The Ministry of Finance is considering increasing the tax burden on the entire oil industry as compensation for lost revenues that will arise due to the tax benefits of developing the Priobskoye field of “Rosneft” and “Gazprom oil”.
As calculated in the Ministry of Finance, in the ten years of lost income from this measure will amount to 600 billion roubles. In this regard, study of proposals to increase tax on mineral extraction (met) for oil and the mineral extraction tax for associated petroleum gas (APG), which is a by-product of oil production anywhere is not taxed, according to the newspaper “Kommersant”.
The newspaper reminds that earlier the President of Russia Vladimir Putin has approved tax deductions on severance tax for the Priobskoye field — the Northern part, which “Rosneft” and South of “Gazprom oil”.
The first requested a ten-year deduction of mineral extraction tax by 46 billion rubles a year, and “Gazprom oil” — on 13,5 billion roubles in 2020.
Note also that earlier the President instructed to establish a moratorium on providing new measures of state support in the development of oil deposits of the Russian Federation to complete the inventory. An appropriate moratorium is introduced, to 31 December 2019.
This week it became known that the Ministry of Finance considers it reasonable to freeze all benefits for oil and gas projects in the Arctic, suggesting that these temporary restrictions will be in effect until the end of the inventory of reserves on the subject of the economic efficiency of their development in the current fiscal environment.
Earlier, in spite of the moratorium (up to 2020) for new measures to support oil and gas projects, the benefits insisted “Rosneft”, which promotes “Vostok oil” Arctic project “Neftegazkholding” Eduard Khudainatov, thereby threatening to disrupt the plans download the Northern sea route.