BELARUS NEWS AND ANALYSIS

DATE:

28/09/2007

Belarus to up export duty on oil, petroleum products on Oct 1

MINSK. Sept 28 (Interfax) - The Belarussian government will increase the export duty on oil and petroleum products to the level of Russia on October 1, 2007, the Council of Ministers said in a resolution.

The export duty on oil will be $250.3 per tonne on October 1. The export duty on light petroleum products will be $181 per tonne. The duty on heavy petroleum products will be $97.5 per tonne.

According to an intergovernmental agreement of January 12, 2007, the export duty on oil and petroleum products will be unified to the level of Russia. According to the agreement, the new export duties on oil and petroleum products should be introduced in Belarus at the same time as in Russia.

The special duty on oil exports from Russia to Belarus will grow to $73.3 per tonne on October 1 from $65.6 per tonne, which has been in effect since August 1 and is calculated based on the coefficient of 0.293 against the Russian duty on oil in line with a Belarussian and Russian agreement.

The Russian duty on crude oil is a mechanism to divide Belarussian export duties on petroleum products and to increase them to the Russian level. The duty on crude oil in annual terms corresponds to 70% of the export duty on petroleum products produced from Russian oil.

The descending coefficient against the Russian export duty on oil for Belarus will be 0.335 in 2008 and 0.356 in 2009. rm

Source:

http://www.interfax.ru/e/B/finances/26.html?id_issue=11866767