Siluanov explained oil companies what to do with roubles
Edited by Rhod Mackenzie / 2015-10-07 11:54:27
The Minister of Finance, A Siluanov, has strictly criticized the Russian oil companies.
He said that the benefit of companies from the change of the amount of MET deduction for oil in roubles will make up 500 bln roubles.
He said that it will be enough for a confident growth of the companies’ EBITDA.
The Minister said that the expenditure of companies is significantly lower due to the real weakening of the roubles and it is possible to grow the extraction and profit without the additional investment.
He explained how to reach it with less effort – to cut the expenditure and thoroughly choose the projects.
He was not satisfied with the fact that the salaries in the oil sector are said to be indexed over the norm by means of the budget deficit.
