Duties for oil export from Russia to drop in December
Baku, Azerbaijan, Nov.15
By Leman Zeynalova – Trend:
The duties for oil export from Russia will decrease from Dec.1 by $2.3 to $90.4 from $92.7 per ton, according to the estimations of the country’s Finance Ministry.
The average price for Urals oil stood at $44.98 per barrel or $328.4 per ton during the period from Oct.15 to Nov.14, 2016, according to the estimations posted on the Finance Ministry’s website.
The preferential duty rate for oil produced at a number of fields in Eastern Siberia, as well as Caspian Sea fields and Prirazlomnoe field has remained at zero since Feb.1, 2015, as a new calculation formula was adopted as part of the tax maneuver in the oil industry, said the ministry.
The duty for the export of high-viscosity oil from Russia will drop from $11.2 to $10.9 in December.
According to the Finance Ministry’s estimations, the duty for light oil products and oils will decrease from $37 per ton to $36.1, while the duty for the export of heavy oil products from the country will decline from $76 to $74.1.
This is while the duty for export of marketable gasoline from Russia will drop from $56.5 per ton to $55.1 in December, according to the estimations.