Insight

Russia Refines its Oil Tax Manoeuvre

This report is currently unavailable

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

11 November 2014

Russia Refines its Oil Tax Manoeuvre

Report summary

Proposed changes to Russia’s crude oil and oil product tax rates will have profound implications for Russia’s refining industry and is changing the balance in how upstream and downstream oil is taxed. The so-called ‘ ’tax manoeuvre” is a key piece of fiscal policy that, for the main part, seeks to ensure continued investment in refineries and ensure that Russian refining remains competitive in the global market through modernisation, without harming upstream production.

Table of contents

  • Executive Summary
    • Tax Manoeuvre (Current vs. Proposed)
    • Tax Manoeuvre
    • Upstream
    • Downstream
      • The Impact on Russia’s Refining Industry
        • Crude Netback Calculation
        • Investment by Unit Type (2014-2017)
        • 2017 Net Cash Margin Forecast
        • Net Cash Margin Forecast (Investment vs. No Investment)
        • Hydroskimming Refinery Margins (No Investments)
        • Semi-Complex Refinery (Low Investments)
        • Semi-Complex Refinery (High Investments)
      • Refinery Company Level EBITDA Forecast
        • Company Level Domestic Refinery Assets EBITDA Forecast
      • Downstream Sensitivities
        • Scenario One – High Crude Price Environment
        • Scenario Two – Less Amplified Crude Export Tax Reduction
        • Conclusions

Tables and charts

This report includes 17 images and tables including:

  • Russia Refines its Oil Tax Manoeuvre: Image 1
  • Russia Refines its Oil Tax Manoeuvre: Table 1
  • 2013
  • 2017
  • Refinery Asset Level Net Cash Margin Forecast
  • Russia Refines its Oil Tax Manoeuvre: Image 5
  • Russia Refines its Oil Tax Manoeuvre: Image 6
  • Russia Refines its Oil Tax Manoeuvre: Image 7
  • 2013
  • 2017
  • 2013
  • 2017
  • 2013
  • 2017
  • Russia Refines its Oil Tax Manoeuvre: Image 14
  • Russia Refines its Oil Tax Manoeuvre: Image 15
  • Russia Refines its Oil Tax Manoeuvre: Image 16

What's included

This report contains:

  • Document

    Russia Refines its Oil Tax Manoeuvre

    PDF 1.25 MB

Other reports you may be interested in

Browse reports by Industry Sector