Russia looks to streamline oil taxation
The Kremlin has made a surprise move to reform its complex system
Russia is planning a sweeping overhaul of oil taxation as it looks to replenish its coffers and simplify a system that has grown increasingly complex and difficult to navigate over the years. While the net impact to producers from these changes is negative, some will lose out more than others. The Duma, the lower house of Russia’s parliament, approved at a first reading draft this week oil tax legislation submitted by the finance ministry. It will require two more readings, likely undergoing revision in the process. The proposals are part of a larger tax package prepared by the government. The plan, as it stands, is to do away with mineral extraction tax breaks for mature oilfields and those

Also in this section
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
CEO argues the upstream potential remains huge as analysts question future oil production for Canadian province’s offshore industry
13 June 2025
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU