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  Friday, September 20, 2019
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German Gref said that he supported the introduction of a differentiated scale for the extraction tax and a number of other changes to legislation to stimulate oil production.
"Regarding methods of producing oil from deposits, I would appeal the current legislation," Mr. Gref said Thursday at a Russian government session. He stressed that more effective methods of oil production needed to be "stimulated by economic measures." According to Mr. Gref, the flat extraction tax scale needed to be changed in particular. "Also, it is connected to the passage of a new law on subsoil and the passage of enough strict measures on the state's responsibility in the conclusion of investment agreements and state control over the execution of these agreements," he said. "Unfortunately, a decision on these issues has not been made," he said. Mr. Gref called for the preparation and acceptance of an intelligent infrastructure development program this year. "Our infrastructure, a fixed asset, is in critical condition and if we do not begin to carry out the project in 2005, the entire economy will slow and we will exhaust our principle source of growth, which are shipments of raw materials," he said. The minister said that in the current situation, the state should finance specific infrastructure projects (pipelines, ports, railroad terminals, etc.) or seek private funding for a number of infrastructure projects, particularly pipelines. "We have an interdiction on private investments, for example, oil pipelines, but not on making a decision about allowing [private investors] we ourselves do not invest either," Mr. Gref said. "An intelligent infrastructure program, in which the goals and funding are specifically set, needs to be accepted," he said. The minister said that railroad transportation was an example. "Two years ago we rethought the railroad transportation development program and therefore ports and access roads as well," he said, "and as a result grain exports have considerably grown."
Print German Gref said that he supported the introduction of a differentiated scale for the extraction tax and a number of other changes to legislation to stimulate oil production. Bookmark German Gref said that he supported the introduction of a differentiated scale for the extraction tax and a number of other changes to legislation to stimulate oil production.

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