Fitch: The tax manoeuvers in oil industry won’t affect Rosneft, Tatneft and Lukoil much

The tax manoeuvers presupposing an increase of oil MET with a simultaneous reduction of export duties for light oil products and oil won’t influence the vertically integrated oil companies where extraction exceeds processing, Fitch reports.

The agency mentions such companies as Rosneft, Tatneft and Lukoil. This is explained by the fact that the total amount of  the tax payments per barrel of exported oil will remain unchanged and lower oil export duty will result in the growth of non-regulated oil prices at the internal market and compensate for the higher MET. At the same time, the oil-refining margin will probably reduce.