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Russia’s oil export duty to rise to $104.6/T in May

Russia’s oil export duty CL-EXPDTY-RU is expected to rise to $104.6 per tonne in May from $97.4 per tonne in April following a rise in oil prices, the finance ministry said on Monday. The level of the duty is calculated by the finance ministry and is based on the monitoring of seaborne Urals URL-E URL-NWE-E crude oil prices.

The ministry made its calculations for the May export duty from prices recorded between March 15 and April 14. Export duty per tonne, in U.S. dollars:

                             May        April           RICs
 Average price for          69.03       65.07        URL-NWE-E
 calculation (barrel)                                    URL-E
 Average price (tonne)      503.9       475.0        URL-NWE-E
 Crude oil                  104.6        97.4     CL-EXPDTY-RU
 Discounted rate*             0.0         0.0    DCL-EXPDTY-RU
 High viscosity crude        10.4         9.7   HVCL-EXPDTY-RU
 Light products, middle      31.3        29.2   PROD-EXPDTY-RU
 Gasoline                    31.3        29.2    MOG-EXPDTY-RU
 Diesel                      31.3        29.2     DL-EXPDTY-RU
 Naphtha                     57.5        53.5   NPTH-EXPDTY-RU
 Heavy products             104.6        97.4     FO-EXPDTY-RU
 Petroleum coke               6.7         6.3   PETC-EXPDTY-RU
 Oil lubricants              31.3        29.2   MOIL-EXPDTY-RU
 Propane-butane blend         0.0         0.0    LPG-EXPDTY-RU
 LPG clean fractions          0.0         0.0    BUT-EXPDTY-RU

The discounted rate for crude produced at newer fields in eastern Siberia, fields operated by Lukoil LKOH.MM in the Caspian Sea and Gazprom Neft’s Prirazlomnoye offshore Arctic field.

Source: Reuters (Reporting by Darya Korsunskaya Writing by Maria Kiselyova)

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