Russia Oil and Gas

Head of State Duma’s Budget Committee estimates customs subsidies for refineries at 11 trln

Russian refineries don’t allocate enough funds for modernization compared to the so-called customs subsidy provided to them.

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Akron to increase the output of carbamide ammonia mixture to 1.4 million tons per year at Novgorod site

Akron "will increase the production of carbamide-ammonium mixture (CAM) from 1.29 to 1.4 thousand tons per year at the Novgorod site,"  the company informed.

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In the first 5 months, oil production in Yakutia grew by 13%

In January-May 2018, result of hydrocarbons extraction in Yakutia made up 4.72 million tons, the republican Ministry of Industry reported.

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Ufaorgsintez plans to allocate more than 2 billion rubles for its development during the year

Ufaorgsintez, a petrochemical asset of Bashneft, plans to invest over 2 billion rubles in its development during the year, the company's annual report says.

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Gazprom Neftekhim Salavat stops polyethylene production for planned repair from July 1

Gazprom Neftekhim Salavat has stopped production capacity of polyethylene for scheduled repairs, the Market Report informs.

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State Duma adopts in second reading bill on excess profits tax and reduction in excise taxes on fuel

The State Duma adopted in the second reading a bill on the introduction of tax on excess profits from the production of hydrocarbons and the reduction of excise taxes on fuel.

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Russian State Duma increases MET for Gazprom during the second reading

The Russian State Duma has adopted in the second reading a bill that will increase the tax on extraction for Gazprom. This will happen in September-December 2018.

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In the first 6 months, Russia increased export of LNG to countries of Asia-Pacific region by 41.5%

In January - June 2018, export of liquefied natural gas (LNG) from Russia to the Asia-Pacific region increased by 41.5% and amounted to 11 billion cubic meters.

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A new acceptance point to be built on the territory of the Afip Oil Refinery.

Glavgosexpertiza of Russia has considered the construction project on the territory of the Afip Oil Refinery of the acceptance point.

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Results of Udmurtneft’s annual general meeting of shareholders

In the course of the annual general meeting, shareholders of Udmurtneft, a joint venture of Rosneft and Sinopec, have decided to pay final dividends for 2017 in the amount of 1163.74 rubles per sha

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