Oil and gas royalties drop 18% in Jan-Sep

National Agency for Mineral Resources said the royalties from companies that pump oil and natural gas from Romanian territory in the nine months ending September 30 fell 18.5% to 667 million lei (€157.7 million) from the same period of last year. The royalty paid by companies under oil exploration agreements in Jan-Sep 2008 period stood at 819.263 million lei.“Reasons underlying the decline in royalties are first of all the drop in oil and natural gas production, in the benchmark price ...

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