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Export duty on oil in Russia to decrease by $57.3 to $112.9 per ton on Feb 1 — ministry

January 15, 2015, 13:01 UTC+3 MOSCOW
Under the current calculations, the preferential export duty for a number of fields will become zero, compared to the current duty of $11.9, said Alexander Sarkovich, leading Finance Ministry expert
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© ITAR-TASS/Valery Matytsin

MOSCOW, January 15 /TASS /. The export duty on oil in Russia will go down by $57.3 to $112.9 per ton on February 1, said Alexander Sarkovich, leading Finance Ministry expert.

According to Sakovich, the average oil price for the monitoring period December 14-15 of 2014 totaled $53.3 per barrel or $381.8 per ton. In comparison, in the previous month, the average price was $70.9 per barrel, or $518.3 per ton.

Under the current calculations, the preferential export duty for a number of fields will become zero, compared to the current duty of $11.9, Sarkovich said.

Next month, the preferential export duty on high-viscosity oil will be $14.2, nearly $8 more than in January.

The tax on straight run petroleum will be $95.9; commercial gasoline at $88 and light oil and motor oil at $54.1.

The duty on heavy oil will be $85.8, and $7.3 for coke. With that, the duty on liquefied petroleum gas has been reduced to zero. Sakovich explained that according to the calculations if the average price of LPG (liquefied petroleum gas) is below $490, the duty becomes zero.

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