The government approved on Wednesday the change in the method for the calculation of the oil royalty payable to the state budget by non-state-owned oil terminals, increasing the due percentage rate to 3% of their pre-tax revenues.

According to a release from the Executive, a rule set forth in the Petroleum Law is thus implemented. Constanta Port oil operator Midia Marine Terminal SRL falls under the scope of these provisions.

The Romanian state estimates that this measure will help collect additional budget revenues of RON 2.41 million annually, the cited source mentions.

AGERPRES