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Serinus Energy PLC announced on Friday it had won a value-added tax refund litigation case in Romania. Shares in Serinus Energy were up 27% at 3.04 pence in London on Friday morning. The Romania and Tunisia-focused oil and gas explorer and developer said the Superior Court of Cassation & Justice of Romania ruled in its favour against the Romanian tax authority, or ANAF. ANAF refused to refund VAT amounts totalling RON8.3 million, around $1.7 million, which it said was attributed to the 40% share of defaulted partner OEBS. The International Chamber of Commerce arbitration concluded in 2022 that the defaulted partner had no claim to the VAT paid on its behalf by Serinus. Serinus will also receive interest compensation for the delayed refund of RON3.6 million, or around $750,000. ANAF must provide the refund and interests within 45 days, Sernius said. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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