Kazakhstan plans to slash crude export duty by 45%

Kazakhstan plans to slash crude export duty by 45% (NSI News Source Info) ASTANA - November 10, 2008: The Kazakh government plans to slash export duty on crude oil by 45% to $139 a ton, the country's oil and mineral resource minister said on Monday. The move comes on the back of plunging oil prices amid the global financial crisis, and just one month since the government raised oil duty by 85% to $203.8 per ton. "The Ministry of Industry and Trade has already drawn up draft regulations, which propose cutting export duty on crude oil to $139 a ton and export duty on fuel oil...from $130 to $95 per ton," said Mynbayev. The minister did not give any details on when the new duties would come into effect.