Russia's June crude duty to fall to 419.8/T
Wednesday, 16 May 2012 | 00:00
Russia's duty on crude oil exports for June will decline by 6.4 percent to $419.8 from $448.6 per tonne in May after oil prices weakened, calculations by the finance ministry and Reuters showed on Tuesday.
The government officially announces the export duty at the end of each month. The duty rate for June will be calculated based on monitoring of seaborne Urals URL-E crude oil prices between April 15 and May 14 inclusive.
The average price during the monitoring stood at $114.18, down from 120.76 per barrel in the previous corresponding period, finance ministry official Alexander Sakovich said.
The export duty on crude from some new fields in East Siberia and the Caspian Sea, which enjoy a lower rate than crude from other production areas, will decline to $210.8 from $232.4 per tonne this month.
The protective rate imposed on gasoline and naphtha to prevent shortages on the domestic market will decline to $377.8 from $403.7 per tonne in May.
There are no comments available.