O'zbekiston iqtisodiyotiga aloqador xabarlar

[UzLand]

O'zbekiston iqtisodiyoti va tashqi savdosiga aloqador xabarlarni shu yerda qoldirishingiz mumkin...

[UzLand]

Sinopec may quit Uzbekistan over tax rates

UPI - TASHKENT, Uzbekistan, April 19 China's state-run Sinopec may withdraw from an oil and gas project in Uzbekistan because of high oil-extraction tax rates.

The Chinese Embassy in Tashkent told the Interfax news agency Thursday that the tax rates made the venture unprofitable.

Uzbekistan's state-run Uzbekneftegaz National Holding Co. told Interfax it received no official notification of withdrawal from Sinopec, but an official acknowledged that no work had been done on the project besides the signing of the memorandum of understanding.

Sinopec and Uzbekneftegaz signed a deal in 2003 under which $113 million was to be invested to improve the recovery ratios in seven aging oil fields, and to develop new oil fields in the Fergana Basin, China's official Xinhua news agency reported.

In 2005, Tashkent increased taxes from 12.3 percent for crude oil and 18.5 percent for natural gas to 32 percent for crude and 58 percent for gas. In 2007, those figures were lowered to 20 percent for crude and 30 percent for natural gas.

Foreign companies contend that figure is still too high.

http://www.earthtimes.org/articles/show/53958.html