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  Thursday, September 19, 2019
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Russia could reduce oil export duty to $117-$119
Russia could reduce oil export duty to $117-$119 per ton from the current $192.1, a Finance Ministry official said on Wednesday.

Alexander Sakovich, deputy head of the customs payments department at the ministry, said the average price for Urals crude on world markets in the monitoring period from November 15 to December 9 inclusive was $44.5 per barrel. He said the price could continue to change until December 15 given high volatility on the market.

The Russian government decided to set export duties on oil and oil products on a monthly basis from December 1 and abandon the previously accepted bimonthly practice.

Duty on light petroleum products could be cut to $91-$93 per ton against the current $141.8 and on heavy petroleum products to $49-$50 per ton from the current $76.4, Sakovich said.


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