02 maj: USA/åbning: Røde tal fra start som ventet
02 maj: Lundbeck/Sydbank: Fastholder syn trods skuffende kvartal
02-05-2012 15:47:00

UPDATE: Russian Government Approves Gas Tax Rise

(Rewrite throughout with details, share movements, analysts' comments)

By Ira Iosebashvili and Alexander Kolyandr

Of DOW JONES NEWSWIRES

MOSCOW -(Dow Jones)- Russia's government Wednesday approved tax rises nearly doubling rates for state-controlled natural gas giant OAO Gazprom (GAZP.RS) and more than quadrupling duties to be paid by the country's independent producers by 2015, a move analysts said may weigh on stock prices in the gas sector.

President-elect Vladimir Putin is seeking ways to fund a new wave of social spending promised during his election campaign without further straining the country's overstretched budget. Russia's budget now balances at an estimated $117 per barrel, from as low as $50 per barrel in 2008.

Taxes for Gazprom, the world's largest gas producer, will be raised twice per year to reach 1,062 rubles per 1,000 cubic meters on July 1, 2015, from RUB509 per 1,000 cubic meters today, Deputy Finance Minister Sergei Shatalov told journalists after a government meeting. Duties paid by independent producers will rise to RUB1,049 per 1,000 cubic meters, he said.

Gazprom has asked the government to further raise gas prices for consumers, arguing that most of the 15% increase planned for next year will be offset by a subsequent increase in the mineral extraction tax. Putin, however, has thwarted the company's requests, urging it to find new ways to cut costs.

While raising taxes for the gas producers may fill up government coffers, it may not be so kind to share prices in the sector, analysts said.

"Gas stocks may continue to get dogged by the tax uncertainty," Troika Dialog analysts said in a note to clients.

Shares in Gazprom were unaffected by the news Wednesday, as the tax rise had been anticipated for some time, and papers in the company suffered in April when the changes were proposed by Putin.

However, shares in Novatek (NVTK.RS), the country's largest independent gas producer lost 8%, as analysts expect the company's profitability to suffer significantly by the tax rise, and consider the news negative for the stock.

According to Renaissance Capital's calculations Novatek's earnings before interest, taxes, depreciation and amortization, or Ebitda may decline by a quarter in 2015 under the new tax regime, compared to the one under the old taxes. Gazprom's Ebitda is expected to decline by up to 7%. A possible rise in domestic gas tariffs will partly compensate the loss, the bank added.

Taxes will likely not rise in Russia's non-commodities sector in the near term, Shatalov said.

A planned luxury tax was voted down, but the government will introduce a special tax for owners of automobiles with engines more powerful than 410 horsepower or owners of "elite" real estate, Shatalov said.

-By Ira Iosebashvili and Alexander Kolyandr, Dow Jones Newswires; +7 495 232-9192 alexander.kolyandr@dowjones.com

(END) Dow Jones Newswires

May 02, 2012 09:47 ET (13:47 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
26 apr
FING-B
Jeg giver dig ret, Taastrup. Alle jer der konstant har travlt med at nedgøre Taastrup - I skulle..
27
30 apr
OMXC20CAP
Sell in may, and go ...   Det er blevet tid til en mindre opdatering. Jeg har været bortrejst, og sa..
23
28 apr
BAVA
Så fik jeg pløjet data ind i et excelark, og her er konklussionerne:   data kommer fra et forsøg, hv..
18
28 apr
MAERSK-A
Københavns Kommune agter jfr DR.DK + i Børsen.dk 27/4 at sælge sine Mærsk aktier pga , at mærsk ikke..
14
26 apr
SUNEQ
Dommer Stuart Bernstein som styre Chapter 11 retssagen ved U.S. Bankruptcy Court på Manhattan’en hav..
14
01 maj
BAVA
Bavarian bliver ikke opkøbt. Stop nu med jeres drømme og løgne og bilde folk dette ind. Hvornår har ..
13
01 maj
 
“The Big Five” hvor en er « gone missing»                  Ifølge det dokumnentet (DIP dokumentet), ..
12
27 apr
FING-B
CrowHater   Fingerprint Cards / Crowhater / Analytiker har noll förståelse för pengar... I dag 10:48..
12
27 apr
DANSKE
Da jeg her til formiddag, som vanligt sad på min "pind" og arbejdede, hørte jeg pludselig støj fra k..
11
26 apr
FING-B
Hej x   Ja markedsdeltagerne er uenige.   Du gør mig opmærksom på analytikernes kursmål.   Hvad er e..
11

Shipping/Bimco: 2016 kan blive udfordrende for hele industrien

02-05-2016 15:38:02
Der er fortsat pres på fragtraterne, selv om tørlastindekset Baltic Dry er steget, siden det i februar ramte et historisk lavpunkt.Det vurderer Peter Sand, der ..

Mærsk: Konkurrent følger succes med nyt nødrateløft

02-05-2016 13:14:04
Efter den største ratestigning på Asien-Europa-ruten i år har det store franske containerrederi CMA CGM fået appetit på mere.CMA CGM vil hæve priserne på fragt ..

Aktier/åbning: Danske Bank løftes af norsk storbank

02-05-2016 09:27:45
Danske Bank har som ventet fået en grøn start på maj, efter at fredagens flotte regnskab fra banken har kastet en ny købsanbefaling af sig fra den norske storba..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas/ABM: Runevad-rygte kan godt presse aktien
2
Vestas-chef rygtes i spil som Ericsson-boss - citat - NY
3
Aktier/middag: Vestas i bunden af C20 efter Runevad-rygte
4
Aktier/tendens: Maj ser ud til at starte godt for Danske Bank
5
Aktier/åbning: Danske Bank løftes af norsk storbank

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
2. maj 2016 21:25:30
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160502.2 - EUROWEB1 - 2016-05-02 21:25:30 - 2016-05-02 21:25:30 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x