Changes in the regulation of fuel and energy complex in Russia and in the world in I quarter of 2015

23 april 2015

Experts of the Analytical Center continue a series of quarterly reviews on the regulation of the fuel and energy complex in Russia and in the world. The paper analyzes the data for the I quarter of 2015.

Experts considered introduction of the tax on financial result for the Russian oil industry. Among other innovations, they have analyzed the procedure for determining parameters used in the calculation of mineral extraction tax on natural gas and gas condensate, granting subsidies to regions for 2015 for the natural gas motor fuel, promoting the use of renewable energy sources in retail electricity markets and updating a set of measures for the transition to the best available technology (BAT).

The review also focuses on planned changes - prerequisites for the introduction of rules for the prevention and elimination of accidents on land, the introduction of fees for unused reserves of capacity in networks, additional rules for Fuel and Energy complex and others.

Among changes that have occurred in the world, experts have paid attention to a major reform of the tax regime for the oil and gas production in the North Sea (UK), the improvement of subsoil use in Kazakhstan, raising taxes on the extraction of natural gas in Ukraine and the introduction of new licensing regulations in the mining industry of India.

Moscow Oil and Gas Center EY participated in the preparation of the review.