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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: elmatador who wrote (177577)	8/30/2013 6:23:01 PM
From: Dennis Roth	Read Replies (2) of 206110

Russian Tax Breaks Now, Tight Oil Boom Later by Reuters Katya Golubkova Friday, August 30, 2013 rigzone.com MOSCOW, Aug 30 (Reuters) - Russia introduces tax breaks on production of hard-to-recover "tight" oil on Sept. 1, but the giveaway alone will not be enough just yet for the world's largest oil-producing nation to replicate the North American shale energy revolution. Incentives of as much as $21 per barrel will transform the economics of exploration, encouraging the use of advanced drilling methods to pulverise, or "frack", vast tracts of non-porous rock into yielding up their hydrocarbon riches. Rosneft, the state oil major that lobbied for and won the concessions, will lead the drive to tap Siberia's vast Bazhenov formation with ExxonMobil, the U.S. supermajor that enjoys the most favour in Vladimir Putin's Kremlin...

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