| |
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


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
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.