Abolishing of export duty on crude and oil products can result in 60-pct reduction of Russian terminals’ cargo base - expert

Abolishing of Russia’s export duty on crude and oil products can result in a 60-pct reduction of Russian terminals’ cargo base (by 80 mln t), IAA PortNews correspondent cites Ivan Khomutov, Director for Research Projects of Petromarket RG, as saying at the VI Baltic Oil and Gas Trade and Transportation Conference held in Riga (Latvia). 

According to him, this will escalate the competition between the involved terminals. 

This forecast is made with all other factors held equal and does not take into consideration possible macroeconomic changes, explained the analyst.

Earlier, representatives of Russia’s Ministry of Finance called on abolishing of export duty on crude and oil products.