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Russia tax breaks for shale, offshore oil seen on Jan.1

2013-03-18 07:04:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Russian tax breaks for shale and offshore oil, to unlock millions of barrels, will come in to force on Jan. 1 2014, a Finance Ministry official said on Monday. The tight oil tax package will make Russia one of the few countries to incentivise the production of energy resources from shale and other 'tight' rock. The package will cut the tax burden which is one of the world's highest for oil and gas production and exports and prevents investment in fracking and other expensive unconventional...

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