Energy Ministry to work out stimuli for tight oil production

MOSCOW, Mar 28 (PRIME) -- Russia’s Energy Ministry plans to work out proposals to expand the excess profit tax in 2023 in order to simulate development of hard-to-recover and non-commercial oil reserves, Minister Nikolai Shulginov said on Tuesday during a ministry meeting.

“As regards to the oil and gas sector in 2023, we … will work out the problem of stimulation of production of hard-to-recover and non-commercial oil through expansion of excess profit tax,” he said.

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