Cabinet of Ministers to discuss the introduction of a special formula of export duty for superviscous oil

​The Government of Russia will discuss a draft law on the application of a special formula of export duty for superviscous oil.

The draft law adds the law “On customs tariff” by the norm giving the Government the right to set special formulas of export duty for crude superviscous oil for 10 years from the year of putting the layer of deposit into operation.

The application of tax preferences will allow to stimulate the development of deposits of superviscous oil and will have a positive impact on the development of innovation technologies of extraction.

The export duty for superviscous oil from February 1st fell to $5.9 from $8.7/tons in January.

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