Logo
  Monday, August 19, 2019
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The Russian government announced on Wednesday the raising of oil export
The Russian government announced on Wednesday the raising of oil export duty from the current $110 to $137.7 per metric ton from May 1.

The figure was calculated proceeding from the average price of Russia's Urals blend at $47.8845 per barrel in the period of March 15 - April 14.

As of May 1, the duty on light petroleum products will rise to $105.1 per metric ton from the current $86.4 per ton and on heavy petroleum products to $56.6 per ton from the current $46.5 per ton.

Last year, the government abandoned its previously accepted bimonthly adjustments of export duties based on the price of the Urals blend on global oil markets and from December 1 switched to setting duties for oil and oil products on a monthly basis to respond more swiftly to changes in world oil prices.

The global financial crisis has forced Russia, which receives a large part of its revenues from oil exports, to gradually devalue the ruble amid capital flight and a fall in global oil prices, which declined from their peak of $147 per barrel in July 2008 to around $40 per barrel, rising in recent weeks to $50.


Print The Russian government announced on Wednesday the raising of oil export Bookmark The Russian government announced on Wednesday the raising of oil export

Related News   
MarApril 2009May
MoTuWeThFrSaSu
303112345
6789101112
13141516171819
20212223242526
27282930123
45678910