Russian oil & gas: “highly illogical”

By Isabel Gorst

Russia’s outgoing government has dealt an eleventh hour blow to the country’s gas producers, announcing plans sharply to increase the tax burden on Gazprom and independent gas companies alike.

Putin, who has encouraged the development of independent gas companies, said last year the government had no plans to strip Gazprom of its export monopoly, although he did not rule out such a move in future.

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