Lukoil Seeks $1.8 Billion Heavy-Oil Tax Break

Bloomberg reports that OAO Lukoil and OAO Tatneft (MCX:TATN) are seeking to nullify export duties for high-viscosity oil.

The market news is quoted as saying:

Lukoil may save $900 million a year at current heavy-oil output levels and as much as $1.8 billion a year as production climbs, Vedomosti reported. Tatneft may save about $133 million a year, the newspaper said.

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