Energy Ministry not on board with Finance Ministry idea to hike oil-product export duties sharply - Shmatko
DUSHANBE. Nov 25 (Interfax) - The Russian Energy Ministry does not see eye to eye with the Finance Ministry on sharply increasing export duties on oil products, Russian Energy Minister Sergei Shmatko told the press in Dushanbe on Thursday.
"We don't agree that increasing these export duties is a good decision and that what is needed now is some kind of commercial measures. A completely different decision could be made," Shmatko said as he took press question about the Finance Ministry's proposal that the oil-product export duties by hiked to 85%-90% of the export duty on oil.
Possible options are now being analyzed, Shmatko said. The Energy Ministry had a meeting Wednesday on this, and another to be chaired by Deputy Prime Minister Igor Sechin is slated for Thursday.
"There is no final answer as to what will be done yet," Shmatko said.
As for the numbers the Finance Ministry has propose, Shmatko said, "These figures, with no additional compensatory decisions, will worsen the economics of oil refineries in Russia." Therefore, the final decision needs to be carefully worked out and "we should make decisions that are methodical in nature," he said.