Oil Companies Play with Export Duties Delaying Loading at Ports

The media noted that in view of significant price volatility of oil the export duty may vary considerably from month to month (it is established on a monthly basis). In this connection, on the last day of the month in case of future reduction of the export duty, oil shipping companies try to delay tankers shipping and to postpone it to the beginning of next month, and to pay the export duty taking into account the reduction of the latter.

Thus, according to the information available, in late September, one of the shippers deliberately delayed the tanker shipping in the port of Primorsk. The loading of the moored tanker was kept back for a few hours, and instead of the 30th of September the cargo was shipped on the 1st of October, that is why the duty will be paid at the new lower rate. Thus, taking into account the reduction of the duty in October by about USD 20, compared to September, oil companies have been able to save and to actually to pay the budget about USD 2 million less.

Such tactics have a negative impact on the operation of ports and oil pipelines, wrecks the transportation and offloading schedule.