With Tax Breaks in Hand, Russian Oil Firms Test Shale Oil Skills

摘要

Russia has been slow to tap its unconventional oil and gas resources, but with the US overtaking its position as the world's largest oil and gas producer, Russian oil companies are now snapping into action. New tax breaks introduced to spur development of "hard-to-recover resources" came into effect on Sep. 1, improving the economics for Russia's vast unconventional oil plays. Most of Russia's largest oil companies, including state-controlled Rosneft and Gazprom Neft as well as private Lukoil and secretive Surgutneftegas, have started or are about to start pilot projects to develop tight oil. Regional producer Tatneft is also considering one.