Putin Declared a Moratorium on a State Support for the Development of Oil Fields
OREANDA-NEWS. Russian President Vladimir Putin declared a moratorium on the new state support measures in the development of Russian oil fields till the completion of the inventory.
The moratorium will be in force till December 31. The President also ordered to complete the inventory of oil fields for investigation of the economic efficiency of their development in the current tax conditions till December 1. The government should develop uniform criteria and requirements for economic justification and the procedure for granting state support in the development of the oil field fields.
Mikhail Leontyev, a spokesman of Rosneft company, being asked about the moratorium on state support for oil production before the completion of the inventory of existing tax benefits, answered: “The President knows better. We are not in a hurry. We can wait till December, if the state can wait too. The inventory of the benefits is necessary. It will show which benefits do not work and which are efficient for the budget.”Mikhail Grigoriev, the CEO of Gekon consulting company, said about this matter: “The development of requirements for economic evaluation and the definition of uniform criteria is a necessary act. It will allow to apply a systematic approach to providing state support measures in the development of oil fields, it will put oil companies in equal conditions, which will make the investment environment of the oil and gas complex more transparent and predictable.” “The deadline for the development of common criteria by the end of the year, within 5 months, is not so long… for the projects whose requests for benefits have been sent to the government recently,” the top manager added.