CORRECTED-Russia mulls futher oil tax cuts - Sechin

Wed Jul 9, 2008 1:38pm EDT
 
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(Corrects to clarify the government is planning to reduce taxes on the oil sector but not oil export duties)

MOSCOW, July 9 (Reuters) - Russia's government is working to further cut oil taxes but is not planning to change the current export duties system and is unlikely to make further cuts to the mineral extraction tax on oil, a top official said on Wednesday.

Deputy Prime Minister Igor Sechin told a briefing he was not concerned about stagnation of Russian oil production in the first six months of this year, as new fields were coming on stream to help the country sustain production levels.

"I'm not worried much about the output decline ... Tax cuts should also add to the positive effect," Sechin said. (Reporting by Denis Dyomkin, writing by Dmitry Zhdannikov; editing by Gleb Bryanski)

 

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