https://cdnimg.rg.ru/img/content/189/51/51/novak_d_850.jpg

To create incentives for modernization of oil refineries (refinery) is expected to introduce multiplying factor “of 1.3” to reverse the excise on the oil feedstock for refineries, which will take on hard commitments in terms of investment in modernization and commissioning of processes deep oil refining.

the Development of the petrochemical industry is planned to support the introduction of reverse excise duty on ethane and LPG in the amount determined from the amount of investments .

To support oilfield service Fund is created, unfinished wells, which will save workload and solvency of enterprises. It is planned that the Russian petroleum will order services and equipment for the training of new wells from the oilfield services companies in greater volume than necessary in 2020-2021 years. Wells were drilled without their commissioning to be implemented later on, as recovery in demand and increase oil production.

Alexander Novak, Minister of energy:

“Without support measures the drop in orders for oilfield services can be up to 30-40%”.

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Jennifer Alvarez is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.