24 Ноября 2020

Oil Tax Regulation: How to Balance Budget and Investment Requirements in the Industry?

November 30, 18.55, Consulting Director of the state regulation sector of fuel and energy companies at VYGON Consulting and FinU alumnus Daria Kozlova will be giving an online lecture at the Faculty of Economics and Business.

The topic of the lecture is "Oil Tax Regulation: How to Balance Budget and Investment Requirements in the Industry?".

The online lecture will be held within the framework of the FinU curriculum for junior and senior year students as well as graduate students of the Faculty of Economics and Business (concentration "Economics and Finance of the Fuel and Energy Sector").

Russia’s oil industry has always been a key source of revenue for the country’s budget, raising about 9 trillion rubles or 44% from the income of enterprises in 2019. In addition to state revenues, however, it accounts for more than 3 trillion rubles or 18% of the total fixed capital investment in the country. Therefore, the history of taxation has been constantly transformed in order to strike the right balance between the interests of the state and the investor. Over the past 20 years, the tax code has been amended more than 30 times. So, is this balance possible at all? What is the "fair" rent-seeking behaviour? How does OPEC+ impact the oil industry? How much oil is to be processed? In fact, how long will oil be in demand?

About the Speaker:

At VYGON Consulting, Darya Kozlova is in charge of issues related to strategic development and state regulation of the fuel and energy sector of Russia. 

Since 2012, Darya has been directly involved in the following projects:

1. Introduction and development of the parameters of the Tax on Additional Income from Hydrocarbon Production; 
2. Assessment of the differentiation of tax conditions for the exploration and production of hydrocarbon raw materials in accordance with the road map on behalf of the President of the Russian Federation (resolution from 18 September 2018 № ДМ-П9-51пр);
3. "A Large Tax Maneuver" in the oil sector of the Russian Federation in 2015-2017 and "Completion of the Tax Manoeuvre" in the oil sector of the Russian Federation in 2019-2024;
4. State promotion of oil and gas projects in the Russian Federation;
5. Tax incentives for investing in geological exploration works in the Russian Federation;
6. Tax incentives for hard-to-recover resources in the Russian Federation;
7. Development of the economic part of the classification of hydrocarbon raw material reserves, approved by the Order of the Russian Ministry of Nature from 01.10.2013 №477;
8. Establishment of testing grounds for geological research, exploration and extraction of hard-to-recover resources in the Russian Federation; 
9. Improvement of the legislation on disposing associated petroleum gas in the Russian Federation;
10. Promotion of the reduction of harmful emissions in the Arctic in the Russian Federation, etc.

The lecture is organised with the support of the Office for Career Development, Alumni Relations and Partnerships.