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Russia’s oil export duty to rise to $110.4/T in June

Russia’s oil export duty is expected to rise to $110.4 per tonne in June from $104.6 per tonne in May following a rise in oil prices, the finance ministry said on Wednesday.

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 June export duty from prices recorded between April 15 and May 14.

Export duty per tonne, in U.S. dollars:

                             June        May             RICs
 Average price for          72.23       69.03        URL-NWE-E
 calculation (barrel)                                    URL-E
 Average price (tonne)      527.3       503.9        URL-NWE-E
                                                         URL-E
 Crude oil                  110.4       104.6     CL-EXPDTY-RU
 Discounted rate*             0.0         0.0    DCL-EXPDTY-RU
 High viscosity crude        11.0        10.4   HVCL-EXPDTY-RU
 Light products, middle      33.1        31.3   PROD-EXPDTY-RU
 distillates
 Gasoline                    33.1        31.3    MOG-EXPDTY-RU
 Diesel                      33.1        31.3     DL-EXPDTY-RU
 Naphtha                     60.7        57.5   NPTH-EXPDTY-RU
 Heavy products             110.4       104.6     FO-EXPDTY-RU
 Petroleum coke               7.1         6.7   PETC-EXPDTY-RU
 Oil lubricants              33.1        31.3   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 Vladimir Soldatkin; Editing by Maria Kiselyova)

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