Next year country’s income in oil industry will drop by 3% on 2013 result

22 august 2014 | Rossiyskaya Gazeta

Prices on petrol will probably rise in Russia next year despite a 3% decrease of tax burden. It will grow for oil extracting companies while exporters of crude oil and fuel will gain from the reform.

Alexander Kurdin
Alexander Kurdin
Department for Fuel and Energy Sector

“Next year the state’s income in oil industry will show a 3% decrease on the 2013 result which is RUR200 billion,” the Head of Department for Strategic Studies in Energy Alexander Kurdin told Rossiyskaya Gazeta. These are significant losses for the budget but they can be compensated by the growth of income tax for oil companies, according to the expert.