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Russia may raise oil export duty on its Urals blend to adapt prices to global oil markets

16 March 2010 , 08:55RIA Novosti1742

 

Russia may raise oil export duty on its Urals blend from the current $253.6 to $268.9 per metric ton from March 1, following trends on global oil markets, a Finance Ministry official said. Alexander Sakovich, who is the head of the ministry's consolidated analysis department, said the average oil price was $75.52 per barrel from February 15 to March 14.


Export oil duty should therefore equal $268.9 per metric ton from April 1, with duty on light petroleum products rising to $193.5 per ton from the current $183.2 per ton, and duty on heavy petroleum products to $104.2 per metric ton from the current $98.7 per metric ton. The government adjusts oil export duties on a monthly basis to reflect changes in world oil prices.

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