Moscow—Independent Russian crude producer Ruspetro expects new mineral extraction tax breaks on hard-to-extract reserves, approved by the Russian government earlier this week, to have a “significantly positive” financial impact on its operations in the West Siberian region of Khanty-Mansi. About 97% of the company’s current crude production is eligible for an 80% reduction in MET, applicable to reserves located in the Tyumen formation, Ruspetro said in a statement released Friday.
展开▼