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Russia's Duma looks poised to pass a package of amendments to the subsoil law drawn up by the natural resources ministry, which will overhaul the process of awarding upstream licences.
The Duma passes the first reading of the amendments this month, and they are expected to be fully approved when the chamber reconvenes after its summer recess in September. Meanwhile, a planned new version of the law appears to remain on the back burner.
The proposed amendments will cut the time allowed for considering bids for licences from six months to 45 days. They will also remove the powers of regional bosses, in favour of centralised decision-making on licences. Natural …