Russia's October oil export tax may be reduced by 2.6%

According to Norway’s “Upstream Online” report on September 15, Moscow, due to the drop in oil prices, Russia plans to cut its oil export tax for October by 2.6% to 266.50 US dollars per ton.

Russia’s oil export tax for September was US$273.50 per ton. The October oil export tax was calculated based on the average price of Ural crude oil in the international market from August 15 to September 15.

Alexander Sakovic, the Russian Finance Ministry official, said that the average price of Ural crude during this period was US$75.01 per barrel, which was a decrease of US$1.47 per barrel over the previous monitoring period.

It is reported that the export tax for petroleum produced in Russia’s new oil field in East Siberia in October will fall from US$87 per tonne in September to US$82.17.