Russia Cancels Offshore Drilling Rig Import Duties

Wednesday, January 23, 2008
Reuters reported that Russia has abolished for two years import duties and customs taxes for offshore drilling rigs temporarily imported to Russia for exploration work, the government said on Tuesday. The measure is the first step toward a long-discussed reduction of taxes for energy companies exploring offshore fields, which are expected to contain massive oil and gas reserves but are more expensive to develop than onshore fields.

The government said it had cancelled customs duties and taxes for offshore rigs to be rented by a Russian citizen from a foreign owner for five months. The government has also been discussing the idea of mineral resource tax breaks to develop offshore fields -- a benefit similar to that introduced last year for the underdeveloped but resource-rich region of East Siberia. Among the companies most interested in the benefits are state-controlled oil firm Rosneft and gas giant Gazprom which are developing major projects offshore the Pacific island of Sakhalin. Also concerned is privately owned Lukoil the country's second biggest oil producer, which is developing deposits in the Caspian Sea. Russia has said its offshore deposits could contain billions of barrels of oil and gas reserves, but has signaled all major blocks will be awarded at closed tender to state-owned companies, such as Rosneft and Gazprom. (Reporting by Tanya Mosolova) Source: Reuters

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

French PM: Aussie Subs to be built in Australia

French Prime Minister Manuel Valls said on Monday he was committed to building all of a new Australian submarine fleet in Australia, apparently contradicting the

Asia-N.Europe Box Rates Jump 170 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday,

NAT Acquires Four 150,000dwt Tankers

Nordic American Tankers Limited ("NAT" or the "Company") announced today that it has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard.

Offshore

Wind-powered Oil Recovery Project Green-lighted

The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that  wind-powered

Barge Master Wins Innovation Award at OTC

The Barge Master T40 motion compensated knuckle boom crane has been recognized for technological innovation, winning the Spotlight on New Technology Small Business

Keppel Acquires LeTourneau

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0814 sec (12 req/sec)