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Upstream sector in Romania

Observation on royalties and similar taxes - DELOITTE Study on the Oil and Gas Upstream sector in Europe (Sept 2015)

Upon request of the Oil and Gas Employers’ Federation (OGEF), Deloitte performed a study where they analyzed the actual royalties and similar taxes as a percentage of revenues observed in exploration and production of oil and gas (”upstream”) in Europe.

This is the updated study, available September 2015.

Background and methodology

  • Fiscal and regulatory framework plays an important role in the overall economics of oil & gas business, given its long term business cycle. Commissioned by Federatia Patronala de Petrol si Gaze (“FPPG”), we conducted an analysis using publicly available information as of 2013 and, in February 2015, we issued our report observing the various “Royalty and similar taxes” in various European countries as a percentage of revenues. The current report is a brief update of the previous report, using 2014 data.

    Actual Royalties and similar taxes differ from nominal rates

  • The update must be considered within the limitation that every field is different let alone two countries. Royalties and sector specific taxes are driven by national priorities, market reality and in recent months also had been affected by or are in the process of revision due to the severe decline of oil prices.

  • To have a more thorough understanding the update should be read together with February 2015 report. 


DOWNLOAD THE UPDATED REPORT

More information on the Deloitte website.

 

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