Sunday December 21, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek gov’t promises tax cuts to attract oil and gas firms

Greece is planning to cut tax rates for oil and gas companies as it wants to attract them to help exploit its untapped offshore hydrocarbon resources, its energy minister said on Tuesday.

Under the plan, oil and gas explorers will pay 25 percent tax, down from 40 percent currently, and 5 percent of the tax will go to local communities.

“We have done this in order to incentivize our investors to invest in the future of Greece,” Yiannis Maniatis (photo), Greece’s energy minister, said at a conference in London.

He did not say when the new tax rates would come into effect.

Debt-laden Greece, which spent 15.6 billion euros to import fuel last year, or about 8.6 percent of its gross domestic product, has launched an ambitious program to discover big hydrocarbon reserves.

It has been inspired by large gas finds offshore from nearby Israel and Cyprus.

Maniatis also announced the tender of Greece’s first large-scale oil and gas exploration licenses after several fruitless attempts over the past decades to make big oil discoveries.

A group of Greek government oil and gas experts is meeting representatives from BP, Shell, Total and ExxonMobil and other oil companies in London on Tuesday and Wednesday, a government source said.

Once the tender is officially published in the coming weeks, oil and gas producers will be able to bid for licenses covering 20 blocks located south of Crete and in the Ionian Sea.

[Reuters]

ekathimerini.com , Tuesday Jul 1, 2014 (21:08)  
Workers rush to get early retirement
Piraeus Containter Terminal goes from strength to strength
Moscovici: Creditor inspections to become less frequent and ‘lighter’
Property capital gains tax halt
Greek PM offers compromise solution with elections by end-2015
Prime Minister Antonis Samaras on Sunday presented a compromise solution to end a political stalemate that looks likely to send Greece to early general elections in about a month's time. Spe...
Environment Ministry to reconsider controversial bill
The government over the weekend appeared to backpedal on proposed amendments widely seen as compromising legislation protecting Greek forests as well as Plaka, Athens’s old quarter. The bill...
Inside News
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
INTERVIEW
‘Crisis of confidence will come back again and again,’ says Thomas Piketty
He’s treated like a rock star wherever he goes to lecture. His book “Capital in the 21st Century,” a study on income and wealth inequality from the 18th century to the present, recently tran...
COMMENTARY
Who lost Greece
If Greece collapses much will be said about where the fault lies. Sure, we all know the failings of Greek politicians. That said, much of the blame lies with outsiders who pushed Greece beyo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek PM offers compromise solution with elections by end-2015
2. Environment Ministry to reconsider controversial bill
3. Corfu to host country’s first hydroplane strip
4. Political upheaval sharpens after bribe claims with threats and insinuations
5. Police gets new communications system
6. Most Greeks say they recycle daily
more news
Today
This Week
1. Greek PM offers compromise solution with elections by end-2015
2. Who lost Greece
3. ‘Crisis of confidence will come back again and again,’ says Thomas Piketty
4. Snubbing the moderates
5. Get your facts straight
6. The big picture
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. A friendly yet firm message from Pierre Moscovici
3. Europe's drama in Greece needs final act to avoid tragedy
4. High stakes
5. On the edge but not gutless
6. Gap between SYRIZA and New Democracy closing, says poll
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.