Russia Upstream Fiscal and Regulatory Report - MET to Stabilize Tax Burden as Export Duties Phase Out

1.1. List of Tables
1.2. List of Figures

4.1. Royalties, Bonuses and Fees
4.1.1. Signature Bonus
4.1.2. Annual Rental Fee
4.2. Mineral Extraction Tax
4.2.1. Crude Oil
4.2.2. Condensate
4.2.3. Natural Gas
4.2.4. New Offshore Field Incentives
4.2.5. Mineral Extraction Tax Holidays
4.2.6. Special Deduction for Crude Oil
4.2.7. Tax deduction for NGLs Stripped from Condensate
4.2.8. Special Black Sea Deduction for Gas
4.3. Export Duty
4.3.1. Crude Oil
4.3.2. Natural Gas and LNG
4.3.3. Liquefied Petroleum Gas
4.3.4. Export Duty Exemptions
4.4. Additional Income Tax on Hydrocarbon Production (Pilot for Selected Fields)
4.5. Direct Taxation
4.5.1. Corporate Income Tax
4.5.2. Deductions and Depreciation
4.5.3. Investment Tax Deduction
4.5.4. Withholding Tax
4.6. Indirect Taxation
4.6.1. Value Added Tax
4.6.2. Import Duties
4.6.3. Property Tax
4.6.4. Land Tax
4.6.5. Excessive Flaring Fee

5.1. Royalties, Bonuses and Fees
5.1.1. Royalty
5.1.2. Bonuses and Other Fees
5.2. Cost Recovery
5.3. Profit Sharing
5.4. Taxation
5.4.1. Corporate Income Tax
5.4.2. Deductions and Depreciation
5.4.3. Value Added Tax
5.4.4. Tax Exemptions
5.5. Fiscal Stability

6.1. Legal Framework
6.1.1. Governing Law
6.1.2. Contract Type
6.1.3. Title to Hydrocarbons
6.2. Institutional Framework
6.2.1. Licensing Authority
6.2.2. Regulatory Agency
6.2.3. National Oil Company
6.3. Licensing Process
6.3.1. Auction Notice
6.3.2. Application Requirements
6.3.3. Auction Process
6.4. License Terms
6.4.1. Duration and Relinquishments
6.4.2. Work Obligation
6.4.3. Environmental Regulation
6.4.4. Local Content
6.5. Restrictions on Foreign Investment

8.1. References
8.2. Contact Us
8.3. Disclaimer

Table 1: Regime Overview
Table 2: Russia, Annual Rental Fees (RUB/km2)
Table 3: Russia, MET Base Rates - Crude Oil (RUB/tonne)
Table 4: Russia, Complexity Coefficient Values
Table 5: Russia, Oil MET - Periods in which KH = 0 for Specified Regions (Previously Regional Tax Holiday Periods)
Table 6: Russia, MET Rates - Condensate (RUB/tonne), 2011-June 30, 2014
Table 7: Russia, Notional Export Duty - Condensate (US$/tonne)
Table 8: Russia, Export Profitability Coefficient Values
Table 9: Russia, MET Rates - Non-Associated Gas, 2004-June 30, 2014
Table 10: Russia, New Offshore Field Incentives
Table 11: Russia, Export Duty - Crude Oil (US$/tonne)
Table 12: Russia, Marginal Export Duty Rates - Crude oil (%)
Table 13: Russia, Reduced Oil Export Duty (US$/tonne)
Table 14: Russia, Fields Eligible for Export Duty Reduction, 2019 onwards
Table 15: Russia, Export Duty - LPG (US$/tonne)
Table 16: Russia, Export Duty Exemptions
Table 17: Russia, Corporate Income Tax Rate (%)
Table 18: Russia, Depreciable Asset Classes
Table 19: Russia, Withholding Tax Rates (%)
Table 20: Russia, Maximum Property Tax Rates (%)
Table 21: Russia,Kharyaga Royalty Rates (%)
Table 22: Russia, Sakhalin I Bonuses and Fees (US$)
Table 23: Russia, Sakhalin II Bonuses and Fees (US$)
Table 24: Russia, Kharyaga Bonuses and Fees (US$)
Table 25: Russia, Profit-Sharing - Sakhalin I (%)
Table 26: Russia, Profit-Sharing, Sakhalin II (%)
Table 27: Russia, Profit-Sharing - Kharyaga (%)
Table 28: References

Figure 1: Regime Flow Chart - Concession
Figure 2: Regime Flow Chart - Production Sharing Agreement
Figure 3: Russia, Indicative NPV10/boe, IRR and State Take Comparison, Regional
Figure 4: Russia, Legal Framework
Figure 5: Russia, Institutional Framework 36