Oil export duty in Russia to go up starting December 1

Russia’s oil export duty will go up by $0.6 to $43.3 per ton starting December 1, 2022, the Finance Ministry reported on Tuesday.

The average price of the Urals crude oil amounted to $71.1 per barrel, or $519.2 per ton, in the monitoring period from October 15 to November 14, 2022, according to the ministry.

The export duty per ton will increase to $12.9 from $12.8 on light oil products and oils, to $43.3 from $42.7 on dark oil products, to $12.9 on commercial gasoline, and to $23.8 from $23.4 on naphtha (straight-run gasoline), according to the ministry’s calculations.

The duty on liquefied natural gas and clean fractions of liquefied petroleum gas will total $80.9 and $72.8 per ton, respectively. The coke duty will amount to $2.8 per ton.

The oil export duty currently stands at $42.7 per ton.