Fri 14 Jan 2011 08:19

Russia may raise fuel oil tax by 32.6%


Fuel oil export duty may increase by up to $39.80 per tonne in Feburary.



Russia's oil export duty on fuel oil may increase by up to $39.80 per tonne, or 32.6 percent, next month, according to calculations based on Finance Ministry data.

The duty on fuel oil could rise to between $161 and $161.70 per tonne, up from the current $121.90 per tonne, which became effective on January 1st 2011. The tax charge in December had been US$116.9 per tonne.

The export tax on light oil products may be increased to between $231 and $232 per tonne from $226.20 a tonne. In December the figure was $217 per tonne.

Under Russian port regulations, vessels taking on bunker fuel without carrying out cargo operations are forced to pay either the fuel oil export duty for purchases of intermediate fuel oil such as 380-centistoke (cst) and 180-cst, or the duty on light refined fuels for refuelling with distillate grades such as marine diesel oil (MDO) and marine gas oil (MGO).

Meanwhile, Russia's export duty on crude oil shipments may rise in February by as much as $28.80 per tonne, or 9.1 percent, to $346.30 per tonne from $317.50 per tonne.

Russia's crude export tax is based on the average price for Urals, the country's benchmark export blend, from the 15th day of one month to the 14th day of the next.

Alexander Sakovich, a finance ministry official, informed Reuters on Wednesday that the average price between December 15th to January 12th was $91.27 per barrel, up from $85.34 per barrel during the previous period.

Opening of the IMO Marine Environment Protection Committee (MEPC), 83rd Session, April 7, 2025. IMO approves pricing mechanism based on GHG intensity thresholds  

Charges to be levied on ships that do not meet yearly GHG fuel intensity reduction targets.

Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.

Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.

Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.

Stanley George, VPS Group Technical and Science Manager, VPS. How to engineer and manage green shipping fuels | Stanley George, VPS  

Effective management strategies and insights for evolving fuel use.

Sweden flag with water in background. Swedish government bans scrubber wastewater discharges  

Discharges from open-loop scrubbers to be prohibited in Swedish waters from July 2025.

The ME-LGIA test engine at MAN's Research Centre Copenhagen. MAN Energy Solutions achieves 100% load milestone for ammonia engine  

Latest tests validate fuel injection system throughout the entire load curve.

Terminal Aquaviário de Rio Grande (TERIG), operated by Transpetro. Petrobras secures ISCC EU RED certification for B24 biofuel blend at Rio Grande  

Blend consisting of 24% FAME is said to have been rigorously tested to meet international standards.

Avenir LNG logo on sea background. Stolt-Nielsen to fully control Avenir LNG with acquisition  

Share purchase agreement to buy all shares from Golar LNG and Aequitas.

Seaspan Energy's 7,600 cbm LNG bunkering vessel, s1067, built by Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. Bureau Veritas supports launch of CIMC SOE's LNG bunkering vessel  

Handover of Seaspan Energy's cutting-edge 7,600-cbm vessel completed.


↑  Back to Top