Russia Prepares Extraction Tax Breaks for Heavy Oil Deposits

- September 2nd, 2011

Bloomberg reported that heavy oil refiners in Russia may receive a tax break to offset increased export duties.

Bloomberg reported that heavy oil refiners in Russia may receive a tax break to offset increased export duties.

The market news is quoted as saying:

Russia plans to unify export duties on light fuels such as diesel and raise them on heavy products such as fuel oil, taxing them both at 65 percent of the crude oil levy starting from Oct. 1.

To read the full market news, click here.

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