Currently the government is discussing the issue of withdrawal of additional revenues from the oil industry in 2016 and freeze export tariffs at the level of 42%. In “Rosneft” consider that such measures could harm the economy of Russia.
VERONA (Italy), 22 Oct. “Rosneft” will survive the freeze export duties, but it is harmful to investment activities, said Advisor to the President of “Rosneft” on economic strategy Victor Ivanter in the margins of the Eurasian forum.
“I think that it to anything good will not. It’s still a blow to investment activity, it is harmful. The company will survive, but for the Russian economy this bad,” said the Director, answering the question, how will it affect the decision on freezing of export duties on oil in 2016.
Currently the government is discussing the issue of withdrawal of additional revenues from the oil industry in 2016. Initially, the Finance Ministry has proposed to freeze the level of export duty for 2016 at the 2015 level, in 42% instead of planned decrease to 36%. Due to this correction of the big tax maneuver, as expected, the budget will receive about 200 billion rubles of additional revenues in 2016.
However, the energy Ministry and oil companies have opposed this proposal of the Ministry of Finance. In particular, the Ministry of energy has proposed an alternative option is to freeze the duty only 8 months of 2016. This measure could give the budget in 2016 to 133 billion rubles of additional revenues, and other funds were requested to obtain due to the growth of the tax base from increased oil production. In this regard, even the Ministry of energy raised its forecast for oil production in 2016 up to 533 million tons.
Minister of energy Alexander Novak had expected the decision to freeze duty only 8 months of 2016 is final, however, recently it became known that the draft budget for 2016 suggests a freeze export duties on oil all for the whole year. On Thursday said the first Vice-Premier Igor Shuvalov. Novak also reported that the freezing of the duty on all 2016, oil production in Russia will fall by 7-10 million tons and neproverennye will remain around 2 thousand wells, investments in oil and gas industry will be reduced in proportion to the proposed exemptions.
The fourth Eurasian forum in Verona is held together by the Fund forum and the Association “conoscere Eurasia”. SPIEF 2012 has been holding international sessions and supporting international business events in key regions of the world, including Eurasian forum.