26 Aug 2011 15:56

Russia approves 60/66 for oil product export duties

MOSCOW. Aug 26 (Interfax) - The export duties on light and dark oil products will be set equal to each other at 66% of the export duty on crude oil effective October 1, according to a Russian government resolution dated August 26 (N716) that has been published on the Russian government web site.

An exception is the export duty for gasoline, which will be 90% of the crude oil rate.

Beginning in 2015, the export duty for a number of dark oil products (fuel oil, lubricating oils, waste oil products, petroleum coke) will increase to 100% of the crude oil export duty. The coefficients for light oil products and gasoline will remain at 66% and 90% respectively.