Export duties on light and dark oil products are likely to become equal from Jan 1, 10
The Economic Development Ministry has proposed equalizing export duties on light and dark oil products effective January 1, 2010 in order to encourage oil companies to produce higher value-added products, deputy head of the ministry Andrey Slepnev said. “We have proposed doing this as early as January 1, 2010”, he said. Slepnev went on to say that the deadline for imposing the duty and its rate are being coordinated with the Ministry of Energy. Export duty on light products currently accounts for about 73% of the crude oil duty and only 39% on dark products. From October 1 to November 1, they stand at USD174.5 and USD94 per ton, respectively, given the oil export duty of USD240.7 per ton.