Russia cancels higher coefficient for export duty on some petrochemicals

MOSCOW. April 8 (Interfax) - The Russian government has approved a resolution to repeal the higher coefficient that was applied to the duty on exports of certain types of petrochemical products and feedstock for their production, the Energy Ministry reported.

Under the document, if producers comply with certain conditions the higher coefficient of 50,000 rubles per tonne on the export duty rate will not be applied to exports of stable naphtha, pyrolysis condensate, aviation gasoline, aromatic hydrocarbon fractions, lubricating oils, petroleum jelly, paraffin and waxes.

The government's decision is aimed at supporting companies in the sector and maintaining production volumes, the ministry said.