Рrospects for the development of oil industry Russian Federation

Transcription

1 Ministry of energy of the Russian Federation Рrospects for the development of oil industry Russian Federation 2012 г.

2 Position of the Russian Federation on a global market 2 The Russian Federation is the largest producer of liquid hydrocarbons in the world

3 Goals and objectives of the General scheme of petroleum industry development 3 Goal of the General Scheme Define the conditions ensuring maximization of the economic effect on long-term functioning of the industry without decreasing the current level of tax returns Petroleum Industry Development General Scheme How to provide for the best production level ensuring the maximum input for economy and budget? Which volumes of refining and which modernization process will lead to maximum input into economy? How should transportation infrastructure be developed to meet the domestic and export demand for oil and oil products?

4 Current Mineral Extraction Tax Allowances Mineral Extraction Tax Allowances existing in accordance with the Tax Code concerning*: Establishment of MET zero rate for oil extracted on subsurface sites located within the Republic of Sakha (Yakutia), Irkutsk Region, Krasnoyarsk Territory Establishment of MET zero rate for oil extracted on subsurface sites, which are fully or partially located within internal sea waters and territorial waters to the north from the Arctic Circle, on the continental shelf of the Russian Federation Establishment of MET zero rate for oil extracted on subsurface sites located within the territory of NAO and Yamal peninsula in JNAO Establishment of MET zero rate for oil extracted on subsurface sites located in Azov Sea and Caspian Sea Establishment of MET zero rate for extraction of superviscous oil, which is extracted from the subsurface sites that contain oil with viscosity over 200 mpa x s (under reservoir conditions) Establishment of Decreasing coefficient for MET for the recovery of oil extracted at sites that are characterized by exhaustion ratio of % Alteration of Arcticle 342 of the Tax Code in part of action commencement from 2012): Establishment of MET zero rate for oil extracted on subsurface sites located in the Black Sea Establishment of MET zero rate for oil extracted on subsurface sites located in the Sea of Okhotsk Establishment of MET zero rate for oil extracted within Yamalo-Nenetsky Autonomous District territory (to the north from 65 N latitude) Establishment of Decreasing coefficient for MET for oil extracted at fields with recoverable reserves up to 5 mln. tons of oil and exhaustion ratio less than 5% 5 10 The benefits 6 cover all territory of the Russian Federation

5 Customs Tariff system 60/66 5 Oil Abatement in fees Alignment of fees Introduction of "60/66" system on October 1, 2011 Oil products Main objectives and problems of the system: 1. Mining efficiency upgrading of producing fields; 2. Stimulation of deepening processes in processing; Effective interest System Light Effective interest Dark 3. Accession rate maintenance in the Russian budget system 4. Stabilization (non-admission of expansive growth) of gasoline prices in the domestic market Current achievements 1. Within January April 2012: Growth of capital investment in the oil production Growth of production drilling volumes Growth of ultimate oil stock production in Russia

6 Key performance indicators of the industry 6 Crude oil production млн т ,2 (+1,2%) ПРОГНОЗ Production drilling Production from fields in Eastern Siberia

7 Perspective enhancement of oil refining efficiency is achieved due the "60/66" system operation and the realization of quadruple agreements 7 Number of commissioned and reconstructed machines (secondary processes) TOTAL machines Investments into modernization of secondaryprocesses TOTAL trn. roubles 11 machines bln. rub Introduced and reconstructed In (May) 10 machines Terms of motor oiltransition to ecological classes End of production (except export and defense order): К-2 31/12/2012 К-3 31/12/2014 К-4 31/12/2015

8 Ministry of Energy of the Russian Federation uses complex approach it the field of tax, tariff and technical regulation of oil branch 8 Maintenance of oil extraction in traditional oil extraction regions The "60-66" customs and tariff regulation regime was introduced on October 1, The behaviour of "60-66" customs and tariff regulation regime realization performance analysis subsequen t to the results of oil and gas complex operation in The elaboration of further versions of oil branch customs and tariff regulation modification that do not lead to shortfall in income of the Russian budget within the frame of tax bracket. Stimulation of exploration and development of new shelf deposits Developmet of tax innovations provided by the Decree no. 443-r of the Government of the Russian Federation from April 12, 2012, in affiliation with Russian Ministry of Finance before October 1, 2012 Stimulation of hard to recover reserves development Developmet of tax innovations provided by the Decree no. 700-r of the Government of the Russian Federation from May 3, 2012, in affiliation with Russian Ministry of Finance before October 1, 2012 Oil refining Creation of economic incentives for oil refinery modernization, and establishment of duty for oil-fuel equal to export duty for crude oil from January 1, Differentiation of excise duties by fuel type classes. Absolute execution of technical motor oil regulation requirements.

9 Governing principles of oil transport infrastructure development 9 The development of transport infrastructure is performed on the grounds of the following principles firstly, the sufficiency of piping system capacity and the abscence of "bottle-necks" in the system secondly, - timeous connection of new deposits to the transport infrastructure with minimum investment expenditures. costs