Kazakhstan raises export duty rates for crude

Export duty rate for crude is to be raised from $60 to $80 per ton, Newskaz.ru reports, citing the country’s Minister of Economic Affairs and Budget Planning Yerbolat Dossayev as saying today at a government sittingm tengrinews reports.

“Budget revenues are expected to grow by $505.5 billion through raising the export duty rate for crude from April 1, 2014”, the Minister said.

Oil production output, including condensed gas in 2013 totaled 81.73 million tons, 3.2% up against 2012, with crude production standing at 69.43 million tons (4.4% up).

Crude and condensed gas exports in 2013 made up 72.077 million tons.

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