Russia to lower oil export duty to $253.7 per ton from March 1
14:38, 15 February 2010
MOSCOW. February 15. KAZINFORM Russia is expected to lower oil export duty on its Urals blend from the current $270.7 to $253.7 per metric ton from March 1, following trends on global oil markets, a Finance Ministry official said on Monday.
Alexander Sakovich, head of the ministry's consolidated analysis department, said the average oil price was $72.31 per barrel from January 15 to February 14.
Therefore, the export oil duty from March 1 will equal $253.7 per metric ton, duty on light petroleum products will fall to $183.2 per ton from the current $194.7 per ton, and duty on heavy petroleum products to $98.7 per metric ton from the current $104.9 per metric ton, he said.
Last year, the government moved from a bimonthly to a monthly duty adjustment procedure to respond more swiftly to changes in world oil prices, Kazinform refers to RIA Novosti.
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