March 16, 2020 / 9:21 AM / 16 days ago

UPDATE 1-Russia's oil export duty to fall to $52/T from April -finmin

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    MOSCOW, March 16 (Reuters) - Russia's oil export duty CL-EXPDTY-RU will fall by $14.9 to
$52 per tonne from April 1, following a sharp drop in oil prices, the finance ministry said on
Monday. 
    The level of the duty is calculated by the finance ministry and is based on the monitoring
of seaborne Urals URL-E, URL-NWE-E crude oil prices.
    The ministry made its calculations for the April export duty from prices recorded between
Feb. 15 and March 14. Oil export duty currently stands at $66.9 per tonne. 
    Export duty per tonne, in U.S. dollars:

                                        April         March        RICs
 Average price for calculation          47.27        57.50         URL-NWE-E URL-E
 (barrel)                                                          
  Average price (tonne)                 345.1        419.7         URL-NWE-E URL-E
  Crude oil                             52.0         66.9          CL-EXPDTY-RU
  Discounted rate*                      0.0          0.0           DCL-EXPDTY-RU
  High viscosity crude                  5.2          6.6           HVCL-EXPDTY-RU
  Light products, middle distillates    15.6         20.0          PROD-EXPDTY-RU
  Gasoline                              15.6         20.0          MOG-EXPDTY-RU
  Diesel                                15.6         20.0          DL-EXPDTY-RU
  Naphtha                               28.6         36.7          NPTH-EXPDTY-RU
  Heavy products                        52.0         66.9          FO-EXPDTY-RU 
  Petroleum coke                        3.3          4.3           PETC-EXPDTY-RU
  Oil lubricants                        15.6         20.0          MOIL-EXPDTY-RU
  Propane-butane blend                  0.0          0.0           LPG-EXPDTY-RU
  LPG clean fractions                   0.0          0.0           BUT-EXPDTY-RU 
 The discounted rate for crude produced at newer fields in eastern Siberia, fields operated by
Lukoil in the Caspian Sea and Gazprom Neft's Prirazlomnoye offshore Arctic field.

 (Reporting by Darya Korsunskaya
Writing by Katya Golubkova,
Editing by Alexander Marrow)
  
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