Urals crude price for tax purposes 56.82/bbl in Sept - Russian Econ Ministry

MOSCOW. Oct 3 (Interfax) - The average September 2025 price of Urals crude for calculating mineral extraction tax on oil is $56.82 per barrel, the Russian Economic Development Ministry said.

This matches the estimate based on Argus data that Interfax published earlier.

Since January 2025, the cost of Russian oil for MET has been calculated using a new formula, which is the sum of the average prices for Urals FOB at Primorsk and Urals Med Aframax FOB at Novorossiysk, multiplied by a factor of 0.78, as well as prices for the ESPO blend FOB Kozmino, multiplied by 0.22. Non-trading days are not taken into account.

The price was $57.55 per barrel in August.