Oil ESPO (Average Price, Mineral Extraction Tax — NMM)

The average price for the tax period of oil that has been dehydrated, desalinated, and stabilized from new offshore fields (MET — NMM) for fields with 50 percent or more of their area located in the East Siberian, Chukchi, Bering, Japanese, Okhotsk, and Laptev Seas (Argus ESPO Blend). In accordance with Article 340.1 of the Tax Code of the Russian Federation and Government Resolution No. 973 of 23 September 2014 “On Approval of the Calculation Rules...”, the Ministry of Economic Development of the Russian Federation publishes data on economy.gov.ru (section “Global Commodity Market Conditions”) for calculating the MET tax base for new offshore fields.