Insight
Russian upstream taxation – room for manoeuvre?
This report is currently unavailable
Report summary
Tax changes in effect from 1 January 2015 were designed to promote modernisation of Russian refining, harmonise oil taxes in the Eurasian Economic Union, protect the oil and gas sector contribution to the Russian federal budget, and ensure development of frontier and hard-to-recover oil continues. In the low oil price environment, however, most Russian upstream companies will face higher tax payments. Only a handful of projects will benefit, most notably Gazprom’s East Siberian gas fields.
Table of contents
- Executive Summary
-
Introduction
- Mechanics and upstream implications of the tax manoeuvre
- Export oil
- MET burden increases on fields with tax benefits
- Export duty reduced rate remains advantageous
- Time for the state to reap the tax benefit of condensate production
- Gazprom secures further tax reductions for its East Siberian assets
- Conclusions
Tables and charts
This report includes 10 images and tables including:
- Russian upstream taxation – room for manoeuvre?: Image 1
- Tax manoeuvre
- Barrel breakdown for exported oil, conventional fields (Urals oil price US$60/bbl)
- Tax burden comparison of a barrel of exported oil
- Barrel breakdown for domestic oil, conventional fields (export oil price US$60/bbl)
- Reduced oil MET rate comparison in 2015 (export oil price US$60/bbl)
- Reduced export duty comparison in 2015 (export oil price US$60/bbl)
- Reduced export duty threshold prices
- Isolated effect of the condensate MET increase in 2015-2020 – top nine producing fields/entities
- Isolated effect of East Siberian tax breaks for Gazprom fields
What's included
This report contains:
Other reports you may be interested in
Insight
Global upstream fiscal terms database
In this easy-to-use Excel workbook we summarise over 150 countries’ fiscal terms for the latest exploration opportunities.
$1,350
Asset Report
Yuri Korchagin
The Yuri Korchagin oil, gas and condensate field lies in the Russian sector of the Caspian Sea, only 40 kilometres from Vladimir ...
$3,100
Asset Report
Druzhba Pipeline
Druzhba is the heart of the Transneft-operated pipeline network. The pipeline was completed in 1964 and has been the major pipeline ...
$2,150