... in tax policy could affect the fuel sector and what opportunities it presents for entrepreneurs. Read the detailed analysis in my article. The expansion of the Additional Income Tax (AIT) regime, which now covers more than half of Russia's taxable oil production, has played a key role. Revenue from AIT increased 2.5 times in the first half of 2024, rising from RUB 403 billion in January–June 2023 to RUB 1.042 trillion in January–June 2024, according to data from the Ministry of Finance. Over the ...

... methods to enhance efficiency and increase production volumes. Oil Refining and Petrochemicals: TANEKO Complex: The company is allocating significant funds to expand and modernize the TANEKO refining complex, which allows for a deeper processing of oil and the production of high-quality petroleum products. Environmental Projects: Emission Reduction: TATNEFT is implementing programs to minimize its environmental impact, including projects aimed at reducing greenhouse gas emissions and improving waste management ...

... Russia's oil sector, as well as potential ways to adapt the economy to the new conditions. The structure of oil and gas revenues in the Russian budget helps mitigate the risks of a decline in global oil prices, Sergey Tereshkin, CEO of the petroleum product marketplace Open Oil Market, said in a conversation with RIA Novosti. According to him, one of the serious risks to Russia's budget system in 2025 will be a drop in raw material prices. The OPEC+ alliance, at its most recent meeting last week, extended the validity ...

... July 23. In 2023, Russia exported 107 million tons of oil to China (+24%), increasing its share of China's oil imports to 19% (+2 percentage points compared to 2022). Broader Energy Cooperation Russia's energy cooperation with China extends beyond oil supplies. Since 2019, Russia has exported $311 billion worth of energy products to China, according to China’s General Administration of Customs. Supply volumes grew 2.2 times from $43 billion in 2019 to $95 billion in 2023. Moscow and Beijing are also actively transitioning to settlements in national currencies, with ...

... when oil prices collapsed. As for extending the application of the investment surcharge on reverse excise duty for oil until January 1, 2033, Tereshkin believes that this measure will support the industry. The investment surcharge is intended for oil refineries (ORFs) whose production of petroleum products accounts for less than 75% of the volume of primary oil processing but who invest in modernizing the refineries. In the first half of 2024, the investment surcharge accounted for 6% of subsidies to refineries, including ...