Moscow-Russia's industry and energy ministry has proposed eliminating the mineral extraction tax at initial stages of oil field development to encourage new projects,a ministry official said Aug 11.The measure is designed to help reverse the slowdown in the country's oil production growth."The introduction of a zero rate of mineral extraction tax at initial stages of field development will pave the way for tapping new fields," said Anatoly Yanovsky,head of the ministry's oil and gas department.
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