Russia's oil export duty will be hiked to $250.3 per tonne starting on October 1,2007, Alexander Sakovich, Deputy Head of the Customs Payments Department of the Russian Finance Ministry, told journalists today, RBC reports.
The government has set the duty on refined oil products at $181 and $97.5 per tonne of light and heavy oil products, respectively. The new oil export duties were set on the basis of an average monthly global oil price, which stood at nearly $71.61 in July-August.