|
|
Article: Duma approves bill on zero NRET for oil from Black Sea, Sea of Okhotsk.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- September 25, 2009
CopyrightCOPYRIGHT 2009 Gale acknowledges Publisher's copyright in the text of the Publication and shall place users of that text on notice of that copyright interest. 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)
|
Duma approves bill on zero NRET for oil from Black Sea, Sea of Okhotsk
MOSCOW. Sept 25 (Interfax) - The Russian State Duma has approved in a first reading a bill providing exemptions to the natural resource extraction tax (NRET) for oil extracted at fields in the Black Sea and the Sea of Okhotsk.
The bill would reduce the NRET for oil rate to zero for fields lying entirely or partially in the Black Sea or the Sea of Okhotsk.
The zero rate would apply in the initial phase of development, until cumulative production reaches 20 million tonnes for Black Sea fields and 30 million tonnes for those in the Sea of Okhotsk, on condition that development ...