|
|
Article: Kazakhstan Abruptly Adopts Controversial Export Tax.
- Article from:
- NEFTE Compass
- Article date:
- April 9, 2008
CopyrightCOPYRIGHT 2008 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Potentially staring down the gun barrel of financial trouble, the Kazakh government on Apr. 8 unexpectedly approved a measure that would allow the state to begin claiming a considerable chunk of the revenues from crude oil exports more than six months ahead of schedule. But the limited physical impact of the bill and the much broader negative impact it is expected to have on the country's investment climate have sparked a flurry of criticism and confusion.
The bill, signed by Prime Minister Karim Massimov, establishes an oil export duty of $109.90 per metric ton ($15 per barrel). That tax comes into effect 30 days after its official publication in state media, ...