Accounting for scavenger oil to cost more than benefits on its extraction

Russian oil companies are most likely not to be able to use tax reliefs that stimulate the extraction of scavenger oil, which are proposed by the Ministry of Finance, the Governor of the largest Russian oil-producing region Khanty-Mansiisk autonomous district-Yugra, Natalya Komarova thinks.

The Ministry of Finance has proposed to set as the main directions of the tax policy decreasing coefficients of MET during development of fields that contain scavenger oil. The mandatory condition for the use of the decreasing coefficients to the MET rate is the provision of direct separate accounting of oil from scavenger oil reserves by companies, the RIA Novosti reports.