There to be no sharp rise in the load on oil production in the Russian Federation in 2015-2017.

The authorities of the Russian Federation have agreed on a new version of the changes to the tax system in the industry, providing less stress on oil extraction than it was previously thought; in 2015 the severance tax rate will increase by 1.4 times, in 2016 - 1.5 times, in 2017 - 1.6 times against the originally anticipated growth of 1.5, 1.6 and 1.7 times respectively, a source familiar with the discussions told RIA Novosti.

This option is agreed upon with the relevant ministries and oil companies, including "Rosneft", and will be discussed at a government meeting this week, the official stated.

In 2015 the severance tax on oil is expected to be set at $ 21.38 per ton, whereas in the previous version the assumed rate was $ 21.65, in 2016 - $ 23.92 versus $ 24.39, in 2017 - $ 25.65 versus $ 26, 55. The current legislation allows for MET at $ 14.81 in 2015, at $ 15.62 in 2016 and 2017. "The MET (growth rate - Ed.) is reduced, the other parameters of the tax manoeuvre remain unchanged", - the agency interlocutor stated.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer