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136 comments on DrumBeat: April 1, 2007

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HeIsSoFly on April 1, 2007 - 10:09am Permalink | Subthread | Comments top

Russia predicts lower oil prices for 2007-2009. Wonder why.

Russia cuts oil export duty to $156.4 per ton from April 1

Russia has cut the oil export duty by $23.3 to $156.4 per metric ton from April 1.

A decline in oil prices that began late last year and has continued into 2007 has prompted the government to adjust crude price and economic growth forecasts and cut oil export duties.

The oil export duty is adjusted every two months and is based on Russian Urals oil blend prices on world markets.

The previous crude export duty set February 1 stood at $179.7 per metric ton.

The Finance Ministry earlier said the oil price forecast for 2007 had been reduced from $61 to $55 per barrel, and the forecasts would also be reduced from $56 to $53 per barrel in 2008, and from $52 to $50 in 2009.

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RussianBit on April 1, 2007 - 1:23pm Permalink | Subthread | Parent | Comments top

>Russia predicts lower oil prices for 2007-2009. Wonder why.
Simple: oil companies want more money and less taxes.

Regards

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dissident on April 1, 2007 - 2:27pm Permalink | Subthread | Parent | Comments top

They have not been successful steering the Putin administration up to now (e.g. Yukos) so why are they all of the sudden able to set the agenda? The more plausible explanation is that, just like in the west, the cornucopian analysts set the agenda.

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Magnus Redin on April 1, 2007 - 2:39pm Permalink | Subthread | Parent | Comments top

My guess is that the Russian governmnet now own most of the industry and then it matters little if they get the money thru taxes or profit. But the non government and foreign owned oil companies need lower taxes to invest in new production to get at new hard to develop oilfields.

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136 comments on DrumBeat: April 1, 2007

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