Research (J&T BANKA)
World markets  |  October 16, 2012 09:14:58

Rosneft: Russia will reduce export duties on crude oil and some petroleum products

Russia will decrease from November export duties on crude oil and some petroleum products. Overall reduction of export duties should represent 3.4%. Another plan is to continue to reduce export duties in 1Q13, to promote the export of oil and the goal set by Vladimir Putin to produce more than 10 miles barrels of oil per day for at least the next ten years. The report is important for a company Rosneft.

It will need to continue to apply to the Ministry of Energy before being able to conduct transactions with BP or AAR regarding TNK-BP project. Expression Minister Novak rather may indicate willingness of the government to interfere in the negotiations relatively private companies.
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