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Tax manoeuvre: turbulence ahead for Russian refining margins?

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09 March 2021

Tax manoeuvre: turbulence ahead for Russian refining margins?

Report summary

In this analysis, we analyse the 'tax manoeuvre' in the Russian Federation. This tax reform has the objective of making domestic refineries invest to produce higher quality products and improve light and middle distillate yields. We take a detailed look at the government's formulae to support the refineries and forecast its impact on refining margins in the Russian Federation through to 2024 when the reform is meant to conclude.

Table of contents

Tables and charts

This report includes 6 images and tables including:

  • Development of components of the tax manoeuvre
  • Export duty on oil products, 2017-2024
  • Oil product export duties as % of crude oil export duty 2011-2020
  • 2019 and preliminary 2020 NCM based on the impact of tax manoeuvre
  • Preliminary NCM forecast 2019-2024, based on the impact of tax manoeuvre
  • Excise duties for class 5 gasoline and diesel

What's included

This report contains:

  • Document

    Tax Manoeuvre

    XLSX 106.08 KB

  • Document

    Tax manoeuvre: turbulence ahead for Russian refining margins?

    PDF 845.29 KB