Russian Energy Ministry says favors stability in oil taxation

MOSCOW, Sep 19 (PRIME) -- Russia’s Energy Ministry favors stability in taxation of the oil and gas industry, Deputy Minister Kirill Molodtsov told reporters on Monday.

“In fact, the industry first of all needs stability. It is important for us to ensure the level of production in 2020, 2022, and 2027. In this sense, the energy strategy, which is already at the final stage of preparation for a report at the government. How can an industry that lives long cycles of five years and more work in a regime of constant volatility?” he said when asked about the ministry’s position over state-owned Rosneftegaz’ recent proposal not to change taxation in the oil industry during three years.

“We understand the government’s priorities, but in any case we ask for stability,” he said.

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