Regulations No. 53 on the state fee for the oil production.

These Regulations determine the procedure for calculating and paying the state fee for the oil production. The Royalty is a payment for the oil produced in the territory or the exclusive economic zone of Latvia. The Royalty shall be paid by companies (enterprises), which have obtained a permit (licence) for the exploration and production of hydrocarbons and produce oil in the territory or the exclusive economic zone of Latvia. Companies (enterprises) shall calculate and pay the Royalty in Lats (LVL) for the amount of oil extracted from each separate deposit. The amount of the oil produced shall be supervised by the Ministry of Economics.