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Export Duty On Oil In Russia Has Decreased

Export Duty On Oil In Russia Has Decreased

The export duty on oil in Russia from may 1, 2020 will be $6.8 per ton, according to materials on the website of the Ministry of Finance of the Russian Federation.

This is the minimum amount of the fee for the period of its operation in the 2000s.

It is currently $52 per ton. Thus, the duty will be reduced by $45,2.

The average price of Urals oil for the monitoring period from March 15, 2020, to April 14, 2020, was $19,00075 per barrel, or $138.7 per ton.

The duty on high-viscosity oil will be lowered to $1 from $5.2.

The preferential oil duty rate for several fields in Eastern Siberia, the Caspian fields, and the Prirazlomnoye field due to the new calculation formula adopted as part of the tax maneuver in the oil industry, has remained at zero since February 1, 2015.

The duty on light petroleum products and oils will be lowered to $2 from $15.6 per ton and on dark products-to $6.8 from $52.

The duty on the export of commercial gasoline will be lowered to $2 from $15.6, and straight – run (NAFTA) - to $3.7 from $28.6 per ton.

The duty on liquefied gas will remain at zero, and on pure LPG fractions, it will also be zero.

The duty on coke will be lowered to $0.4 from $3.3 per ton.

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