80% of oil sector profits go into budget - Putin
MOSCOW. May 8 (Interfax) - Some 80% of oil sector profit is going
into the state budget in the form of taxes and duties, Vladimir Putin,
candidate for Russian prime minister, said in the State Duma.
"We're taking 75%-80% of oil companies' profits for the budget by
various means, including the NRET [Natural Resources Extraction Tax] and
customs export duties," Putin said in the State Duma.
This is largely responsible for growth "in the number of low-yield
wells being decommissioned, and slowness to explore and put new fields
on stream," Putin said.
In addition, Putin said it was necessary "to ensure the effective
administration of previously adopted decisions for ageing fields."
Pr
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