Kazakhstan thinking of reducing crude export duty rate

Photo courtesy of uzdunyo.keo.su

Kazakhstan is thinking of reducing crude export duty rate, the country’s Minister of National Economy Yerbolat Dossayev told journalists February 3.

“The current export duty rate was appropriate given earlier prices for crude. We are thinking of reducing the export duty rate (…) We have almost completed consultations with the Energy Ministry to ensure a certain profitability for oil producing companies and maintain a certain level of revenues into the country’s budget”, Mr. Dossayev said.

Starting from April 1, 2014 the crude export duty rate had been raised from $60 to $80 per ton of crude.

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