Kazakhstan may lower oil export customs fees

Date: 10:22, 04-02-2015.

Astana. February 4. KazTAG - The Ministry of National Economy is considering possible reduction of export customs fees for oil, reads the message posted at primeminister.kz.
"The Ministry of National Economy is considering possible reduction of export customs fees for oil depending on the market cost of this product, said Yerbolat Dosayev, head of the Ministry, on the sidelines of the session of managing committee "Baiterek", reads the message.
"Of course there will be changes as the current level of export customs fees is tied up to different oil price, we are considering the cost of reduction of the export customs fee depending on the oil price," he said.
He added appropriate negotiations have been conducted in the Ministry of National Economy and the Ministry of Energy.
"The Ministry of Energy has almost finished our consulting to keep the necessary level of profitability for oil companies and provide necessary receipts in the budget from our crude products," he said.
In his words, the Republican budget is based on $50 /barrel average annual price.
As of today, the export customs fee for oil export makes $80/ton.

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