From June 1, export duty on oil may decrease by 5%

From June 1, the export duty on crude oil may decrease by $19 per 1 tons (by 5%) from $378.4 per 1 ton in May of 2013 to $359.4 per ton, the preliminary formula calculations, established by law on customs tariff regulations, show, the leading expert of the Russian Ministry of Finance, Alexander Sakovich reported.

According to the monitoring of the Russian Ministry of Finance, from April 1 until May 14, 2013, the average price of the oil of the Urals grade made up $100.39/barrel ($732.8 per ton). Thus, the marginal rate of the export duty on crude oil may be $359.4/ton.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer