Russia to raise oil export duty by $2.3 from November 1 to $26.2 per ton — ministry
According to the Russian Finance Ministry, the average price for Urals oil for the monitoring period from September 15 to October 14, 2023 was $83.35 per barrel.
Russia will raise oil export duty by $2.3 from November 1 this year to $26.2 per ton, according to the telegram channel of the Finance Ministry.
"According to calculations by the Finance Ministry, the export duty on oil in the Russian Federation from November 1, 2023 will increase by $2.3 and amount to $26.2 per ton," the statement says.
According to the ministry, the average price for Urals oil for the monitoring period from September 15 to October 14, 2023 was $83.35 per barrel, or $608.4 per ton. At the same time, the price of North Sea Dated oil for this period was $93.43 per barrel.
According to the Finance Ministry, the duty on light petroleum products and oils will increase by $0.7 to $7.8 per ton, on black oils - by $2.3 to $26.2. The export duties on commercial gasoline and straight-run (naphtha) gasoline will increase by $0.7 to $7.8, and by $1.3, to $14.4 per ton respectively. The duty on liquefied gas (LPG) will be $2.2, the duty on clear fractions of liquefied hydrocarbon gases will be $1.9, in October both of these duties were zero. The duty on coke will increase by $0.2 and amount to $1.7 per ton.
On October 11, the State Duma adopted in the first reading amendments to the Budget Code, which propose calculating the budget rule based on the base oil price set at $60 per barrel. The document is budget-forming and was submitted to the State Duma by the government of the Russian Federation simultaneously with the draft federal budget for 2024-2026.
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Russia will raise oil export duty by $2.3 from November 1 this year to $26.2 per ton, according to the telegram channel of the Finance Ministry.
"According to calculations by the Finance Ministry, the export duty on oil in the Russian Federation from November 1, 2023 will increase by $2.3 and amount to $26.2 per ton," the statement says.
According to the ministry, the average price for Urals oil for the monitoring period from September 15 to October 14, 2023 was $83.35 per barrel, or $608.4 per ton. At the same time, the price of North Sea Dated oil for this period was $93.43 per barrel.
According to the Finance Ministry, the duty on light petroleum products and oils will increase by $0.7 to $7.8 per ton, on black oils - by $2.3 to $26.2. The export duties on commercial gasoline and straight-run (naphtha) gasoline will increase by $0.7 to $7.8, and by $1.3, to $14.4 per ton respectively. The duty on liquefied gas (LPG) will be $2.2, the duty on clear fractions of liquefied hydrocarbon gases will be $1.9, in October both of these duties were zero. The duty on coke will increase by $0.2 and amount to $1.7 per ton.
On October 11, the State Duma adopted in the first reading amendments to the Budget Code, which propose calculating the budget rule based on the base oil price set at $60 per barrel. The document is budget-forming and was submitted to the State Duma by the government of the Russian Federation simultaneously with the draft federal budget for 2024-2026.
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