Belarus reduces oil export duties 1 May

As from 1 May 2014 Belarus will reduce export duties on oil and oil products exported outside the customs territory of the Customs Union. The decision is stipulated by Council of Ministers Resolution No. 392 of 24 April 2014, BelTA learnt from the press service of the Belarusian government.

The export duty on crude oil will go down from $387 to $376 per tonne. The duty on straight-run gasoline and commercial gasoline will reduce from $348.3 to $338.4 per tonne. The export duty on light and medium distillates will decrease from $255.4 to $248.2 per tonne. The same duty will be applied to benzene, toluene, xylene, fuel oil, lubricants, waste oils, petrolatum and paraffin, petroleum coke (except for calcinated petroleum coke) and oil bitumen.

The export duty on diesel fuel will be reduced from с $251.5 до $244.4 per 1 tonne, that on liquefied gases will go down from $129.1 to $88.3 per tonne.

The new resolution has amended Council of Ministers Resolution No. 1932 of 31 December 2010, which set export duties on crude oil and several oil product categories while abolishing several previous resolutions of the Council of Ministers. The document was adopted in accordance with Belarus President Decree No. 716 of 31 December 2010, which sets rates for export duties.