Russia May Implement New Oil Duty Schedule in August

[2011-06-28 10:57:42]


Russia could begin using a new system for calculating the export duty on crude and oil products and even the rates on light and dirty sorts beginning in August this year, Deputy Russian Finance Minister Sergey Shatalov told journalists during an economic forum in Paris.

"We wanted to begin using it in July, but it's clear we won't be able to that soon. Whether or not we will manage to do it in August depends on negotiations between companies and the ministries and whether or not there will be any compensation involved", Shatalov said.

the new formula for calculating export duties is the so-called 60-66 system, which envisions lowering the coefficient on the duty for crude from 0.65 to 0.60 and at the same time bringing the rates on light and dirty oil products up to 60 percent of the crude export duty.

Shatalov also said that the Finance Ministry was suggesting that when oil prices exceed $95 a barrel, the rate on light oil products could raise to 90 percent.
Source: Oil and Gas Eurasia
Keywords:RussiaOilDuty
Related Articles:
    {tag_内容页相关信息}
Most Read
    {tag_栏目页热点}
Related Photos
{tag_栏目页图片文章}