Russian oil export duty to fall $57 on Feb 1 to $112.9/tonne
MOSCOW. Jan 15 (Interfax) - Russia's oil export duty will fall by $57.3 to $112.9 per tonne on February 1, according to Interfax's calculations based on data from the Russian Finance Ministry.
The export duty is currently $170.2 per tonne. Finance Ministry expert Alexander Sakovich told Interfax that the average monitoring price in the period between December 15 and January 15 was $52.307 per barrel, or $381.8 per tonne.
The Russian government is therefore likely to set the duty at $112.9 per tonne.
The discounted duty on Eastern Siberian oil, oil from Caspian Sea deposits and the Prirazlomnoye deposit will be zero from February 1 versus $11.9/tonne from January 1. This will happen because with the new formula and oil prices falling below $65 per barrel, the size of the duty is becoming negative and a zero duty should be set according to the rules.
The duty on highly viscous oil will fall $7.8 to $14.2.
In connection with the approval of a law on the tax maneuver, the duty on light oil products will be $54.1 per tonne (from January 1 - $81.6) and dark - $85.8 per tonne ($129.3 per tonne).
The export duty on straight-run gasoline will be $95.9 per tonne starting February 1 (from January 1 - $144.6 per tonne), and on commercial gasoline - $88 per tonne ($132.4 per tonne). The duty on liquefied gas will fall to zero, because in accordance with the formula, in a calculation with a price for liquefied petroleum gas (LPG) lower than $490 per tonne, the duty becomes zero, and the average price is currently $385 per tonne. From January 1 the duty on LPG was $48.2.
The duty on coke will fall to $7.3 from the current $11.
