Russian Prime Minister Signed Decree to Raise Petroleum Export Duty in May

According to a report on April 29, 2010 from Itar-Tass in Moscow, Prime Minister of the Russian Federation Government, Mr. Vladimir Putin, signed a Decree to raise Russian export duty on petroleum in May 2010. In accordance with the Decree, the export duty on petroleum will be raised to USD 284 per ton from current USD 268.9 per ton as of May 1, 2010.

Meanwhile, Russian export duty in May on light petroleum products will be raised to USD 203.7 per ton from current USD 193.5 per ton, while that on heavy petroleum products will be raised to USD 109.7 per ton from current USD 104.2 per ton.

In addition, Russian export duties on propane, butane, ethylene, propylene, butylenes, butadiene and other liquefied gas will be reduced in May 2010 to USD 53 per ton from current USD 65 per ton.