MOSCOW Feb 13 Russia's Deputy Energy Minister
Pavel Fyodorov, who served as state oil company Rosneft's
top financial official before joining the government,
has resigned, the ministry said on Wednesday.
Fyodorov is close to Rosneft CEO Igor Sechin and sources
close to both men have said he was likely to rejoin the oil
company after a stint in government, where he was responsible
for tax reform and foreign investment.
A major Fyodorov initiative, tax breaks designed to coax oil
companies to investment in shale and other "tight" oil projects,
where oil is difficult to extract, has yet to be formalised.
Fyodorov has assured investors that these tax breaks would
pass by the end of the first quarter.
Those tax breaks, along with a package of tax holidays on
investments in Arctic offshore provinces, must pass in order for
Rosneft to proceed with exploration ventures with ExxonMobil
and other international oil companies.
Sechin took over at Rosneft last year after leaving the
government, where he was deputy prime minister to Vladimir
Putin. He is building his management team and has hired a number
of Fyodorov's former colleagues from Morgan Stanley to run the
company's banking arm.