Russia's export duty on oil to fall $1.5 to $24.7 per tonne on Dec 1 - MinFin

MOSCOW. Nov 15 (Interfax) - The export duty on Russian oil will fell $1.5 to $24.7 from $26.2 per tonne on December 1, according to the Finance Ministry's calculations.

The duty rose $2.3 in November, 2.5% in October, $4.5 in September and $1.3 in August after falling $0.6 in July. It had risen in March through June, by $1.4 in March, $0.1 in each of April and May and $1.8 in June. It fell in the first two months of the year, plummeting as much as 61.5% in January.

The average price for Urals oil for the monitoring period from October 15-November 14 was $79.23 per barrel, or $578.4 per tonne.

The price for North Sea Dated (Brent) oil for the period was $88.62, thus the Urals discount to Brent has fallen to 10.6%, from 10.8% the previous month.

The duty on light petroleum products and lubricants will fall to $7.4 from per tonne in December and it will fall to $24.7 for heavy petroleum products and lubricants.

The export duty on commercial gasoline will fall to $7.4 from $7.8 per tonne, and that on straight-run (naphtha) gasoline to $13.5 from $14.4 per tonne.

The duty on liquefied gas will be $4.7 and that on pure fractions of liquefied hydrocarbon gas will be $4.2, up from $2.2 and $1.9 at present.

The export duty on coke will fall to $1.6 from $1.7 per tonne.

Russia's 2023 budget assumes a Urals crude price of $70.1/bbl.