Export duty on oil to remain unchanged

The export duty on oil may remain unchanged at $180.7 per tonne from February 1, 2007, Alexander Sakovich, head of the customs duties department of the Russian Finance Ministry, told RBC TV today. He pointed out that if the average oil price remained at the current level of $58 per barrel, the export duty would not change. Sakovich also added that if the oil price reached $60 per barrel, the duty would be $182.6 per tonne, and if it dropped to $55 per barrel, the duty would amount to $178 per tonne. However, Sakovich thinks that the export duty on oil is likely to remain within the current range. The export duties on refined oil products are also likely to remain at the current level.