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Belarus starts buying Russian oil according to the new price formula 12:34, 01/02/2007
Since February 1, 2007 Belarus has started buying the Russian oil according to the new price formula. The new formula implies that the oil delivery price is based not on the internal Russian price but on the world price less freight costs, port duties and other transport expenses.
In 2007 the imposed duty will be equal to the rate of general oil export duty with the ratio of 0.293, thus amounting to $53 per ton, Interfax reports.
Until January 1, 2007 Russia didn’t impose any duty on oil deliveries to Belarus.
According to the Belarusian party’s calculations, the delivery price according to the new formula will amount to $225 per ton (including the export duty of $53 per ton). That is comparable to the price of deliveries to Belarus in October-December 2006, i.e. before the imposed export duty.
In February 2007 the oil will be delivered to Belarus by Rosneft, LUKOIL, TNK-BP, Gazprom neft and Russneft.
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