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2012 November 27   13:13

Russia slashes oil export duty as of Dec. 1, 2012

Export duty on crude oil from Russia will be decreased from $404.5 to $396.5 a ton, incentive rate will be cut down to $193.3 a ton, effective as of December 1, 2012.

The RF Government decree (No 1201, Nov.22, 2012) with the approved rates of export duties on crude oil and certain types of products produced from oil exported from the Russian Federation and the territory of the Customs Union member states has been published on the Russian Government’s website.

Export duty on light and dark oil products will be at $ 261.7 a ton. Duty on high viscosity oil is at $ 39.6 a ton.

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