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Russian Oil Export Duty Could Rise To 250 Dollars Per Ton
Moscow (RIA Novosti) Aug 28, 2007 Duty on Russian oil exports could rise by up to $26, reaching $248-250 per metric ton as of October 1, in keeping with world market trends, a Finance Ministry official said Monday. The Russian government adjusts export duty on crude and petroleum products every two months, depending on changes in the Urals blend price on world markets. "The average oil price monitored from July to August 27 was $71.83 per barrel. Therefore, the oil export duty could be set within the range of $248-250 per metric ton," said Alexander Sakovich, deputy head of the ministry's customs department. Crude export duty was $223.9 per ton as of August 1. The new figure will be higher than last year's record oil duty of $237.6 per ton, Sakovich said. Budget revenue from the export of oil and petroleum products in 2007 will at least equal last year's figures, irrespective of world oil prices in September-December, Sakovich said.
Source: RIA Novosti Community Email This Article Comment On This Article Related Links Powering The World in the 21st Century at Energy-Daily.com
Analysis: Mideast held back by cheap fuel
Washington (UPI) Aug 24, 2007 Faced with high international oil and gas prices, some Middle Eastern countries are struggling to squirm out from under hugely popular, but economically crushing, energy subsidies. |
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