Some positive results have been achieved since a tax reform was kicked off in the Russian oil sector late in 2014. The 2014 – 2017 period saw an increase in the average depth of oil refining in Russia. Despite ongoing disputes, now is a good time to complete the so-called “tax manoeuvre”...

The approved tax code amendments will cap a discount on Urals oil price to North Sea Dated for the calculation of oil taxes. By our estimates, amendments may bring an additional of around Rb640bn into the budget in 2023. However, the mechanism incorporated in the amendments entails the risk of a...

A tax maneuver in the oil and oil refining industries contributed to some changes in the pattern of production of petrochemicals: the total volume of oil refining decreased, while the volume of production of motor gasoline increased somewhat. It is to be noted that the tax maneuver had an effect...