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Oil export duty in Russia to rise

Preferential export duty on high-viscosity oil from September 1 will be $40 per ton compared with the present $37.9 per ton

MOSCOW, August 15 (Itar-Tass) - Oil export duty in the Russian Federation will be $400.7 per tonne, effective from September 1, which will be $20.9, or 8.5 percent more than the size of duty set for August.

Alexander Sakovich, an expert of the Russian Finance Ministry, told Itar-Tass on Thursday that the average price of oil within the monitoring period from July 15 to August 14, 2013, inclusive, was $109.83196 per barrel, or $801.8 per ton. In this case, duty on oil, according to the operational formula of accounting must be equal to $400.7 per ton.

Preferential export duty for a number of oilfields will be $196.5 per ton from September 1, as against the August figure of $180.8 per ton.

Preferential export duty on high-viscosity oil from September 1 will be $40 per ton compared with the present $37.9 per ton.

Duty on petroleum products for September is set to be $264.4 per ton, as against the present $250.6 per ton and on petrol at $360.6 per ton, as against $341.8 per ton in August. Export duty on liquefied gas has been set to be $75.5 per ton, as against the current rate of $40.5 per ton.

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