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Statutory Framework of the Oil and Gas Industry

Statutory Framework of the Oil and Gas Industry

Vladimir Putin has outlined approximate framework of the new political system. However, as always, the devil is in the detail – dispute around the strategy of oil and gas industry development and control of it by power clans is not over. This dispute spills into the statutory regulation sphere. The "old" Duma did not pass all bills that it had planned and many of those may be earthshattering for the industry. Discussions around them will continue under the new president and new parliament.

The study focuses on the following subjects

  • Statutory conditions for nonresidents and reserves' distribution issue

    • Views of power clans on the bill regulating access to strategic fields for foreign investments and new editions of the Subsoil and Shelf laws.
    • Possible changes to the bills after Dmitry Medvedev's election as president and government reshuffle
  • Problems in the regulation of the industry

    • Technical issues associated with the regulation of the oil and gas industry, environmental impact audit by the government.
  • Statutory framework of hydrocarbon exports

    • Possible debates around changes to gas export pattern, new edition of the Major Pipeline Transport Law.
  • Legislative changes to the industry's tax regime

The content of the report:

Introduction 2
Chapter 1. Statutory Conditions for Nonresidents and Reserves’ Distribution Issue 3
Chapter 2. Struggle for Tax Treatment Change 24
Chapter 3. Regulation of Hydrocarbon Exports 33
Chapter 4. Problems of Technical and Environmental Control of Oil and Gas Industry in Russian Legislation 40
Chapter 5. New Duma – a Tool to Change Regulations 49
Expected Developments 54

 Valume: 56 pages

Issue date March 11, 2008

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

State regulation of the oil and gas sector in 2018, prospects for 2019
Gazprom on Path to New Reality
Looking for Best Tax Treatment of Oil and Gas: Fiscal Experiments Continued
The subject of taxation became the absolute hit of 2018. The government once again decided to rewrite the rules of the game. President Putin’s new inauguration decree served as the main pretext. It turned out that about 8 trillion roubles extra was necessary for the new national projects announced. The Cabinet did not take long to decide where the funds should be taken. The result was acceleration of the so-called tax manoeuvre started as far back as 1 January 2015. It suggested shifting the tax burden to the wellhead: the effect on the state budget of gradual abandonment of the export duty will be more than compensated for by quicker growth in mineral resources extraction tax (MRET). The laws on tax reform have already gone through the parliament and will take effect as of next year. This means nothing good for companies.
Results of Pivot to the East in Oil and Gas Sector
New government structure and FES: Reformatting the state system administrating the sector

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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