Russia plans to hike crude export tax to $175/mt in Oct: official

Moscow (Platts)--25Aug2005

Russia plans to raise crude export duty to a record of at least $175/mt
($23.97/bbl) from Oct 1, up 25% from the current $140/mt, the deputy head of
the finance ministry's customs department said Thursday. 
     "The last week of August can bring some corrections, but I'm sure that in
the end the crude export duties will reach $175 to $180/mt," Alexander
Sakovich told Platts in an interview. 
     Russia reviews export duty every two months on the basis of an average
world price for Urals crude, the country's main export grade. Crude prices
have repeatedly hit all-time highs during 2005, and US benchmark crude briefly
hit $68 in overnight trade Thursday.
     Export duty on oil products will rise to $106.6/mt from the current
$104.1/mt, from August, 27, Sakovich said. The move will affect gasoline,
kerosene, gasoil and other products. Fuel oil duty will increase to $57.4/mt
from the current $56/mt.

For more stories about the Russian oil industry, request a free trial to Neft
Trader at http://www.platts.com/Request%20More%20Information/

Please visit: www.platts.com

Their coverage of energy matters is extensive!!.