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11/26/2007
General Interest - Quick TakesWEC: TNK-BP calls on Russia to change tax regimeRussia will have to change its tax regime if it is to attract future investment from energy companies, a senior figure from TNK-BP said.Speaking at the World Energy Congress in Rome, Lord George Robertson, TNK-BP deputy chairman, said the company has paid $50 billion in taxes to the Russian government over the last 4 years. “There are rising levels of taxation and cost, which means that margins are being squeezed, and so there is less cash to invest,” Robertson said. “Russia’s tax environment supports prices of under $25/bbl but when it’s beyond $27/bbl, the Russian government takes...
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