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Legislative Cap on Urals Oil Price Discount to Brent Oil
[Законодательное ограничение размера скидки цены на нефть марки Urals к марке Brent]

Author

Listed:
  • Andrey S. Kaukin

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

  • Eugenia M. Miller

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

The approved tax code amendments will cap a discount on Urals oil price to North Sea Dated for the calculation of oil taxes. By our estimates, amendments may bring an additional of around Rb640bn into the budget in 2023. However, the mechanism incorporated in the amendments entails the risk of a «manual» regulation of taxation parameters in the oil industry in case of a dramatic change in prices for oil on the global market.

Suggested Citation

  • Andrey S. Kaukin & Eugenia M. Miller, 2023. "Legislative Cap on Urals Oil Price Discount to Brent Oil [Законодательное ограничение размера скидки цены на нефть марки Urals к марке Brent]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 4, pages 57-60, April.
    • Handle: RePEc:gai:recdev:r2333
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    More about this item

    Keywords

    Urals crude oil; Brent crude oil; Tax Code of the Russian Federation;
    All these keywords.

    JEL classification:

    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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