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Kudrin against prolonging privileges for Vankor field

© RIA Novosti . Alexei Nikolskiy / Go to the photo bankAlexei Kudrin
Alexei Kudrin - Sputnik International
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The Finance Ministry sees no reason to extend a privileged export duty regime for the Vankor oil deposit, which belongs to state-run Rosneft, Finance Minister Alexei Kudrin said on Wednesday.

The Finance Ministry sees no reason to extend a privileged export duty regime for the Vankor oil deposit, which belongs to state-run Rosneft, Finance Minister Alexei Kudrin said on Wednesday.

"Currently, oil prices are high enough and there are no reasons to say that it is difficult to work at this field," Kudrin told reporters on the sidelines of a banking conference.

In October, the government prolonged the privileged export duty regime to May for Vankor, East Siberia's largest field.

But Rosneft, chaired by Deputy Prime Minister Igor Sechin, has asked for a three-year extension arguing that the current profitability stood at 5% compared to 17% previously set as benchmark for canceling privileges.

 

MOSCOW, March 16 (RIA Novosti) 

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