Russia’s Oil Giants Are Addicted To Tax Breaks

For much of the 2010s, Rosneft was the leading force on the Russian domestic crude market. It is one thing to produce 42-43 percent of Russia’s crude production, indubitably noteworthy in and of itself, yet Rosneft also wielded significant political power, being able to proactively shape the country’s energy policy (whilst other majors were mostly in a spectator’s position). Recent moves might indicate that Rosneft’s power might be curbed politically as government officials tire of its one-off tax exemptions and constant…