Rosneft to decide the fate of tax manoeuvre

The discussion of the Ministries of Finance and Energy about tax manoeuvre in the oil industry has been completed by adoption of the variant of the Alexander Novak’s department. But the fate of the manoeuvre hasn’t been completely solved: Rosneft opposes the changes, proposed by officials, pointing to the risk of loss for the company. The final decision should be made in June, after consultation with oil companies.
Last week, President Vladimir Putin ordered the Government to accelerate the definition of parameters of the tax manoeuvre, which provides for reduction of export duties on oil products and concurrent increase of oil MET. It is a question of a few weeks, said director of the Ministry of Finance’s tax policy department Ilya Trunin on Monday. According to him, the parameters must be determined in June.