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New Tax Formula Proposed

The Energy Ministry may propose a new formula to calculate the natural-gas extraction tax that would take into account the fuel's market price and the complexity of the fields, RBC Daily reported, citing an unidentified industry official.

The proposal will be presented at a government meeting Saturday, the newspaper said.

The government is reviewing a planned jump in the extraction tax for Gazprom and independent producers that was announced in May, Deputy Prime Minister Arkady Dvorkovich said last month.

(Bloomberg)

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