Kazakhstan's government has decided to impose an oil export duty of $109.91 per tonne. "The proposed export duty is set at $109.91 per tonne, based on a global oil price of $714.9 dollars per tonne in the first quarter of 2008," Industry and Trade Minister Vladimir Shkolnik said at Tuesday's Cabinet meeting, Interfax reports.
"Imposing the export duty on crude oil will boost budget revenues by $1 billion by the end of this year, provided that this export duty comes into effect a month after the official publication of the government's decision," Shkolnik said.