Source Pravda.Ru

Oil export tax may be increased

The government commission on antidumping measures and customs policy recommended an increase in export tax on crude oil and oil products up to $29.8 per ton effective December 1, 2002, the press secretary of Deputy Prime Minister Alexey Kudrin declared today.

The current export tax on crude oil is $26.2 per ton. According to materials prepared for a meeting of the commission, the average price for Urals oil was $26.49 per barrel or about $194 per ton in September-October 2002. The increase in the tax will result in $30m-35m in additional revenues to the 2002 federal budget.