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News // Oil and gas worldwide

Taxes And Duties Ministry Preparing Petrol Crisis

14 March 2001 , 11:57369
The Ministry of Taxes and Duties promises to strengthen the control over the oil companies` functioning. The oil-workers say they have nothing to be afraid of ? all money will be paid by the car owners. The working group of the Ministry plans to test the use of information prices on some segments of the oil market. The major aim, persued by the Ministry, is to eliminate the so-called intracorporative prices, i.e. sales of petroleum products at the lowered prices inside of one vertically intergrated company. According to this scheme a production subsidiary of the oil company sell oil to am oil-refining plant at the low intracorporative price (this price may twice as low as the market one). So the oil companies economise on taxes. However, the state itself wants to establish the prices on oil and petroleum products.

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