Russian oil export duty to fall $19.10 to $401.50/tonne April 1
MOSCOW. March 15 (Interfax) - Russia will decline by $19.10/tonne to $401.50/tonne on April 1, according to Interfax calculations based on Finance Ministry data.
The current export duty is $420.60/tonne.
Finance Ministry expert Alexander Sakovich told Interfax that the average monitoring price from February 15 to March 14 was $110.01625 per barrel. So the Russian government is likely to set the duty at $401.50/tonne.
Beginning in April the new export duties on crude oil and refined product will be published on the website of the Economic Development Ministry and not affirmed in a government resolution, as is the case currently, he said.
The duty rate break on Eastern Siberian oil, Caspian deposits, and the Prirazlomnoye deposit will decline to $197.10/tonne on April 1, down from the current $211.40/tonne.
The duty on highly viscous oil will be $40.10 compared with the $42.00 in effect since March 1.
The duty on light and dark oil products, which since October 1, 2011 has been unified at 66% of the duty on oil, will be $265.00/tonne in April. It has been $277.60/tonne since March 1.
The duty on gasoline exports, based on a ratio of 0.90, will increase to $361.40/tonne from $378.60/tonne.
The duty on liquefied gas will be $70.50/tonne, down from $131.40/tonne.
