From today, the oil export duty will fall by 3.4% – to 404.5 USD / t

1st November 2012 / Asia in focus / Comments are Disabled

Quote.rbc.ru 01.11.2012 08:45

export duty on crude oil from today – November 1, 2012. – Decreased by 3.4% – to 404.5 USD / t to 418.9 USD / t in October 2012. An executive order signed by Prime Minister Dmitry Medvedev.

preferential rate of export duty on crude oil from fields in Eastern Siberia, LUKoil two fields in the Caspian Sea, as well as Prirazlomnoye Gazprom from 1 November 2012. amount of $ 199.4 / t vs. 210.1 USD / t the previous month.

preferential duties on high-viscosity oil, approved by 10% of the total duty on oil from November 1, will be reduced to 40.4 USD / t from 41.8 USD / t in October.

flat rate of export duty on light and dark oil products, except gasoline, calculated by the method of “60/66/90″, November 1, 2012. will be $ 267 / t vs. 276.4 USD / t in October. In this case, the duty on petrol, kept at 90% of the duty on oil in November fell to 364.1 dollars / ton (377 USD / t in October 2012.).

duty on liquefied petroleum gas (LPG) from November 1, will be U.S. $ 192.4 / t vs. 172.5 USD / t the previous month.

Recall, October 1, 2011. was the transition to a new methodology for calculating export duties on oil and oil products – the so-called system of “60/66/90.” The export duties on light and dark oil products now unified and is calculated by a factor of 0.66 (66%) of the rate of duty on oil. Simultaneously reduced export duty on oil by reducing percentage of the difference between the price of oil and the cost of monitoring to cut operating above 65% to 60%. The coefficient of calculating the rate of protective duties on gasoline is 0.90 (90%).

Tags: 3.4% 404.5 duty export fall from today