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Oil export duty in Russia to decline by 24% from March 1 — finance ministry

February 15, 2016, 15:47 UTC+3 MOSCOW

The export duty on coke will decline to $2.5 per tonne from $3.3 per tonne in February

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© AP Photo/Hasan Jamali

MOSCOW, February 15. /TASS/. Export duty on oil in Russia will decline by 24% to $39.5 per tonne from March 1 against $52 per tonne a month earlier, according to the Finance Ministry.

During the monitoring period from 15 January to 14 February 2016, the average Urals blend price amounted to $28.38143 per barrel, or $207.2 per tonne.

The preferential oil export duty for a number of oil fields in Eastern Siberia, the Caspian fields and the Prirazlomoye deposit will remain at zero level. That’s due to the new calculation formula, which was approved as part of tax maneuver in the oil industry from February 1, 2015.

The preferential exports duty on high-viscosity oil will decline by $4.2 per tonne against $5.9 per tonne in February.

Export duty on light oil products and lube oils will amount to $15.8 per tonne, on dark oil products - $32.3.

The export duty on commercial gasoline will drop to $24 per tonne, export duty on naphta (straight-run gasoline) will decline to $28 per tonne.

The duty on liquefied petroleum gas (LPG) will remain at zero.

The export duty on coke will decline to $2.5 per tonne from $3.3 per tonne in February.

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