Rosneft has signed an agreement of cooperation with the Ministry of Foreign Affairs of the Russian Federation.
The document was signed by the company’s chairman of the management board Igor Sechin and the Minister of foreign affairs from Russia, Sergey Lavrov.
Russia’s Economy Ministry criticized a proposed tax increase on the nation’s main revenue source, crude producers, saying it may hurt output and the budget in the long term.
The oil-extraction tax formula proposed by the Finance Ministry last week would hurt “the economics of working deposits and in fact would ’kill’ production at the most efficient fields in terms of tax performance,” Deputy Economy Minister Nikolay Podguzov said.
“Clearly, if production decreases, taxes also fall.”
