Russia's oil production, which fell to an 18-month low of 9.72 million barrels a day in April, may decline this year for the first time in a decade as producers struggle with high costs.
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Rocketing Crude Export Tax In Russia
Starting from June Russia is setting a new crude export tax that is to rise by 17 per cent after oil prices rose in March and April
Starting from June Russia is setting a new crude export tax that is to rise by 17 per cent after oil prices rose in March and April.
The tax will be set at 398.10 U.S. dollars a metric ton, the seventh consecutive increase, Alexander Sakovich, deputy head of the Finance Ministry's customs department, said by telephone in Moscow. The current duty is 340.10 dollars a ton, or 46.40 dollars a barrel.
Russia revises its export taxes on crude and oil products every two months based on the previous two-month average price for Urals, the country's benchmark export blend. That stood at a record 102.76 dollars a barrel in the period, Sakovich said.
Russia's oil production, which fell to an 18-month low of 9.72 million barrels a day in April, may decline this year for the first time in a decade as producers struggle with high costs.
Russia's oil production, which fell to an 18-month low of 9.72 million barrels a day in April, may decline this year for the first time in a decade as producers struggle with high costs.
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