Source Pravda.Ru

Comments: Total Ask For Tax "Grace Period" In UK North Sea

TotalFinaElf has sent a letter to the UK government requesting a "grace period" for the new oil tax on firms operating in the British North Sea. "We sent the message last week," Thierry Desmarest, TotalFinaElf's chairman and chief executive, said in a statement. Desmarest did not provide a length of time he is seeking in the proposed grace period, but said it should apply to "new fields which have started production."

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