Part of the sums owed by the holders of oil agreements related to deep offshore and onshore perimeters as a tax on additional revenues will be directed to investments and restructuring activities in the energy field established by a Government Decision, according to the draft Emergency Ordinance on some fiscal-budgetary measures, the extension of some deadlines, as well as for the modification and completion of some normative acts, published on Tuesday on the website of the Ministry of Finance.

“It is proposed to amend art. 20 of Law no. 256/2018, regarding some measures necessary for the implementation of oil operations by the holders of oil agreements relating to deep offshore and onshore oil perimeters so that, from the amounts owed by the holders of oil agreements relating to at the deep offshore and onshore perimeters as a tax on additional revenues to ensure investments and restructuring activities in the field of energy established by Government Decision. It is also proposed that these amounts can also be allocated to the main appropriations of the budget state, establishing, at the same time, the financing mechanism,” it is stated in the explanatory note accompanying the draft normative act, according to Agerpres.

At the same time, the Ministry of Finance reminds that by Government Decision no. 1311 of November 28, 2022, the amendment of the annex to Government Decision no. 564/2022 regarding the approval of the income and expenditure budget for the year 2022 for the Oltenia Energy Complex Company, under the authority of the Ministry of Energy, in the sense of increasing the total operating income related to the year 2022, registering at the end of the year a net financial result in the amount of 3.308 billion lei compared to 178.753 million lei initially estimated by Government Decision no. 564/2022.

“Romania is in the European excessive deficit procedure, which means that the current budget construction bears significant constraints, because the budget deficit policy foresees a substantial adjustment in the short and medium term, to which were added the additional financing needs generated by the conflict from Ukraine and the general increase in prices. In the context of the above, in order to relieve the state budget, considering the financial results of the Company Complexul Energetic Oltenia SA, it is proposed to amend the Emergency Government Ordinance No. 21/2022 in what concerns ensuring the reintegration of privatization revenues used by Societatea Complexul Energetic Oltenia SA, from the company’s own sources,” the document also says.