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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
