Discount according to the rules

Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented to the Kommersant newspaper on the adjustment of the oil sector taxation.

As Kommersant wrote, from September it is planned to cut damper payments for oil companies, as well as to reduce the maximum discount of Urals to Brent when calculating oil taxes to $20 per barrel.

The net effect for the budget from reducing the damper and reducing the severance tax rate in 2023 could amount to 140 billion rubles, Sergey Kondratiev estimated. The effect of limiting the discount on Urals from September will be, in his opinion, "virtual", since the discount is already at the level of $20-21 per barrel, "and this is fixing the status quo." According to his estimates, the delay in granting incentives for depleted fields from 2024 will allow the budget to save 100-120 billion rubles per year.