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Russia's upstream oil and gas sector will see record gains over the next six years

 Last Update: 2022-12-28
 Source: Internet
 Author: User

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According to analyst firm GlobalData, Russia will see record gains
from its upstream oil and gas sector over the next six years.

Russia's upstream oil and gas sector will see record gains over the next six years

The data suggests that with Russia's oil export tariffs being phased out between 2019-2024, the mining tax (MET) rate will increase to compensate
.

This will boost already increased mining tax revenues, as well as fuel prices higher
.
Tax rates are directly related
to the price of crude oil in the Urals.

GlobalData said that the increase in gas export tariffs and the proceeds from the new profit-based tax pilot could bring the total budget revenue in the upstream sector to more than 9 trillion rubles, compared with a peak of 7.
4 billion rubles in 2014.

Scargill, senior analyst at GlobalData, said: "Oil prices have remained above
$70 per barrel in recent months.
This combination of tax changes, production growth and a weak ruble means that gains in the government's oil and gas sector will exceed the peak
in 2014.
“

，

According to analyst firm GlobalData, Russia will see record gains
from its upstream oil and gas sector over the next six years.

Oil and gas sector

Russia's upstream oil and gas sector will see record gains over the next six years

The data suggests that with Russia's oil export tariffs being phased out between 2019-2024, the mining tax (MET) rate will increase to compensate
.

This will boost already increased mining tax revenues, as well as fuel prices higher
.
Tax rates are directly related
to the price of crude oil in the Urals.

，

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