Russia terrified watching monuments destroyed in Palmyra — culture ministerRussian Politics & Diplomacy January 21, 17:08
Russian bombers deliver successfully strikes on terrorists' facilities in SyriaWorld January 21, 15:39
Denmark uses Russian data in its application for expanding shelf — ministerBusiness & Economy January 21, 15:15
Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
MOSCOW, April 2. /TASS/. American Exxon Mobil informed the Russian Energy Ministry on Monday, March 30 about lodging a claim to the Stockholm arbitration requiring changing the interpretation of the Sakhalin-1 project Production-Sharing Agreement (PSA) paragraph on taxes, Vedomosti newspaper reported Wednesday citing Russian Energy Minister Alexander Novak.
ExxonMobil believes its subsidiary Exxon Neftegas Limited overpaid approximately $500 mln profit taxes on its Sakhalin-1 oil and gas project.
At the time of the PSA signing in the mid-1990s profit tax of 35% was imposed in Russia. Russia reduced the profit tax in 2009 to 20%, but ExxonMobil continued to pay at the earlier level of 35%, although it applies to the Finance Ministry with a request to lower the rate. According to the newspaper, Russia believes that PSA terms are not subject to change within its period of validity.
According to the newspaper, Russia is preparing its propositions and hopes for out of court settlement of the issue.
Earlier in March ExxonMobil CEO Rex Tillerson came to Moscow for talks. Tillerson met with Deputy Prime Minister Arkady Dvorkovich, Energy Minister Alexander Novak, Finance Minister Anton Siluanov, and twice with the Executive Chairman of Rosneft Igor Sechin. As media reported, the officials listened to ExxonMobil arguments, but failed to come to an agreement. The issue will be further discussed by the Russian Government.
ExxonMobil is the Sakhalin-1 project’s operator, 30% belong to the Japanese Sodeco, Rosneft and the Indian ONGC own 20% stake each.