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Crude Duties to Hit Records Oct
The RF duty on crude exports is likely to surge by $25 to between $248/ton and $250/ton starting from October 1, 2007, said Alexander Sakovich, who is the deputy to Finance Ministry’s head for customs payments.
Today’s duty on crude exports stands at $223.9/ton; it took effect August 1, having stepped up vs. $200.6/ton charged early this summer.
The duty will climb to the absolute height this year, Sakovich forecasted. The previous record of $237.6/ton was set in October 1, 2006. Then, the price averaged $68.93/bbl, while the current cost is $71.5/bbl.
The duty that is to remain in force till December 1, 2007 will be finally fixed September 3, 2007.
”To prevent the record, the crude price is to shed below $40/bbl in the nearest days, which is most unlikely,” Sakovich pointed out, adding that, taken for 11 months of 2006, the duty on crude exports averaged $198.3/ton, but it will exceed $200/ton if calculated for respective period of this year.
www.kommersant.com
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