Balanced Budget Within Reach as Oil Tax Breaks Wind Down

TNK-BP and Surgutneftegaz will have to pay full export duties for their two East Siberian oil fields from May, as oil prices shot to new peaks, a Finance Ministry official said Tuesday. TNK-BP’s Verkhnechonskoye field and Surgutneftegaz’s Talakan field have enjoyed large discounts on the export duty for more than a year. The government has already said it will cancel the preferential export tax for the huge […]