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Bucharest
April 22, 2021
BUSINESS

Oil and gas royalties must be renegotiated, Gov’t says

PM Victor Ponta said Tuesday royalties for crude oil and gas must be renegotiated, but they cannot be changed before 2014. “If we waited from 2004 to 2013, we can wait one more year,” Ponta said during the inaugural event of the Petrom power plant of Brazi. He added that, when Petrom increases fuel prices, he is tempted to blame the company, but he stops short, because he realises that Petrom is the biggest taxpayer to the state budget, and 25,000 families depend on it. Ponta added that, during his first visit abroad as premier, he met the chiefs of OMV and Petrom in Vienna, and talked about the Brazi power plant. “OMV President Gerhard Roiss spoke about the plant with a lack of optimism. (…) With the risk of losing some votes, I want to thank Petrom for building the power plant,” Ponta went on. Petrom invested EUR 530 M in the construction of the Brazi power plant, which will cover 8-9 pc of Romania’s energy needs. The plant uses natural gas as fuel. According to Ponta, the construction of the Petrom power plant is a sign of competition for the other energy producers active in Romania.

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