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World oil prices

Export duty on oil in Russia to add $1.1 from November 1

Preferential oil duty rate for a number of fields in Eastern Siberia, the Caspian fields, and the Prirazlomnoye field remains at zero

© Yegor Aleyev/TASS

MOSCOW, October 15. /TASS/. Starting from November 1, 2019, export duty on oil in Russia will increase by $1.1 and amount to $88.3 per metric ton, the Russian Ministry of Finance said in a statement on Tuesday.

The average price of Urals oil in the monitoring period from September 15 to October 14, 2019 was $60.08 per barrel, or $438.6 per metric ton.

Read also

Oil export duty in Russia frozen for 2016

According to the Ministry of Finance, the duty on high-viscosity oil will rise to $8.8 from $8.7. In connection with the new calculation formula adopted in the framework of the tax maneuver in the oil industry, from February 1, 2015, preferential oil duty rate for a number of fields in Eastern Siberia, the Caspian fields, and the Prirazlomnoye field remains at zero.

The duty on light petroleum products and oils will increase to $26.4 per metric ton, dark — to $88.3. The duty on exports of commercial gasoline will grow to $26.4, straight-run (naphtha) — to $48.5 from $47.9 per metric ton. The duty on liquefied gas remains at zero. The duty on coke will rise to $5.7 from $5.6 per metric ton, the Finance Ministry said.

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