[lbo-talk] Russia's oil export duty rises to record $69.9/tonne on Aug 1

[Chris Doss]

Jul 30 2004 4:20PM
Russia's oil export duty rises to record $69.9/tonne
on Aug 1
MOSCOW. July 30 (Interfax) - The export duty rate for
oil will rise to a record high $69.9 per tonne on
August 1. 

It has been $41.6 per tonne since this past June 1. 

The duty taking effect in August is the first to be
calculated using a new scale for increasing deductions
amid higher world prices for crude. 

The oil export duty will be revisited every two months
on the basis of bi-monthly price monitoring for
Russian crude on world markets. The duty taking effect
August 1 is based on price monitoring for May-June. 

The average price for Russia's Urals oil was $33.58
per barrel from May 1 to June 30, compared with $30.53
per barrel in March-April. 

		
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