21 Sep 2009 12:58

Russia enacts new customs code for Eastern Siberian oil

MOSCOW. Sept 21 (Interfax) - The new customs code for oil extracted at 13 fields in Eastern Siberia entered force on September 21.

The new code, contained in a government resolution (N574) dated July 16, 2009, applies to oil with a specific gravity of 694.7-872.4 kilograms per cubic meter and a sulfur content of 0.1%-1%. The 13 fields are: Vankorskoye, Yurubcheno-Tokhomskoye, Talakanskoye (including the eastern block), Alinskoye, Srednebotuobinskoye, Dulisminskoye, Verkhnechonskoye, Kuyumbinskoye, Severo-Talakanskoye, Vostochno-Alinskoye, Pilyudinskoye, Stanakhskoye and Verkhnepeleduiskoye.

The new code enables the government to reduce the export duty on Eastern Siberian crude oil to zero.

The Federal Customs Service and the Energy Ministry worked out the procedures regulating oil from the Eastern Siberian fields in September. The zero export duty will apply based on a certificate of origin to be provided to oil producers by the Energy Ministry.

In order to receive the certificate of origin, the producer must provide the Energy Ministry with copies of the daily certificates of oil shipments from the field in the accounting month, copies of the analysis of the oil's properties in the accounting period, and copies of the license to the deposit and accompanying licensing agreements.