Kazakhstan Doubles Export Tariff on Oil in 2011

From January 1, 2011, Kazakhstan will raise export tariff on oil to USD 40 per ton, up double than that of former standard.

According to the reports by the Interfax on January 6, 2011, the documents of decision on increasing export tariff on oil was signed by Masimov, the premier of Kazakhstan on December 30, 2010.

It is predicted by the Kazakhstan Ministry of Finance that the export tariff on oil in 2011 will bring the financial revenue of Kazakhstani Tenge 421.4 billion (one USD equal to Kazakhstani Tenge 147.17).