Romania: mining taxation system revised

Romania’s current fiscal regime for exploitation of mineral and hydro-mineral resources was established in 2003 by the Mining Law no. 85/2003 (Mining Law) and subsequently updated several times (in 2007, 2009, 2013, 2014 and 2015)…

Romania: oil & gas royalties’ system revised

Romania’s current fiscal regime for oil and gas upstream operations was established in 2002 by an amendment of the petroleum law in force at that time and was kept as such under the Petroleum law no. 238/2004 (Petroleum Law) currently in force…

Romania prepares for GDPR

On 5 September 2017, the Romanian Ministry for Internal Affairs published a draft law (“Draft Amendment”) amending the existing Romanian data protection legal framework in view of the upcoming May 2018 application of the EU Regulation no. 2016/679 of 27 April 2016 on the protection of natural persons…

Oil and Gas in Romania

Subsoil hydrocarbon resources located within the territory of Romania are the public property of the Romanian State – Article 136 (3) of the Romanian Constitution and Article 1 (1) of the Petroleum law No. 238/2004 (Petroleum Law)…

Finance and secured lending in Romania

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…