The voice of the entire
Upstream sector in Romania

Radio & TV appearances

Digi 24: Romania imports one third of gas it consumes from Russia

Presently, the system is close to the operation limit. Although last year the authorities said we had achieved energy independence, at this moment imports from Russia account for almost one third of the entire consumption. The situation is a first for October, in the past 25 years.   Source: Digi24

DIGI 24: Taxation of the petroleum sectror, reconsidered

This video is available only in Romanian.  

Economic growth based on consumption deepens Romania’s deficit

Romania recorded last year an economic growth above potential, registering an advance of 3.7% comparing with 2014, according to data centralized by the National Statistics Institute (INS). This was the highest growth of an EU country in 2015. "Put in popular terms, an economic growth above potential occurs when a family spends more money than it can afford. In essence, what you consumed is beyond what you produced. The risk is to widen the difference between income from production and...

Daniel Apostol, ROPEPCA: Fuel overcharges prevent further price reduction

The recent fines imposed by the Competition Council on some fuel wholesale distributors for cartel deals on prices and customer portfolio shed new light on the decisions the Romanian state could take to influence, for the better, the hydrocarbon industry in a profoundly unfavorable moment, claimed Daniel Apostol, economic analyst and Secretary General of ROPEPCA petroleum associations, at TVR 1. In an edition of Prim Plan talk-show dedicated to fuel price formation mechanism, Daniel...

Daniel Apostol, ROPEPCA: A raising transport tariff affects the hydrocarbon sector

Conpet state company, oil pipeline operator for crude oil transportation, could increase the fee by a 1.41% rate for services regarding domestic oil. In other words, oil producers who conclude contracts for oil transport by pipeline will pay a cumulative 3.6 million RON more this year than in 2015, despite a lower production, decreasing of trading prices, and aggressive taxation. "I think we should be more attentive to the fact that we have this decrease in production and an...

Refining grants OMV Petrom the necessary balance in a difficult period for crude extraction

OMV and Gazprom are negotiating an asset exchange involving operations in Romania controlled by the Austrian company through OMV Petrom, write some media outlets in Austria and Romania. According to unconfirmed information, OMV and Gazprom would have cut a deal by which the Austrian company will be able to access hydrocarbon deposits in Siberia in exchange for Petrobrazi refinery and involvement in operations OMV Petrom carries out in cooperation with ExxonMobil in the Black Sea....

Daniel Apostol, ROPEPCA: Oil prices affect the auto industry

The continuous drop in the price of a barrel of oil at the lowest prices in 13 years not only affects the energy sector itself, but has repercussions in other strategic sectors as well, sectors that are major employers. Exporters of industrial products, like the oil operators, slow down their activity and investment, with negative effects on hundreds of thousands of employees. "We are afraid of what could happen by maintaining excessive taxation in the oil and gas domain. Investors...

Daniel Apostol: A support for hydrocarbon industry is a support granted to society

  2016 projections of the most important actors with roles in the national economy (employee representatives, employers' associations, Fiscal Council) are mainly directed towards wages, prices of consumer goods and investment levels, whether public or private. For oil and gas industry, the premises for this year are some of the worst. Oversupply continues, quotations are down to the minimum of the last 11 years, geopolitical tensions in the Middle East are as current as ever,...

Daniel Apostol, ROPEPCA: Over half of fuel price are revenues for the state

Economic growth based on private consumption received additional incentives once the global oil prices and the local VAT rate decreased, developments that were transposed in lower fuel prices at the pump, but the situation should be seen more in depth, said Daniel Apostol, economic journalist and General Secretary of ROPEPCA petroleum association at Daily Income talk-show. "The price of fuel at the pump benefits from the reduction of international oil prices and from the local...

The Government overcharges while the oil industry continues its decline

The state budget, as presented by Prime Minister and Minister of Finance, is based on an economic philosophy composed on five principles: investments in projects limited in number and meaningful in impact, transparency in public procurement, efficiency in resource allocation, caution and legislative predictability, recalled Daniel Apostol, economic journalist and Secretary General of ROPEPCA petroleum association during Daily Income TV show. This last goal was immediately breached by the...

Encouraging private investment is the antidote to poverty

Over 8 million people are living with major deprivations in Romania and assessments made by the European institutions and the UN show that Romanians are among the poorest Europeans. More worrying for the new generations route, the latest Eurostat data show that average poverty rate of children in Romania exceeded 50%. "Over 8 million Romanians live under the threat of terrible poverty; these millions of citizens are to be found mostly in small rural and urban communities. These are...

Project: 45% tax on oilmen' profits (Digi24 TV)

The new Government received a "hot potato" from the Ministry of Finance: after delaying for two years a decision on oil royalties, the former Finance Minister left for his successor the proposal to tax by up to 45% the profits obtained by oil companies. The news caught companies by surprise. Over 200 wells closed, thousands of people sent in unemployment and investments by up to 30% lower. These were the effects of oil price decline below the threshold of USD 50/barrel. The proposal made...

Cioloş government should guide the national budget towards investment

On November 17, then designate Prime Minister Dacian Cioloș explained before the Parliament of Romania the program of his cabinet, on which he requested a vote of confidence from the legislators, which he received. Economic journalist and Secretary General of ROPEPCA petroleum association, Daniel Apostol, noted that despite the fact that the vote was granted on a government program shorter than the one presented to Parliament, there is no impediment in this regard to follow the...

