Russian oil export duty could rise from August
Russian oil export duty could reach a record $495 per ton from August rising by more than 24%, a deputy head of the Finance Ministry customs payment department said on Tuesday.
“The average [crude] price was $122.1 per barrel for the May-June 23 monitoring period. It is most likely, that the average price during all the May-June monitoring period will be $122-123 per barrel. We are reaching the $490-495 level for oil export duty,” Alexander Sakovich said adding that from June 1 the duty was set at $398.1 per metric ton.
He said export duties on light oil products could rise to around $345 per metric ton from August 1, 2008 (compared to the current $280.5), and duty on heavy petroleum products could increase to $185 from $151.1 per metric ton.
Russia’s government adjusts export duties for crude and petroleum products from Russia every two months depending on changes in the price of Urals crude on world markets. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.