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Gold/Mining/Energy : LUKOY The largest oil company in the world LukOil unknown
LUKOY 6.9600.0%Dec 24 4:00 PM EST

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To: Rob Shilling who wrote (858)8/20/2001 5:44:53 PM
From: Fred Levine  Read Replies (1) of 914
 
18:50
[Monday 20th August, 2001]

Oil equipment producers urge more duties

MOSCOW - The union of producers of oil and gas equipment published a
statement in view of the suggestion of the Union of oil exporters to reduce
customs duties for imported equipment for the oil industry.

As reported, this reduction will be necessary in view Russia's entering the
WTO.

The statement says that a reduction in customs duties can be possible only
for equipment that cannot be produced in Russia. However, the list prepared
by the Union of oil exporters contains almost no such equipment.

The statement stressed that in the event export duties are reduced, the
volume of imports of equipment will rise significantly and the dependence of
the Russian oil industry on the West will increase.

Another result of the reduction in export duties would be a drop in the
volume of production of Russian enterprises, worsening of their financial
state and lower budget tax revenues. In view of this, the union of producers
of oil and gas equipment urged a rise in customs
duties. /RosBusinessConsulting/
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