::: RUSENERGYLAW Journal ::: #5'2005

RusEnergyLaw JOURNAL • Archive/5'2005

Louis Skyner
The Regulation of Subsoil Resource Usage and its Inclusion into the Framework of Civil Law

.PDF version /For Subscribers Only/

James Varanese and Oleg Shvander
Kazakhstan’s New PSA Law

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Jonathan Hines and Aset Shyngyssov
Kazakhstan Enacts PSA Law: Summary Analysis of Its Terms

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Len Rann
Corporate Governance in Yukos

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Sadek Boussena and Catherine Locatelli
Towards a more Coherent Oil Policy in Russia ?

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Alexander Golichenkov
The Faculty of Law of the Lomonosov Moscow State University

.PDF version /Free Access/

Russia

Update on the Changes to the ICAC Rules.

Russian Speaker Sees Subsoil Law Delays until Spring.

Kazakhstan

New Law On Production Sharing Agreements (Contracts) for Offshore Oil Operations.

The Government of the Republic of Kazakhstan is going to introduce a new Transfer Pricing Law.

Liberalization of the Currency Regime in Kazakhstan.

Turkmenistan

Turkmenistan Offers Oil Search Rights.

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Indira Seribkay
English in Oil & Gas Industry

.PDF version /Free Access/

Oil-Gas-Energy Law Intelligence service
Table of Contents (Volume 3, issue #03, published October 2005)

.PDF version /Free Access/

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GOTO CURRENT YEAR ISSUES

EDITORIAL

Victor Borodin, Tax Partner, Ernst & Young (CIS) B.V.

Dear Professional Colleagues:

The current issue of the Journal covers a variety of analytical and informational materials and updates concerning the legislative framework pertinent to the energy and mining sectors in Russia and the other CIS member states.

With regards to Russia, the development of its oil production and the gradual resumption of the oil policy by the Government have revived the discussion whether the country would be able to increase its output on a long-term basis and have the spare capacity that it would need to influence prices, and whether the growing attention being paid by the authorities to the oil industry should be interpreted as a strategy aimed at using Russia’s oil power as an additional instrument in its foreign policy. How should considerable differences between levels of production and exports be interpreted? How would different production scenarios have an effect on export levels of crude? What are the uncertainties surrounding reserves, future oil outputs, and the ability to maintain the recent rate of increase in production? What is the future status of the Russian oil industry in terms of major players and the level of foreign investment participation by foreign investors? These and various other questions are being discussed in the issue.

Concerning Russian Oil & Gas taxation regime, Russia is currently considering proposals to grant oil companies certain tax breaks for developing new fields. The respective amendments would be passed next year. The Government plans to levy the tax in accordance with scaled rates in 2007. Further details on these proposed rules should be expected in the near future.