Russia to lower oil export tariffs

The Russian Finance Ministry announced that as of September 1, 2022, oil export tariff will be lowered by 1.9%, from about to per ton.

The Finance Ministry’s statement, posted on its official website, referred that following its call, the rate levied on exports of light petroleum products and oils will be reduced $15.9 to $15.6 per ton.

Likewise, the one applied with respect to shipments of heavy hydrocarbon products will decrease $53 to $52, the statement detailed.

“The export tax on petrol will drop to $15.6 per ton, and the tax on naphtha will lowed $29.1 to $28.6,” the Finance Ministry stated.

As another determinations is that the liquefied gas invoicing tariff will be $91.6, and that of the same pure fuel fractions will be $82.4. A tax of US$3.3 will be levied on the supply of one ton of coke.

The Finance Ministry specified that from July 15 to August 14, 2022, the average Russian Urals brand oil price was $83.06 per barrel, or $606.4 per ton.