Related Articles
Forward article link
Share PDF with colleagues

Tax overhaul heaps pressure on Russian refiners

More expensive feedstock threatens independent operators

Russia's biggest oil tax overhaul in decades is having a profound impact on its refining sector, forcing operators to upgrade their plants or risk being forced out of the market. The changes introduced this year have also put pressure on domestic fuel prices—a politically sensitive issue—and could spur further consolidation of the industry. Russian refining margins have further weakened this year following the launch of Moscow's so-called 'tax manoeuvre'—a six-year plan to phase out export duties on crude oil and petroleum products and raise mineral extraction tax (MET). While the reforms will enable Russian oil exporters to better compete, they will also drive up the cost of domestic feeds



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Tullow sees progress in Kenya
21 June 2021
The company might not have given up on its Kenyan ambitions
Adnoc presses the upstream accelerator
21 June 2021
Abu Dhabi has resumed the chase towards long-term capacity targets
Var hits oil in Balder Area probe
21 June 2021
The firm’s NCS near-field exploration strategy pays off again
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video