Insight
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13 Pages

Russia Refines its Oil Tax Manoeuvre


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.

What's included?

This report includes 1 file(s)

  • Russia Refines its Oil Tax Manoeuvre PDF - 1.25 MB 13 Pages, 1 Tables, 16 Figures

Description

This Refining and Oil Products Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an alternative point of view to help inform your decision making.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information.

Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Executive Summary
  • Introduction
    • 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

In this report there are 17 tables or charts, including:

  • Executive Summary
  • Introduction
    • 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
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