Zero duty rate may be scrapped

摘要

Russia's Finance Ministry doubts the need to keep the zero export duty rate for East Siberian crude as recent improvements in international oil prices and a favorable transportation fee for crude deliveries eastward via the new East Siberia-Pacific Ocean (ESPO) pipeline have made production in the region profitable even under the normal export duty, a source familiar with the issue told Platts January 22. "Recent calculations have shown that sales of East Siberian crude could be profitable for oil producers even under a standard export duty," the source said.