SLOW RUSSIAN OIL
Seven months after Russia made the latest changes to its oil tax regime, the industry seems to have been able to adapt more easily to the new landscape than had been expected at the turn of the year.
However, market experts have warned that the government must consider more fiscal reforms as the current system is continuing to distort the sector.
The so-called tax maneuver, which includes a phased reduction in export duty for crude and oil products over 2015-2017 and an increase in oil extraction tax, was introduced in January.
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