The Offshore Law to govern the Black Sea gas exploitation was postponed for a week by the PSD. Liviu Dragnea, president of the main party and Chairman of the Chamber of Deputies, said this was an important law having raised many debates. PSD wants to “weigh it better”. “We want to give it more thoughts, we want to do more simulations, because it’s a very important law that fueled a lot of debates, all sorts of attitudes, some exaggerated and very passionate. I guess these are all generated with good thoughts, in good faith, and we lose nothing if we stay on it one more week. (…) We have to make all the calculations so that we know how much the Romanian state will get in terms of both financial and resources”, Dragnea said.

Offshore Law was adopted by the Senate; interesting mechanism for investment deductions

The Senate adopted the Offshore Law to govern the Black Sea gas exploitation, as the first notified chamber. The normative act had been sent for review by President Klaus Iohannis, after being adopted in the Parliament this Summer. The Energy and Economic Committees in the Senate have approved several amendments proposed by PSD and ALDE senators. One of the amendments provides for the maintenance of current royalties regime for future oil production in the Black Sea. Also, for the entire period of the oil agreements, the royalties regime and the tax regime will not change.