Date: 2 months ago   Category: Energy

The expert told about the reasons of an exit of the USA to the first place in the world on oil production — Rambler News Service


The USA could become the largest oil-producing country of the world thanks to support of the oil companies from administration of U.S. President of Donald Trump, the senior analyst of "BKS of Premieres" Sergey Suverov told on air of the Facts program on Russia-24. "It is connected in many respects with the fact that Trump's administration supports the oil companies. Well, first, there took place tax reform, in principle income tax of corporations from 35 was reduced to 21%, but oil companies received unprecedented privileges. Many of them did not pay in general taxes last year, such companies as Chevron, Halliburton, received tax benefits from the budget" — Suverov told. According to the expert, Saudi Arabia also keeps high volumes of oil production thanks to support of the companies from the state, however in Russia the oil enterprises face excessively high tax burden. "Saudi Arabia supports the oil companies too. So, income tax in Saudi Arabia for oil industry workers was reduced from 85 to 50%. Besides, the companies of Saudi Arabia receive subsidies in case of price stabilization in domestic market. In 2018 the amount of compensations was of the budget for Saudi Aramco $41 billion. In Russia, on the contrary, tax burden, we see, remains high. The highest tax burden at energy industry – from 67% at Novatek up to 83% at Rosneft" — Suverov noted. Earlier today Joint Organisations Data Initiative (JODI) reported that the USA following the results of March kept leadership in the rating of the largest oil-producing countries of the world, having bypassed Russia. According to the organization, Americans remain the world leader in the monthly volume of oil production the 13th month in a row.

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