Russia could revise oil export duty up to...

In late December, Russian Prime Minister Vladimir Putin signed an act reducing oil export duty to $267 from $271 per metric ton from January 1.

Alexander Sakovich, head of the ministry"s integrated analysis department, said the average oil price was $75.55 per barrel from December 15, 2009, through January 11, 2010.

He said duty on light petroleum products may rise to $195-$197 from the current $192.2 per metric ton, and duty on heavy petroleum products to $105-$106 from $103.5 per metric ton.

In the fall of 2008, the government moved from a bimonthly to a monthly duty adjustment procedure to respond more swiftly to changes in world oil prices.

MOSCOW, January 12 (RIA Novosti)