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Russia To Cut Export Duty On Super Viscous Oil By 90% -Report

Russia To Cut Export Duty On Super Viscous Oil By 90% -Report
dj
Πεμ, 1 Μαρτίου 2012 - 17:36
Russia plans to cut the export duty on super viscous oil to 10% of the existing rate, which is calculated every month based on crude-oil prices, the Kommersant daily reported Wednesday.
Russia plans to cut the export duty on super viscous oil to 10% of the existing rate, which is calculated every month based on crude-oil prices, the Kommersant daily reported Wednesday.

The new tax regime, which is to be introduced July 1, 2012 , will benefit such companies as OAO Lukoil Holdings (LKOH.RS), Tatneft (TATN.RS)and Alliance Oil.

Russia 's energy ministry estimated that oil companies will be able to save as much as $1.3 billion as a result, the daily said.
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