Russia's oil export duty may drop 12% in July
Russia's Finance Ministry expects oil export duties to go down from the current $419.80 per ton to $369.30 per ton effective July 1, 2012, RBC reports quoting the ministry's chief expert Alexander Sakovich.
The forecast is based on the price of Urals crude between May 15 and June 14, 2012, when it averaged $102.67 per barrel, he explained.
The rate of $243.70 per ton would be applicable to exports of light and heavy oil products effective July 1, down from the current $277 per ton, while the gasoline duty set at 90% of the oil export rate would fall to $332.40 per ton, down from $377.80.
The discount duty on oil exports from a number of East Siberian fields and Lukoil's two Caspian Sea fields would amount to $173 per ton, down from the current $210.80 per ton.
