Russia To Cut Export Duty On Super Viscous Oil By 90% -Report
February 29 2012 - 2:48AM
Dow Jones News
Russia plans to cut the export duty on super viscous oil to 10%
of the existing rate, which is calculated every month based on
crude-oil prices, the Kommersant daily reported Wednesday.
The new tax regime, which is to be introduced July 1, 2012, will
benefit such companies as OAO Lukoil Holdings (LKOH.RS), Tatneft
(TATN.RS)and Alliance Oil.
Russia's energy ministry estimated that oil companies will be
able to save as much as $1.3 billion as a result, the daily
said.
Newspaper website: www.kommersant.ru
-By Moscow Bureau, Dow Jones Newswires; +7 495 232 9192
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