Top executives of Russian oil companies agreed on taxation changes with Russian Deputy Prime Minister Alexander Novak (pictured left) and Finance Minister Anton Siluanov (right) on February 11, Interfax reported on Sunday.
Under the deal, the Urals crude oil price discount will be limited in comparison to the price of Brent while oil taxation in Russia will be adjusted accordingly, it was said in the report.
The Russian government is allegedly trying to alleviate the negative consequences of the Urals discount on the country's revenues. Domestic oil firms expect that Urals prices will rise due to a recovery in demand from China, according to the report.
