The Ministry of energy informed of the decision to freeze duty on oil for the entire 2016

The Ministry of energy informed of the decision to freeze duty on oil for the entire 2016


Approved by Russian government the draft budget for 2016 suggests that the duty on oil exports will not decline throughout 2016. The question of obtaining additional revenues from the oil sector will be submitted to the presidential Commission on fuel and energy complex.

MOSCOW, 21 Oct. The Ministry of energy of the Russian Federation informed that the decision on the freezing time of export duties on oil has changed and will apply to all 2016, told reporters the first Deputy Minister of energy of the Russian Federation Alexey Teksler.

The Deputy head of the Ministry of Finance Maxim Oreshkin told reporters Wednesday that, overall, the government approved the draft Federal budget for 2016 suggests that the duty on oil exports will not decline throughout next year.

“Yes. The end of the year. We also know about this… we have such information that it (the decision on freezing of export duties on oil in 8 months of 2016 — ed.) has changed. Ask the Finance Ministry, why change the decision,” said Teksler journalists.

The government of the Russian Federation on 10 October submitted to the state Duma a bill to freeze the reduction of export duties on oil, rate to calculate the fee in 2016 is proposed to maintain the level of 2015 — 42% instead of planned decrease to 36%. The Ministry of Finance suggests that freeze export duties on all 2016 will provide the budget of 200 billion rubles of additional revenue due to the oil.

By energy Minister Alexander Novak said earlier that the tariff is proposed to freeze only 8 months of 2016. It was assumed that this will give budget in 2016 to 133 billion rubles of additional revenues, and other funds will be obtained through growth in the tax base from increased oil production. The Ministry of energy raised its forecast for oil production next year to 533 million tons. Novak expressed the hope that the decision to freeze export duties on oil only until 1 September 2016 is final.

Sources said that the issue of obtaining dodokhov with the oil industry in 2016 will be submitted to the presidential Commission on fuel and energy complex, the final decision on the matter is still pending. A corresponding draft decree of the government no I’m not.