Home
/
News
/

Cabinet Pushes For Oil & Gas Royalty Increase.

Cabinet Pushes For Oil & Gas Royalty Increase.

29 November 2008

In the draft law on the 2006 state budget, the government asked the Verkhovna Rada to increase oil extraction royalties by 59.3%, to USD 173.5 per mt. In addition, the Cabinet suggested that royalties for gas condensate extracted from wells up to 5,000 m deep, be raised by 59.3%, to USD 173.5 per mt, and royalties for condensate extracted from the wells more than 5,000 m deep, be raised by 30.0%, to USD 64.4 per mt. Gas extraction royalties are to remain the same, except for gas extracted from wells with a depth of more than 5,000 m and from offshore deposits. Concorde Capital: If enacted the new budget will be a major blow to all Ukraine?s hydrocarbon extractors, Ukrnafta (UNAF: HOLD) included.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...