The petcoke export tax (for green petcoke) will drop to 5.20 USD per ton in September 2016, according to the Ministry of Economic Development of the Russian Federation.
The September tax will be at its lowest level since May 2016, boosting the attractiveness of petcoke export loadings. An all-time low was recorded at 2.50 USD per ton in March 2016.
The tax rate declined following an oil price decrease from July 15 to August 14.
The Russian petcoke tax has decreased significantly in 2016 compared to previous years, with governmental efforts to reduce fuel oil exports and increase light products’ production. Production via delayed coking unit (DCU) is one of the most efficient ways to increase refining depths and light products’ yields.
This became possible by the so-called “oil industry tax maneuver,” which was agreed to in 2014 and decreased coefficients in export duty calculations starting from January 1, 2015.