Fossil Fuels – At What Cost? Government support for upstream oil and gas activities in Russia
The value of the Russian government’s support to the upstream oil and gas activities is very significant. The subsidies to oil and gas producers in Russia that have been identified and quantified in this report amounted to 4.2 per cent and 6.0 per cent of the total value of oil and gas production in Russia in 2009 and 2010 respectively. These subsidies also amounted to 8.6 per cent and 14.4 per cent of the industry’s total tax and other payments to the federal government in 2009 and 2010 respectively.