Search for Tax Breaks

13.03.2014 Poland promises tax breaks to shale gas explorers

The Polish cabinet has approved a belated draft law that will offer a six-year tax break for companies involved in the extraction of shale gas, PAP reported on March 12. 

07.02.2014 Russian oilmen to receive tax breaks for geological prospecting

The Russian environment ministry has asked the government to stimulate geological prospecting with tax breaks and to introduce punishment for the failure to meet obligations regarding geological prospecting.

21.01.2014 Chinese Haicheng to build oil drilling equipment plant in Russia’s Bashkortostan

The Chinese company Haicheng Petroleum Machinery Manufacture is going to build an oil drilling equipment plant in Bashkortostan, RIA Novosti has reported, citing the press service of the Bashkortostan president.

10.01.2014 China Boosts Shale Gas Production

China increased shale gas production to 200mn cubic meters in 2013, the country’s ministry for mineral resources has reported. This is up from 30-50 million cubic meters of shale gas produced in 2012. Sinopec and PetroChina launched facilities designed to produce 600m cubic meters of shale gas, Bloomberg has reported, citing the ministry. In particular, Sinopec is going to increase shale gas production to 3.2bn cubic meters by 2015.

25.11.2013 Chevron Downbeat on North Sea Rosebank Oil Project

US oil giant Chevron has warned it may not be economically viable to proceed with a planned $10bn North Sea oil project, in a blow to hopes of a revival in the region, The Telegraph reported on November 22.

18.11.2013 Russian Energy Ministry Does Not Expect New Tax Breaks for Yamal LNG

Yamal LNG will not expect tax breaks despite growing expenditure, Russian Energy Minister Aleksandr Novak has said.

31.10.2013 China Announces New Guidelines for Shale Gas

The National Energy Administration announced new guidelines for shale gas on October 30 that aim to increase output of the fuel and thus improve China's energy security, China Daily has reported.

03.10.2013 Massive Tax Breaks on Russian Shelf

The Federation Council, the upper chamber of the Russian parliament, has approved a comprehensive tax legislation reform on shelf projects, RIA Novosti has reported. Companies engaging offshore will be subjected to favourable tax and customs regulations.

02.10.2013 Over 800 Russian Oil Fields To Be Entitled To Tax Breaks

More than 800 Russian oil fields are entitled to tax breaks, Russian deputy natural resources minister Denis Khramov told the 12th international investment forum in Sochi. His report was entitled “On the fiscal aspects of raw materials production”.