 12 months? The lending market picked up during the second quarter of 2016, following a slowdown at the end of 2015. Bank debt continued to be the most common form of lending…
The Government Emergency Ordinance no. 42/2017 amending Law no. 207/2015 regarding the Fiscal Procedure Code (“GEO 42/2017”), entered into force on 13 June 2017, transposes within the Romanian legislation the EU Directive 2016/881 which provides the mandatory automatic exchange of information…
A tax on windfall gains obtained by domestic gas producers as a result of deregulating the sale prices for domestic natural gas was introduced in 2013 by Government Ordinance No. 7/2013 (GO 7/2013), initially applicable until 31 December 2014, but extended yearly until end of 2017…
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