Reuters (17/12/2018) - MOSCOW, Dec 17 (Reuters) - Russia’s oil export duty CL-EXPDTY-RU is expected to fall by around 34 percent in January from December to $89 per tonne, as a new tax regime kicks in next year and oil prices decline, the Finance Ministry said on Monday.

This was in line with Reuters calculations made last week.

Russia’s export duty for liquefied petroleum gas (LPG) is seen falling to zero. The Russian government wants to gradually reduce oil export duty to zero in the next five years, while raising the mineral extraction tax.

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 January export duty from prices recorded between Nov. 15 and Dec 14.

Export duty per tonne, in U.S. dollars:

January December RICs Average price for 60.47 73.39 URL-NWE-E calculation (barrel) URL-E Average price (tonne) 441.4 535.8 URL-NWE-E

URL-E Crude oil 89.0 135.1 CL-EXPDTY-RU Discounted rate* 0.0 0.0 DCL-EXPDTY-RU High viscosity crude 8.9 22.3 HVCL-EXPDTY-RU Light products, middle 26.7 40.5 PROD-EXPDTY-RU distillates Gasoline 26.7 40.5 MOG-EXPDTY-RU Diesel 26.7 40.5 DL-EXPDTY-RU Naphtha 48.9 74.3 NPTH-EXPDTY-RU Heavy products 89.0 135.1 FO-EXPDTY-RU

Petroleum coke 5.7 8.7 PETC-EXPDTY-RU Oil lubricants 26.7 40.5 MOIL-EXPDTY-RU Propane-butane blend 0.0 22.1 LPG-EXPDTY-RU LPG clean fractions 0.0 8.8 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 Vladimir Soldatkin; editing by Maria Kiselyova)

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