01 maj: Verdens måske fineste skjorter kommer til Danmark
07 maj: 10 aktier til den langsigtede portefølje
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
21 apr
OMXC25
Som tidligere påvist kan bulls køre hen over hvilken som helt bear. Hvis de altså vil. Det kræver at..
30
19 apr
 
Et opgør med Finanstilsynet er tvingende nødvendigt, hvis tilliden til markedet ikke skal lægges øde..
28
18 apr
 
LÆS NU FOR HELVEDE NOGEN AF DE 38000 indlæg som siger at børsen er nede!   Det er kraftstejleme da u..
21
20 apr
VWS
Vestas har en ordrerbeholdning større end de nogensinde har haft, og de sendte en næsten færdigjort ..
20
19 apr
BAVA
      Vedr. shortsqeeze mm. og den ekstreme kursmanipulation der dagligt foregår på Nasdaq Kbhvn. T..
19
20 apr
VWS
hvornår kommer analysen?
16
18 apr
 
Det er en katastrofe ! Hvis det fortsætter ret meget længere er vi allesammen nødt til at gå ud og l..
16
17 apr
LAUR
An aktie man aldrig skal eje. Ejerne trækker store summer ud, at en virksomhed der kæmper for overle..
14
21 apr
VELO
Jeg har i torsdags købt Veloxis igen efter en længere pause. For efterhånden en del år siden stod de..
13
19 apr
 
Hej alle,   Jeg lavede et lille indlæg på Stolt-Nielsen for nylig hvor jeg desværre – og det beklage..
13

Bavarian: Udenlandske kapitalfonde øger væddemålet på kursfald

20-04-2018 16:36:15
En række kapitalfonde har onsdag og torsdag øget sine shortpositioner i biotekselskabet Bavarian Nordic. Det viser en række indberetninger til Finanstilsynet. Torsdag har Capital Partners øget sin shortposition til 0,62 pct. af aktierne fra 0,54 pct. Ligeledes har AHL Partners øget sin shortposition til 1,31 pct. af Bavarian-aktierne. Tidligere havde kapitalfonden shortet 1,20 pct.Arrow Street øge..

Vestas-konkurrent sælger flere vindmøller - men prispresset fortsætter

20-04-2018 12:49:56
Den amerikanske Vestas-konkurrent General Electric (GE) har solgt flere vindmøller i første kvartal, men selskabet melder om fortsat prispres i branchen. GE havde i de første tre måneder af 2018 en ordreindgang på 936 vindmøller mod 589 i samme periode sidste år. Selskabet oplyser ikke størrelsen på de solgte møller, men skriver i en kommentar, at det har haft en stærk vækst i USA målt på megawatt..

Brøndby-aktien banker til vejrs efter sejr over guldrival

20-04-2018 09:20:41
Aktien i Brøndby IF bliver sendt til vejrs med en stigning på 13,6 pct. til 1,25 kr. fredag morgen, efter at fodboldklubben torsdag aften vandt 3-2 på udebane over FC Midtjylland i Alka Superligaen.Med sejren fastholder Brøndby IF sin førsteplads i Alka Superligaen og har nu tre point ned til netop FC Midtjylland på andenpladsen. Der mangler at blive spillet seks runder, før sæsonen er slut i Alka..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018  Disclaimer Cookie- og privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. april 2018 23:46:34
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: ReleaseBuild_20180417.1 - EUROWEB6 - 2018-04-22 23:46:34 - 2018-04-22 23:46:34 - 1 - Website: OKAY