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Information publication In Russia, the export duty on oil
October 02 2017

In Russia, the export duty on oil

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In Russia, the export duty on oil

The duty on oil exports from Russia is rising from 1 October. According to the estimates of the Ministry of Finance, the amount of the duty will now reach $ 87,9 per ton, which is $ 3,8 higher than the September rate ($ 84,1 per tonne). The export duty on high-viscosity oil increased from $ 12,9 to $ 13,6 per ton. The duty on light oil products and oils increased from $ 25,2 to $ 26,3, to dark ones - from $ 84,1 with $ 87,9 per ton. The preferential duty rate for oil from Eastern Siberia, Caspian fields and Prirazlomnoye field remains zero.
At the end of September, the ministerial committee of OPEC + discussed the export data of oil producing countries under the agreement on limiting production to stabilize prices. According to Venezuelan Energy Minister Eulochio Del Pino, "it is very important to look at how exports are correlated with production." Following the meeting, the head of the Ministry of Energy of Russia Alexander Novak said that for eight months of the year 2017 the parties fulfilled their obligations by 99%, which, he said, is "an unprecedentedly high level."


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