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  Friday, October 30, 2020
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The Russian Natural Resources Ministry has no claims against Yuganskneftegaz
The Russian Natural Resources Ministry has no claims against Yuganskneftegaz over its compliance with production license agreements, a ministry spokesperson said Monday. In October 2004, the Natural Resources Ministry gave Yuganskneftegaz, once Yukos' main production unit, three months to correct tax-related problems with its 21 production licenses. Under these licenses, the company's aggregate oil reserves amount to an estimated 1.1 billion metric tons. "Issues of compliance with tax legislation are under the jurisdiction of the Federal Tax Service. As for tax claims against users of natural resources (Yuganskneftegaz), the ministry shall act in accordance with information provided by tax officials. But no queries have come to the ministry from the Federal Tax Service of late," the spokesperson said. The Resources Ministry looked into Yuganskneftegaz's compliance at the request of tax authorities. The Federal Tax Service suggested the company's production licenses be revoked due to a $128.6-million arrearage in taxes on oil recovery. Yuganskneftegaz is currently controlled by Rosneft, Russia's only 100% state-owned company and its second largest oil producer, after Lukoil.
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