10 Nov 2010 11:47

Export duty on Russian crude could rise to $302-304/tonne on Dec 1

MOSCOW. Nov 10 (Interfax) - The export duty on Russian crude oil could rise to $302-304/tonne on December 1, from $290.6 at present.

Alexander Sakovich, the Finance Ministry official in charge of customs payments, told Interfax that Russian crude averaged at $82.33 a barrel in the observation period October 15-November 10, inclusive. It could average at $84-$87 if current trends persist in the three days that remain until the observation period ends. The average for the whole period would then be $82.570$83 a barrel, and the maximum duty on that basis would be $302-$304/tonne.

Sakovich said the discounted export duty on East Siberian oil and, for the first time, Caspian oil, could be $107-$108 a tonne in December.

The duty on east Siberian oil is currently $98.8 a tonne.

Sakovich said a decision by the Customs Union commission for the discounted duty to extend to the Caspian oil ought to come into effect in the first ten days of December.

The duty on light petroleum products might be $216-$217/tonne on December 1, and that on dark products $117, up from $208.1 and $112.1, respectively, at present.