MOSCOW, Aug 17 (Reuters) - Russia’s oil export duty CL-EXPDTY-RU is expected to fall 18 percent month-on-month to $109.2 per tonne in September due to lower oil prices, calculations by the Finance Ministry and Reuters showed on Monday.
The rate is based on price monitoring of seaborne Urals URL-E URL-NWE-E crude oil prices from July 15 through August 14. The oil export duty stood at $133.1 per tonne in August.
The average Urals price for the latest period was $51.09 per barrel, down from $58.92 in the previous period, said Alexander Sakovich, an official at the Finance Ministry. The discounted rate would most likely be set at zero.
Last year, President Vladimir Putin approved changes to a tax law reducing oil export duties and increasing taxes for mineral extraction to try to balance the needs of producers and the Russian budget.
Export duty per tonne, in U.S. dollars:
Sept Aug RICs Average price for 51.09 58.92 URL-NWE-E, URL-E calculation(barrel) Average price 373.0 430.1 URL-NWE-E, URL-E (tonne) Crude oil 109.2 133.1 CL-EXPDTY-RU Discounted rate * 0.0 0.0 DCL-EXPDTY-RU High viscosity 13.7 17.0 HVCL-EXPDTY-RU crude Light products, 52.4 63.8 PROD-EXPDTY-RU middle distillates Diesel 52.4 63.8 DL-EXPDTY-RU Oil lubricants 52.4 63.8 MOIL-EXPDTY-RU Gasoline 85.1 103.8 MOG-EXPDTY-RU Naphtha 92.8 113.1 NPTH-EXPDTY-RU Heavy products 82.9 101.1 FO-EXPDTY-RU Coke 7.0 8.6 PETC-EXPDTY-RU LPG 0.0 0.0 LPG-EXPDTY-RU
* The discounted rate for crude produced at newer fields in eastern Siberia and fields operated by Lukoil in the Caspian Sea. (Reporting by Olesya Astakhova; Writing by Katya Golubkova; Editing by Alexander Winning)