D. Apostol: Cioloș Cabinet mission is the economic wellbeing of Romanians

The stability of the political environment and of the economy, two essential elements for the attractiveness of a country for investment represents the binomial issue that the new Government must manage together with the parliamentary political parties, argued Daniel Apostol, economic journalist and Secretary General of ROPEPCA petroleum association, while at Realitatea TV. The Cabinet of technocrats built around prime minister Dacian Cioloș is not really be able to make a political...

The stability of investments in oil and gas depends on the long-term stability of the fiscal framework

For more than five years, the International Monetary Fund (IMF) urges Romania, through the arrangements made for financial stability, to reform and liberalize important sectors of the economy, such as energy. The collaboration was expanded in talks with the IMF, and with other international institutions such as the EU and the World Bank, in the field of taxation of petroleum activities. Any exam given by the Government from time to time before the IMF is first given daily by the...

The new fiscal framework preserves investment barriers

Compared to the draft adopted in June, the new Tax Code contains a number of amendments which involve a gradual relaxation of taxes. Oil specialists are unhappy that the new Tax Code contains no provisions that encourage investment in energy, and disregards the world crisis of oil already affecting the global energy sector. "Operated by the government, the fiscal loosening, otherwise required, is based solely on consumption. The new Fiscal Code brings nothing more than a reduction in VAT...

Fiscal easing of consumption, preferred to elimination of investment obstacles

Despite all the discussions conducted by the business community with the authorities directly concerned by the form of new Fiscal Code, the unique fiscal loosening kept in the text of the law is a lower VAT, the rest representing only a restatement of principles toll so far, said Daniel Apostol, economic analyst and General Secretary of ROPEPCA oil association while in the show of Daily Income tv program, at Antena 3. "The ministry of Finance showed that the big problem is about evasion,...

Voted for the second time, the fiscal framework overlooks private investors

The political consensus between the political parties on the second form of the Tax Code has resulted in the postponement of several elimination of taxes that block investment and entrepreneurship. Although the new Tax Code was not yet voted, the business community received a new promise that if numbers do permit, eliminating tax on special construction and over-duty on fuel will be achieved earlier than the beginning of 2017, by an emergency executive ordinance. "In June, it was promised...

The new Tax Code continues to charge investment

The final version of the new Tax Code, brought up after several months of negotiations between stakeholders and after the refusal of the President to sign the first version, came with some unpleasant surprises for the business owners. The tax on special construction has been preserved for the next year for all sectors, except agriculture, reducing the tax on dividends did not happen, the labor cost remains high, and the over-duty applied to fuel definitely will stay until early 2017. This...

Fiscal easing for investment turned into easing for consumption

Development of existing businesses and initiating new ones through private investment will continue to be hampered by the charging level of the new form of the Tax Code, on which there was a new political agreement. The big disadvantage is that fiscal loosening promised to investors in the past three years has turned this summer exclusively into tax cuts for consumption, shows Daniel Apostol, economic analyst and Secretary General of ROPEPCA Association. "The great fiscal easing was eased...

Romanian Government seeks measures to implement the new fiscal code

At the moment this article is only available in Romanian.

Romanian Oil, squeezed to the very last drop

At the moment this article is only available in Romanian.

Income Magazine edition regarding Greece and the euro zone, guest ROPEPCA

Greece's situation is becoming increasingly tense on the European financial scene.During the Brussels negotiations Greece failed to reach an agreement with the foreign creditors. The subject was discussed during the TV show "Income Magazine", hosted by Adrian Măniuţiu, at Antena 3, on June 27, 2015. Adrian's guests, Caius Traian Dragomir, Romania's former ambassador to Greece, and journalist Daniel Apostol, explained why the Greek situation is a global risk.  

Major oil and gas investments need the safety of a stable fiscal framework

Geopolitical tension in the Eastern neighborhood of the European Union and ensuring the primary energy resources for domestic demand in order to supply vital services for the economy and households put in the forefront of the national economic agenda the investments done in the local sector of oil and gas.   Capital intensive and in need of educated labor force, the energy sector plans its operations in decades, and such a business vision implies a good and certain knowledge of...

A lower tax burden helps the economy more than the state budget collections

In the context of the technical mission carried out in Bucharest by the European Commission and the International Monetary Fund, the Secretary General of the Petroleum Association ROPEPCA,  Daniel Apostol , argued in a broadcast on Radio Romania News that a lower tax burden would lead to channeling this capital for better purposes than those obtained by sending it to the state budget. Starting from how Romania’s international lending institutions perceive the lower fiscal...

Consultations on royalties between companies and authorities remove the risks for business

Daniel Apostol, Secretary-General of ROPEPCA , argues that the system of taxation of petroleum extraction activities to be proposed by the Ministry of Finance should facilitate investments in the hydrocarbon sector year after year, investments that enable the development of this field nationally and the safe collection of revenues to the state budget. The consultation by the Ministry of Finance and NAMR of those directly affected by the royalty system removes the risk of negative impact...

PRESS RELEASES


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