Global Natural Resources granted exemption from Russian export tax.HOUSTON--(BUSINESS WIRE)--March 3, 1995--Global Natural Resources Inc. (NYSE NYSE See: New York Stock Exchange :GNR GNR Gram-negative rods Infectious disease Bacilli that don't absorb gram stain–ie, are pink; most clinically important GNRs are coliforms: Enterobacteriaceae–eg, Escherichia, Klebsiella, Proteus, Pseudomonas, Salmonella, Shigella ) announced today that the Prime Minister of Russia The Prime Minister of Russia (Russian: Председатель Правительства, Chairman of the Government) is the current Head of Government of , V. Chernomyrdin, had signed the documents granting its joint enterprise in Russia, Tatex, an exemption from paying the tax on exported oil. The tax had been levied at a rate of 23 European Currency Units per ton of oil (approximately 7.3 barrels). This exemption for Tatex is effective Jan. 1, 1995. The exemption is subject to an annual review by the government and can be effective for no more than three years. Tatex, which operates in Tatarstan, is owned equally by Texneft, a subsidiary of Global, and Tatneft, the oil production amalgamation of Tatarstan. The joint venture is currently producing 5,200 barrels of oil per day. Global Natural Resources is engaged in worldwide oil and gas exploration and production and in natural gas gathering, processing and marketing. The Company has operations and interests in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Tatarstan - Russia, Indonesia, Malaysia, the Ivory Coast Ivory Coast: see Côte d'Ivoire. and Egypt. CONTACT: Global Natural Resources, Houston Robert F. Vagt or David W. Martin, 713/880-5464 |
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