Logo
  Tuesday, March 31, 2020
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Russia could raise its duty on oil exports
Russia could raise its duty on oil exports by $4-6 to $337-340 per metric ton on April 1, a senior Finance Ministry official said on Tuesday.

"Starting from April 1, duty could approach $340 per metric ton of oil," said Alexander Sakovich, deputy head of the ministry's customs duties department.

On February 1, Russia raised oil export duties by a record $58.4 to $333.8 per metric ton against the backdrop of booming global prices.

The Russian government adjusts export duty on crude and petroleum products every two months, depending on changes in the Urals blend price on world markets.

Sakovich said oil prices need to drop below $82 per barrel in February in order for Russia not to raise export duties, which is unlikely.

Crude dropped slightly to $98.8 a barrel on Asian electronic trading floors on Tuesday from $99.2 on Monday. Prices have remained high amid concerns over Turkey's military invasion of northern Iraq and Iran's warnings over fresh international sanctions.

Sakovich said export duties on light oil products could rise to $239.6-241.1 per metric ton against $237.2 in February-March, and duty on heavy petroleum products could grow to $129-129.9 a ton on $127.8.


Print Russia could raise its duty on oil exports Bookmark Russia could raise its duty on oil exports

Related News   
JanFebruary 2008Mar
MoTuWeThFrSaSu
28293031123
45678910
11121314151617
18192021222324
252627282912
3456789