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Oil export duties decreases to $ 77.2 per ton

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Oil export duties decreases to $ 77.2 per ton
December 16
13:00 2019

The Ministry of Finance of the Russian Federation has issued a message regarding the amount of oil export duties. So, from the beginning of the new year, this tax will amount to $ 77.2 per ton of “black gold”. This is $ 13.3 less than the current value of export duties ($ 90.5 per ton).

The values of duties on other types of energy carriers have been revised too. The duty on oil, which is classified as highly viscous, will decrease from $ 9 to $ 7.7. Due to its high density, this oil cannot be extracted by traditional methods.

Oil produced in the Caspian fields and in Eastern Siberia will be subject to zero duties.

There is also a classification for light and dark petroleum products. For example, the dark oil includes bitumen, tar and fuel oil. So, the duty on light petroleum products and oils will change from $ 27.1 to $ 23.1 per ton; on dark products – up to $ 77.2 (from $ 90.5 per ton).

Only the duty on liquefied gas will be revised upward. It was zero, and from January 1, 2020 it will become equal to $ 3.8.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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