July 4, 2008

Russia to Continue Tax Incentives for Oil Sector – Shmatko

ASHGABAT. July 4 (Interfax) - Russia will continue to offer tax incentives to the oil sector, Energy Minister Sergei Shmatko told reporters in Ashgabat, Turkmenistan.

"We'll continue with such incentives," Shmatko said.

"The package of measures that has already been agreed with the government will reduce the fiscal burden on oil companies by $4 billion-$5 billion per year," he said.

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