Russia cuts petchem export duties

28 March 2013 12:51  [Source: ICIS news]

MOSCOW (ICIS)--Russia's government said on Thursday that it is to cut export duties on a raft of petrochemical products, including a sizable downward review of duties levied on some monomers.

The duties levied on ethylene, propylene, butylene and butadiene will be cut down to $70.50/tonne (54.99/tonne) in April 2013 from $131.40/tonne in March, according to a decree released on Thursday and signed by Prime Minister Dmitry Medvedev.

Russia's Export duties levied on gasoline and naphtha will amount to $361.40/tonne next month, down from $378.60/tonne in March.

From 1 April, the duties levied on benzene, xylene and toluene are set at $265.00/tonne, down from $277.60/tonne in March.

Russia reviews its export duties levied on petrochemical products once a month, largely in accordance with changes to the crude oil export duty. From 1 April, Russia's export duty levied on crude oil will amount to $401.50/tonne or down from $420.60/tonne in March.

($1 = €0.78)

By: Sergei Blagov
+44 20 8652 3214

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