DALLAS, February 27, 2015 /PRNewswire/ --
RnRMarketResearch.com adds Russia Upstream Fiscal and Regulatory
Report that presents essential information relating to the terms
which govern investment into Russia's upstream oil and gas sector.
The report "Russia Upstream Fiscal and Regulatory Report"
sets out in detail the licensing framework under which firms must
operate in the industry, clearly defining factors affecting
profitability and quantifying the state's take from hydrocarbon
production. Considering political, economic and industry specific
variables, the report also analyses future trends for Russia's upstream oil and gas investment
climate. Key topics include an explanation of the latest Mineral
Extraction Tax and export duty provisions, information on the terms
of production sharing agreements for Sakhalin and Kharyaga and an
assessment of the current fiscal regime's attractiveness to
investors against regional peers.
The recent changes in the taxation of Russia's oil and gas sector reflect both the
country's pivot eastward and the special treatment afforded to its
state-controlled energy companies. According to GlobalData's
Upstream Fiscal Analyst, the so-called 'tax maneuver' shifts the
tax burden from export duty on oil and petroleum products to
Mineral Extraction Tax (MET) on oil production. It will gradually
reduce Russia's marginal rate of
export duty to 30% in 2017, while increasing the base rate of MET
to RUB919/tonne.
The primary motive for this is to harmonize Russian export duty
with that existing in other Eurasian Economic Union countries,
particularly Kazakhstan and
Belarus, in preparation for the
development of a common energy market between 2018 and 2025. While
the simultaneous MET hike and duty reduction means that the change
is relatively neutral for oil exporters, profit margins in the
refining sector are likely to be hit. Order a Purchase copy of
this report
@ http://www.rnrmarketresearch.com/contacts/purchase?rname=210351
. (This is a premium report priced at US$1000 for a single user License.)
Additionally, new tax breaks targeted at state-owned Gazprom's
Chayandinskoye and Kovyktinskoye gas fields and the $21 billion Power of Siberia pipeline have been granted, adding to
the strategically important projects receiving preferential
treatment. This trend is already benefiting projects supplying
China and is likely to extend to
other Asian partners, with India's
ONGC Videsh looking to capitalize on strong economic ties between
the two countries to secure tax breaks on Russian projects.
However, the latest report "Russia Upstream Fiscal and
Regulatory Report" states that although the tax maneuver
has only recently been implemented, there are already doubts over
its longevity. The head of the State Duma's energy committee said
that there is a possibility of the maneuver being revoked if
gasoline prices rise significantly, and a draft bill to this effect
has already been submitted. However, the energy minister
contradicted these remarks, saying that a U-turn was not being
considered.
Russia's fiscal regime is
notoriously prone to fluctuation, and this is expected to continue
through the medium term. A reversal of the tax maneuver would be
the clearest demonstration yet of the regime's lack of stability,
which increases the level of commercial risk in the sector.
Scope of "Russia Upstream
Fiscal and Regulatory Report" covers:
Overview of the fiscal and regulatory regime governing upstream oil
and gas operations in Russia;
Detail on legal framework and governing bodies administering the
industry; Levels of upfront payments and taxation applicable to oil
and gas production; Explanation of the latest Mineral Extraction
Tax (MET) and export duty provisions, along with their evolution
over time; Detailed information on the terms of production sharing
agreements for Sakhalin and Kharyaga; Assessment of the current
fiscal regime's attractiveness to investors against regional peers;
Outlook on future of fiscal and regulatory terms in Russia.
Reasons to buy
- Understand the complex regulations and contractual requirements
applicable to Russia's upstream
oil and gas sector
- Evaluate factors determining profit levels in the industry
- Assess current investment opportunities
- Identify potential regulatory issues facing investors in the
country's upstream sector
- Utilize considered insight on future trends to inform
decision-making
Explore more reports on Oil & Gas @
http://www.rnrmarketresearch.com/reports/energy-power/energy/petroleum-energy/oil-gas-petroleum-energy-energy-energy-power
.
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