Kazakhstan Tuesday revived export duties on oil and confirmed the Karachaganak project and the Tengizchevroil project involving Chevron Corp. (CVX) and Exxon Mobil Corp. (XOM) will be required to pay.

Crude oil exports will be taxed as expected at $20 a metric ton, while refined products will have higher duties, according to government officials who gathered Tuesday at a meeting in the capital, Astana, Russian newswires reported.

Kazakhstan had canceled oil export duties in January 2009. The renewed levies are only a fraction of what companies face in neighboring Russia .

Finance Minister Bolat Khamishev said the new duties will apply to Tengizchevroil and the Karachaganak Petroleum Operating Group, led by Eni SpA (ENI.MI) and BG Group PLC (BG.LN), and that he hopes they will raise 60 billion tenge ($400 million) by the end of the year and KZT117 billion next year.

KPO said it is aware of the officials' stated plans but declined to comment until it receives official notification on the taxes in detail. The export duty "should not apply to Karachaganak" because of tax stabilization provisions in its agreements with the government, KPO said.
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