Bashneft Consolidates Refining Units for Tax Reasons

摘要

Russian regional oil producer Bashneft has announced it intends to change the corporate status of several refining subsidiaries and place them under the Bashneft equity umbrella as a result of Moscow’s new “60-66” tax regime. Ufa-refinery, Novoil (Nova-Ufa refinery), Ufaneftekhim, Bashkirnefteprodukt and Orenburgnefteprodukt are to be affected by the Mar. 11 reorganization announced by Bashneft. The boards of directors of Bashneft and the subsidiaries conducted meetings Sunday to discuss the proposed changes.