Russian export duties on benzene, toluene and xylenes are set to fall by a third from February 1 amid weak crude oil prices, according to the information published on the website of the Russian Ministry of Economy.
The duties will be set at $54.1/mt in February and at 48% of those for crude oil, down from last year’s 66% ratio.
In January, following the revamp of the country’s tax regime, aromatics export duties were already slashed by 55% to $81.60/mt.
Aromatics export duties have fallen around 78% from September to February following a drop in crude oil export duties which, in turn, reacted to a precipitous decline in the Urals crude price.
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Export duties for some sorts of crude oil — from fields in Eastern Siberia and the Caspian Sea — and certain refined products, such as ethane and butane, will be set at zero next month.
-Platts.com
