Russian Federation upstream fiscal summary
Report summary
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty - Mineral Extraction Tax (MET)
- Ring fencing
- Base
- Onshore oil MET rate
- Onshore gas and condensate MET rate
- Offshore MET rate
- Payment schedule
- Export duty
- Ring fencing
- Base
- Onshore oil and condensate ED rate
- Onshore gas ED rate
- Offshore ED rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Other taxes
- Property tax
- Additional profit tax (APT)
- Fiscal treatment of decommissioning
- Product pricing
- Liquids pricing
- Natural gas pricing
- Summary of modelled terms
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
- Investor IRR versus pre-share IRR - oil
Tables and charts
This report includes 46 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore , oil
- Effective royalty rate - onshore , gas
- Effective royalty rate - shelf/deepwater , gas
- Maximum government share – onshore, oil
- Maximum government share – onshore, gas
- Maximum government share – shelf/deepwater, gas
- State share versus pre-share IRR - oil
- State share versus pre-share IRR - gas
- Investor IRR versus pre-share IRR - oil
- Investor IRR versus pre-share IRR - gas
- Bonuses, rentals and fees
- Indirect taxes
- Base oil MET rate (set by law) and marginal oil MET rate (calculated by Wood Mackenzie)
- Oil MET increment
- Field depletion coefficient
- Low permeability coefficient
- Low permeability MET exemptions
- Reservoir depletion coefficient
- Duration conditions for the quality and regional coefficient
- Regional conditions
- Gazprom fuel unit base rate surcharge
- Condensate export duty (for MET calculation only)
- Gas depletion coefficient
- Location coefficient
- Depth coefficient
- Transportation coefficient
- Condensate surcharge coefficient
- Offshore MET rate
- Oil Export Duty
- Correction multiplier
- Offshore ED rate (from 1 January 2016)
- LPG Export Duty
- Depreciable Life of Selected Oil and Gas Assets
- Russia standard concession - oil
- Russia standard concession - gas
What's included
This report contains:
Other reports you may be interested in
24 March 2023
Russian Federation upstream summary slides
Russian Federation upstream summary slides
To complement our more detailed upstream summary we provide a slide-pack of the key issues.
$4,75023 March 2023
Russian Federation upstream summary
Russian Federation upstream summary
Russia is one of the top oil producers in the world, alongside Saudi Arabia and the US.
$9,45025 May 2023
Somalia upstream fiscal summary
Somalia upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650