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Article: Russia to consider tax holidays for oil fields in Black Sea, Sea of Okhotsk.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- July 22, 2009
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Russia to consider tax holidays for oil fields in Black Sea, Sea of Okhotsk
MOSCOW. July 22 (Interfax) - The Russian government presidium plans to consider granting "tax holidays" to spur development of oil fields in the Black Sea and the Sea of Okhotsk, the Cabinet's press service reported.
"The need for the bill stems from the advisability of creating a favorable climate for developing oil fields located in those seas with the aim of boosting oil production," the statement said.
The draft law would reduce the natural resource extraction tax to zero for oil ...