According to a government press release, Russia has lowered the export tax on crude oil from US $192.1 per ton to $119.1 per ton, effective from January 1, 2009. Other than crude oil, tax on export of light oil products will fall from $141.8 per ton to $92.6 per ton.
Proportionately, heavy oil products will witness a lowered export tax of $49.9 per ton from $76.4 per ton. Among the products which will derive benefits from the effects of lowering of export tax are light distillates, medium distillates, ethylene, propane, butane, propylene and aromatics like benzene, toluene and xylene.
Fibre2fashion News Desk - India
marketing@alchempro.com
