Russian Oil Export Duty Drops 9% to $336.60/Tonne

Interfax reported that the export duty on oil from Russia has decreased to USD 336.60 per tonne from USD 369.30 as of August 1 under a government resolution signed on July 23.

The discounted duty on oil has dropped to USD 148.40 per tonne from USD 173 per tonne in July. The duty on superviscous oil, which is 10% of the duty on oil has dropped to USD 33.60 per tonne as of August 1 from the USD 36.90 that went into effect on July 1.

The duty on light and dark oil products which was unified to 66% of the duty on crude oil as of October 1 2011 has decreased to USD 222.10 per tonne from USD 243.70 in July. The duty on gasoline exports, based on a ratio of 0.9, has dropped to USD 302.90 per tonne as of August 1 from USD 332.40 in July.

The export duty on propylene trimers and tetramers has decreased to USD 21.80 per tonne from USD 24 per tonne in July. The export duty on liquefied petroleum gas (LPG) has dropped by 48% to USD 68.90 per tonne as of August 1.