Rosneft to obtain registration in Yamalo-Nenets Autonomous Area

The Rosneft joint-stock company intends to reregister itself in the Yamalo-Nenets Autonomous Area, a representative of the company's Press Service told RBC. In experts' view, the reason for this decision by the company is that being registered in Moscow, Rosneft had had a profit tax discount before January 1, 2002, and the new Tax Code canceled that privilege.

The total volume of oil and gas condensate production by Rosneft reached 6.99m tons in January-June 2001, 3.75m tons of oil were exported, and 3.47m tons were supplied to Russian oil refineries. Rosneft plans to increase the volume of oil production to 40m tons a year by 2020, and the volume of gas production is to reach 50-55bn cubic meters.

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