Russia To Reinstate E Siberia Oil Export Duty Jul 1-Government Source
15 June 2010 - 9:12PM
Dow Jones News
Russia's government has decided to partially reinstate export
duty on crude oil produced in East Siberia starting July 1, a
government source said Tuesday.
The export duty will be at a lower rate than the normal rate,
the person said, but declined to be more specific.
The government canceled export duty at 22 East Siberian oil
fields--including the huge Vankor field developed by state oil
company OAO Rosneft (ROSN.RS)--from the beginning of 2010 to
stimulate investment in the region.
Russian Deputy Finance Minister Sergey Shatalov said earlier
this month the government was discussing a reduced export duty of
45% of the standard duty, and that reduced rate could only be
calculated on the share of the oil price above $50 a barrel.
-By Will Bland and Jacob Gronholt-Pedersen, Dow Jones Newswires;
+7 495 232 9197; jacob.pedersen@dowjones.com
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