Duty on oil exports from the Russian Federation from December 1, may be reduced by us $8.7

Duty on oil exports from the Russian Federation from December 1, may be reduced by us $8.7


The duty on oil exports from the Russian Federation from December 1, can be reduced to 88,4 dollars per ton with 97.1 per dollar per tonne in October, said the expert of the Russian Finance Ministry Alexander Sakovich.

MOSCOW, 16 Nov. Duty on oil exports from the Russian Federation as of 1 December may decline by 8.7 per dollar to 88.4 dollars per ton with 97.1 per dollar per tonne in November, follows from the average price monitoring.

The average price monitoring for the period from October 15 to November 14 amounted to 44,32886 dollars per barrel, or 323,6 dollars per ton, said the expert of the Russian Finance Ministry Alexander Sakovich.

Preferential rate of duty on oil of Eastern Siberia, Caspian fields and the Prirazlomnoye field due to the change in the calculation of the rate of duty in connection with the tax maneuver was zeroed with 1 February. These rates, according to the new formula, will remain at the zero level, if the average oil price will be below $ 65. Also reset to zero the duty on liquefied petroleum gas (LPG).

The export duty for extra-viscous oil from December 1 will decrease to 10.9 $ 12.1 dollars per tonne in November.

The duty on straight-run gasoline (naphtha) will be reduced to 75.1 82.5 per dollar to dollars per ton, car (commercial) gasoline — up to 68.9 per dollar from 75.7 dollars per ton. The duty on other refined oils, and lubricating oils up to 42.4 46.6 per dollar dollar per ton, for dark oil products without oil and coke — to 67.1 $ 73.7 $ per ton, duty on coke to 5.7 from 6.3 per dollar dollar per ton.

From 1 January in Russia came into effect changes to oil industry taxation. So, in three years to gradually reduce export duties on oil 1.7 times, and on petroleum products — 1.7-5 times with a simultaneous increase in mineral extraction tax rate on oil 1.7 times and for gas condensate — 6.5 times.