Russian oil export duty to rise to $47.5 per tonne from September

Russia’s oil export duty will rise to $47.5 per tonne from September 1, from $46.9 in August, following an increase in oil prices, the Finance Ministry said.

The level of the duty is calculated by the Finance Ministry and is based on the monitoring of seaborne Urals crude oil prices.

The Ministry made its calculations for the September export duty from prices recorded between July 15 and August 14.

The discounted rate for crude produced at newer fields in eastern Siberia, fields operated by Lukoil in the Caspian Sea and Gazprom Neft’s Prirazlomnoye offshore Arctic field.

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