Russia's government cuts August petrochemical export duties

27 July 2012 10:56  [Source: ICIS news]

MOSCOW (ICIS)--The Russian government on Friday announced a downward review of its export duties on petrochemical products in August.

Next month, the duty levied on ethylene, propylene, butylene and butadiene will amount to $68.90/tonne (€55.81/tonne), down from $133/tonne in July, according to the decree signed by Russian Prime Minister Dmitry Medvedev.

Russia's export duty levied on gasoline and naphtha will be cut to $302.90/tonne from $332.40/tonne in July.

From 1 August, the duty levied on benzene, xylenes and toluene is set at $222.10/tonne, down from $243.70/tonne.

Russia reviews its export duties levied on petrochemical products on a monthly basis following changes of the crude oil export duty. From 1 August, Russia's export duty levied on crude oil amounts to $336.60/tonne, down from $369.30/tonne in July.

($1 = €0.81)

By: Sergei Blagov
+44 20 8652 3214

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